Today the High Court confirmed the Motor Insurers Bureau of Ireland is liable for claims against the policyholders of the insolvent insurance company, Setanta. The judgment means that the estimated 1700 outstanding claimants can now look to the MIBI to meet their claims.
Director General of the Law Society of Ireland, Ken Murphy, said, “This ruling provides a route to justice for people who have suffered injury and loss, in many cases this has been life-changing, through no fault of their own.”
“This is good news for Setanta’s former policyholders, injured claimants and their solicitors who have been in limbo for the past 17 months not knowing whether their legitimate claims would be paid. We’re pleased that this judgment now provides some certainty. The compensation to which victims are entitled under court awards or settlements can now be paid in full as justice demands.” said Ken Murphy.
“The President of the High Court, Mr Justice Nicholas Kearns, had directed that the Law Society of Ireland should act as the claimant while the MIBI should be the respondent. The Law Society argued that the MIBI was liable to pay court awards and settlements in full in these cases under the terms of the MIBI’s agreement with the state.”
“When a person is injured or suffers loss through no fault of their own they need to be assured that their rights will be protected and that, if they are in an accident, their claim will be paid. This is the protection we all expect.”
It was announced on 16 April 2014 that the Malta-registered insurer was going into liquidation.