According to an early estimation by the Association of British Insurers (ABI), the association member insurance companies expect to pay approximately 1.2 billion British pounds in compensation following the coronavirus (COVID-19) pandemic. The largest share of the claims, 75 percent or 900 million British pounds, are for business interruption. For reference, in 2018, the UK non-life insurance sector paid a total of approximately 65 billion euros in claims.
Estimated value of insurance claims payout to businesses affected by COVID-19 in the United Kingdom (UK) as of April 2020, by type of claim
(in million GBP)
Characteristic
Estimated value of insurance claims payout in million British pounds
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Association of British Insurers. (April 29, 2020). Estimated value of insurance claims payout to businesses affected by COVID-19 in the United Kingdom (UK) as of April 2020, by type of claim (in million GBP) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/871857/estimation-insurance-claims-paid-to-business-coronavirus-united-kingdom/
Association of British Insurers. "Estimated value of insurance claims payout to businesses affected by COVID-19 in the United Kingdom (UK) as of April 2020, by type of claim (in million GBP)." Chart. April 29, 2020. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/871857/estimation-insurance-claims-paid-to-business-coronavirus-united-kingdom/
Association of British Insurers. (2020). Estimated value of insurance claims payout to businesses affected by COVID-19 in the United Kingdom (UK) as of April 2020, by type of claim (in million GBP). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/871857/estimation-insurance-claims-paid-to-business-coronavirus-united-kingdom/
Association of British Insurers. "Estimated Value of Insurance Claims Payout to Businesses Affected by Covid-19 in The United Kingdom (Uk) as of April 2020, by Type of Claim (in Million Gbp)." Statista, Statista Inc., 29 Apr 2020, https://www.statista.com/statistics/871857/estimation-insurance-claims-paid-to-business-coronavirus-united-kingdom/
Association of British Insurers, Estimated value of insurance claims payout to businesses affected by COVID-19 in the United Kingdom (UK) as of April 2020, by type of claim (in million GBP) Statista, https://www.statista.com/statistics/871857/estimation-insurance-claims-paid-to-business-coronavirus-united-kingdom/ (last visited July 22, 2024)
Estimated value of insurance claims payout to businesses affected by COVID-19 in the United Kingdom (UK) as of April 2020, by type of claim (in million GBP) [Graph], Association of British Insurers, April 29, 2020. [Online]. Available: https://www.statista.com/statistics/871857/estimation-insurance-claims-paid-to-business-coronavirus-united-kingdom/
