Hiscox counts cost of pandemic claims after 2020 loss

Hiscox counts cost of pandemic claims after 2020 loss
Updated / Wednesday, 3 Mar 2021
07:53
Hiscox lost a high-profile court case over policy wordings earlier this year
Insurer Hiscox swung to a huge loss for 2020 today and continued to withhold a dividend due to a spike in business insurance claims from the Covid-19 pandemic.
This comes after it lost a high-profile court case over policy wordings earlier this year. 
Hiscox is part of a group of insurers that had argued many business interruption policies did not cover disruption after UK government measures to curb the coronavirus.
It posted a pre-tax loss of $268.5m for the 12 months ended December 31, compared with a profit of $53.1m a year earlier. 

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