Ciara Conway (Waterford, Labour) | Oireachtas source

As Deputy Doherty outlined, we understand that more than 75,000 people who had policies with Setanta Insurance have been left in the lurch. Those affected are predominantly self-employed people. There is a question mark over the status of their insurance cover. Questions also arise about those who still owe money and what the position is in that regard.

I understand the liquidators are due to have a meeting this week. Will the Government be represented at the meeting? I have been contacted by a number of constituents about those who have outstanding claims with Setanta Insurance – people whose lives have been torn asunder because of road traffic accidents and injury at work who have been unable to work and who have sustained lifelong injuries and are currently awaiting payment. Will the claims Setanta cannot pay be met by the compensation fund, given that the insurer is not regulated in this country?

I understand that the Irish Brokers Association has called for a complete overhaul of the insurance regulation following the liquidation of Setanta. Mr. John Bissett, the association's president, said the system needs to be completely overhauled so that companies cannot simply pick the most lax jurisdictions. It is our job as legislators, and as a Government, to protect consumers. What we had was a company primarily owned by Irish people and principally based in Ireland selling exclusively to Irish citizens but regulated elsewhere.

I refer to the poignant case of a young woman who, along with her family, was hit by a drunk driver who was insured by Setanta. There were two fatalities in the accident and even though no money will replace those lives, she will be unable to work again because of the injuries she sustained and both her and her young son are without her partner. What will be done for these people?

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