Britain Covid-19 pandemic cover Britain

Insurance payouts for coronavirus-related claims estimated to reach up to £2.5bn

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dailyrecord.co.uk

coronavirus-related insurance claims during 2020.The ABI said its members could pay around £2 billion for Covid-19 business interruption claims.A further £204 million may be paid from Covid-19 related protection insurance claims, including life, critical illness, and income protection insurance claims and £152 million is expected to be paid on travel insurance claims.Some £121 million could be paid across other general insurance products, including events, weddings, and liability insurance.The ABI, whose figures cover its members, said overall UK Covid-19 insurance claims are estimated at around £3 billion.Huw Evans, the ABI's director general, said: "The Covid-19 pandemic is unprecedented in its impact and will be one of the biggest.

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