Image: Shutterstock/IsabellaO Image: Shutterstock/IsabellaO FBD INSURANCE PLC has set aside €22 million to cover potential costs in case it loses a test case brought against it by pub owners over whether their policies with the insurer covers the disruption in trade caused by Covid-19.
The owners all dispute FBD’s stance that the policy of insurance does not cover the Covid-19 pandemic, and claim that the insurer is acting in breach of contract. In a trading update this afternoon, the insurer said it remains “strongly of the view that our business insurance policies do not provide cover for a pandemic of this nature” but that a “precautionary reserve” of €22m had been made to cover costs that may be incurred.
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