Oireachtas Joint and Select Committees

Wednesday, 1 April 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Setanta Insurance Liquidation: Discussion

2:00 pm

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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Deputy Doherty teased out the issue of the bureau and that, depending on the outcome of the case in the court, the bureau may be 100% liable.

That is a matter of speculation. If it is not, the insurance compensation fund, ICF, liability is capped at 65% and the liquidator cannot make any payments to claimants until all the cases have been concluded and there is absolute certainty about the total liability.