Oireachtas Joint and Select Committees

Wednesday, 9 July 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Collapse of Setanta Insurance: Central Bank and Department of Finance

3:20 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

One of the big concerns I would have is that two thirds of Setanta's customers had commercial insurance. Of the 2,000 claims, which amount to €35 million, on average we could say that two thirds of them had commercial policies. However, there is a big question mark over whether a commercial customer would be entitled, under certain circumstances, to access the fund at all. Is it the case that if one is a non-commercial customer, one knows one can rely on the fund with its limitations of up to 65%? However, if one is a commercial customer, there is a question mark as to whether one will get paid from the fund at all at this point in time.

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