BUPA to be sold to businessman Quinn

no equalisation payments to make for the next 3 years

300 jobs saved and competition back, just in time for the upcoming election! - phew, weren't we lucky.

What happens after 3 years? - I wonder whose go it will be then?
 
Quinn can hardly operate a business for too long with "British" in the title, can he? Roll on FUPA?
 
Harney passed the buck about the three Years controversy-'o that's up to the Health Authority'.

At least we know if after the three years the BUPA worker's are then made redundant the three year's will count for reckonable service.
 
Re: quinn to take over bupa

http://www.rte.ie/news/2007/0131/bupa.html
very interested in the line that says as a new entrant quinn will have no equalisation payments to make for the next 3 years. what's to stop quinn selling back to bupa or to hibernian in 3 years time?
Surely seeing as he's buying an existing business, with an existing client base, they're not a new entrant. I know that Bertie and Mary were trying to fudge the issue on the news as if some other committee runs the country but if this unelected committee "pretends" the Bupa business is a new entrant it'll be hilarious. The subsequent breakdown of their risk equalisation and therefore the community rating might not bode well for the election, more in that they won't look like they know what they're doing at all.
 
Great to see Hook, Coopper et al seeing the bigger picture and asking the tough questions.

The HIA are in the High Court tonight apparently seeking an injunction
 
Listening to RTE now, Quinn are buying BUPA Ireland Ltd., an insurance services company which does not have a license. The parent BUPA company has the license. Quinn don't have a license, so they have to apply for a license, and are thus a new entrant to the market. BUPA can't benefit from buying it back in three years, because they already have a license and wouldn't be a new entrant. We'll see if this stands up!
 
I was actually interested in what opinion the opening poster had about the story (perhaps my reference to posting guideline 17 was a bit cheeky, but also cheekily deleted)

"what's to stop quinn selling back to bupa or to hibernian in 3 years time?"

Why would BUPA want back in in 3 years time?
 
ClubMan, are you guilty of not abiding by the posting guideline #17?
I was actually interested in what opinion the opening poster had about the story (perhaps my reference to posting guideline 17 was a bit cheeky, but also cheekily deleted)

"what's to stop quinn selling back to bupa or to hibernian in 3 years time?"

Why would BUPA want back in in 3 years time?
17. Posts with links only may be deleted

Posts containing only links with no associated commentary or expression of an opinion may be deleted. The purpose of AAM is to encourage reasoned discussion. Unfortunately some people have resorted to simply posting links to articles with no accompanying commentary, expression of an opinion or overall contribution to the substantive discussion. In many cases such posts seem to made simply to cause controversy. Where this is suspected to be the case such posts will be deleted. Where the link seems to be posted in good faith and makes sense in the context of the ongoing discussion the post will not be deleted.
There has been an ongoing discussion across several other threads about the BUPA situation. The news link is pertinent and I don't think that further commentary was necessary. I don't really hve an opinion on the issue but wanted to alert other interested readers to developments.
 
I switched to VIVAS a couple of days, but now wish to stay with BUPA/ Quinn. Does anybody know if there is a way out? a cooling off period?
 
The documentation that you got should outline whether or not a cooling off period applies. Even if it doesn't then I can't see why there should be any hassle in switching back if you decided to do so. Well - other than some administrative hassle.
 
Pico

You can move back to QUINN/BUPA at any stage if you are paying monthly and by right if you are paying annually you should be entitled to a pro-rata rebate

Bedlam
 
Listening to RTE now, Quinn are buying BUPA Ireland Ltd., an insurance services company which does not have a license. The parent BUPA company has the license. Quinn don't have a license, so they have to apply for a license, and are thus a new entrant to the market.
If this is upheld, then I can see BUPA being sold on this basis every 3 years. Is there any guarantee they'll be awarded a license?
 
I'd say the Quinn buyout is conditional on getting a new license and the same three year exemption. It gives the Government/Regulator a way of "saving" the jobs, without being seen to back down, so I think it will go through.

Yes, it could set a precedent for three years from now. However, the makeup of the market could be very different then, with VHI subject to the same solvency requirements as Vivas and Bupa/Quinn, and possibly even privatised. At that point the Government would be free to remove the three year exemption from risk equalisation payments, preventing a reoccurrence.
 
At which stage BUPA could re-enter without paying risk equalization (although they may not choose to do so after the damage to their reputation caused by pulling out).

If the scenario pans out as MugsGame suggests, BUPA look like the victim, as it looks like they were forced out due to the government's slow pace of privatization of VHI.
 
At which stage BUPA could re-enter without paying risk equalization

Only if risk equalisation is removed completely -- not beyond the bounds of possibility. BUPA claim that, while the legislation allowed for risk equalisation when they entered the Irish market, it was not in force at the time and nobody really expected it to be introduced unless VHI were close to bankruptcy.

If BUPA come back in three years, they will not be a first time entrant, so won't get any initial exemption. They could setup a new subsidiary applying for a license, but if that would work, they'd have done it now instead of selling out to Quinn.
 
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