The Central Bank is to write to the insurance industry setting out how it expects insurance firms to handle the settlement of claims arising from the Covid-19 pandemic.
The regulator says firms must ensure that all claims are appropriately assessed and where there is insurance cover in place, that claims are accepted and paid.
The Central Bank's intervention follows complaints from some business owners impacted by the coronavirus crisis that some insurers are refusing to pay out on policies that include business interruption cover.
Peter Boland, director of the Alliance for Insurance Reform, said that it had been inundated with calls from small businesses that have had to close, thought they were covered by their business interruption
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