New Central Bank of Ireland’s Covid-19 and Business Interruption Insurance Supervisory Framework

Beale & Co have closely monitored the Irish and UK’s insurance industry’s approach to dealing with policy response for Covid-19 related losses under Business Interruption (“BI”) policies and are instructed in a number of matters. The Central Bank of Ireland has in recent days published its Supervisory Framework in respect of Business Interruption Insurance.

In this article, Tara Cosgrove and Emmy Marshall discuss the key points of the framework and how  insurers should carefully consider the framework in dealing with business interruption notifications and claims going forward.