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FCA releases latest business interruption claims data

FCA releases latest business interruption claims data | Insurance Business UK

FCA releases latest business interruption claims data

The Financial Conduct Authority (FCA) has published the latest set of claims numbers for the non-damage business interruption (BI) policies impacted by the BI test case ruling in the UK.

Based on the data collected by the FCA this month, below are the figures as of July 05.  

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

93

0

0

Ageas Insurance Limited

33

43

2

33

Aioi Nissay Dowa Insurance UK Limited

12

0

0

0

Allianz Global Corporate & Specialty SE

3

4

2

1

Allianz Insurance plc

2362

171

212

1896

Arch Insurance (UK) Ltd

1237

135

1

788

Argenta Syndicate Management Limited

1111

150

570

747

ArgoGlobal SE

351

0

14

49

Aspen Insurance UK Limited

4

8

0

0

Asta Managing Agency Ltd

12

12

0

12

Aviva Insurance Limited

1582

528

136

905

AXA Insurance UK plc

3052

112

529

1396

AXIS Managing Agency Limited

3298

337

102

2729

AXIS Specialty Europe SE

425

200

8

315

Beazley Furlonge Limited

79

0

7

66

Brit Syndicate Limited

31

0

0

10

Canopius Managing Agents Limited

1383

14

275

333

Catlin Underwriting Agencies Ltd

55

64

10

20

China Taiping Insurance (UK) Co Limited

162

121

3

68

Chubb European Group SE

93

0

7

3

Covea Insurance plc

2787

203

43

2535

Coverys Managing Agency Ltd

382

145

97

224

Ecclesiastical Insurance Office Plc

40

0

6

13

ERGO Versicherung Aktiengesellschaft

386

287

7

168

Fairmead Insurance Limited

930

60

6

912

Faraday Underwriting Limited

49

4

4

29

Great Lakes Insurance SE

4

19

1

4

HCC International Insurance Company Plc

6

8

0

1

HDI Global SE

91

51

0

2

HDI Global Specialty SE

568

380

243

34

Hiscox Insurance Company Ltd

8600

2502

1811

1407

Hiscox Syndicates Ltd

55

60

0

45

Liberty Mutual Insurance Europe SE

61

0

0

59

Markel International Insurance Company Limited

843

349

132

570

Mitsui Sumitomo Insurance Company (Europe) Ltd

0

1

0

0

MS Amlin Insurance SE

598

0

43

76

MS Amlin Underwriting Limited

3286

0

241

860

Navigators Underwriting Agency Limited

0

0

0

0

QBE Europe SA/NV (UK Branch)

55

0

0

2

QBE UK Limited

2396

0

173

774

QIC Europe Limited

743

4

53

156

Royal & Sun Alliance Insurance Ltd

2081

108

164

1081

Swiss Re International SE - UK Branch

0

8

0

0

The Channel Managing Agency Limited

5

13

0

6

The New India Assurance Company Limited

581

591

24

301

Travelers Syndicate Management Limited

7

0

0

0

XL Catlin Insurance Company UK Limited

512

51

16

298

XL Insurance Company SE

75

1

2

21

Zurich Insurance

98

63

31

9

  

The regulator said the aggregate value of the interim/initial payments made for unsettled claims where such payments have been made stands at £308,885,284, while the aggregate value of the payments made for claims where final settlements have been agreed and paid has so far amounted to £566,604,710.