Open claim, trapped indefinitely?

DrPhilG

So I had a van insurance policy with Setanta in 2012. My wife had an accident, her fault, and because of this eternal BS argument about who is going to pay for the claims, I am now a hostage of my own car insurance policy.

I can't switch because she is a named driver and she has an open claim.

Aside from the frustration that I am suffering financially year on year, how would this work if we had 2 cars? Are all those who were insured with Setanta at that time now unable to get any insurance at all?

peteb2

What were the circumstances of the claim ? Injury or property damage ? Someone has paid at this stage

Skatedude

Who is going to pay for the claims dosen't matter, Once there is an open claim, even if the other driver has admitted liability and taken responsibility for paying from their policy .

You are still essentially blocked from getting a different or new policy You can only get a car that would be covered under your existing policy until the claim has been closed.

Sucks, But car insurance does suck, a lot

DrPhilG

peteb2 wrote: »

What were the circumstances of the claim ? Injury or property damage ? Someone has paid at this stage

The other party was a cyclist, so probably both. The cyclist had cuts and bruises and was treated in A&E. Not sure about damage to the bicycle.

She was apparently offered just over €10k while Setanta were still ticking, but refused. Then before a settlement was reached it all went tits up.

I've been in regular email contact with a guy who is involved with the liquidation process and handling all the outstanding claims. He says that the whole process is on hold awaiting the court process to pin the bill to the ICF or MIBI.

I mean what if I dropped dead tomorrow, (God forbid).

My wife would be unable to get insurance by herself so she would just be off the road???

9935452

DrPhilG wrote: »

The other party was a cyclist, so probably both. The cyclist had cuts and bruises and was treated in A&E. Not sure about damage to the bicycle.

She was apparently offered just over €10k while Setanta were still ticking, but refused. Then before a settlement was reached it all went tits up.

I've been in regular email contact with a guy who is involved with the liquidation process and handling all the outstanding claims. He says that the whole process is on hold awaiting the court process to pin the bill to the ICF or MIBI.

I mean what if I dropped dead tomorrow, (God forbid).

My wife would be unable to get insurance by herself so she would just be off the road???

Hiring a car would be an option
http://www.independent.ie/life/motoring/car-talk/it-makes-more-sense-for-me-to-rent-a-car-than-pay-skyhigh-irish-insurance-premiums-35431512.html

Corvo

I'd be pushing that guy pretty hard. It's five years on and you still haven't had resolution. Has he advised some form of reserve on the claim? Whilst it seems like a nasty claim, unless there are very serious injuries it should be sorted by now.

Liam McPoyle

Corvo wrote: »

I'd be pushing that guy pretty hard. It's five years on and you still haven't had resolution. Has he advised some form of reserve on the claim? Whilst it seems like a nasty claim, unless there are very serious injuries it should be sorted by now.

The problem is that there is no money to pay the claims.

The courts decided the MIBI should cover the costs.

The MIBI (rightly IMO) appealed the ruling as they exist to pay claims where no policy of insurance exists however at the time of all the incidents there was a valid policy operative.

So at the moment afaik the appeal is awaiting hearing.

It could feasibly drag on for a number of years.

punisher5112

The funny thing is the receiver found money as I was contacted late 2015 to say receiver could pay around 65% but then all of sudden our judges and court systems comes up with bright idea that mibi is 100% liable which is crazy.

I would understand 100% if the others had no money but they have funds available just not 100%.

Del2005

Rod Munch wrote: »

The problem is that there is no money to pay the claims.

The courts decided the MIBI should cover the costs.

The MIBI (rightly IMO) appealed the ruling as they exist to pay claims where no policy of insurance exists however at the time of all the incidents there was a valid policy operative.

So at the moment afaik the appeal is awaiting hearing.

It could feasibly drag on for a number of years.

Not that it makes much difference if the MIBI pay out or not since both options are funded by levies on insurance policies, so the court case is just wasting our money to see who gets to load our polices in the end. As usual the only people making money are the "legal" profession while the OP and others are stuck in limbo waiting for them to get as much from the trough as possible.

DrPhilG

Well my renewal email just arrived...

Up from €820 to €1530.

An increase of almost 90%. And there's not a damn thing I can do about it. Stung because of a lying bag and her fake injury claims, and trapped in the policy because the Setanta collapse prevents me from shopping around.

