Keep up to date with the latest insurance and business news in our weekly round-up…

 

Government borrowing hits record £62bn in April over coronavirus measures

UK government borrowing rose by a record £62.1bn in April alone as the government paid people’s wages and loaned businesses cash to survive the coronavirus lockdown, statistics showed today.

Aviva estimates COVID-19 impact on specialist schemes and brokers as related BI claims reach £200m

The insurer calculates that coronavirus-related claims across its general insurance business will total £160m net of reinsurance.

COVID-19 linked to 54% drop in Q1 insurtech funding: WTW

A new report from Willis Towers Watson has found that insurtech investment worldwide totalled about $912 million during the first three months.

Insurance action group prepares to challenge Aviva and QBE over business interruption policies

The Hospitality Insurance Group Action (HIGA) has announced it is preparing to launch a group claim against insurers Aviva and QBE over unpaid business interruption policies.

COVID-19: FCA seeks business interruption insurance ruling

The FCA is urging SMEs who have experienced difficulties making claims under business interruption insurance policies during the pandemic to join its test case challenging insurers’ decision making.

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