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LONDON, May 18 (Reuters) - Lloyd's of London,
Hiscox and RSA are among donors to a new British
100 million pound ($121.19 million) insurance and long-term
savings COVID-19 support fund, the Association of British
Insurers (ABI) said on Monday.
The fund is being set up as insurers like Hiscox are under
attack from small businesses who say their claims for disruption
due to the virus have been declined, prompting the Financial
Conduct Authority to go to the courts for a decision on the
issue.
The fund has already received 82.5 million pounds in
pledges, the ABI said in a statement, with 20 million pounds of
the money pledged so far going to The National Emergencies Trust
to support charities tackling the effects of the virus.
The fund will also support charities helping the most
vulnerable and initiatives to promote wellbeing and mental
health, the ABI said.
($1 = 0.8252 pounds)
(Reporting by Carolyn Cohn, editing by Huw Jones)
