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Business interruption: FCA releases latest insurer claims data

Business interruption: FCA releases latest insurer claims data | Insurance Business UK

Business interruption: FCA releases latest insurer claims data

The Financial Conduct Authority (FCA), which last month published the claims data of insurers whose non-damage business interruption (BI) policies are affected by the FCA test case ruling, has now released the latest claims numbers.

Below are the updated figures, based on the information collected by the regulator as of April 06.  

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

7

80

0

0

Ageas Insurance Limited

7

13

0

5

Aioi Nissay Dowa Insurance UK Limited

12

0

0

0

Allianz Global Corporate & Specialty SE

3

4

2

1

Allianz Insurance plc

2381

275

328

1613

Arch Insurance (UK) Ltd

1115

250

0

407

Argenta Syndicate Management Limited

731

509

341

313

ArgoGlobal SE

391

1

0

18

Aspen Insurance UK Limited

4

8

0

0

Asta Managing Agency Ltd

12

8

0

12

Aviva Insurance Limited

1175

471

131

489

AXA Insurance UK plc

2787

217

439

1038

AXIS Managing Agency Limited

2655

865

337

1683

AXIS Specialty Europe SE

293

284

13

144

Beazley Furlonge Limited

76

0

10

33

Brit Syndicates Limited

25

0

0

0

Canopius Managing Agents Limited

1400

22

2

31

Catlin Underwriting Agencies Ltd

35

65

11

12

China Taiping Insurance (UK) Co Limited

72

207

0

12

Chubb European Group SE

39

43

4

0

Covea Insurance plc

3245

483

86

2403

Coverys Managing Agency Ltd

313

216

95

40

Ecclesiastical Insurance Office Plc

39

0

4

10

ERGO Versicherung Aktiengesellschaft

20

657

5

20

Fairmead Insurance Limited

822

166

21

822

Faraday Underwriting Limited

44

0

1

13

HCC International Insurance Company Plc

34

16

1

11

HDI Global SE

0

12

0

0

HDI Global Specialty SE

701

34

30

1

Hiscox Insurance Company Ltd

6329

5287

529

49

Hiscox Syndicates Ltd

22

89

0

18

Liberty Mutual Insurance Europe SE

62

0

1

46

Markel International Insurance Company Limited

746

479

145

375

Mitsui Sumitomo Insurance Company (Europe) Ltd

0

0

0

0

MS Amlin Insurance SE

542

0

6

1

MS Amlin Underwriting Limited

3402

0

73

107

Navigators Underwriting Agency Limited

0

0

0

0

QBE Europe SA/NV (UK Branch)

54

0

0

0

QBE UK Limited

2467

0

37

362

QIC Europe Limited

714

39

2

3

Royal & Sun Alliance Insurance Plc

1819

227

185

445

Swiss Re International SE - UK Branch

0

7

0

0

The Channel Managing Agency Limited

1

20

0

1

The New India Assurance Company Limited

227

969

7

102

Travelers Syndicate Management Limited

7

0

0

0

XL Catlin Insurance Company UK Limited

443

115

30

110

XL Insurance Company SE

77

0

3

17

Zurich Insurance

88

79

19

5

  

According to the FCA, the aggregate value of the interim/initial payments made for unsettled claims where such payments have been made so far is £247,689,535, while the aggregate value of the payments made for claims where final settlements have been agreed and paid is £352,101,391.