The Lifetime of an Insurance Claim – What happens next?

This post is a follow up to our article on Your Personal Journey Through an Insurance Claim  (read here), have a read of this post if you have not already.

1. Certain documents need to be produced:

a)      Garda File set up and letter to the insurers confirming the insured is not implicated in the investigation.

b)      Forensic Report.

c)      Loss adjusters Preliminary Report advising insurers on liability. Continue reading The Lifetime of an Insurance Claim – What happens next?

On the Grapevine with Benen Tierney

Sean Cleary was interview recently by The Grapevine with Benen Tierney on Castlebar Community Radio. This interview is a great introduction to Loss Assessing and what it entails. To listen to the interview just click on the link below. We welcome your comments. Click here to listen to the interview

Your Personal Journey through A Major Insurance Claim

1. Shock – for you and your family, both physically and financially. It is not nice to read, but this is a definite consequence of a fire, flood, burglary or any other unforeseen misfortune. Shock can result in the need for medical assistance for the more vulnerable and the young.

2. Uncertainty – No one will tell you what will happen next. You would expect to be surrounded by accurate information at this vulnerable time but this is very hard to get. Don’t be surprised if the people working for your Insurance Company are evasive, slow to respond, elusive and unable to be definitive. You are not their concern. The Insurance Company is. A decision or acceptance to liability may take months!

3. Frustration – Gardai may carry out an investigation e.g. Scene of Crime or Forensic Investigation. This can be a slow process, with lack of follow up and often no result or satisfactory conclusion. You the owner may be the last person to receive any information. Continue reading Your Personal Journey through A Major Insurance Claim

Protect your home this winter

The winter months are a peak time for burglaries in Ireland. With this crime on the rise we have put the following tips and advice together so that you can do all in your power to avoid this menace.

Outside the Home:

Potential intruders will look for signs of carelessness around your property that identify you as an easy target. It does not take a lot of effort to make your home appear less appealing.

  • Never leave shed doors or gates open, keep them closed and locked.
  • Keep all valuables such as bikes and tools locked away, out of sight.
  • Never, ever, leave keys outside under a mat or a plant pot. If you have to leave them for someone, ask a neighbor.
  • Never leave ladders or bins (these can be climbed too) outside or unsecured. Continue reading Protect your home this winter

10th Eircom PhoneWatch Published

Eircom PhoneWatch have recently published their 10th annual Burglary Report revealing an 8.5% increase on last year’s figures. Over the ten years that they have been carrying out their surveys over €700m worth of goods have been stolen from Irish homes.

Speaking at the launch of the report Eoin Dunne, Chief Executive of Eircom PhoneWatch commented “Over the ten years that we have reported on burglary in Ireland, one insight remains constant – burglary regardless of boom or bust is a crime phenomenon, which is simply not going away. The figures consistently demonstrate that the vast majority of burglaries take place while the home is occupied, thus increasing the risk of confrontation and personal danger, so it is of particular importance that people become more security aware while they are in the home. This year’s findings also indicate that burglars are more audacious than ever. As the winter months approach, which over the past ten years has been the busiest for burglars home owners need to be aware that there are simple measures that can be introduced today to make their home more secure”. Continue reading 10th Eircom PhoneWatch Published

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;

Continue reading The Bankers Interest

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.

Continue reading Imbalance of Payments

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?!