Friday, May 23 12:22:28
Customers of now defunct insurer, Setanta, this week received letters telling them their policies have been cancelled but they now face problems getting their no-claims bonus documents.
And Setanta customers will be reeling from the liquidation for many months to come, according to Johnathan Hehir, Managing Director at insuremyvan.ie.
He says the biggest issue they are facing at the moment is that their No Claims Bonus (NCBs) have not been issued by Setanta and as a result they are struggling to take out new policies with other insurers.
"While we never dealt with Setanta, we have been in touch with them on the issue and they have informed us that they will issue the relevant NCB documents but they have yet to say when these will go out – other than to say it will be soon. These delays are just causing added problems for effected customers. We realise that a very high percentage of these people need their van for day-to-day work and so, to combat this problem, we have made provisions whereby we will hold a policy for a person under the assurance that they will send us the relevant NCB document as soon as they receive it from Setanta," he said.
The announcement last month that Setanta was to go into liquidation has left an estimated 75,000 customers in Ireland without cover and some have to deal with the expensive consequences of outstanding claims.
"There is still a lot of confusion as to where policy holders now stand financially – and we really need clarity from the regulatory bodies as to how these people will be compensated. However, the given the speed at which things have progressed so far we would not be hopeful that this whole issue will reach a conclusion before the end of the Summer," added Mr Hehir.