Insurers pay out nearly $238 million on COVID BI claimsPosted On: Apr. 20, 2023 10:14 AM CST
A spokesman from the Central Bank of Ireland said that insurers operating in the market had paid out more than €217 million ($237.7 million) on COVID-19 business interruption claims by the end of 2022, The Irish Times reported. However, an important upcoming ruling on insurer FBD Holdings PLC is expected to largely determine the final cost to the sector. In early 2021, Ireland’s High Court had ruled that FBD must pay four publicans for losses under lockdown-linked claims, in a decision that could affect over 1,000 pubs and restaurants.