Business Insurance

Login  |  Register Subscribe



cbVid =

U.K.: Insurers say planned changes to riot act will cause problems

August 6, 2014 - 6:00am


The Association of British Insurers said proposed changes to the Riot Damages Act would hit insurers' ability to cover riot-related damage in England and Wales as a standard part of property cover, Daily Mail reported.

This will leave many businesses "facing financial hardship," it said.

The association said insurers paid out about 167 million ($281.6 million) to people and businesses after the summer 2011 riots in England.

It now estimates that for every 10 ($16.9) paid out after those riots, only 1 ($1.7) would be paid out under the amended Act.

Read more

 



Get our daily Global Focus newsletter
  •  


You may also want to visit

International Content