Covid-19: Total claims pay-outs expected to reach £1.2bn
The ABI says insurers are expected to pay £900m towards business interruption claims.
Claims pay-outs related to Covid-19 are expected to reach over £1.2bn, according to initial estimates from the Association of British Insurers (ABI).
The trade body detailed that this covers payments on business interruption, travel insurance, wedding policies and cancelled school trips.
The estimate forms part of the ABI’s response to the Treasury Select Committee, which it said sets out how insurers continue to support their customers throughout the coronavirus crisis.
The letter from the
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