GFSC rebuts insurance claims in Irish press

GFSC rebuts insurance claims in Irish press

The Gibraltar Financial Services Commission has acted swiftly to rebut derogatory claims about Gibraltar insurers made yesterday in Ireland’s two leading newspapers.
The reports, which suggest that the Gibraltar regulator is not ‘up to scratch’ where insurance of Irish motorists is concerned and has been lax in allowing three more Gibraltar-based motor insurers to do business in Ireland, have angered the local insurance industry.
Such allegations were groundless, Gibraltar Insurance Association’s chairperson Liz Quinn told the Chronicle.
Before noon yesterday a statement from the Commission’s CEO Samantha Barrass giving a more accurate picture of the GFSC’s relationship with Ireland’s Central Bank (CBI) had been sent to the Irish Times and the on-line edition of the Irish Independent, whose reports cast the Rock’s financial services in a potentially harmful light. The on-line edition immediately corrected some of its inaccuracies, the Chronicle was told.
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