Weekly News RoundUP – 28th June

As the summer of sport gets underway, the organisers of two of the world’s largest sporting events will be anxiously checking their thermometers, as concerns mount about the potential effects of extreme heat on the athletes.  Insurance has a “critical role” to play at these competitions, and in a fascinating article,  Allianz delves in to all the different types of coverage being implemented by event organisers. In other news, the FCA have found “a mixed bag of results” in how the Consumer Duty regime has been introduced and adopted by firms.

Insuring the biggest sports events on earth (Source: Allianz)
Extreme weather, disease surveillance systems, terrorism-related incidents – just some of things event organisers need to take into consideration when procuring insurance.

PGA Tour golf event purchases parametric rain insurance from Mitsui Sumitomo subsidiary (Source: The Insurer)
Vortex Insurance will be providing coverage for the Dick’s Sporting Goods PGA Tour Champions golf event in New York to manage any financial loss caused by rain.

Blueprint Two phase one digital services postponed (Source: CIR Magazine)
A new target date for the cut over will be decided in due course following significant delays caused by testing challenges.

FCA warns insurance industry to improve Consumer Duty monitoring (Source: Health & Protection)
The regulator has published its Consumer Duty outcomes review and has “warned the insurance industry to improve monitoring”.

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