About 30% Of Cos. Still Waiting For COVID Claim Payouts
By Martin Croucher (November 17, 2021, 4:03 PM GMT) -- Almost 30% of businesses with valid insurance claims for pandemic-related closures are still waiting for payments, 10 months after the U.K.'s top court ruled in favor of policyholders in a test case.
The Financial Conduct Authority said in figures published Tuesday that 12,584 out of 42,616 claimants have yet to receive either an interim or full payment under their business interruption insurance.
The watchdog has been collecting claims data from insurers since the conclusion of a test case in January, when the U.K. Supreme Court ruled that businesses with a range of specific policy wordings were able to claim for losses...
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