Fianna Fail Want Central Bank To Tackle Insurance Issue During Covid-19

Some firms are using technicalities to avoid honouring policies.

A Midlands TD is calling on the central bank to issue guidance to insurance companies that are refusing to honour policies.

Robert Troy says some insurers are using technicalities to avoid paying some small businesses who had to close because of Covid 19.

He says he gathered data from a survey with over 500 SME companies replying in just 48 hours. 

Deputy Troy says over 78% of respondents say they wont be able to re open if they are closed for a prolonged period of time if no compensation is payed:

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