On 1st of October 2024, the Irish Motor Insurance Bureau (MIBI) announced that in 2025 the contributions payable by the insurance companies to the Motor Insurers’ Insolvency Fund (MIICF) will end from 1st January 2025. The reason for this statement, published on their website, is that MIBI’s expects the value of the fund to exceed the EUR 200 million threshold by June 2025, which is the point when the fund should stop collecting funds as per the Insurance Act of 1964.
Ireland: Contributions to Motor Insurers Insolvency Compensation Fund (MIICF) Ends From 2025
Edit Buliczka
October 7, 2024
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Author
Edit Buliczka
Edit is a senior regulatory counsel. She joined Sovos in January 2016 and has extensive IPT knowledge and experience. Her role ensures the IPT teams and systems at Sovos are always updated with legislative changes. She is a Hungarian registered tax expert and chartered accountant and has worked for companies in Hungary including Deloitte and KPMG and as an indirect tax manager she worked for AIG in Budapest. She graduated with an economist degree from Budapest Business School, faculty of finance and accountancy and also she has a postgraduate diploma from ELTE Legal University in Budapest.
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