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Wed 04 Apr 2010 Quinn restrictions relaxed
The Financial Regulator has modified the restrictions placed on Quinn Insurance Ltd (QIL) last month that prevented it from issuing new motor insurance cover in the UK.
The regulator said today it would allow the firm to write new insurance cover for provisional licence holdersin the United Kingdom, including Northern Ireland. The office said it had taken the decision after "careful consideration and analysis" of information provided by the administrators of QIL and consulted the UK's Financial Services Authority.
The statement from the regulator indicated that there had been improvements in the company’s underwriting model and "significant" strengthening of its pricing structure.
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