Setanta Insurance - Guidance for Claimant
The Law Society has renewed its advice to solicitors and claimants involved in actions against Setanta Policy holders to join the MIBI as a party to proceedings. The Law Society renewed this advice on the 24th May 2014 via a press release by the Society’s President Mr John P. Shaw.
According to the Law Society, Mr Shaw has received advice that the Motor Insurers Bureau of Ireland (MIBI) will be liable for any shortfall in monies owed to claimants but is concerned that the MIBI may seek reimbursement of any monies paid by policy holders who are now effectively uninsured.
Setanta Insurance announced on the 16th April 2014 that it was going into liquidation.
The Motor Insurers’ Bureau of Ireland was established in 1955 by an Agreement between the Government and the companies underwriting motor insurance in Ireland for the purpose of compensating victims of road traffic accidents caused by uninsured and unidentified vehicles.