Minister of State Fleming notes Court Judgment of Business Interruption Test Cases
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Last updated on
Published on
Last updated on
The Minister of State with responsibility for Financial Services, Credit Unions and Insurance, Seán Fleming TD, today (28 January) noted the judgment of the High Court in a number of test cases relating to business interruption insurance claims arising from COVID-19-related disruption.
Commenting on the judgment, Minister of State Fleming stated:
“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.”
The Court did not issue a judgment today in relation to the issue of the deduction of State supports from successful business interruption claims; however, it may do so at a later date. The case has been listed again for mention on 17 February.
Background note:
State Supports and Business Interruption Insurance Claims: