BoI pulls out of motor insurance sector

BANK of IRELAND is pulling out of the Irish motor insurance market but says no forced job losses will result following the closure of its Premier Direct Insurance motor section.

The 30 people employed in the section will, according to the company, “be offered alternative positions within the Bank of Ireland Group”.

IBOA general secretary Larry Broderick last night instructed his members not to co-operate with the bank’s proposals. “We are looking for an immediate meeting with management of this move which has serious implications for our members right across Bank of Ireland.”