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UK insurers paid £202 million due to Covid-19

The total amount of payments for the risk of death from Covid-19 made by British insurance companies was £202 million last year, it equated to the average daily payment of £553,000.
UK insurers paid £202 million due to Covid-19

The Internet resource UkrStrakhovanie learned about this from the report by the Association of British Insurers (ABI). The largest payments to support the families of people tragically killed by Covid-19 in 2020, according to the ABI, included £250,000 paid the day after death notification and £1 million paid to dependents of the deceased.

A total of 11.2 thousand applications were received, of which 96% and 99% were settled in accordance with individual and group plans, respectively. The average payout on individual policies was £13,100 and group policies - £74,600.

“No one has been affected more by the pandemic than the families of those killed by Covid. While no amount of money can ever replace life, insurers have done and continue to do whatever they can to help families financially cope with these difficult and tumultuous times,” commented Yvonne Brown, ABI spokesperson.

Source: https://www.ukrstrahovanie.com.ua/news/strahovshhiki-velikobritanii-vyplatili-202-mln- funtov-dlya-semej-pogibshih-ot-covid-19

Photos are from open sources.

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