Central Bank says it is carrying out wide-ranging review of business interruption policies

The regulator is under increasing pressure to launch a tracker mortgage-style inquiry in the wake of High Court test case ruling

29th March, 2021
Central Bank says it is carrying out wide-ranging review of business interruption policies
Derville Rowland, the director of financial conduct at the Central Bank of Ireland, has said that the regulator is undertaking a review of business interruption insurance policies through a “system-wide supervisory examination”. Picture: Jason Clarke

The Central Bank of Ireland has insisted it is carrying out a wide-ranging examination of business interruption insurance policies, amid increasing pressure to launch a tracker mortgage-like inquiry.

In a test case last month, the High Court ruled that four publicans and about 1,300 more business owners with the same policy were entitled to compensation for losses suffered as a result of the pandemic.

The Central Bank (CBI) faced calls to launch a full-scale examination similar...

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