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

The Devil is in the Detail

Picture1 Material Facts and the Law of Average

We all assume that when something goes wrong, our insurance company is there to help us out  and foot the bill. This is the wrong assumption to make as an increasingly hig number of risks  are either underinsured, insured incorrectly or are not insured at all.

Insurance companies, like any other business, are there to maximise profits, it is their duty to  their shareholders to do so. In the event of a claim, insurance companies try to minimise the  amount that they pay out through the strict enforcement of policy terms and conditions. Insurers use little known devices such as the ‘rule of average’. Continue reading The Devil is in the Detail

Assessors and Adjusters

What happens when you make a claim

stress Once you submit a claim to your insurance company the first thing they will do is appoint one  of their professional loss adjusters to use their experience and expertise to minimise the  amount of money that they have to pay out. It is important to emphasise that the appointed  loss adjuster acts solely on behalf of the insurance company and is paid by them.

When the loss assessor visits your property to inspect the damage he or she will discuss the  nature and extent of the claim with you and prepare a detailed and confidential report for the  insurance company that is not available to you, the policy holder. Continue reading Assessors and Adjusters

What happens when you make an insurance claim

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Once you submit a claim to your insurance company the first thing they will do is appoint one of their professional loss adjusters to use their experience and expertise to minimise the amount of money that they have to pay out. It is important to emphasise that the appointed loss assessor acts solely on behalf of the insurance company and is paid by them.

When the loss assessor visits your property to inspect the damage he or she will discuss the nature and extent of the claim with you and prepare a detailed and confidential report for the insurance company that is not available to you, the policy holder. Continue reading What happens when you make an insurance claim

Why use an independent loss assessor?

The insurance claims market is constantly changing, and usually in ways driven by the insurance companies themselves.  We have noticed, and I’m sure you have too if you have been monitoring the press recently, that the insurance companies are changing the way they are dealing with claims. This is in our view, in order to slow down the payment of settlements.  Don’t get me wrong, we are in no way implying that your insurers will not pay the claim, we are stating however, that they are taking longer to do so.

Here- to- fore, property damage claims were being dealt with, very quickly and we were constantly hearing from loss adjusters that they were under pressure from insurers to meet deadlines in relation to first visits of sites of damage.  And then further deadlines in relation to producing reports, both preliminary reports and final reports to the insurance companies in order to progress the claim to settlement as quickly as possible.  Payments were based cash with no effort by insurance companies to undertake any replacement or reinstatement work themselves Continue reading Why use an independent loss assessor?

Do you live in a flood risk area?

Flooding is a natural process which can happen at any time in a wide variety of locations across Ireland. Assets at risk from flooding can include housing, public infrastructure, commercial property and industrial enterprises. Understanding flood risk is an essential step in managing the associated impacts and making informed decisions.

There are two major causes of flooding: Continue reading Do you live in a flood risk area?

Fire Prevention – Top tips for home owners

Fire Prevention

Every year 46 people die in the Republic of Ireland as a result of fire. Over 1,000 are seriously injured from smoke inhalation and burns and millions of euro’s worth of damage is caused. Sadly, most of these incidents could have been avoided given a basic level of fire safety awareness.

A fire in the home can have horrific consequences including death or serious injury, psychological trauma and financial and sentimental loss. The advice set out below will help you to avoid and fire and let you know how to react if one does occur. Continue reading Fire Prevention – Top tips for home owners