Too much damage done

Quinn is certainly determined to return to the UK, insisting that the territory is central to its revival plans. Indeed, the only reason it accepted the regulator’s insistence that it be put into administration in the first place was its wish to reach a deal that would see its return to these shores. Following last week’s concession that it may write motor insurance for provisional license holders, a more extended return is now looking likely. The FSA has its concerns, and chances are Quinn won’t be able to write as much business in as many lines as before, but that’s not to say it won’t be back to some degree.

But after the torrid weeks of headlines, will it find any customers here? Even before these latest events, Quinn was untouchable for many brokers. Multinationals such as Willis wouldn’t go near it; consolidators such as Towergate and Bluefin wouldn’t trade with it and moved books of business when they bought up brokers that did; and Biba advised brokers to think carefully before placing business with an unrated insurer, because in the event of its collapse they could be open to accusations of professional negligence.

Against this backdrop, it is perhaps surprising that any brokers at all traded with Quinn – and indeed, it’s hard these days to find any willing to own up to it. Still, many did because its low prices kept customers happy.

But under the control of its administrators and with the regulator breathing down its neck, Quinn is going to have to price risks properly if it is allowed to return to the UK in lines outside motor.

So, with a busted reputation, a broking community that doesn’t want to play, and its one selling point – low prices – down the tube, what on earth would Quinn have to offer?