Quinn in Administration

Oscar_The_Grouch

There's also a climbdown by Quinn and a "thank you for backing off" from the Regulator on the same site. I think the Regulator will agree to reopening the UK market to support the "going concern". That should facilitate the sale of the business to an insurer and save lots of jobs.

I'll be interested in seeing if I'm right and for the sake of the employees who have been shafted by Mr Quinn, I hope so.

cogito

Oscar_The_Grouch wrote: »

There's also a climbdown by Quinn and a "thank you for backing off" from the Regulator on the same site. I think the Regulator will agree to reopening the UK market to support the "going concern". That should facilitate the sale of the business to an insurer and save lots of jobs.

I'll be interested in seeing if I'm right and for the sake of the employees who have been shafted by Mr Quinn, I hope so.

What is there to buy and who is going to buy it? An underpriced book of high risk business with questionable claims resrves isn't the most attractive proposition.

dacouch

cogito wrote: »

What is there to buy and who is going to buy it? An underpriced book of high risk business with questionable claims resrves isn't the most attractive proposition.

It sounds like the ideal purchase for Lloyd's Bank or the Irish Government

dacouch

Incoming news...Quinn have appointed Carol Vorderman to the board of directors and she has come up with a solution already clicky

shaz77_2

Quinn have re-entered the UK market for provisional drivers with motor car policies.

http://www.rte.ie/business/2010/0421/quinn.html

cogito

The regulator said the decision was taken after careful consideration and analysis of information provided by the administrators of Quinn Insurance in relation to important improvements in its underwriting model and significant strengthening of its pricing structure.

So they were selling their product too cheaply. Fancy that.

dacouch

shaz77 wrote: »

Quinn have re-entered the UK market for provisional drivers with motor car policies.

http://www.rte.ie/business/2010/0421/quinn.html

Ermmmm what business can we make the most money on really quickly to pay our creditors off. Ahhha I know lets just cover provisional drivers, we can do what we normally do and quote a low premium and not tell them we ask for a massive extra premium with 10 days when they ring us to tell us they have passed.

The advice about Quinn is still the same, remember what your mum told you about terds and how they can't be polished...

huckster

If regulator clearance is to underwrite cover for provisional licence holders only, surely as soon as people pass their tests, Quinn would have to cancel immediately or at renewal ?

If I were a provisional licence holder, I don't think I would take the chance of going to a company in administration, where the future continuity of the policy is in doubt.

adrian41r

my son has just passed his test and his instructor informed me that he thought Quinn had gone bust. when i phoned to update his insurance from prov - to full they only wanted £400 so in total it was about £1200 for the year. when i checked the comparison web sites to see how much others they were £4000. so i dont agree with the last post that suggests that they give cheap insurance for learners and then tries to get you when you pass. I know you get what you pay for but when there is such a huge difference the only choice i had to insure my son was legal when driving was the Quinn option. Even if they dont pay out the car only cost me £1500 so i am still saving. Does this not show how much some insurance companies ar making on young drivers and that it can be done cheaper if not to the level of quinn but at least less than £4k.

former_student

dacouch wrote: »

Ermmmm what business can we make the most money on really quickly to pay our creditors off. Ahhha I know lets just cover provisional drivers, we can do what we normally do and quote a low premium and not tell them we ask for a massive extra premium with 10 days when they ring us to tell us they have passed.

The advice about Quinn is still the same, remember what your mum told you about terds and how they can't be polished...

Why do you start all your posts with Ermmm?

Do you have an ailment or as I suspect you are a Broker?