The Financial Conduct Authority (FCA) has published its October update on the claims data from insurers affected by the ruling in the business interruption (BI) test case in the UK.
According to the FCA, there are still 4,403 claims being settled, for which an aggregate value of £329,368,933 in interim or initial payments have been made. Final settlements, meanwhile, have been agreed and paid in 24,463 claims, to the tune of £766,598,035.
Broken down, here are the claims numbers per insurer:
|
Firm name |
Number of BI claims for COVID-19 related loss that have been accepted |
Number of BI claims where the insurer’s claim validity decision is pending |
Number of BI claims where an initial or interim payment has been made |
Number of BI claims where full payment has been made |
|
Accredited Insurance (Europe) Ltd |
12 |
79 |
3 |
3 |
|
Ageas Insurance Limited |
34 |
41 |
4 |
34 |
|
Aioi Nissay Dowa Insurance UK Limited |
12 |
0 |
0 |
2 |
|
Allianz Global Corporate & Specialty SE |
6 |
0 |
1 |
5 |
|
Allianz Insurance plc |
2314 |
19 |
181 |
1977 |
|
Arch Insurance (UK) Ltd |
1242 |
56 |
1 |
889 |
|
Argenta Syndicate Management Limited |
1095 |
58 |
32 |
1035 |
|
ArgoGlobal SE |
341 |
0 |
24 |
77 |
|
Aspen Insurance UK Limited |
6 |
6 |
0 |
0 |
|
Asta Managing Agency Ltd |
13 |
12 |
0 |
13 |
|
Aviva Insurance Limited |
1880 |
193 |
123 |
1180 |
|
AXA Insurance UK plc |
3131 |
90 |
511 |
1567 |
|
AXIS Managing Agency Limited |
3349 |
257 |
73 |
2837 |
|
AXIS Specialty Europe SE |
455 |
108 |
6 |
372 |
|
Beazley Furlonge Limited |
79 |
0 |
2 |
73 |
|
Brit Syndicate Limited |
31 |
0 |
0 |
16 |
|
Canopius Managing Agents Limited |
1371 |
15 |
447 |
538 |
|
Catlin Underwriting Agencies Ltd |
55 |
45 |
7 |
30 |
|
China Taiping Insurance (UK) Co Limited |
266 |
81 |
8 |
106 |
|
Chubb European Group SE |
65 |
0 |
9 |
19 |
|
Covea Insurance plc |
2778 |
113 |
42 |
2605 |
|
Coverys Managing Agency Ltd |
426 |
86 |
58 |
354 |
|
Ecclesiastical Insurance Office Plc |
37 |
0 |
6 |
15 |
|
ERGO Versicherung Aktiengesellschaft |
230 |
189 |
2 |
214 |
|
Fairmead Insurance Limited |
946 |
3 |
0 |
932 |
|
Faraday Underwriting Limited |
51 |
7 |
3 |
35 |
|
Great Lakes Insurance SE |
10 |
10 |
2 |
10 |
|
HCC International Insurance Company Plc |
5 |
9 |
0 |
1 |
|
HDI Global SE |
102 |
40 |
0 |
11 |
|
HDI Global Specialty SE |
685 |
316 |
342 |
85 |
|
Hiscox Insurance Company Ltd |
9963 |
2215 |
1790 |
3363 |
|
Hiscox Syndicates Ltd |
76 |
32 |
1 |
73 |
|
Liberty Mutual Insurance Europe SE |
61 |
0 |
0 |
57 |
|
Markel International Insurance Company Limited |
856 |
107 |
65 |
688 |
|
Mitsui Sumitomo Insurance Company (Europe) Ltd |
0 |
1 |
0 |
0 |
|
MS Amlin Insurance SE |
596 |
0 |
18 |
182 |
|
MS Amlin Underwriting Limited |
3043 |
0 |
232 |
1418 |
|
Navigators Underwriting Agency Limited |
0 |
0 |
0 |
0 |
|
Probitas Managing Agency Limited |
0 |
5 |
0 |
0 |
|
QBE Europe SA/NV (UK Branch) |
54 |
0 |
0 |
3 |
|
QBE UK Limited |
2375 |
0 |
103 |
1123 |
|
QIC Europe Limited |
546 |
0 |
54 |
293 |
|
Royal & Sun Alliance Insurance Ltd |
2011 |
58 |
170 |
1371 |
|
Swiss Re International SE - UK Branch |
0 |
6 |
0 |
0 |
|
The Channel Managing Agency Limited |
7 |
12 |
0 |
8 |
|
The New India Assurance Company Limited |
905 |
251 |
41 |
421 |
|
Travelers Syndicate Management Limited |
5 |
6 |
0 |
0 |
|
XL Catlin Insurance Company UK Limited |
533 |
36 |
10 |
383 |
|
XL Insurance Company SE |
74 |
1 |
1 |
28 |
|
Zurich Insurance |
102 |
52 |
34 |
20 |
“Any BI policyholders who believe they may have a claim but have not yet submitted this to their insurer should do so as soon as possible in accordance with the policy document,” added the regulator.
“Policyholders may also find it useful to refer to our policy checker and our guidance and statements for policyholders for more information.”
