Ms Gráinne McEvoy:

There was a good deal in both questions so I hope I recall them correctly. First, with regard to business interruption insurance, from the outset we identified this as a key risk. As the Deputy knows, under Covid-19 we were prompt and acted very quickly regarding our expectations of insurers, setting those out clearly in March 2020 and developing the supervisory framework. We were clear in the framework that if there was any ambiguity, the insurer must at all times err on the side of the customer. That is an important point.

On the Deputy's point about test cases, we were clear that where individuals took test cases against insurers we expected that they would not be out of pocket as a result, that the insurer would be required to pay reasonable costs and, importantly, that the decision taken by the courts in the test case would be applied to all impacted customers, not just those who took the test case at the outset. Since the courts have opined and made certain rulings on the issue of business interruption, our key priority for last year and carried forward into this year is to ensure that firms are honouring and meeting our expectations. We have a dedicated team across multiple different skill sets in the Central Bank that is actively engaging with all firms that offer business interruption insurance and ensuring that they are meeting our expectations with regard to customer engagement and our expectation that if it is clear the cover is provided, they pay and pay promptly. If they are awaiting decisions of the court relating to quantum, interim payments are made in lieu of or in anticipation of final authority being provided by the judge in the court. I reiterate the point that any ambiguity errs on the side of the customer. They are important principles enshrined in our supervisory framework for business interruption. We continue to monitor and supervise. We have had good engagement with the sector. We know from our engagement with individual customers as well that the sector is meeting our expectations in many cases. However, this is something that will span a longer period. It will certainly span 2021. I stress that it is a key area of supervisory focus for the Central Bank, and that will continue. That is the first point.

On the second point, I may take that question away. I know, for example, that there is quite a lot of information floating around relating to insurance and claims. We have a national claims database, and there is quite a lot in terms of judicial review. To give the Deputy a more accurate response, if I may I will take that question away and commit to reverting to him.