If the appeal fails it could mean hefty hikes in insurance premiums...
The Motor Insurers' Bureau of Ireland (MIBI) is set to appeal a ruling that it is liable to pay €90 million on behalf of the now-collapsed Setanta Insurance.
The Court of Appeal found that, under the terms of its establishment in 1955, the MIBI was responsible for fulfilling claims against persons insured with the former Malta-registered company.
Following a board meeting, it is now set to challenge this in the Supreme Court. Should it fail and the ruling stand, the cost will be passed on to motorists.
This could amount to a once-off premium of €50 being added to people's car insurance bill.
MIBI has taken the decision after consulting with its 40 members and receiving expert legal advice.
The Bureau argues that the Insurance Compensation Fund is responsible for the Setanta payout.