Rose Conway-Walsh (Mayo, Sinn Fein)
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186. To ask the Minister for Finance to provide an update for publicans who are awaiting payment from insurance companies for business closure claims as a result of the pandemic; and if he will make a statement on the matter. [36125/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy will appreciate, as Minister for Finance I cannot adjudicate or comment on ongoing test cases in relation to business interruption insurance claims. This includes matters in relation to issues of quantum, which are still before the Courts. The Government’s consistent view has been that insurers should engage with impacted businesses honestly, fairly and professionally to honour the terms of the policy cover, in line with the Central Bank of Ireland’s Consumer Protection Code and other relevant regulations.

In this regard, I would note that the Central Bank of Ireland’s COVID-19 Business Interruption Insurance Supervisory Framework sets out its expectations of insurance firms in handling COVID-19-related business interruption claims. Where customers have an entitlement to claim under such a policy, my expectation is that these will be processed, paid promptly and in full.

The Central Bank of Ireland has stated that a number of insurers accepted and commenced settling claims as a result of its supervisory interventions, and I welcome recent data that as at 30 April 2022, more than €179 million has been paid to 5,482 policyholders through settled claims and interim payments. This figure includes 4,635 claims which have been fully settled, and 847 who have received interim payments.

The Central Bank of Ireland has indicated that it will continue to work in line with the Business Interruption Insurance Supervisory Framework, which sets out that where legal action results in an outcome that has a beneficial impact for similar customers, all relevant firms are required to take urgent action to ensure those customers benefit from the final outcome. While the vast majority of claims are now closed, I understand that the Central Bank of Ireland will continue to monitor the outcome of any remaining test cases in the Courts, including the FBD test case on quantum and will act swiftly should any of these judgments have a wider beneficial impact for similarly impacted groups of customers.