| 15°C Dublin

Close

Premium

FBD lifts estimate of cost of fighting publican's Covid claims

Close

Incoming CEO of FBD, Tomás O’Midheach

Incoming CEO of FBD, Tomás O’Midheach

Incoming CEO of FBD, Tomás O’Midheach

FBD expects to have clarity this year from the High Court on whether it was right to refuse to pay out on publicans' business interruption cover.

The insurer raised to €30m yesterday its best estimate of potential costs of the cases. That is up from a previous precautionary reserve of €22m it had estimated and set aside in June.

In October, the High Court will hear four test actions taken by publicans who say the insurer failed to honour policies that included protection against business interruption as a result of an infectious outbreak when they were forced to close as a result of Covid-19.