Responding to the Association of British Insurers’ (ABI) figures which shows insurers are expected to pay up to £2.5 billion for Covid-19 related claims Craig Paterson, Chief Underwriter at Royal London, said:
“Despite 2020 being an unpredictable year, we continued to pay claims promptly and support our customers through Covid-19. The pandemic has shown the importance of having protection and while receiving a pay-out can help to ease the financial strain of bereavement or illness, money can’t always ease the emotional strain. Royal London protection policies bought through a financial adviser come with a Helping Hand service which provides customers and their families with access to a dedicated nurse who is able to give tailored and personal support to get them through a difficult time.”
Notes to Editors
Royal London’s Covid-19 claims data is from 1 March to 31 December 2020 and shows:
- £13.1 million was paid for Covid-19 claims
- The total number of claims paid for Covid-19 was 2,118.
- Helping Hand provides customers and their families with a dedicated nurse who is able to give tailored and personal support regardless of whether they are making a claim against their policies or just need some practical and emotional support to get them through a difficult time.
- Data from Helping Hand shows that in 2020, cancer was the biggest reason for nurses providing support, accounting for 19% of the support being offered to customers. This was followed by support for bereavement (18%) and mental health (14%).
More details on Royal London’s Covid-19 claims can be found here.
About Royal London:
Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £139 billion, 8.6 million policies in force and 4,348 employees. Figures quoted are as at 30 June 2020.