Sydney-headquartered QBE Insurance Group, which provides business interruption (BI) insurance as part of a broader property damage policy, has lifted the lid on its BI exposure in the UK.
“While the group’s business interruption policies do not typically cover claims arising from COVID-19, in response to queries regarding potential business interruption claims relating to QBE’s UK-based policyholders, QBE notes that reinsurance would limit the group’s net UK business interruption claims cost to US$75 million,” stated the insurer in an Australian Securities Exchange filing.
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