Dáil Éireann Debate, Wednesday - 30 April 2014
923. Deputy Michael Healy-Rae asked the Minister for Transport, Tourism and Sport if he will ensure the MIBI fund will be used to cover person's policies following the collapse of Setanta Insurance (details supplied); and if he will make a statement on the matter. [19477/14]
View answerThe advice to people insured by Setanta Insurance is that they should obtain a replacement insurance policy without delay, as that company has stated that it is not in a position to confirm that claims will be met in full and as all claims are subject to the relevant liquidation process.
Insurance Ireland has advised that third party victims of collisions involving vehicles insured by Setanta should submit their claims in the first instance to Setanta, as detailed on their website. If such claims are not honoured by Setanta, they may be submitted to the Motor Insurers’ Bureau of Ireland (MIBI), an organisation established by the motor insurers, together with the relevant statement of denial from Setanta. The MIBI will handle such claims in accordance with the 2009 Agreement with my Department for the compensation of third party road accident victims of uninsured or unidentified vehicles. Copies of that agreement are available on the MIBI's website at www.mibi.ie. The MIBI will only act for third party victims in a collision if it is found that Setanta Insurance cannot honour claims against their policy holders.
