THE IRISH COMPANY that sold policies on behalf of Gibraltar-based Enterprise Insurance has said it will refund customers.

The insurance firm was declared insolvent on Friday. It has around 14,000 customers here.

Wrightway Underwriting, which is based in Wexford and owned by Zurich Insurance, issued a statement on the situation today.

The company said it is “committed to helping its broker clients deal with affected policyholders and … has decided to make an ex-gratia payment to its brokers to pass onto their policyholders which is equal to the value of the premiums from now until the end of their current policy contracts”.

Wrightway said it has worked closely with the Irish Brokers Association to set up the deal.

Wrightway’s action will ensure that policyholders receive a payment to put towards the cost of replacement cover, following Friday’s announcement. With the benefit of this ex-gratia payment, brokers can seek out an alternative insurer of their choice for affected policyholders.

Wrightway said it won’t be making any further comment at this time, and policyholders have been advised to contact their broker for further information and advice.

Read: 14,000 Irish motorists at risk after collapse of Gibraltar-based insurer

Read: This is how drivers will be protected if a motor insurance company collapses

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