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Thread: Financial Regulator fines Quinn Insurance

  1. #1
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    Default Financial Regulator fines Quinn Insurance

    Just heard it on RTE radio at 3pm and found this link to the story on the irish times site

    Financial Regulator fines Quinn Insurance 3m - The Irish Times - Fri, Oct 24, 2008

    So what do you think regulator trying to reverse the damage done to it in the press in recent weeks?

    It's a hell of a fine. obviously not much by mr quinns status but i think its the biggest the financial regulators given out and getting sean to resign as chairman and fining him 200k personally definetly seems like hardball tactics.
    Last edited by David Cochrane; 24th October 2008 at 05:09 PM. Reason: constitutionus has never heard of capitals, it would seem.

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    Politics.ie Newbie coc's Avatar
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    Maybe Quinn will pay the fine in Anglo-Irish shares?

    Going ... going ... gone!

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    Monstrous but regretably all too predictable news.

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    Politics.ie Member Supermanpolitician's Avatar
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    Got utterly screwed over by Quinn Direct a few months back. Since then transferred car insurance, health insurance and home insurance to different providers. Also refused Quinn Healthcare in my last job (cost me extra with VHI) and normally I am all about the bottom line, but their practices are not something which I find nice.

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    Why did it take almost 11 months for the supposedly largest private company in Ireland to post results.

    Quinn cribbing about the size of teh fine is insane and i'd say the Regulator will be furious at this defiance.

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    Politics.ie Member Victor Meldrew's Avatar
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    Quote Originally Posted by Supermanpolitician View Post
    Also refused Quinn Healthcare in my last job (cost me extra with VHI)
    I did the same. My comment to HR was along the lines that I actually need health insurance as opposed to a BS lifestyle product. as for car insurance, i'm old enough for that to be cheaper than heath insurance, so i never had to touch them thankfully.

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    Politics.ie Member Supermanpolitician's Avatar
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    Quote Originally Posted by Victor Meldrew View Post
    I did the same. My comment to HR was along the lines that I actually need health insurance as opposed to a BS lifestyle product. as for car insurance, i'm old enough for that to be cheaper than heath insurance, so i never had to touch them thankfully.

    I used to get screwed on car insurance in my younger days but got slightly less screwed by Quinn although I was still paying 1800 punts when I stareted. I am actually getting better cover at a lower rate with FBD now.

    As for healthcare, never needed it but if they operate their healthcare the same way they operate their car insurance, I don't want to risk it.

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    Interesting given the breaking news on Sean Quinn that Morgan Kelly chose to include the following in his IT article today.
    "It is worth recalling that the last time Ireland's wealthiest businessman and his dodgy personal bank got into financial difficulties - Patrick Gallagher and Merchant Banking Ltd in 1982 - both were allowed to go bankrupt. Gallagher eventually did two years for fraud in Crumlin Road Prison, Belfast"

    Clearly he was drawing a thinly veiled parallel with Quinn.

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    Quote Originally Posted by Anorakphobia View Post
    Clearly he was drawing a thinly veiled parallel with Quinn.
    It was pretty thinly veiled alright

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    so thin that maybe theres more to come prehaps?

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