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

20th June, 2021
Central Bank warns insurers to seek Covid-related test cases
The Central Bank has warned insurers that legal actions taken against them should be evaluated as test cases.

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...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Insurers to appoint and pay ‘independent’ experts who oversee compliance with law

Insurance Peter O'Dwyer 1 month ago

CCPC closes investigation into alleged cartel-like behaviour in insurance industry

Insurance Peter O'Dwyer 1 month ago

Aston Lark buys its fifth Irish broker this year

Insurance Peter O'Dwyer 1 month ago

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

Insurance Peter O'Dwyer 1 month ago