Sunday August 9, 2020

Doherty presses Central Bank to clarify rules on forced closure

Sinn Féin’s Pearse Doherty warns of ‘reputational damage’ if regulator doesn’t ensure insurers cover business losses due to Covid

19th July, 2020
Pearse Doherty: “It is my view that the lack of action thus far taken by the Central Bank risks significant reputational damage to its role as regulator of the insurance market.”

The Central Bank risks incurring “significant reputational damage” if it does not do more to help businesses affected by the Covid-19 pandemic, Pearse Doherty has claimed in a letter to Gabriel Makhlouf, the bank’s governor.

In correspondence seen by the Business Post, the Sinn Féin finance spokesman sharply criticised the regulator’s approach to clarifying whether businesses had valid business interruption insurance claims.

In Britain, the...

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