Advice from Towergate Coverex for customers with Quinn Insurance policies

20th April 2010


based insurance broker Towergate Coverex today provided advice to customers who

may be concerned about the validity of their insurance policies underwritten by

Quinn Insurance.

This follows the Financial Regulator's decision to place Quinn Insurance

into permanent administration on Thursday 14 April.  Quinn has a

sizeable number of UK

customers particularly in indemnity, construction and fleet sectors, in

addition to its direct motor arm for UK customers.  Many of these

customers may be concerned as to the security of their policies underwritten by

Quinn Insurance and they will need to make alternative plans at renewal time in

any event.

Mark Clayton, Managing Director of

Towergate Coverex said, ‘Policies underwritten by Quinn Insurance should be

legally valid following the Irish insurer falling into administration.

 However we have been contacted by many customers who remain naturally

concerned about the impact the administration will have on their insurance and

risk management programmes.  In all cases customers should contact their

insurance advisers.’

‘Quinn was not a preferred insurer of ours but we do recommend a number

of financially robust and stable insurers on behalf of our customers.  So we are ready and

well positioned to provide professional advice to any local customer who may be

concerned about the status of their current insurance arrangement particularly

if their policy is due for renewal.’