MORE THAN 1,500 claims remain unresolved following the collapse of Setanta Insurance in 2014. Many people are owed large sums of money as a result of the situation, with one woman losing over €100,000 to date.
In May, the Supreme Court ruled that the Irish State must be held liable for the outstanding claims. The State’s Insurance Compensation Fund can only pay out 65% of a claim or €825,000, whichever is less. Many people have been left in limbo, fearing they could be liable for any shortfall in a claim against them.
The Law Society’s former president told TheJournal.ie the insurance industry should pay the shortfall, saying they’ve “already charged for it” with increased premiums. Insurance Ireland disagrees, with a spokesperson saying the organisation “accepts the decision of the Supreme Court as final”.
Insurance premiums have risen for many people in recent years, for a number of reasons.
We want to know: Did you car insurance premium increase this year?
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