Analysis: FBD must weather increase in cost exposure to Commercial Court ruling

The insurer’s total bill from the business interruption debacle has rocketed from €54 million to €81 million in just four months

16th August, 2021
Analysis: FBD must weather increase in cost exposure to Commercial Court ruling
FBD has an estimated net bill stemming from the business interruption claims of €68 million, a jump of 20 per cent since April. It also has to deal with a €13 million provision for consequential payments stemming from rulings made by the Financial Services and Pensions Ombudsman. Picture:

Announcing its half-year results earlier this month, FBD sought to direct investors’ attention to the approaching finishing line for the business interruption saga which has blighted its business and reputation for almost 18 months.

The group pointed to the expected ruling of the Commercial Court in December on the quantum module of a landmark case taken, and won, by four publicans against the insurer.

This ruling, FBD said, would provide “clarity” on how much it...

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