Thousands of Irish drivers could have to wait months to find out if their insurance claims will be covered by the assets of bust provider Setanta Insurance, a Dáil committee was told yesterday.

Up to 75,000 people will have their car and van insurance cover cancelled in the next three weeks — even though they had paid premiums to Setanta Insurance.

The Irish Brokers Association is calling for a complete overhaul of insurance regulation after the liquidation of Setanta Insurance left 75,000 people uninsured.