Monthly Archives: May 2014

Setanta Insurance: Notice to Policyholders re Cancellation of Policies of Insurance

9th May 2014
At an Extraordinary General Meeting of Setanta Insurance Company Limited (the ''Company'') held on 16th April 2014 it was resolved that the Company surrender its insurance business licence to the Malta Financial Services Authority and be immediately dissolved. Furthermore at a meeting of creditors of the Company held on 30th April 2014 I was appointed as liquidator of the Company. Take notice that, all policies of insurance issued by or on behalf of the Company will be cancelled by way of 7 days' notice or 10 days' notice to policyholders in accordance with their policy documents. These Notices of cancellation shall be issued within the next seven days. I believe this to be in the best interest of policyholders as it avoids a situation where consumers would continue to drive vehicles insured...
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Families can reduce bill for health cover by thousands Charlie Weston, Personal Finance Editor – Published 12 May 2014 02:30 AM Families can save thousands of euro on their health insurance policies if they are prepared to pay a portion of any claim for treatment. The savings could mean families thinking of ditching their cover could afford to stay insured, Dermot Goode, of, said. All four health insurers offer policies with large excesses, but these plans are better value, he added. "If you are prepared to reduce the number of hospitals you are covered for, or maybe take on excesses and/or co-payments for private hospital treatments only, then you might be able to reduce your costs considerably," said Mr Goode. VHI, Laya, Aviva and GloHealth have responded to the succession of premium hikes by launching new options that are cheaper than typical family policies, but...
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All Setanta Insurance policies to be cancelled within ten days

About 40,000 vehicle owners who are customers of Setanta Insurance will have their policies cancelled in less than three weeks. The policy holders, most of whom have commercial vehicles, will be forced to buy new insurance cover from another company.  The Central Bank has said that the liquidator of Setanta has announced his intention to cancel all policies issued by the insurance company through a seven or 10 day day cancellation notice.  The cancellation notices will be sent to all policyholders within the next seven days and notices have also been placed in the national media.  Setanta Insurance, which was licenced by the Malta Financial Services Authority and sold car and van insurance in Ireland, collapsed last month. It had up to 75,000 policy holders here.    It had been in the process of winding up its business here since January,...
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