Central

Bank of Ireland

CBL Insurance Europe Dac FAQ

T: +353 (0)1 224 6000

media@centralbank.ie
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Page 2 CBL Insurance Europe Dac - FAQ Central Bank of Ireland

Question Answer
1 Who is CBL Insurance CBL Insurance Europe Dac (CBLIE) is an insurance company
Europe Dac and what has registered in Ireland and authorised to write business in
happened? Ireland and on a freedom of services basis in Belgium,
Denmark, France, Italy, Norway, Romania, Spain, Sweden
and the UK.

On 19 February 2018, the Central Bank of Ireland issued a

direction to CBLIE to cease writing business with immediate
effect.

2 Why did the Central Bank The Central Bank has been engaging with CBLIE regularly in
issue this direction? carrying out its supervisory duties.

The Central Bank and CBLIE continue to work through a

number of supervisory issues. Until such time as these are
resolved to the satisfaction of the Central Bank, CBLIE has
been directed to cease writing new business.

The Central Bank is closely monitoring this situation and

further updates will be provided on the Central Bank website,
when available.

It is important to note that CBLIE continues to operate and

existing policies continue to remain in force.

3 Is my insurance policy valid? It is important to note that CBLIE continues to operate and
existing policies continue to remain in force.

Any existing CBLIE policyholders who have concerns about

their policy should contact the firm directly, or their broker
(if the policy was bought through a broker).

4 I have an outstanding claim, All claims should continue to be submitted to CBLIE / its
what should I do? appointed claims handling agent in the normal way.

5 I’ve just received a renewal The Central Bank has issued a direction to CBLIE instructing
notice, can I renew this it to cease writing all business with immediate effect from 19
policy? February 2018, until further notice.

Any existing CBLIE policyholders who have concerns about

their policy should contact the firm directly, or their broker
(if the policy was bought through a broker).

Question
6 Will my claim still be paid
out?
7 What types of insurance
does the company sell?
8 How do I tell if I am insured
by CBLIE?
9 Can I cancel my policy?
10 I need to make an
adjustment to my policy
(e.g. want to increase limit
or moved house), can I still
do this?
11 For policies that are
monthly instalments (such
as pet) how long is my policy
still in force (i.e. does the
next instalment count as
new business?)
Central Bank of Ireland CBL Insurance Dac - FAQ Page 3
Answer
It is important to note that CBLIE continues to operate and
existing policies continue to remain in force.
CBLIE underwrites construction related credit and financial
surety insurance, professional indemnity insurance,
property insurance, and travel bonding.
Policyholders can check the name of the insurance firm on
their policy documentation.
In addition, any existing CBLIE policyholders who have
concerns about their policy should contact the firm directly,
or their broker (if the policy was bought through a broker).
That will depend on the terms and conditions of individual
policies - policyholders should contact the firm directly, or
their broker (if the policy was bought through a broker).
CBLIE continues to operate and existing policies continue to
remain in force.
Any existing CBLIE policyholders who have concerns about
their policy should contact the firm directly, or their broker
(if the policy was bought through a broker).
CBLIE continues to operate and existing policies continue to
remain in force. Instalments do not count as new business.
T: +353 (0)1 224 6000
media@centralbank.ie
www.centralbank.ie