Setanta-claim affected???

juliedxx

Hey folks, I am hoping I mite be able to get some advice/reassurance!
Basically in 2011 someone crashed into my husband, my husband sustained injuries and made a personal injuries claim against the other party. His case was only settled 3 weeks ago outside of court. His solicitor told him it would take approx 4 weeks to get the cheque.....but heres the problem.....the other party was insured with Setanta. Given they have gone into liquidation does anyone know if his settlement would be affected? Or in cases like this do they pay claims already incurred?
He has tried calling his solicitor but they have finished up for the long weekend so we are so worried the claim will not be paid!
Any advice greatly appreciated!

dudara

Moved to the Banking, Insurance & Pensions forum.

dudara

juliedxx

Can anyone shed any light on what the situation would be, given the claim was settled 3 weeks ago but just not paid yet??

Radharc na Sleibhte

Talk about falling between a rock and a hard place! Can you ring them and see if they have issued the settlement cheque? Even if they have......???? Boyng....!!!!

I myself have a claim outstanding against them for two years for a driver that mowed me out of it, but it's only reaching the final stages now in the next 6 months.

I really don't know where you stand. I don't know if anybody will until the issue gets resolved. It's all up in the air at the moment.

hallo dare

juliedxx wrote: »

Can anyone shed any light on what the situation would be, given the claim was settled 3 weeks ago but just not paid yet??

Contact your solicitor.

juliedxx

hallo dare wrote: »

Contact your solicitor.

We did! But out of the office until after the long weekend! As you can imagine we are fairly stressed about it its a sizeable sum of money for us. We are hoping that the fact the claim had already been agreed that they will pay up, from reading their website I interpret it it mean that claims incurred from now until when people cancel their policies may not be paid....but I could be wrong, hopefully not!

hallo dare

juliedxx wrote: »

We did! But out of the office until after the long weekend! As you can imagine we are fairly stressed about it its a sizeable sum of money for us. We are hoping that the fact the claim had already been agreed that they will pay up, from reading their website I interpret it it mean that claims incurred from now until when people cancel their policies may not be paid....but I could be wrong, hopefully not!

I understand your concern, but only your solicitor can advise on this, regardless of what anyone on or off the forum tells you.

Techwood123

If you don't get your cheque refer it to the motor insurance bureau, where uninsured claims should be dealt with. Either way you shouldn't be out of pocket, just might take longer if setanta don't pony up.

amdublin

Techwood123 wrote: »

If you don't get your cheque refer it to the motor insurance bureau, where uninsured claims should be dealt with. Either way you shouldn't be out of pocket, just might take longer if setanta don't pony up.

No guarantees on this.

Op best of luck, I am hopeful for you that because its been settled a few weeks okay itll be fine, but no one here can can tell you the exact situation.

Try not to worry about it over the weekend (easier said then done) and talk to your solicitor first thing Tuesday morning.

Good luck.

punisher5112

I am in same sinking boat op.

I was creamed out of it over 2 years ago and was injured by one of their insured drivers who then proceeded to drive off but was stopped by another driver, I had a witness from another car who he nearly hit also and that insurance company were absolute fools to deal with. So now im left still with a badly damaged car but thankfully my injury has healed at this stage.

They never returned any calls and every time I rang they would pretend they knew nothing about crash.

Maybe they knew back then they were going to run off with the money.

Also they weren't ever regulated in Ireland which imo seams absolutely crazy as they didn't have to answer to anyone.

aine100

We are in the same boat, but the claim hasn't been settled yet. I don't think anyone will insure us!! Apparently we are insured until Friday, but the broker was not sure.

juliedxx

Looks like there are many others in a similar situation to us so! Hoping that we will be ok since the claim was settled 3 weeks ago, Im hoping the cheque mite be in the solicitors office......
I think that they had to be regulated by the central bank to operate here, but just based in another eu state-Malta, as the reserve requirements in Ireland are much higher than other European countries......

Ken.

Some info for people
http://www.setantainsurance.com/frequently-asked-questions

5. What will happen if I have a claim?
The Company is not in a position to guarantee that claims will be met in full since all claims will be subject to the relevant liquidation process. More information will be provided by the liquidator in due course.

