It has now been announced by the Minister for Finance that the Motor Insurance Bureau of Ireland [ M.I.B.I. ] will accept all third party claims against insurance policies written by Setanta Insurance Company which has now gone into liquidation.
In addition first party claims on personal insurance policies will be payable from the Insurance Compensation Fund [I.C.F.] . Claimants in this category will be eligible for 65% of the amount due under the claim or €825,000 whichever is the lesser amount. First party claims by a corporate entity [limited company] are not covered by the I.C.F.