The government's Treasury is working "very closely" with the Financial Policy Committee at the Bank of England to monitor the stability of the UK's financial system, as the economy remains closed in the fight against the Covid-19 pandemic.

"We’re working specifically on the question of insurance and impact on insurers from claims arising from a number of types of cover affected by coronavirus," Katharine Braddick, director general of financial services at HM Treasury said in evidence to the Treasury Committee.