The Financial Conduct Authority (FCA) has revealed that – based on the latest information it has collected from insurers affected by the UK business interruption (BI) test case – 21,198 claims have been fully settled while interim payments have been made in 5,040 claims.
Below are the claims numbers, according to the FCA’s August update:
|
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 |
88 |
0 |
1 |
|
Ageas Insurance Limited |
34 |
36 |
2 |
34 |
|
Aioi Nissay Dowa Insurance UK Limited |
12 |
0 |
0 |
0 |
|
Allianz Global Corporate & Specialty SE |
6 |
0 |
1 |
5 |
|
Allianz Insurance plc |
2332 |
104 |
198 |
1934 |
|
Arch Insurance (UK) Ltd |
1244 |
101 |
1 |
824 |
|
Argenta Syndicate Management Limited |
1208 |
7 |
288 |
1147 |
|
ArgoGlobal SE |
360 |
0 |
18 |
68 |
|
Aspen Insurance UK Limited |
6 |
6 |
0 |
0 |
|
Asta Managing Agency Ltd |
12 |
13 |
0 |
12 |
|
Aviva Insurance Limited |
1634 |
593 |
138 |
984 |
|
AXA Insurance UK plc |
3095 |
114 |
533 |
1457 |
|
AXIS Managing Agency Limited |
3297 |
292 |
102 |
2654 |
|
AXIS Specialty Europe SE |
439 |
157 |
8 |
332 |
|
Beazley Furlonge Limited |
79 |
0 |
3 |
72 |
|
Brit Syndicate Limited |
31 |
0 |
0 |
11 |
|
Canopius Managing Agents Limited |
1387 |
15 |
559 |
411 |
|
Catlin Underwriting Agencies Ltd |
55 |
60 |
10 |
24 |
|
China Taiping Insurance (UK) Co Limited |
220 |
64 |
4 |
96 |
|
Chubb European Group SE |
94 |
0 |
7 |
7 |
|
Covea Insurance plc |
2816 |
153 |
46 |
2562 |
|
Coverys Managing Agency Ltd |
392 |
130 |
84 |
273 |
|
Ecclesiastical Insurance Office Plc |
39 |
0 |
6 |
13 |
|
ERGO Versicherung Aktiengesellschaft |
502 |
249 |
5 |
182 |
|
Fairmead Insurance Limited |
940 |
50 |
7 |
929 |
|
Faraday Underwriting Limited |
49 |
13 |
3 |
33 |
|
Great Lakes Insurance SE |
19 |
17 |
3 |
19 |
|
HCC International Insurance Company Plc |
6 |
7 |
0 |
1 |
|
HDI Global SE |
88 |
51 |
0 |
6 |
|
HDI Global Specialty SE |
636 |
343 |
288 |
54 |
|
Hiscox Insurance Company Ltd |
9180 |
2478 |
1897 |
2048 |
|
Hiscox Syndicates Ltd |
66 |
46 |
2 |
58 |
|
Liberty Mutual Insurance Europe SE |
61 |
0 |
0 |
56 |
|
Markel International Insurance Company Limited |
845 |
165 |
78 |
624 |
|
Mitsui Sumitomo Insurance Company (Europe) Ltd |
1 |
0 |
0 |
0 |
|
MS Amlin Insurance SE |
595 |
0 |
34 |
106 |
|
MS Amlin Underwriting Limited |
3254 |
0 |
246 |
1060 |
|
Navigators Underwriting Agency Limited |
0 |
0 |
0 |
0 |
|
QBE Europe SA/NV (UK Branch) |
55 |
0 |
0 |
2 |
|
QBE UK Limited |
2404 |
0 |
148 |
933 |
|
QIC Europe Limited |
743 |
3 |
49 |
231 |
|
Royal & Sun Alliance Insurance Ltd |
2038 |
81 |
192 |
1216 |
|
Swiss Re International SE - UK Branch |
0 |
8 |
0 |
0 |
|
The Channel Managing Agency Limited |
7 |
12 |
0 |
7 |
|
The New India Assurance Company Limited |
686 |
497 |
30 |
332 |
|
Travelers Syndicate Management Limited |
4 |
4 |
0 |
0 |
|
XL Catlin Insurance Company UK Limited |
512 |
55 |
11 |
343 |
|
XL Insurance Company SE |
75 |
1 |
4 |
24 |
|
Zurich Insurance |
101 |
60 |
35 |
13 |
The FCA said the aggregate value of the interim payments made now stands at £331,285,812, while that for final settlements has so far reached £636,799,954. As previously clarified by the regulator, the final settlement figure does not include the interim payments made on pending BI claims.
