Strong Govt response needed to deal with insurance companies refusing business interruption cover – Cowen
20 March 2020
Speaking as it emerged that many insurance companies are refusing to provide business interruption cover to businesses affected by the COVID-19 crisis Deputy Barry Cowen said, “The response of the insurance sector to the COVID-19 crisis has been totally inadequate.
“It’s clear to see that many companies are attempting to abdicate their responsibilities when it comes to business interruption cover. It’s almost laughable that they are saying they will only provide cover for business interruption policies which listed COVID-19 by name.
“Covid-19 was only identified earlier this year and listed as a notifiable disease in Ireland on February 20th. Expecting a business to have it named in a policy stretches all credulity.
“While all parties and none continue to support the Government’s Public Health Policy and its implementation by HSE we are also dependent on the cooperation of various sectors such as Revenue, banks, Local Authorities, utility providers, landlords and insurance companies amongst others.
“The response of many has been commendable. Some continue to formulate responses and others are being questioned and improvements being sought by myself and other Public Representatives who have a duty to our electorate.
“I will continue to question the methods of the insurance companies who are relying heavily on their fine print to get them out of supporting businesses, they are acting contrary to the spirit which other sectors have in response to this crisis,” he concluded.