In the meantime, policyholders should continue to send correspondence regarding their claim to Setanta Insurance Services Limited:

Suite 6, Plaza 255
Blanchardstown Corporate Park 2
Ballycoolin
Dublin 15, Ireland
Phone: 0818 255 255 (if calling from outside RoI please dial +353 1 897 6300)
Email: support@setantainsurance.com

7. When should we expect to receive payment in regard to valid claims lodged with the company?

All payments of claims are currently suspended and payments may only be made after the liquidator has determined all the liabilities of the Company. This exercise is likely to take considerable time.

earkley

Hi,

I also have a personal injury claim that was just about to be settled - I spoke to a friend of the family, who is pretty high up in the motor insurance world, and he basically told me he would be VERY surprised if I managed to get anything now. Setanta were regulated in Malta and have been taken over by a Maltese liquidator so he wasn't a 100% sure but said don't hold your breath - if you hadn't cashed the cheque it has now been frozen. He did say they might give a % like paying 1 cent for every 1 euro of the original settlement - either way it doesn't look good :-(

peteb2

Setanta paid out into the Insurance Compensation Fund so no reason that they shouldnt eventually pay out from that post-liquidation. If your friend of a friend knew the basics, he'd know that.

juliedxx

Thanks for the replies, my husbands solicitor said on Tuesday that there shouldnt be a problem, that as the accident was in 2011 and settled a few weeks ago it should be fine. But then he called again today to say the defendants solicitor couldnt get confirmation from Setanta, and that we should have more news next week. He also mentioned the MIBI, so maybe they will end up paying it? We dont mind too much if theres a delay, as long as he gets it! Its been going on 3 years now so another few months wont matter. But just very worrying to think that he mite not get a penny after all this.

peteb2

juliedxx wrote: »

Thanks for the replies, my husbands solicitor said on Tuesday that there shouldnt be a problem, that as the accident was in 2011 and settled a few weeks ago it should be fine. But then he called again today to say the defendants solicitor couldnt get confirmation from Setanta, and that we should have more news next week. He also mentioned the MIBI, so maybe they will end up paying it? We dont mind too much if theres a delay, as long as he gets it! Its been going on 3 years now so another few months wont matter. But just very worrying to think that he mite not get a penny after all this.

The mibi won't involve themselves in this as the other party wasn't uninsured - the company just don't have funds. So don't hold your breath on that one.

juliedxx

peteb2 wrote: »

The mibi won't involve themselves in this as the other party wasn't uninsured - the company just don't have funds. So don't hold your breath on that one.

Yes, I thought that they were only for uninsured drivers alrite....sounds like we might be screwed so! He also mentioned issuing new proceedings against the defendant, im not sure what that would mean, another day in court im sure, and even then prob wouldnt make any difference, as Im sure the defendant wouldnt be able to pay out of his own pocket. Hopefully the liquidators will pay out eventually......were in for another long wait im sure....

mumof2littleang

Im in the same boat. My solicitor said not to worry. There's a big meeting this week and we will know more then. 😯😦

punisher5112

mumof2littleang wrote: »

Im in the same boat. My solicitor said not to worry. There's a big meeting this week and we will know more then. 😯😦

The meeting is tomorrow in Malta and it doesn't look good.

I was not insured with setanta but as I am claiming against them they sent me a letter about their meeting.

juliedxx

punisher5112 wrote: »

The meeting is tomorrow in Malta and it doesn't look good.

I was not insured with setanta but as I am claiming against them they sent me a letter about their meeting.

Can I ask when you received the letter? My husband hasnt received anything, perhaps his solicitor may have gotten something.....

punisher5112

juliedxx wrote: »

Can I ask when you received the letter? My husband hasnt received anything, perhaps his solicitor may have gotten something.....

