Hiscox revised its reserving upwards alongside taking into account potential business interruption payouts; the insurer believes its exposure to Covid-related BI claims could be between £10m and £250m
The insurer had initially set aside $150m for classes including event cancellation and abandonment, media and entertainment and travel, but announced an increase in reserving within it’s half-year results, published on Monday.
Read more…
We’re glad you’ve chosen Insurance Times as your source for industry news and hope you’ve been enjoying reading articles from our award-winning team of journalists.
Gain access to more of our exclusive, breaking stories, interviews and news analysis as it happens. Registering is quick, easy, free, and will also have the additional benefits:
Stay on top of the insurance game with our subscription! Get unlimited access to over 80,000 articles, in-depth analysis, exclusive reports by industry experts, and our Five-Star rating system to compare companies and find the best fit for your business needs - view subscription options.