FCA data reveals progress as insurers settle Covid-19 BI claims
Updated figures show providers have made interim payments of £247.7m and final settlements of £352.1m since the Supreme Court verdict, but 12,217 policyholders are still waiting to hear whether their policies provide cover or not.
Insurers have paid out nearly £600m in Covid-19 related business interruption claims since the conclusion of the test case, according to a fresh set of data from the Financial Conduct Authority (FCA).
The watchdog detailed that providers had made initial payments for unsettled claims worth £247.7m and final settlements of £352.1m as of 6 April 2021.
Earlier data showed that insurers had paid out a total of £472m as of 3 March 2021, including £192.1m in interim payments and £352.1m in final
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