FBD sees reduction in Covid pay-outs to pubs following court decision

It comes as the insurer reported pre-tax profits of €110m compared to €4.8m in 2020

FBD has already made interim payments of €30m to claimants for interruptions to their pub business caused by Covid-19. Photo: Denis Minihane.

FBD said it now expects to make €44m in business interruption claims to pubs impacted by the Covid-19 pandemic, following clarity from the courts on a range of issues.

The figure is a significant reduction from what was previously estimated and FBD said it has passed some of the costs onto its re-insurer. The insurer has already made interim payments of €30m to claimants and said a court judgement in January provided considerable clarity on the definition of business closure and on other matters such as allowable wages.