News & Articles
Book of Quantum
The Book of Quantum serves as a reference guide in the Irish legal and insurance systems to assess compensation values for personal injury claims. The Personal Injuries Assessment Board in Ireland published it to provide guidelines on appropriate compensation for various injuries, such as broken bones, whiplash, or soft tissue damage. The book categorises injuries […]
Principle of Proximate Cause
The Principle of Proximate Cause is one of the fundamental Principles of Insurance. It determines whether a loss is covered under an insurance policy. According to this principle, when an insured event occurs, the insurance company will assess the cause of the loss and determine whether it falls within the scope of coverage provided by […]
Involved in a car accident in Ireland? What you should do!
Let’s face it, car accidents can be pretty scary. In the heat of the moment, it’s easy to feel overwhelmed and confused. But hey, don’t worry. Even though we hope it never happens, being prepared can make all the difference. That’s why we’ve put together a handy checklist of tips to guide you through if […]
Am I insured to drive someone else’s car in Ireland
Yes, it’s legal to drive someone else’s car in Ireland, but with some conditions: Permission: Ensure you have explicit permission to drive the car; otherwise, it could be considered theft. Insurance: You should have your own car insurance. Third Party, Fire & Theft and Comprehensive policies generally allow you to drive another person’s car, but check […]
Principle of Subrogation
Subrogation is one of the main principles of insurance. Subrogation refers to the right of an insurance company to pursue a third party that caused a loss to the insured. For example, when an insurer pays a claim to a policyholder if a third party’s negligence caused the loss, the insurer may seek reimbursement from […]
Principle of Contribution
The Contribution Principle in insurance refers to the concept that if a customer has multiple insurance policies covering the same risk, each insurer should contribute proportionally to the claim. The Principle of Contribution ensures that no single insurer bears the entire financial burden of the loss. It promotes a fair distribution of liability among the […]
Perils vs Hazards
A Peril and a Hazard in home insurance are two distinct concepts. A Peril refers to a specific event that can result in a loss, such as theft, fire or flood. On the other hand, a hazard is a condition that increases the likelihood of a Peril occurring, making the loss more probable. Peril example: […]
Physical and Moral Hazards in Insurance
An insurance hazard refers to a condition or situation that increases the likelihood of a loss, which could lead to a potential claim on a car or home insurance policy. Insurance companies assess and manage these hazards to determine the risk associated with providing coverage to an individual, property, or business. There are several types […]
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 […]