Motor Insurance Settlement

Lorne Malvo

Hi all,

Just wondering if someone can advise please..I was involved in a motor collision and a settlement was made to a third party.

Is the insurance company I am with required to disclose the amount paid to the plaintiff?

Thanks.

Del2005

You should get a letter with the details of the claim when it's fully settled, they usually pay for the car repair quickly but personal injury can take a long time. Your renewal documentation will include it.

Lorne Malvo

https://www.boards.ie/discussion/comment/122150982#Comment_122150982

I contacted them recently and was informed that it was settled last August. They didn't say how much for.

Eggs For Dinner

You say plaintiff, which is the 3rd party. Why wouldn't they know already know what they claimed for?

coylemj

https://www.boards.ie/discussion/comment/122150982#Comment_122150982

Multiple posters to threads in this forum have said they were not notified about a settlement. They complained bitterly about claims that were settled for exhorbitant amounts for what the policyholder said were claims with little merit. They were told nothing about the negotiations, when the claim was settled and for how much. And the OP in this thread has just told you that he never got any notification. For a claim that was settled last August.

In a lot of cases, posters said they only discovered there was a settlement at their next renewal when they saw that their NCB had gone down to zero.

Eggs For Dinner

The Consumer Protection Code from the Central Bank state that an insurer must notify the policyholder of the following

When a claim is made against you, when liability has been decided and when the claim is settled.

There is no requirement to notify on how negotiations are going, as this could prejudice the outcome.

I spent a huge chunk of my working day adhering to the code, though I accept what coylemj says in that it many don't appear to, which is disgraceful

Del2005

https://www.boards.ie/discussion/comment/122153099#Comment_122153099

When you take out an insurance policy you give the insurance all control over claims, if you don't want the insurance company dealing with the claim you can self insure. Maybe the reason why they aren't being told for how much the claim was settled for is because the claimant has 2 years to claim personal injury and the claim isn't settled as they've only dealt with the material part.

The system is rotten but that's not the fault of insurance companies. At least in motoring cases there was an incident for the claim, for businesses there doesn't even need to be an incident for the courts to award massive amounts to made up claims.

Blame the people who make fictious claims and the courts for not prosecuting people who make fictious claims when they rarely throw out a fictious claim.

Lorne Malvo

https://www.boards.ie/discussion/comment/122154111#Comment_122154111

Are they obligated to tell me how much the settlement was?