Quinn Insurance gone into Administration

Anyone advise what we should do if you have a policy and a payment is due?

 

im insured with these how does this affect my policy anyone know??

 

run

 

car or all policies?i have house insurance with them!

 

i've had home insurance with these for the last 3 years,looks like i'll have to find someone else...

 

Edit: Was just speaking to one of the lads in work who deals with them -

They're ok supposedly and this is the regulator forcing them to play ball with regards to insolvency ratios!

 

Should be alright based on that, the administrators have also been told they can sell to new owners

 

Healthcare for me

http://www.rte.ie/news/2010/0330/quinn.html

 

go direct debit maybe?

 

I was down their recently doing an electrical power analysis and they have a brand new building in Cork and they are not going tits up. The sister works with them and they are up the walls, constantly recruiting etc so would be very suprised to see this happen.

 

my company just changed over to them recently from VHI at half the price, I knew that something wasn't right with it.

 

Car and helath insurance with them

 

Thankfully only have the bike insured with them

 

got offered a cheaper quote from them than axa this year but decided to go with axa. I was with quinn before and never liked dealing with them. IN my opinian very bad customer service!

Glad i went with axa now

 

Lads, it'll be business as usual with them for now so I wouldn't worry. The regulator (state) has taken over the business due to 'concerns', more than likely linked to Quinns involvement in the banking sh!t where he invested a load from the insurance funds (I think) so the insurance section of the Quinn group probably hasn't enough assets to cover its liabilities right now etc but that's not to say your insurance policies are now in doubt, they'll all be covered

 

Thats exactly what it is linked to, the insurance industry is very heavily regulated and they're a host of different liquidity measures that they have to be able to meet and they've breached one of them. The company will be fine, not sure what they'll do to raised the extra funds though, not sure its the right market for raising funds at all. A few years ago they could have just made a rights issue but not sure investors are interested at the moment.

 

Do you reckon they'll break it up and sell it off to other insurers? I live out in Blanch, they've a huge office out here and office a load locally, it would be a big hit to the area were it to go

 

I wonder will they continue to sponsor The Late Late?

 

From what Ive heard they are going to move everything to Cork, they have a new place there where there is space for an extra 300 or so staff and they will leave small offices around the country

 

Market is fully regulated and everyone will be ok. One thing for sure though is that the premiums will go up with all other insurers as time goes on.