Press Release - 16 October 2007

Ombudsman not to appeal High Court judgment in the Quinn Direct Insurance case

Financial Services Ombudsman, Joe Meade, has decided not to appeal the recent High Court judgment in the case taken by Quinn Direct Insurance against a general direction made by him to refund all affected customers a €25 administration charge for changing car insurance. He has asked the Minister for Finance to consider whether a legislative change is warranted. The Ombudsman’s decision in the specific complaint was not appealed by Quinn Direct and therefore stands. Other customers of Quinn Direct who feel that they were similarly affected can lodge a complaint with the Ombudsman and it will be dealt with in line with his normal procedures.

In the light of the judgment, the Ombudsman will consider, with his legal team, the effect (if any) on other general directions given - particularly, that direction given to Ulster Bank Investments Funds Limited, which is also the subject of Court proceedings. The Ombudsman’s general direction of February 2006 to Ulster Bank Investments Funds Limited was to compensate investors following decisions made by the Ombudsman in eight complaints.

Further information

Diarmuid Byrne (6318561) or Gemma Normile (6318569)
Financial Services Ombudsman,
3rd Floor,
Lincoln House,
Lincoln Place,
Dublin 2.
Lo call 1890 88 20 90
Tel: 01-6620899
Fax: 01-6620890

Email address enquiries@financialombudsman.ie
Website address www.financialombudsman.ie