Only one-third of policyholders that have filed a COVID-19 business interruption claim related to the Financial Conduct Authority’s test case have settled with their insurer and received payment in full, according to the latest figures.

Insurers have accepted 37,702 claims, but a further 9,152 policyholders are still awaiting a decision from their insurer. Of the accepted claims, 16,159 policyholders have settled and received payments in full, worth £467.3 million ($659.29 million). A further 4,188 policyholders have received interim payments totaling £289.6 million on unsettled claims.

In total, insurers affected by the case have paid £756.9 million in full or part to policyholders against their non-damage BI cover in the U.K.

The data to June 5 is the latest monthly installment compiled by the FCA after the UK’s Supreme Court predominantly found in favor of policyholders for BI losses during COVID-19 lockdowns.

Since May, when figures were previously released, insurers have settled a further 2,264 claims and paid a further £34 million to settle those in full. By June 5, just over half of policyholders with claims accepted had received either an interim or full payment, the FCA said.

Hiscox Ltd. has the highest number of unsettled claims, where interim payments have been made, at 1,469, which far outweigh settled claims paid in full at 537. Hiscox also has the highest number of pending claims at 2,708. Of the 7,346 accepted claims from policyholders, Hiscox has settled in full with just 7%, although this rises to 27% when including interim/initial payments on unsettled claims.

Canopius Managing Agency has the second-highest number of pending claims at 796, followed by New India Assurance Co. at 771 and ERGO Versicherungs at 614. At all three of these companies, the number of claims awaiting a decision from the insurer exceeds the number of accepted claims. Axis Managing Agency still has decisions to make on 430 claims, while Axis Specialty Europe has 284 pending claims.

More insurance and risk management news on the coronavirus crisis here.