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The Guardian - UK

Business

Daniel Boffey Chief reporter

Insurer forced to pay thousands of pounds to small firms hit by Covid payout delays

QBE Covid-19 Insurance

QBE London HQ reception desk — QBE’s London headquarters. Its initial payout to 86 companies raises the potential for a total outlay by insurers of up to £1.6bn in interest. Photograph: Hufton+Crow-VIEW/Alamy

One of the world’s largest insurance companies has been forced to pay thousands of pounds in interest to small businesses whose Covid insurance payout claims were delayed.

The QBE Group’s initial payout just before Christmas of more than £386,000 to 86 companies raises the potential for a total outlay by insurers of up to £1.6bn in interest to customers, it is claimed.

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