Up to 50,000 Irish insurance customers have been left with no guarantee of cover after an underwriting company shut down. Up to 50,000 Irish insurance customers have been left with no guarantee of cover after an underwriting company shut down. Cover for up to 50,000 insurance customers worthless as firm closesDanish company Qudos has gone into liquidation, with payouts on claims being put on pause. Setanta Insurance was regulated in Malta, while Enterprise Insurance, whose collapse also affected Irish customers, was regulated in Gibraltar. On the matter of "passporting", Insurance Ireland, a representative group for the insurance industry here, said it "strongly supports a well-functioning cross-border insurance market where customers can avail of insurance cover across the European Union".

Source: Irish Independent December 06, 2018 02:26 UTC