UK insurers to explicitly exclude covid-19 as contracts are up for renewal

Insurers in the UK are moving to close any loopholes in the terms of their business coverage to make sure the covid-19 pandemic is explicitly excluded. The Association of British Insurers (ABI) has said that the travel insurers in the UK could face a record-breaking estimate of at least £275m in claims over the covid-19 outbreak. This could be the highest pay-out for passenger flight cancellations, till date. The industry has been criticised for sticking to a tough line since the crisis began that the outbreak is already excluded from many policies. Now, the industry is tightening ...