News & Articles
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 […]
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. Motor insurance has come a long way since the early days of horse-drawn carriages. Today, every driver in Ireland must hold a valid car insurance policy before driving on a public road. Understanding how this became law offers useful insight into the evolution of driver protection […]
Tips for submitting an insurance claim in Ireland
Submitting an insurance claim in Ireland can feel daunting, especially if it’s your first time. Whether it’s a burst pipe, car damage, or stolen items, understanding the process and knowing what to do can help you settle your claim faster and more fairly. Keep Proof of Ownership and Receipts Keeping receipts, serial numbers, and photographs […]
Loss Adjuster Ireland
A Loss Adjuster is appointed by your insurance company to investigate and assess a claim when your home or business is damaged. They act on behalf of the insurer to confirm the cause, extent, and cost of the loss. Their goal is to make sure the claim falls within the terms of your insurance policy […]
Loss Assessor Ireland
A Loss Assessor is appointed by the public to help policyholders make insurance claims. Their main job is to act on your behalf, preparing and negotiating a fair settlement with the insurer. This can be especially valuable when your home or business suffers damage from events such as fire, flood, or storm. What Does a […]