The question of how much business interruption insurance claims will cost insurers is one step closer to being answered as Reuters has today revealed that UK insurers have already paid out more than £700 million.
The figure follows the verdict of the Supreme Court regarding the Financial Conduct Authority (FCA)’s business interruption insurance case. Reuters noted that the watchdog had signalled that insurers have made interim payments of £268 million and final settlements totalling £433 million in an update on its website.
