Insurer pulls out of Irish market after Central Bank intervention

Zavarovalnica Sava is leaving the Irish market after the CBI said it was liable for business interruption claims stemming from the pandemic

17th October, 2021
Insurer pulls out of Irish market after Central Bank intervention
Pearse Doherty, the Sinn Féin finance spokesman, also called on the regulator to launch a tracker mortgage-style probe into BI claims. Picture: RollingNews.ie

An insurance company stopped writing business and pulled out of the Irish market after the Central Bank of Ireland informed it that it was liable for business interruption claims stemming from the Covid-19 pandemic, the Business Post has learned.

Zavarovalnica Sava, a major Slovenian insurer, stopped writing new business in Ireland earlier this year and has now begun pulling out of the market entirely, according to several sources.

The development represents another blow...

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