Whoa! Averaging 66,000 Unique Weekly Readers! 

Local News

Insurance sector must play part in helping businesses recover from COVID19 – Archibald

1 Mins read
Caoimhe Archibald MLA
Caoimhe Archibald MLA
BT Coleraine

Sinn Féin MLA Caoimhe Archibald has said the financial services industry including the insurance sector must play their part in supporting businesses recover from the impact of COVID19.

The party’s economy spokesperson said:

“I recently wrote to the Finance Minister, as well as the Economy Minister, the British Chancellor and the Financial Conduct Authority in relation to insurance companies refusing to pay out to businesses impacted by COVID19 and specifically those insured against pandemics or business interruption.

“I welcome the response from the Finance Minister that he has raised this issue with both the Treasury and stakeholders in the insurance industry.

“The Treasury has confirmed that for those businesses that do have a policy for insurance that covers pandemics, that the government’s action to shut businesses is sufficient to allow them to make an insurance claim against their policy.

“While the Executive has no powers in relation to the insurance sector, significant steps have been taken by the Executive to support businesses including through the rating system with the three month rates holiday and also the Small Business Support Grant Scheme which offers £370 million in cash grants to SME businesses.

“I welcome assurances from the Minister that the Executive will continue to look at additional measures to support businesses during this difficult time and that he will continue to call on Treasury and the financial services industry to play their full part in helping businesses recover from the devastating impacts of COVID19.”

11406 posts

About author
An article that is attributed to the Causeway Coast Community Team has either involved multiple authors, written by a contributor or the main body of content is from a press release. Got a news-related tip you’d like to see covered on Causeway Coast Community? Email us - [email protected]
Articles
Related posts
Local News

Man threw 'month's supply' of drugs out of car window when he noticed police

1 Mins read
FacebookTwitterPinterestWhatsAppA MAN who threw herbal cannabis from a car after he was followed by police in the Ballymoney area said he had…
Local News

Sinn Féin welcome minister’s extraordinary Audit of Causeway Coast and Glens Council

1 Mins read
FacebookTwitterPinterestWhatsAppSinn Féin Councillors on Causeway Coast and Glens Council have welcomed an extraordinary audit of the council at the direction of Sinn…
Local News

Mayor of Causeway Coast and Glens Borough Council celebrates Ulster Scots Week

1 Mins read
FacebookTwitterPinterestWhatsAppThe Mayor of Causeway Coast and Glens Borough Council has celebrated Ulster Scots Week in Coleraine and Ballymoney. Alderman Mark Fieldling visited…