Business interruption insurance test case – Insurer claims data

Find the latest data we have collected (as of 7 March 2022) from all affected insurers on the progress of their non-damage business interruption (BI) insurance claims.

Download the data (Excel)

Please see the thirteenth tab for data published on 16 March 2022 and other tabs for previous monthly submissions.


We sent a Dear CEO letter to insurers affected by the business interruption insurance Test Case. The letter explained that we intended to gather information on all non-damage BI policies that are, in principle, capable of responding to the coronavirus (Covid-19) pandemic. We published an updated list of non-damage business interruption policies on 27 May 2021 that are, in principle, capable of responding to the Covid-19 pandemic in at least some circumstances, as submitted by insurers. 

The letter also set out our intention to gather information from all affected insurers regularly on the progress of their non-damage BI claims, and to publish some of this data.

What the data includes

Insurers have submitted their data on their progress with BI claims. We have decided to publish, at an individual firm level, the number of:

  • BI claims where the insurer has received all the information required to enable them to calculate the total value of the claim
  • BI claims for Covid-19 related loss that have been accepted
  • BI claims where the insurer’s decision as to whether there is a valid claim is pending
  • unsettled BI claims where an interim/initial payment has been made to the policyholder or their representative
  • BI claims where an offer of final settlement has been made, accepted by the policyholder, and paid in full

A number of firms have provided nil returns. Our request only included policies:

  1. which are, in principle, capable of responding to the COVID-19 pandemic
  2. which do not represent contracts of large risk
  3. where more than five claims have been made

This means those insurers with a ‘nil return’ did respond to the FCA’s request, but don’t have any policies within the scope of the data request. 

The aggregate value of the interim/initial payments made for the 2,798 (7 February: 3,029) unsettled claims where such payments have been made is £303,052,465 (7 February: £307,867,384). The aggregate value of the payments made for the 31,478 (7 February: 30,176) claims where final settlements have been agreed and paid (see  data note below) is £1,046,446,929 (7 February: £1,006,918,766). This means that (at the point of this information submission) 34,276 (7 February: 33,205) BI policyholders out of the 42,340 (7 February: 42,307) who had had claims accepted, had received at least an interim payment.

The information reported is as submitted to us and reflects the firms’ records of the numbers of claims meeting the criteria specified in our information request, and of the values of interim/initial payments and final settlements made as reported to us on 7 March 2022. 

Some inconsistencies may exist between how insurers have reported their figures. We will continue to work with relevant insurers to ensure consistency in future reporting.

The claims numbers reported as those where the insurer has received all the information needed to calculate the total value of the claim reflect the insurer’s view. We remind firms of the need to handle claims promptly and fairly and to provide reasonable guidance to help a policyholder to make a claim.

Any BI policyholders who believe they may have a claim but have not yet submitted this to their insurer should do so as soon as possible in accordance with the policy document. Policyholders may also find it useful to refer to our policy checker and our guidance and statements for policyholders for more information.

Data note

Each month we publish an aggregate total value of payments made where final settlements have been agreed and paid. In May 2021 we clarified and reiterated to insurers that final settlement figures should exclude interim payments made on unsettled claims. 

A small number of firms informed us that they had been reporting incorrectly. As a result, we estimate that our reported figure of £433,125,666 (May 2021) for payments made where final settlements have been agreed and paid may have been overstated by up to 10%. Impacted firms have corrected their reporting going forward as of their June submission. We have not asked firms to resubmit their historic positions so care should be taken when comparing historic settlement figures. 

Future data

This month (March 2022) is the last sequential month that we will collect and publish the data. After this month firms should be able to provide us with the data as requested. In September 2022 and in March 2023 we will request another submission for publication.