Hiscox expects $175m Covid-19 payout

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Hiscox has confirmed that it expects to pay net claims of $150m in the six months from March 2020 as a result of Covid-19.

It further detailed that, if the lockdown restrictions on travel and mass gatherings go beyond six months it expects to add $25m to the total taking it to $175m.

The provider is under attack from a consortium of companies, the Hiscox Action Group, over its insistence that their BI policies do not cover the current pandemic.

It reiterated that its commercial policies for

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