Central Bank warns insurers to seek Covid-related test cases
Regulator intervenes as tens of thousands of firms fight insurers for Covid-related business interruption payouts
The Central Bank has written to insurers warning that legal actions taken against them should be evaluated as potential test cases “at the earliest opportunity”.
In correspondence seen by the Business Post, the financial regulator told insurance companies that it could also compel them to produce their analysis of whether an action was suitable as a test case.
It marks the regulator’s latest intervention in an industry-wide dispute over business interruption...
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