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Business interruption ruling to dent insurers' earnings


U.S.-based A.M. Best Co. Inc. expects COVID-19 pandemic-related business interruption claims to hurt U.K. commercial property insurers' earnings this year, following a court's ruling in the Financial Conduct Authority's BI insurance test case, Asia Insurance Review reported. A.M. Best estimates that around 10% of nonlife insurers' £7.5 billion ($9.7 billion) gross commercial property premiums relate to business interruption extensions.

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