Mr. Antoine MacDonncha:

It is governed by section 3(6) of the Insurance Act 1964. If, for example, two company cars collide with each other, nobody is injured and physical damage is done to both of those cars, the insurance compensation fund would not pay out for any of the claim arising from that because there is no claim coming from an insured individual, or a natural person, nor is there any sort of liability towards an individual, or a natural person. It would not cover those circumstances but wherever there is a liability on the part of a natural person, which should be covered by a policy of insurance, or a liability towards a natural person, that is where the insurance compensation fund steps in.

If it is the case that a sole trader has an insurance policy in a personal capacity, if the sum is due to him or her as an individual, then even in the example I gave earlier where two company cars were damaged but no personal injuries arose, the fund could also step in in those circumstances.