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06 May 2020 | 07:03

Direct Line sees ?44m hit from Covid-19 travel claims

(Sharecast News) - Insurer Direct Line said it expected to take a gross hit of ?44m, or ?25m net, in travel claims from the impact of the coronavirus pandemic, offset by a 70% fall in motor claims as people made fewer car journeys. The UK's biggest motor insurer said on Wednesday that it also expected to incur around ?70m of costs including supporting customers in financial difficulty, pausing all redundancies until at least the autumn and providing all NHS workers with free breakdown services.

Direct Line last month pulled its final 2019 dividend said it would make no changes to staffing until at least the autumn, as it assessed the damage that government shutdowns were having on the insurance industry.
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