Quinn Insurance - Here’s to the Regulator

YESTERDAY’S appointment of a permanent administrator to Quinn Insurance may, in time to come, be seen as a turning point on our road to recovery.

The company, realising it was in a very difficult situation, withdrew its opposition to the Financial Regulator’s application to have the provisional administrators appointed at the end of last month made permanent.

We can only guess if this point would have been reached if these difficulties had come to light some years ago, but it is very reassuring that the Financial Regulator has been able to get to this point.

We can only wonder how different our situation might be had the Financial Regulator, answerable to Taoiseach Brian Cowen when he was finance minister, been so determined and so well supported.