Hiscox expects $175m Covid-19 payout
Hiscox, which is currently in dispute with a group of firms over BI, said it is actively settling claims for event cancellation and abandonment, media and entertainment and travel.
Hiscox has confirmed that it expects to pay net claims of $150m in the six months from March 2020 as a result of Covid-19.
It further detailed that, if the lockdown restrictions on travel and mass gatherings go beyond six months it expects to add $25m to the total taking it to $175m.
The provider is under attack from a consortium of companies, the Hiscox Action Group, over its insistence that their BI policies do not cover the current pandemic.
It reiterated that its commercial policies for
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