The fallout from Independent Insurance's plunge into provisional liquidation has spread to Ireland where a number of the insurer's clients have been hit by large compensation claims.
Ireland's Small Firms' Association has expressed concerns that some contractors may be forced to bear the burden of claims incurred by subcontractors insured by Independent.
This is because Ireland-based companies will not qualify for any compensation from the UK Policyholders Protection Board, unlike UK companies with the same insurance policies.
SFA director Pat Delaney said many Irish companies particularly, in the construction sector, are now in the dire situation of being without cover.
UK companies qualify for compensation from the PPB because employer's liability cover is compulsory there.
However, the Construction Industry Federation in Ireland said some affected members have now sorted out temporary cover.
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