Gibraltar top base for overseas Irish car insurers | Car Insurance
Enterprise Insurance has 225 Irish claims at estimated cost of €6,200,000
While Enterprise Insurance Underwrote insurance in other territories, this is a staggering statistic. The average claim is € 27,500. This must mean that in its Motor Insurance book, the majority of claims were personal injury. This is a poor reflection on the legal framework in Ireland.
The insurer collapsed last week affecting 14,000 Irish customers.
Gibraltar is the top location for overseas companies selling motor cover in this State. It is the regulatory base for 11 out of 24 foreign companies registered with the Motor Insurance Bureau of Ireland (MIBI) to sell insurance through local agents under rules allowing EU firms to “passport” services to other member states.