Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

With regard to the outstanding claims that are caught up in the Setanta collapse, Mr. Thompson knows it has been a real nightmare for many because claimants have been left short and left waiting to get all of their legitimate claims settled. Of course, policyholders have been really left there in the sense that they have been informed that, legally, they could be held personally liable for any shortfall, which could include judgments against them, judgment mortgages and so on. It has been a real nightmare for such people who bought a legitimate insurance policy here.

We now have the Government statement that 100% of the cost of claims will be met, so we have the 65% from the ICF and we will have some amount of money left over from the liquidation process eventually. What role do Insurance Ireland or its member companies have in the work-out of the remainder of these claims? Does Insurance Ireland have any role in ensuring this is dealt with efficiently and closed off quickly, and that all outstanding claims can be settled in full in a short period? Is it involved in any way in this process?