Dáil
‹ Order of Business Setanta Insurance protections
Summary
Anthony Lawlor asks whether legislation will protect customers during the gap between the Solvency I and Solvency II regimes; the Taoiseach says the matter will be addressed in a Topical Issue debate.
Regarding Setanta Insurance, which entered into liquidation in Malta, the legal position is that the situation falls under the EU Solvency I directive. A further directive has been promised for 2016 to strengthen the regime for customers. Will there be legislation to cover the gap between Solvency I and the introduction of Solvency II in 2016, thereby preventing what happened to the customers of Setanta Insurance, a non-Irish-based company, from happening to others?
