The Bankers Interest

Over the years we have dealt with a very large number of household claims. When dealing with large settlements we have discovered surprisingly, time and time again, that the insured will not be aware of the banks interest on their property. If there is a mortgage on your home your bank will have an interest in your property and your insurer is obliged to make your settlement cheque payable to you and your bank if they are aware of that interest. This is where problems arise following a claim.

The bank may be slow to pass the funds on to you – whether you are behind in your payments or not. Due to the confidential nature of our business we cannot talk about specific cases but we have put together the following scenario which is based on cases that we have dealt with;

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Flood Warnings!

Many parts of the country are on flood alert today.

A “code orange” warning has been issued for Greystones in Co. Wicklow.

Areas of Cavan, Monaghan, Mayo, Leitrim, Sligo and Roscommon are also at risk.

The heavy rainfall is set to continue throughout the day – as between 30 to 50 millimetres is forecast to fall.

Please heed the warnings in your area and tune into local radio for updates. If you suffer any damage, give us a call 24 hours, on 1850 28 1850

Croagh Patrick Climb for the Irish Cancer Society.

Patrick Ginnelly, Michael Higgins, Colm Kilroy and Paul Greene at the Peak

Sean and all the team at Cleary’s Loss Assessors would like to congratulate all of those who climbed Croagh Patrick on Saturday 17th of July in aid of The Irish Cancer Society. The Climb which honoured the memory of David Mc Dermott of Hastings Insurance Brokers, who passed away last year, was organised by members of The Insurance Institute of Galway in conjunction with the Young IBA.

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Imbalance of Payments

Last winter’s severe flooding saw hundreds of policy holders greatly affected both emotionally and financially. Luckily, the vast majority of these policy holders had cover in place and could look forward to prompt settlement to get them back on their feet. Or so you would think. Five months on from the floods, Fianna Fail Galway West T.D. Frank Fahy is threatening to name and shame the insurance companies who he accuses of “penny pinching” and making “inadequate responses” to flood victims.

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A Lesson To Learn, Now.

Don't make the same mistake

As a result of the November floods last year, Grassland Fertilizers suffered losses of up to €1.3 million when up to 70% of the stock stored at its Cork facility was destroyed. A claim was processed and the underwriters failed to pay because there was no cover in place for flood, burst pipes, tempest and/or storm damage. Grassland are now bringing their insurance broker to the commercial court in an effort to recoup their losses.

Continue reading A Lesson To Learn, Now.

Earthquakes! In Ireland?!

You may or may not be aware of them, but from time to time earthquakes occur in Ireland. Their frequency is rare and their impact is minimal but did you know that almost all insurance policies cover them?

On Tuesday and Wednesday the 26th and 27th of January this year Donegal was hit by two minor quakes measuring 1.5 and 1.7 respectively on the Richter scale.  This brought the number of quakes in Donegal in January to 3! Quakes in Ireland are nothing new, in 1984, an earthquake hit Dublin which measured 5.5 on the Richter scale. This is the largest ever recorded in Ireland. The aftershocks from this quake measured up to 4 on the Richter scale. Continue reading Earthquakes! In Ireland?!

Honesty is the best policy, the Proposal Form

When it comes to your proposal form, be a saint
When it comes to your proposal form, be a saint

Many consumers consider insurance as somewhat of a grudge purchase, we would all prefer not to have to pay for it as many of us will pay premiums without ever, hopefully, having to use the service that we are paying for.

With this in mind, it is fair to say that many people fill out their proposal forms for insurance cover in a somewhat generous way by providing inaccurate information that will bring the premium down a little. In fairness to most consumers, many see this practice of omitting certain minor details as an innocent practice, but beware, your insurers and the wider insurance industry, including ourselves, do not. Continue reading Honesty is the best policy, the Proposal Form

Congratulations to our competition winner

Congratulations to Linda O’Connor of Ashbourne, Co. Meath, winner of Clearys Loss Assessors 25th year anniversary draw for a weekend away for 2 in any Carlton Hotel of her choice. Well done from all the team at Clearys, we hope you enjoy your getaway, have a great time.

We would also like to thank everyone who entered the competition, we had a great response.

Flood victims may be jilted by insurers Sunday Independent November 29 2009

Biblical floods may have destroyed the contents of your home — will insurers now try to pull a fast one, asks Louise McBride

THE devastation that swept the country over the last few weeks as floods wreaked havoc with homes and businesses could be only just beginning. Continue reading Flood victims may be jilted by insurers Sunday Independent November 29 2009