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FBD s legal bid could shut down regulator

Insurance company FBD has been accused of trying to prevent the financial services ombudsman from investigating complaints. Financial Services and Pensions Ombudsman Ger Deering said if FBD succeeds in a legal action against his office it would have “a very profound impact on our ability to investigate certain complaints”. FBD’s action is seen as an unprecedented challenge to the statutory powers of the ombudsman. At the end of last year, FBD Insurance Plc secured permission from the High Court to seek to have the ombudsman’s investigation of a publican’s complaint over the insurer’s refusal to pay out for a Covid-19 business interruption claim judicially reviewed.

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