Motor The Journal - "Insurance brokers in the dark as leading Irish insurance underwriter ceases trading"

[ClubMan]

Brokers in the dark as leading Irish insurance underwriter ceases trading

Tens of thousands of customers are expected to be affected.

www.thejournal.ie

INSURANCE BROKERS HAVE been left in the dark after prominent firm Footprint Underwriting gave notice that it has ceased trading on 2 January, without making any public statement.

Footprint Underwriting works with a network of Irish insurance brokers including First Ireland, Chill Insurance, and Campion Insurances to provide private car, home insurance and other personal insurance.

 

[Brendan Burgess]

So it does not appear to be an underwriter but an agent for an underwriter.

Leading Underwriting Agency | Footprint Underwriting

Leading Underwriting Agency

www.footprintunderwriting.ie

So if someone has paid their broker and the Footprint passed it on to the insurance company, their cover will continue.

But if someone has renewed recently, it's possible that Footprint has not yet passed on the premium.

I do not know what the law is. If an agent accepts the premium, is the insurance company liable for the cover?

 

[mathepac]

Nothing on the RTE web-site and no-one contactable, no phones being answered - the news has to keep strictly to civil service hours maybe.

This bit from The Journal announcement is worrying: "Footprint Underwriting works with a network of Irish insurance brokers including First Ireland, Chill Insurance, and Campion Insurances to provide private car, home insurance and other personal insurance."

 

[JoeRoberts]

Another indusance levy on the way for us so to pay for this.
Are we finished with the PMPA levy yet ?

 

[ClubMan]

Are we finished with the PMPA levy yet ?

Yes.

Insurance Levy

Insurance Levy Dáil Éireann Debate, Tuesday - 24 March 2015

www.oireachtas.ie

- A levy of 2% of gross premium income was introduced on 1 January 1984 following the collapse of PMPA in October of the preceding year. The levy was paid by all non-life insurers at this rate until 31 December 1991 and a reduced levy of 1% applied for the period 1 January 1992 to 31 December 1992, when it was discontinued. During these 12 years €186.3 million was collected.