Irish taxi and food-delivery drivers face another squeeze on cover after French authorities temporarily barred Paris-based insurer Wakam from writing new business or renewing policies, the Irish Times reports.
Broker NFP Ireland, part of Aon, had brought Wakam in as underwriter for its [RideSure](https://www.ridesure.ie/) taxi and delivery scheme in February — after UK-based Zego stopped taking new Irish business last year. With Wakam now restricted, competition in that niche has narrowed again.
What the French regulator did Wakam said the French Prudential Supervision and Resolution Authority (ACPR) had imposed a temporary ban on underwriting new contracts and renewing existing ones while opening adversarial proceedings that could eventually lead to withdrawal of authorisations. The firm said it was preparing a response and pushing a remediation plan that includes strengthening its capital base.
Existing policies are still managed: Wakam said it continues to handle and settle claims and meet commitments to policyholders and partners. Chairwoman Catherine Charrier-Leflaive said the priority was protecting partners, policyholders and staff and giving the supervisor a documented reply.
Insurance Times reported that Wakam UK is a separate entity regulated by the PRA/FCA and is not covered by the French restrictions — a distinction that matters for UK capacity, but does not fix the Irish RideSure pipeline tied to Wakam SA.
What RideSure is telling drivers NFP’s RideSure site says the suspension took effect on 29 September 2026 and was initially expected to last about two weeks. In practice:
- No new quotations
- No new policies
- Renewals already offered can still be completed, but new quotes cannot be issued
An NFP Ireland spokesperson said the firm understood the uncertainty for drivers coming up for renewal and was seeking clarity from Wakam on when normal service can resume. “NFP’s priority is to keep its customers informed.”
The Irish Times notes alternative taxi insurers still operate in Ireland — including Axa, FBD and RedClick — but food-delivery cover is harder to find. Wakam’s share of the taxi and delivery market is not clear. The company wrote business in more than 30 markets and about €834 million of gross written premiums last year, the paper said.
Trade reading For working drivers, the immediate risk is renewals and new starters falling into a gap — especially delivery riders with fewer alternatives. Existing RideSure policies should keep running and claims should still be paid, but anyone needing a fresh quote now has to shop elsewhere until Wakam’s suspension lifts or another underwriter steps in.
Promoting competition and market access remains a stated aim of Ireland’s Action Plan for Insurance Reform — this episode shows how thin specialist hire-and-reward capacity still is when one overseas underwriter is frozen.