Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

There are between 40,000 and 50,000 policyholders here whose insurance policies are underwritten by Qudos operating under the name Patrona Underwriting limited. On its website today, the company makes clear that people who have insurance with it should contact their brokers. The insurance industry has been in contact with brokers to ensure that people can transfer, free of charge, their premiums from Qudos to another insurance provider. Companies and individuals should do that without delay because Qudos has indicated it is not paying out on insurance claims. The actual issue around claims must be clarified, including whether the claims can be covered under an Irish or Danish compensation fund. The company is regulated by a Danish regulator rather than an Irish one.

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