The Irish insurance market is a key sector and major contributor to the performance of the Irish economy.

A policy where the policyholder makes annual/regular payments of premium to finance life assurance protection cover or to build up an investment or retirement fund. Premiums are invested by the life o [..]

An industry standard formula for calculating levels of life and pensions new business over a period of tme, to smooth out the effect of large, one off payments. It is the total of new annual premiums [..]

A clause in an insurance contract which permits an insurer and/or the person insured to cancel the contract before it is due to expire. The clause may allow for the refund of part of the premium in re [..]

The person making a claim.

Your duty when seeking insurance to inform the insurer of every material fact. The duty arises when getting quotes for new insurance. It also applies if you look for a variation of cover and at renewa [..]

The principle whereby a person who has suffered a loss is restored, as far as possible, to the same financial position that he/she was in immediately prior to the loss, subject to any contractual limi [..]

An extra charge to a standard premium reflecting the additional risk being taken on by the insurer. E.g. a motorist with a number of penalty points may find their motor premium is loaded.

A professional who is appointed to investigate the circumstances of a claim under an insurance policy and to advise on the amount that is payable to the policyholder in order to settle that claim. Los [..]

Most policies provide settlement for a total loss claim (the car is stolen or irredeemably damaged) on a "market value" basis. This means you are entitled to an amount representing the cost [..]