THE REMAINING MOTORISTS affected by the collapse of Setanta Insurance will receive 100% compensation, totalling 21 million euro, according to new details from the Department of Finance.
In a response to a parliamentary question from Pearse Doherty, Minister Paschal Donohoe said the final payments will now be made by early November.
It is expected that those who have received 65% of their entitlement will receive the remainder. Approximately 1,500 will benefit by around €21m. Ongoing litigation cases will have to run their course however, Doherty said.
The Maltese based company collapsed in April of 2014 In the aftermath it was announced that those insured who had been struck by uninsured drivers would not be covered.
A number of court cases followed, leading to the Supreme Court, which ruled the state was liable for any outstanding insurance claims.
Minister Donohoe outlined the State Claims Agency’s payment timeline:
They have also advised this next tranche will comprise of new cases where 100% will be paid, all the cases where the balance of 35% is due, as well as a number of third-party legal costs payments.
In a statement Sinn Féin’s finance spokesperson Doherty said he hopes the long running saga will be over by year-end:
The final obstacle is the court process which I hope can be kept to the timetable outlined by the Minister to allow for this saga to be well closed by Christmas for the hundreds who have waited long enough.
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