Hi it was in post box on Monday just gone.

mercfisher

Hi Julie did your husband get paid in the end

juliedxx

mercfisher wrote: »

Hi Julie did your husband get paid in the end

Not yet, still heard nothing. Wont be holding my breath!

mercfisher

Julie , It is best to talk to your solicitor, however he might not be aware yet of a statement by Minister Michael Noonan about third party Setanta claims here's, a part of it below, the entire statement is available on kildarestreet.com, as an answer raised by a Kerry TD, Brendan Griffin.

"The Motor Insurance Bureau of Ireland ("MIBI") have indicated that they intend to accept all third party claims in connection to Setanta policies. MIBI is a non-profit-making organisation which was established by Agreement between the Government and those companies underwriting motor insurance in Ireland. The principal role of MIBI is to compensate innocent victims of accidents caused by uninsured and unidentified vehicles.
First party claims on personal insurance policies will be payable from the Insurance Compensation Fund (ICF) once Setanta is formally placed into liquidation. Claimants will be eligible for 65% of the amount due or €825,000, whichever is the lesser. Under Section 3.6 of the Insurance Amendment Act 1964 (as amended) first party claims by a body corporate or unincorporated body are not covered by the ICF.
The refund of premiums for commercial and personal insurance policies is not covered by the ICF or MIBI. A portion of the premium refunds may, however, be available upon completion of the Setanta liquidation.
Until otherwise advised those customers which have been affected by the collapse should continue to contact to Setanta Insurance Services Limited at 0818 255 255"
Hope that helps.

peteb2

I'd have to speculate that the reading of that is that MIBI will handle claims that happen as of 17th April when Setanta went bust. So anythign before that is still a matter for the liquidator until such time as they finish and it then becomes a matter for the ICF.

juliedxx

mercfisher wrote: »

Julie , It is best to talk to your solicitor, however he might not be aware yet of a statement by Minister Michael Noonan about third party Setanta claims here's, a part of it below, the entire statement is available on kildarestreet.com, as an answer raised by a Kerry TD, Brendan Griffin.

"The Motor Insurance Bureau of Ireland ("MIBI") have indicated that they intend to accept all third party claims in connection to Setanta policies. MIBI is a non-profit-making organisation which was established by Agreement between the Government and those companies underwriting motor insurance in Ireland. The principal role of MIBI is to compensate innocent victims of accidents caused by uninsured and unidentified vehicles.
First party claims on personal insurance policies will be payable from the Insurance Compensation Fund (ICF) once Setanta is formally placed into liquidation. Claimants will be eligible for 65% of the amount due or €825,000, whichever is the lesser. Under Section 3.6 of the Insurance Amendment Act 1964 (as amended) first party claims by a body corporate or unincorporated body are not covered by the ICF.
The refund of premiums for commercial and personal insurance policies is not covered by the ICF or MIBI. A portion of the premium refunds may, however, be available upon completion of the Setanta liquidation.
Until otherwise advised those customers which have been affected by the collapse should continue to contact to Setanta Insurance Services Limited at 0818 255 255"
Hope that helps.

Hes hoping to hear more from the solicitor next week, but I suppose until the liquidation process is finalised we wont really know whats happening!

mercfisher

earkley wrote: »

Hi,

I also have a personal injury claim that was just about to be settled - I spoke to a friend of the family, who is pretty high up in the motor insurance world, and he basically told me he would be VERY surprised if I managed to get anything now. Setanta were regulated in Malta and have been taken over by a Maltese liquidator so he wasn't a 100% sure but said don't hold your breath - if you hadn't cashed the cheque it has now been frozen. He did say they might give a % like paying 1 cent for every 1 euro of the original settlement - either way it doesn't look good :-(

Hi Earkley did your claim get settled ?

mercfisher

juliedxx wrote: »

Hes hoping to hear more from the solicitor next week, but I suppose until the liquidation process is finalised we wont really know whats happening!

Julie, did you hear anything from Setanta or Liquidator ?

punisher5112

I have kept at my solicitor but still nothing unless others have been lucky to.

juliedxx

mercfisher wrote: »

Julie, did you hear anything from Setanta or Liquidator ?

Nothing yet! Looks like its going to be a long drawn out process. The Solicitor will be in contact when he hears more but Im guessing that wont be anytime soon.