Covid BI claims payments now at £1.3bn

The total amount paid out by insurers in Covid-19 related business interruption claims has reached £1.3bn, according to the Financial Conduct Authority.

The latest set of figures revealed that providers had made initial payments worth £329.4m and final settlements of £967.9m as of 7 January 2022.

In addition, 32,385 (December: 31,325) of BI policyholders who have had claims accepted have received at least an interim payment. In total, 42,842 (December: 42,724) have had their claims accepted.

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