Setanta Insurance victims ‘not guaranteed’ 100% of claims

Victims of the Setanta Insurance scandal are not guaranteed to receive 100% of their claims, it emerged in the Dáil yesterday.

During Finance Questions, junior minister Michael Darcy said he could not guarantee full repayment to the near 1,600 victims, but he and his officials would do “their very best” to ensure the best possible return.

He said the High Court can order payments out of the Insurance Compensation Fund up to 65%, or €825,000, whichever is the lesser. The liquidator has confirmed to the department that, as of June 20, the number of open claims is 1,578.