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Insurers less exposed to BI risks in latest lockdown due to new exclusions

By 2021-01-25T08:12:00

coronavirus exclusion

Ratings agency director says there is no ‘appetite for providing cover as part of general property business interruption’

Insurers are not facing the same exposure to business interruption (BI) claims in this year’s national lockdown compared to the initial coronavirus lockdown last March as most insurers have since added “exclusionary language to their property BI policies”, said Graham Coutts, senior director and head of EMEA reinsurance at Fitch Ratings.

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