Insurance

Direct Recourse to Insurer I There is no general right for a person who has suffered damage,  to have direct recourse to an insurance policy which the defendant may have contracted, in order to indemnify himself in relation to liability for such damage.  … Read the rest

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Commencement of Policy An insurer may accept the application by issuing a policy and accepting the premium. Regulatory issues play arise in the formation of the contract and in a consumer context.A cover note may issue as short-term or interim insurance cover. … Read the rest

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Insured Risks Insurance insures against loss arising from the insured risk. The loss must flow from the insured risk.  Generally, direct losses only are covered.  Indirect knock-on or financial losses are not generally covered. Insurance usually is available only in respect of risks or uncertain events that would have an adverse effect on the insured. … Read the rest

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Insurance for Liability Liability insurance indemnifies the insured person against legal liability to third parties.  The liability may be for personal injury, death, damage to or loss of property and financial and economic loss. The law of tort / civil wrongs defines circumstances in which a person may become liable to compensate another.… Read the rest

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Making a Claim The insurance policy will set out the procedure for making a claim. Generally, notice must be given of the claim at an early date.  There may be a requirement that notice be given within a relatively short time. … Read the rest

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Mandatory Insurance It is unlawful to use a mechanically propelled vehicle unless it is insured against third-party liability (as a minimum) under an approved policy of insurance.  EU Directives and the Road Traffic Act require motor insurance policies to cover liability for negligence of and the consequences of injury caused by the driver. … Read the rest

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Duty of Good Faith / Disclosure An insurance company may avoid a contract of insurance on the basis of non-disclosure as if it constituted misrepresentation.  An insurance policy contract is one of utmost good faith. The English courts and Irish courts have diverged slightly in that the Irish courts have taken an approach which is more favourable to the insured.… Read the rest

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Warranties Under general law,  a warranty is a promise by one party that a particular state of affairs is true or that a particular thing will be done. In most non-insurance contexts,  breach of warranty gives rise to a claim for damages for breach of contract only.… Read the rest

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Insurable Interest An insured must have an insurable interest in the matter insured.  He must stand to lose in the event of the insured event occurring.  If an insured lacks the interest in the subject matter insured, the policy is enforceable.… Read the rest

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Overview Life policies are fundamentally different from other policies of insurance.  They are not policies of indemnity which compensate a person for loss actually incurred on the occurrence of an insured risk. It is sometimes said that a life insurance policy is a contingency policy,  rather than an indemnity policy.… Read the rest

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Deliberate Acts v Accidents Insurance is not generally available in respect of acts deliberately undertaken. It is usually limited to cover for risks that are largely outside the control of individuals. However, the fact that the action is deliberate however does not necessarily preclude insurance, particularly where the act is not intentional.… Read the rest

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Motor Insurance A motor insurance policy must insure drivers or persons who use motor vehicles (other than excepted persons) in respect of sums which may be liable to pay to any person for damages and costs on account of injury to person or property caused by the negligent use of a mechanically propelled vehicle to which the policy applies.… Read the rest

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Nature of Policy Liability insurance indemnifies the insured person against legal liability to third parties.  The liability is for personal injury, death, damage to or loss of property and financial and economic loss. The law of tort / civil wrongs defines circumstances in which a person may become liable to compensate another.… Read the rest

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Risks Covered Public liability refers to liability incurred to members of the public by reason of negligence or breach of duty in the context of accidental events and occurrences. Public liability insurance policies generally covers accidental loss, damage and injury, and related costs and expenses. … Read the rest

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Cover Product liability cover will typically provide an indemnity against sums which the insured becomes liable to pay as compensation for accidental bodily injury or illness to persons, or for accidentally damaged property, caused by defects in goods sold, supplied or repaired by it.… Read the rest

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Professional Firms Traditionally professionals referred to the church, medicine and the law. It now it refers to any service provider, where intellectual skill or manual skill controlled primarily by intellectual skill is involved. There must be a predominance of intellectual skill in the exercise of the manual skill.… Read the rest

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Employers’ Liability Insurance Employers liability insurance is not mandatory in Ireland,  unlike the position in the United Kingdom.  Employers liability insurance is, however, a practical necessity for employers and business owners. Employers liability claims may arise from accidents and incidents in the workplace. … Read the rest

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Nature of Risk A material damage policy is commonly referred to as a buildings or fire insurance policy.  The risks and types of loss covered are wider than just fire damage risks and they have expanded over time.… Read the rest

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Nature Business interruption insurance covers loss of business profits, arising from the occurrence of an insured risk.  The policy will specify the basis of calculation of performance, typically by reference to historical accounts. The cover is designed to cover a period until the business assets are restored. … Read the rest

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