More than $1 billion BI claims settled in UK
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The U.K.’s Financial Conduct Authority said that local insurers have paid £946 million ($1.3 billion) in COVID-19 pandemic-related business interruption claims since the Supreme Court’s BI test case ruling in the favor of policyholders in January, City AM reported. The payout amount is expected to increase further as more than 38% of businesses with eligible claims are yet to receive any form of compensation.
