Insurance broker takes €17.6m action against solicitors

THE High Court is hearing a €17.6 million damages for negligence claim by an insurance brokerage against eight solicitors in the firm of Coakley Moloney Solicitors, South Mall, Cork.

The claims, which are denied arise from the termination by Hibernian Life Ltd of the insurance brokerage’s alleged contract with Hibernian Life and the alleged improper manner in which the solicitors dealt with this earlier litigation on behalf of the brokerage.

Emerald Isle Assurances and Investments Ltd and its two directors, who each hold a 50% shareholding of the company, have taken the proceedings, which are expected to continue into next week. The directors are Timothy Maverley, Clifton Grange, Douglas, Cork and and James Morey of Lindisfrarne, Seafield, Youghal, Co Cork.