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COVID-19: estimated value of insurance claims payout to business in the UK 2020

Published by Statista Research Department, Nov 5, 2020
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)

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Source

Release date

April 2020

Region

Europe

Survey time period

April 25, 2020

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