Vol. 547 No. 3
74 Mr. Finucane asked the Tánaiste and Minister for Enterprise, Trade and Employment the position regarding the response of the Government on the collapse of a company (details supplied); and if she will make a statement on the matter. [3372/02]
92 Mr. Boylan asked the Tánaiste and Minister for Enterprise, Trade and Employment if she has received a report regarding the consequences on the collapse of a company (details supplied); and the Government action planned in this regard. [3349/02]
102 Mr. U. Burke asked the Tánaiste and Minister for Enterprise, Trade and Employment if a proposal has been put to Government on measures to help the companies and individuals affected by the collapse of a company (details supplied); and if she will make a statement on the matter. [3410/02]
110 Mr. Yates asked the Tánaiste and Minister for Enterprise, Trade and Employment the position regarding the response of the Government on the collapse of a company (details supplied); and if she will make a statement on the matter. [3353/02]
116 Mr. U. Burke asked the Tánaiste and Minister for Enterprise, Trade and Employment the number of Irish companies affected by the collapse of a company (details supplied); the estimated value of outstanding claims; the number of claimants affected; the number of court cases to date; the number of court cases pending; and if she will make a statement on the matter. [3407/02]
I propose to take Questions Nos. 74, 92, 102, 110 and 116 together.
Independent Insurance Company Limited, IICL, is a UK-authorised insurer. Accordingly, responsibility for ensuring that IICL could meet claims from its policy holders lay with the UK authorities who were responsible for the financial supervision of the company.
The current position is that IICL is in provisional liquidation and the liquidation process will be dealt with under UK law. Companies with claims outstanding against IICL should pursue their cases with the provisional liquidators.
With regard to Irish policyholders of IICL, the Department of Enterprise, Trade and Employment has sought information on a number of matters, including the number and value of claims, breakdown of claims by category and amount of premiums paid to IICL. This information was sought from the provisional liquidators of IICL and from representative bodies in Ireland for the businesses affected. While some information has been received, it is still very incomplete and could not be relied on to give the full picture. Indeed, it appears that it may be extremely difficult to obtain final comprehensive information in view of the timescale that can be involved in claims actually being made and in settlement amounts being arrived at.
I appreciate the difficulties being faced by IICL policyholders. However, it would not be acceptable to burden Irish taxpayers with the inevitable cost that would be involved in meeting insurance claims resulting from the failure of this UK Company.
