News & Articles
Principle of Indemnity
The Principle of Indemnity ensures that an insurance payout is designed to compensate the policyholder for financial loss. However, it prevents the insured from profiting from the insurance claim. What is the Principle of Indemnity? Indemnity is one of the main Principles of Insurance. Indemnity in insurance refers to the idea that an insurance policy […]
Principles of Insurance
The Principles of Insurance serve as the foundation for how insurance operates in Ireland. It defines the relationship between the policyholder and the insurance company. These principles help ensure fairness, transparency, reliability, and sustainability in the insurance industry. The main Principles of Insurance include: Utmost Good Faith The Utmost Good Faith principle requires both the […]
Peril
In insurance, a Peril refers to a specific event or cause that may result in a loss or damage to the insured property or individual. It is a particular risk that the insurance policy is designed to cover. Insurance policies typically list the Perils that are covered and those that are excluded. What is a […]
Insurable Interest
Insurable interest refers to a legal and financial concept that determines whether a person or entity has a valid financial interest in the preservation or continued existence of a particular asset or individual. In the context of insurance, it is a crucial principle that helps ensure that insurance policies are based on genuine risk-sharing and […]
Utmost Good Faith
Utmost Good Faith, also known as Uberrimae Fidei, is one of the fundamental Principles of Insurance. The Principle of Utmost Good Faith is explained below. What is Utmost Good Faith? Utmost Good Faith requires both the insurance company and the policyholder to act with the utmost honesty and disclosure when entering into an insurance contract. […]
History of Motor Insurance in Ireland
Welcome to the history of car insurance in Ireland. Drivers in Ireland are legally required to have a car insurance policy before operating a vehicle on a public road. The mandatory requirement for individuals to hold motor insurance transitioned from horse-drawn carriages to motorised vehicles. The Locomotive Act was introduced in 1865, outlining the laws relating […]
Tips for submitting an insurance claim in Ireland
Guidance when dealing with an insurer in the event of a claim. Here are some of the main points to note when submitting an insurance claim in Ireland. Always keep receipts for valuable items and identification numbers as proof of ownership in case items are stolen or damaged by fire. Maintaining evidence of valuable items […]
Loss Adjuster Ireland
What is a Loss Adjuster? The insurance company appoints a Loss Adjuster to establish the cause of an insurance claim to ensure it complies with the contract’s terms and conditions. Loss adjusters review domestic and commercial property insurance claims. Loss Adjusters are claims specialists who work on behalf of the insurance company. They may also advise […]
Loss Assessor Ireland
What is a Loss Assessor? The general public appoints a Loss Assessor. It is their job to help clients to submit insurance claims. They work on behalf of policyholders when submitting a claim in relation to their business or property. For example, if your home or business was damaged by fire, flood or a storm, […]
Breakdown Cover Ireland
Breakdown Cover is also known as Roadside Assistance. It always seems to happen when you least expect it. Your vehicle won’t start or comes to an abrupt halt, or you might have a problem with a flat tyre. Breakdown Assistance will cover you 24 hours a day, seven days a week. If your vehicle breaks […]