Insurers pay businesses €170m for claims related to Covid-19

Almost 5,500 policyholders have now been compensated, according to junior finance minister, but several cases remain before the courts

Seán Fleming, junior finance minister: 'It became clear on legal advice that it was not possible to legislate retrospectively.’ Picture: Fergal Phillips

Insurers have paid out more than €170 million to almost 5,500 policyholders in response to business interruption claims submitted during the Covid-19 pandemic.

Businesses have been battling to secure compensation from their insurers for losses sustained during the pandemic with several cases being brought before the courts to gain clarity on the cover provided by their policies.

The companies have now paid out €171 million in interim and final payments to 5,312 policyholders in response ...