Foreign Insurance companies in Ireland?

Mikenesson

Hi

I just got talking to someone who had a difficulty with a house insurance claim.

It transpired that the policy was taken out with a local broker ,who got it through another broker in the north and then subsequently the insurance company turned out to be foreign.

Would this be unusual here?

Eggs For Dinner

The use of Underwriting Agencies is quite common for overseas insurers who do not want the expense of opening up an office here.

What is the problem with the claim?

coylemj

Not surprised there's a 'difficulty' with the claim - if two levels of broker have to be paid commission, it doesn't leave much to pay claims so whoever is underwriting the policy probably makes would-be claimants go through all sorts of hoops before they grudgingly pay out.

Eggs For Dinner

coylemj wrote: »

Not surprised there's a 'difficulty' with the claim - if two levels of broker have to be paid commission, it doesn't leave much to pay claims so whoever is underwriting the policy probably makes would-be claimants go through all sorts of hoops before they grudgingly pay out.

That some generalisation when we haven't been told what the issue is. Two levels of commission can work out cheaper than paying one level to a broker of an Irish based Insurer with significant office running costs

Mikenesson

Eggs For Dinner wrote: »

The use of Underwriting Agencies is quite common for overseas insurers who do not want the expense of opening up an office here.

What is the problem with the claim?

Its prob not my business, the ombudsman is dealing with the matter