UK-listed insurers Hiscox and Beazley have given their first estimates of the scale of potential claims from coronavirus, which could be one of the most expensive events ever for the industry.
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Two UK insurers outline scale of coronavirus claims
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In its statement on Wednesday, the group said: “Hiscox UK’s core small commercial package policies do not provide cover for business interruption as a result of the general measures taken by the UK government in response to a pandemic.” However, Hiscox struck a conciliatory tone, adding that it would work with “the UK insurance industry, its regulators and its customers to seek means of expediting resolution through the range of independent mechanisms available”.
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