Danish insurer Qudos, which fell into liquidation last month, has been declared bankrupt by a court in Denmark.
As a result, the danish Guarantee Fund will now be expected to cover the costs of outstanding claims for the company.
Qudos has over 51,000 customers in Ireland,Irelands Insurance Compensation Fund could have been forced to pay the outstanding claims of the Irish holders of policies from Qudos, if the insurer had not been declared bankrupt before the end of this year.
Its products were sold through the Irish agent for Qudos Insurance, Patrona Underwriting.
Patrona said the news of the bankruptcy is awelcome one for Irish customers awaiting the settlement of their claims.
Tony Wright, Managing Director of Patrona, said the move …
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