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Indemnity Insurance with a UK Broker

  • 14-12-2009 12:33pm
    #1
    Boomtastic
    Closed Accounts Posts: 59 ✭✭


    Hi,

    Currently I have Public Liability insurance through an Irish broker. The premiums are going through the roof and people have suggested going through a UK broker. The UK premiums are about 50% of what I am paying now.

    Are there any downsides to taking out insurance with a UK broker? :confused:


Comments

  • #2
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    Just make sure that the Territorial Limits and Jurisdiction clause covers the Republic of Ireland. If it doesn't, then it's no use to you.

    If foreign insurers want to tansact business here, they usually set up shop in Ireland or go through an Irish based agency. It is not practical for them to conduct business from overseas from a premium collection and a claim investigation point of view


  • #3
    Boomtastic
    Closed Accounts Posts: 59 ✭✭Boomtastic


    Thank you. Very useful info. :)


  • #4
    NUTLEY BOY
    Registered Users, Registered Users 2 Posts: 2,345 ✭✭✭NUTLEY BOY


    Be sure that the underwriters of the policy are authorised to transact business in the Republic of Ireland.


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