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Firms face 'lack of cover' to claim for coronavirus losses

Isme warns on costs and layoffs as AIB cancels London event

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A woman wearing a face mask amid coronavirus concerns (Victoria Jones/PA)

A woman wearing a face mask amid coronavirus concerns (Victoria Jones/PA)

A woman wearing a face mask amid coronavirus concerns (Victoria Jones/PA)

LOSSES at Irish firms hit by coronavirus fears will often not be covered by insurance policies for business disruption, Isme has warned.

Neil McDonnell, CEO of the group for small and medium-sized enterprises, said members reading the fine print of their policies were discovering clauses that explicitly exclude cover for trade lost by contagious diseases.

"I've just had a business owner in the hospitality sector get on to me: 'I'm looking at my business continuity insurance and they've got me. They won't cover me for anything to do with a notifiable disease'," Mr McDonnell said.