Beazley estimates $170 million in coronavirus claims

(Reuters) — Insurer Beazley PLC estimated coronavirus-related claims at $170 million on Wednesday and said it was rejecting claims from small companies for business interruption in the crisis, while also reporting a $55 million loss in the first quarter due to this year's selloff in financial markets.

It expects the cost of the pandemic across the political, accident and contingency division, which includes event cancellation, personal accident and accident and health, to be around $70 million net of reinsurance. 

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