Insurance providers warned over lack of transparency with customer flood claims

THE CENTRAL BANK says it is “concerned” by the findings of an inspection they carried out in to how insurance companies deal with customers and their claims for water and flood damage.

The Central Bank of Ireland today published its findings from a themed inspection into household property claims resulting from water damage. They said they considered such a specialised report appropriate given the increased frequency of floods in recent years.

 Claims.
 The report identified a number of shortcomings by the insurance companies. They stated there was weak oversight and controls over outsourced claims handling or loss adjusters and in isolated incidences there was potentially unfair settlement.

This highlights the need to have an advocate working on your behave. Manicle Property claims will help you through your claim every step of the way.  

For more info on the above article click on the link http://www.thejournal.ie/central-bank-flooding-insurance-companies-claims-1145003-Oct2013/