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?
Storm Damage & Your Policy
Global Warming?, Whatever your views on climate change or its causes, one need only look out a window to see the major changes in the Irish weather. We now receive heavier downpours, more severe flooding from storm surges, higher winds and more frequent and prolonged spells of bad weather.
Ultimately, storms in Ireland are more frequent and more severe. Your home insurance policy will cover the cost of repairing your home following storm damage, but here are a few tips to minimize damage where possible.
Batten Down the Hatches. Continue reading Storm Damage & Your Policy
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?
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
Burglary – A crime on the rise.
According to the 2008 Eircom Phonewatch Burglary Report, burglaries in Ireland increased by a whopping 32% over a one year period. In this post, we are going to give you some good advice on how to minimize your risk of becoming a victim of this crime. Firstly we will take a look at some of the figures from the Eircom Phonewatch report.
Between June 2007 and June 2008 over €100m worth of goods were stolen from Irish homes, give that figure a moment to sink in, €100m! The report also showed that a staggering 80% of burglaries took place while occupants are in the home. Continue reading Burglary – Simple steps to lessen your risk
All of us have some kind of insurance be it for your home, your car, your business or yourself. All insurance contracts, without exception, are governed by a set of fundamental principles otherwise known as the principles of insurance. These include Utmost Good Faith, Insurable Interest, Indemnity, Subjugation, Contribution and Proximate cause. We will get to all of these over the next few months on this blog, but for now let us explore indemnity.
All insurance contracts are contracts of indemnity i.e., the amount which is payable to you in the event of you experiencing a loss against which you are covered is limited to the extent of your pecuniary or financial loss or injuries sustained at the time of the loss. When a loss does occur, the amount that you may recover is called the ‘measure of indemnity’. Continue reading Just what is Indemnity?