16:28Lloyd’s of London, the world’s biggest insurance market, said it expected up to £5bn would be paid out in claims related to the coronavirus pandemic, writes Julia Kollewe for the Guardian’s business desk. 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. John Neal, the chief executive of Lloyd’s of London, said the first half of the year had been exceptionally challenging. “The pandemic has inflicted catastrophic societal and economic damage calling for unparalleled measures to stifle the spread of the virus, and to get businesses and economies back on their feet,” he said.

Source: The Guardian September 09, 2020 22:44 UTC