Central Bank told finance officials that insurers may have had to deduct value of Covid state supports | Business Post

Sean Fleming, Minister of State: among ministers to put pressure on insurers over the practice of stripping the value of state supports from payouts to businesses whose pandemic-related losses were covered by their insurance contracts. Picture: Fergal Phillips

Insurers may have had to deduct the value of state supports from awards paid to businesses in order to avail of their reinsurance cover, the country’s financial regulator advised the government last year. Insurance companies have been embroiled in controversy for months over the practice of stripping the value of state supports from payouts to businesses whose pandemic-related losses were covered by their insurance contracts.€-EUR

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Poor business practices in financial services pose risk to consumers, Central Bank warnsBest interests of consumers must be at heart of commercial decision-making, report says via IrishTimesBiz
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

Deutsche Bank to wind down its Russian businessDeutsche Bank, which faced stinging criticism from some investors and politicians for its ongoing ties to Russia, said in a surprise move that it would wind down its business in the country.
Source: RTEbusiness - 🏆 16. / 61 Read more »