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UK insurers are to pay £2.5bn on Covid-19 risk

The 2020 Covid-19 risk claims received by UK insurance companies are valued at £2.5bn, and the amount on business interruption risk is £2bn.
UK insurers are to pay £2.5bn on Covid-19 risk

The Internet resource UkrStrakhovanie has learnt this from the report by Association of British Insurers (ABI), which also indicates that the amount of settled claims for the Covid-19 risk is 204 million pounds, including payments under life and health insurance contracts.

British insurers are preparing to pay out 152 million pounds on travel insurance contracts and 121 million pounds – on risk of abandonment of events.

In his comments on the ABI report, the CEO Hugh Evans said: “ABI has collected the data from different companies in mid to late January, and millions of pounds are being paid every week as part of claims settlement.” According to him, the pandemic has exposed existing gaps in coverage. “We need to learn from this unprecedented event and redouble our efforts to increase consumer trust in insurance products,” he said.

Source: https://www.ukrstrahovanie.com.ua/news/strahovshhikam-velikobritanii-predstoit-vyplatit-25-mlrd-funtov-po-risku-covid-19

Photos are from open sources.

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