Insurance Companies: Coronavirus

(asked on 18th March 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions he has had with insurance companies that will not pay out insurance monies to their customers on the basis that the covid-19 has not yet been put on their list of infectious diseases.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 23rd March 2020

The Government is in continual dialogue with the insurance sector about its contribution to handling this unprecedented situation. Most businesses have not purchased insurance policies that cover unspecified notifiable diseases, such as COVID-19. Insurance policies differ significantly, so businesses are encouraged to check the terms and conditions of their specific policy and contact their providers.

In addition, the FCA’s rules require insurers to handle claims fairly and promptly; provide reasonable guidance to help a policyholder make a claim, and appropriate information on its progress; not reject a claim unreasonably; and settle claims promptly once settlement terms are agreed.

On Tuesday 17 March the Chancellor announced that the Government would do whatever it takes to get our nation through the impacts of COVID-19 and that he stands ready to announce further action wherever necessary.

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