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ABI responds to Treasury Select Committee letter

The Chair of the Treasury Select Committee Mel Stride MP has written to the ABI regarding the industry response to the Coronavirus outbreak.

In response to the letter, an ABI spokesperson has said:

“We are addressing the questions raised, and will be responding to the Committee. The insurance industry recognises this is a very difficult and worrying time, and insurers are doing all it can to help and support customers. This includes travel insurers expected to make record payouts of £275 million to people who have had their travel plans ruined by coronavirus, industry commitments to ensure fair and prompt service standards to customers, including waiving the requirement to inform your insurer if using your car for volunteering and ensuring drivers are not penalised following suspension of vehicle MOT testing.

“This is an unprecedented challenge and no country in the world offers extensive pandemic insurance to business. Governments need to work with insurers on solutions to this global issue. Insurance to cover all pandemics would be too expensive for most firms to afford. Millions of firms, large and small, rely on insurers to protect them against the day to day risks like fire, flood, and workplace injuries, on which insurers pay out over £22 million every day to help UK businesses continue trading.”

The ABI has issued an initial response to the Committee on Friday 27 March, which can be found below.

Notes for Editors 

Enquiries to:  

Malcolm Tarling                        020 7216 7410    Mobile: 07776 147667  

Laura Dawson                           020 7216 7338    Mobile: 0772 5245838  

Su Crown                                    020 7216 7412    Mobile: 0772 5245297   


  1. Please see the Coronavirus ABI Q and A at https://www.abi.org.uk/products-and-issues/topics-and-issues/coronavirus-qa/
  2. The Association of British Insurers is the voice of the UK’s world leading insurance and long-term savings industry.  A productive, inclusive and thriving sector, we are an industry that provides peace of mind to households and businesses across the UK and powers the growth of local and regional economies by enabling trade, risk taking, investment and innovation. 
  3. An ISDN line is available for broadcast 

Last updated 26/03/2020