Insurance: Left between the Rock and a hard place
The collapse of Gibraltar-based Enterprise Insurance raises questions about the regulation of insurance
F rom an office on Irish Town, a street in Gibraltar’s commercial district, Enterprise Insurance – an insurer regulated by the Gibraltar Financial Services Commission – was selling insurance to customers in Ireland, Britain, Norway, France and Greece.
The location was ironic, perhaps, given that 14,000 Irish motorists are now in limbo after the wind-up of Enterprise, which sold motor cover here via Wexford-based Wrightway Underwriting, a subsidiary of insurance giant Zurich.
Enterprise’s ...
