Covid BI claims payments hit £701m

UK money

Insurers have paid out over £701m 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 regulator revealed that providers had made initial payments for unsettled claims worth £268.2m and final settlements of £433.1m as of 5 May 2021.

Last month, FCA data showed that insurers had paid out a total of nearly of £600m as of 6 April 2021, including £247.7m in interim payments and £352

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