Minister Notes Business Interruption Test Case Judgment
The Minister of State for Financial Services, Credit Unions, and Insurance, Seán Fleming, has noted the High Court’s judgment in a number of test cases relating to insurance claims arising from pandemic-related business disruption.
A statement published on Gov.ie included one from Fleming, in which he said, “As with the initial judgment last February, the findings are substantial and will take some time for all parties to consider. However, I note that the court has asked the parties to make every effort to resolve outstanding issues between themselves. This approach is to be encouraged, and where a contractual liability exists, the government expects that such claims are settled promptly.
“The government’s consistent view has been: insurers should engage with impacted businesses honestly, fairly and professionally, to honour the terms of the policy cover, in line with the Central Bank’s Consumer Protection Code. Separately, the Central Bank’s Business Interruption Insurance Supervisory Framework sets out its expectations of insurance firms in handling COVID-19 related business interruption insurance claims.”
Deduction Of State Supports
The statement published on Gov.ie added that the court has not issued a judgment in relation to the issue of the deduction of state supports from successful business interruption claims, but that it may do so at a later date, and that the case has been listed again for mention on 17 February.
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