FBD lost out in early 2021 as the High Court ruled in favour of four publicans who challenged its previous refusal to pay out on its pubs policy. It had paid out €35 million as of the end of last year, mainly by way of interim payments, to hundreds of publicans affected by the decision. All told, the test cases have implications for more than 1,000 pubs and restaurants.
The two cases – involving companies behind the Leopardstown Inn in Dublin 18 and Sinnott’s Bar in central Dublin – are listed for a potential judgment from Mr Justice Denis McDonald on April 26th. Meanwhile, RSA Insurance Ireland, one of the other main insurers hit by business interruption claims stemming from the pandemic, said in its latest so-called solvency and financial conditions report for 2022 that its total costs from the issue are expected to amount to €75 million.
While the total figure is unchanged from estimates in the company’s 2021 SFCR, the net hit has increased from €9 million, previously.