News

I remain steadfast in the view that arbitrary retentions were sold to some Insurers by certain loss adjusting firms as a marketing ploy.

It would appear to me that some Insurers are now regretting providing cover on a “new for old” basis.

Nearly a week on from the deluge of 28th June 2012, a significant amount of claims have been notified to Insurers.

Met Eireann Report 50mm Rainfall in a three hour period in Cork City and surrounding areas during early hours of Thursday 28th June 2012.

Recent figures suggest that we are approaching “Celtic Tiger” levels of construction costs. Sum insured levels need to be reviewed accordingly to avoid penalties or proportional reductions for under-insurance.

Again reference to no deductions for wear and tear provided the premises has been maintained in good repair and repairs are carried out without delay.