Could Quinn downfall trigger a hard market?
The Irish Financial Regulator's decision to stop Quinn Insurance writing new business in the UK could kick-start a return to a hard market, industry experts have claimed.
Following an application by the regulator, the High Court has appointed joint provisional administrators to Quinn Insurance, in a move that it said would "better protect policyholders".
While Quinn's Irish customers can continue to renew policies, carry out new business and make claims as normal, the regulator has directed the insurer to cease writing new business in the UK. It added that existing UK policyholders would "not be affected by this decision" as existing policies remained valid and
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