Covid-19: Expect £275m in travel payouts, says ABI
Industry body says the total will dwarf the £148m record reported in 2010.
The Association of British Insurers (ABI) has estimated that travel insurers will pay out a minimum of £275m in relation to 400,000 expected coronavirus claims.
Cancellation payments, which will make up the “vast majority” of the total, are expected to be the highest on record.
Claims on disruption costs incurred overseas are also expected.
Background
The outbreak of coronavirus has proved challenging to brokers and insurers alike.
On 12 March, LV became the first major insurer to pause the
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