Absolutely gutted at the minute. It's not the price, I can take the money from savings. It's the unfairness of the whole thing. You have a crash, you pay your dues and move on. Nope, in my case you pay your dues and then continue getting shafted every year for the forseeable future.

CJhaughey

DrPhilG wrote: »

Well my renewal email just arrived...

Up from €820 to €1530.

An increase of almost 90%. And there's not a damn thing I can do about it. Stung because of a lying bag and her fake injury claims, and trapped in the policy because the Setanta collapse prevents me from shopping around.

Absolutely gutted at the minute. It's not the price, I can take the money from savings. It's the unfairness of the whole thing. You have a crash, you pay your dues and move on. Nope, in my case you pay your dues and then continue getting shafted every year for the forseeable future.

Have you tried contacting the declined cases committee of Insurance Ireland?
Its a long shot but a 90% jump and no way to shop around is a pretty bad situation.
From their website:

Insurance Ireland operates a Declined Cases Agreement, which is adhered to by all motor insurers in Ireland.

Under the agreement, the insurance market will not refuse to provide insurance to an individual seeking insurance, if he/she has approached at least three insurers and has not been able to obtain cover from them. In general, the insurer first approached will be required to provide the individual with a quote. It is therefore important that the proposer keeps a careful note of the order in which he/she approached each of the three companies.

Where an individual has held a policy within the previous three years, the insurance company concerned is obliged to provide the individual with a quotation. Again this is subject to the proviso that refusals have been received from three insurers (of which the previous insurer may be one).

The only grounds on which an insurer can refuse cover are where to provide insurance would be contrary to public interest.

The agreement is administered by a Committee made up of representatives of each of the companies who have signed the agreement. The Committee also includes a representative of the Consumers’ Association of Ireland and the Financial Services Ombudsman’s Bureau as external observers. If it is impossible to identify which insurer was the first approached for a quote, then a rota of insurers comes into effect and the Committee allocates the risk to the next insurer on the rota.

The Committee can also decide whether a quote is so high or the terms so excessive as to make the quote tantamount to a refusal, in which case it will review the matter.

For assistance regarding the Declined Cases Agreement, contact the Insurance Ireland’s Insurance Information Service - declined@insuranceireland.eu

Sue Pa Key Pa

He has a quote, the DCC will not intervene

punisher5112

Sue Pa Key Pa wrote: »

He has a quote, the DCC will not intervene

They will if they see evidence of such a high quote they will base it as a decline and look into the matter.

Sue Pa Key Pa

punisher5112 wrote: »

They will if they see evidence of such a high quote they will base it as a decline and look into the matter.

In the current climate, that would not be considered such a high quote.

I'm not saying it is fair, I'm just stating how it is

punisher5112

Sue Pa Key Pa wrote: »

In the current climate, that would not be considered such a high quote.

I'm not saying it is fair, I'm just stating how it is

Fully get you there but it is an avenue they could try.

Setanta, Quinn pmpa we are all paying for and will be forever more.

Serious issues with how insurance has been sold and still the rules and regulations aren't enough.

Companies have too much power and market needs to be opened up to more competition.

Fake and exaggerated claims need to be stopped also.

Sue Pa Key Pa

The market is open to those that want to join. We're seen as a basket case when it comes to compensation and avoid us.

Fake and exaggerated claims are an epidemic here. Every class, creed & colour are at it. Speaking from experience

DrPhilG

Unfortunately I agree, my premium is outrageous and unfair but I have not been declined insurance.

Others have suggested that I contact my local TD, or the insurance ombudsman. Not sure it would make a difference though.

Liam McPoyle

DrPhilG wrote: »

Unfortunately I agree, my premium is outrageous and unfair but I have not been declined insurance.

Others have suggested that I contact my local TD, or the insurance ombudsman. Not sure it would make a difference though.

The ombudsman does not get involved in disputes over premium.


As for TD's, ime its a waste of time contacting them.

Del2005

punisher5112 wrote: »

Serious issues with how insurance has been sold and still the rules and regulations aren't enough.

Companies have too much power and market needs to be opened up to more competition.

Fake and exaggerated claims need to be stopped also.

Read a few months ago that a big US insurance company, which has offices here for their other customers, gave back its licence to sell insurance. It had never sold a policy here but was looking to enter the market.

With the huge premiums we are paying there should be a stampede of companies rushing in to clean up, the fact that companies are pulling out tells a different story.