Oireachtas Joint and Select Committees
Wednesday, 15 December 2021
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Insurance Issues: Engagement with Insurance Companies
Mr. Aidan Connaughton:
In very simple terms, we have ring-fenced all of the business interruption claims from Covid-19. We are monitoring any legal actions or results that unfold in the market. We respond on a monthly basis to the Central Bank in relation to business interruption claims, the status of those claims and also any changes to legal outcomes. We will continue to monitor the situation. In the event of a legal outcome impacting any of the existing notifications that we have already ring-fenced, we will go back and review all of those cases again in line with the Central Bank guidance.
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