Lloyd’s of London expects £5bn in Covid-19 insurance payouts

Insurance market says claims totalled £2.4bn in first half of 2020, leading to £400m loss

Lloyd’s of London, the world’s biggest insurance market, has said it expects up to £5bn to be paid out in claims related to the coronavirus pandemic.

The insurers that operate in the Lloyd’s market are paying out Covid-19 claims in 16 different insurance areas, mostly related to event cancellations but also medical malpractice, travel cancellations and business interruption.

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