Covid-19: Hiscox hits back amid BI dispute
The insurer is facing a potential class action after declining a series of business interruption payments but says it could pay up to $175m and is “proactively paying claims”.
Hiscox issued a statement today (15 April) claiming its exposure to business interruption in Europe due to Covid-19 is limited.
The provider responded to an attack by a consortium of companies in the UK which claimed it was wrongly denying BI claims putting thousands of businesses at risk.
The Group, the Hiscox Action Group, includes a number of UK SMEs and had threatened to take the insurer to court.
Events
Hiscox hit back with a public statement about its BI wordings and insisted valid
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