Insurers settle over 75% of COVID-19 BI claims

Data from the U.K.’s Financial Conduct Authority shows that insurers paid nearly £1.3 billion ($1.75 billion) worth of COVID-19 business interruption insurance claims as of Jan. 7, one year since the Supreme Court’s BI test case ruling in the favor of policyholders, Reinsurance News reported. With this, more than 75% of the eligible COVID-19 BI claims in the U.K. have been either settled fully or partially.