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Insurers see surge in lawsuits as they withhold payouts

Posted On: Oct. 27, 2022 9:42 AM CST


A report by U.K.-based insurance buyer and risk expert Mactavish said that insurers’ growing reluctance to pay out insurance claims caused a 280% surge in lawsuits against insurers in the U.K. between 2017 and 2021, City AM reported. There was a significant increase in lawsuits against insurers, especially relating to the COVID-19 business interruption claims.