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When insurers stop trading here

goz83 · 2014-12-18 13:40:00

A similar question was asked about a claims and liability scenario if an insurance company went into liquidation. However, I am curious if any impact would be seen if the company was based elsewhere and stopped trading here. For example; Alpha Insurance (fake name) are based in London, England and have their headquaters…

18-12-2014 1:40pm

#1

goz83

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A similar question was asked about a claims and liability scenario if an insurance company went into liquidation. However, I am curious if any impact would be seen if the company was based elsewhere and stopped trading here.

For example; Alpha Insurance (fake name) are based in London, England and have their headquaters there since 2001. They started trading as Delta Insurance in the republic of Ireland in 2008 and decided to leave the Irish market in 2013. They continue to trade as Apha in the UK.

So, what happens with claims recently awarded, but not paid out?
What happens with claims pending?
What happens with claims not yet lodged?

I am curious, because it is quite different from a liquidation scenario and in recent times, trading arms have been withdrawn from Ireland, as recent as this year.

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