Insurers settle $1 billion worth of BI claims in UK

The U.K.’s Financial Conduct Authority said that local insurers have paid £757 million ($1 billion) in COVID-19 pandemic-related business interruption insurance claims since the High Court’s BI test case ruling in the favor of policyholders, Law360 reported. This translates into partial or full settlement of 54% of the 37,700 claims accepted by the insurers.

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