Insurers set to oppose the return of state support cash to government

Zurich and FBD’s chief executives have said they will resist government attempts to recoup money deducted from insurance payouts to pandemic-struck businesses

23rd May, 2021
Insurers set to oppose the return of  state support cash to government
Anthony Brennan, the chief executive at Zurich Ireland, said Seán Fleming’s efforts could set a “dangerous principle” about who was and was not entitled to government supports.

Two of the country’s largest insurers are gearing up to oppose government efforts to recoup state supports given to businesses to keep them afloat throughout the pandemic.

The Business Post first reported last month that insurers were stripping thousands of euro from policyholders’ awards by deducting the value of state supports such as wage schemes and rates waivers, in a move which effectively used taxpayers’ money to subsidise their losses.

Seán...

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