Covid BI claims payments surpass £1bn

Money

Insurers have so far paid out over £1bn in pandemic-related business interruption claims, according to the latest data from the Financial Conduct Authority (FCA).

The figures showed that providers had made initial payments worth £328.9m for unsettled claims and final settlements of £696.2m as of 5 September 2021.

In August the regulator stated that insurers had paid out £968m, including £331.3m in interim payments and £636.8m in final settlements.

Meanwhile, 27,248 (August: 26,238) of BI

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