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123.ie Car Insurance is it safe to take out policy ?

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  • 20-11-2013 4:28pm
    #1
    SIX PACK
    Closed Accounts Posts: 1,007 ✭✭✭


    After everything that is going on with this company that they are trying to sweep under the carpet - Royal & Sun Alliance Insurance Ireland has suspended three senior executives after issues with some Irish claims and finance functions were identified during a routine internal audit.

    Chief Executive Philip Smith, Chief Financial Officer Rory O’Connor and Claims Director Peter Burke were all suspended, although RSA said no findings have been made against any individual at this time.

    RSA said as a result of "these issues", it expects that its 2013 operating results will be £70m (€94m) lower than current market expectation.

    RSA owns and operates 123.ie in Ireland


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    #2
    A New earth
    Registered Users Posts: 551 ✭✭✭A New earth


    Took one out with them this week myself. Not worried about it as Parent Company is strong and put €100m in to cover shortfall.


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    #3
    kkelliher
    Registered Users Posts: 1,583 ✭✭✭kkelliher


    It is safe as they are covered by the insurance compensation fund so even if the worst happened (no reason to think it will) there is cover in place by the government to cover your policy up to the date of renewal


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