IRISH COVID BI BILL MIGHT HIT €430M

Business interruption insurance claims in Ireland could hit €430m ($517.6m), according to Insurance Ireland. However, the trade association, which represents insurers in the Republic of Ireland, added the caveat that this estimate is subject to variability as the situation unfolds and claims develop. Insurance Ireland said the exact amount depends on all claims being received and processed. This remains ongoing, as businesses emerge from lockdown and submit their claims, which are then individually assessed. Close to €62m in general claims has already been paid out to customers, Insurance Ireland said. Some 9,175 claims have so far been received, of which 35% (3,227) have been accepted, 13% (1,222) are being assessed, 36% (3,264) did not have cover and 16% (1,462) were withdrawn by the customer.