British insurer sues Irish financial watchdog after complaint ruling

Legal proceedings by Hiscox set to delay potential business interruption payouts for businesses hit hard by Covid

29th August, 2021
British insurer sues Irish financial watchdog after complaint ruling
Ger Deering: upheld decisions against three separate insurers, but did not divulge the names of the companies. Picture: Patrick Browne

Hiscox, the British insurer, has issued legal proceedings against the state’s financial services watchdog that is set to delay potential payouts for hard-pressed businesses already reeling from the Covid-19 pandemic.

The Business Post has learned that Hiscox launched its legal challenge against the Financial Services and Pensions Ombudsman (FSPO) after being informed of the ombudsman’s decision to uphold a complaint made against it over its handling of a business interruption (BI) insurance claim....

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