Covid-19: ABI clarifies position on business insurance
The insurance industry has faced a customer backlash as most commercial policies do not cover for business interruption caused by pandemic.
The Association of British Insurers (ABI) reiterated its stand on business interruption cover following the government intervention to ensure providers pay out to those with pandemic business interruption cover.
The government assured policyholders yesterday (17 March) these particular claims will be accepted by insurers even though current business closures are voluntary and not mandated.
Unprecedented
The ABI commented: “The spread of coronavirus is unprecedented in modern times and we
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