DUAL Asset, part of DUAL, the underwriting arm of Hyperion Insurance Group, today announced a long-term collaboration with Accredited Insurance (Europe) Limited, a specialised programme manager across Europe, for its UK legal co-insurance business. IN DOING SO, DUAL Asset continues to strengthen its position as one of the world`s leading legal insurers in legal claims. Accredited Insurance (Europe) Limited UK Branch, will join DUAL Asset`s online comparison sites: – www.my-legalindemnity-shop.com in England and Wales, www.my-title-insurance-shop.com northern Ireland and www.mydefective-title-shop.com Scotland. The insured cannot recover more than his actual damage on the basis of the principle of compensation (unless otherwise provided by the policy). If an insurance contract contains an arbitration clause, the dispute must be referred to arbitration. However, there is an exception for consumers who are not subject to an arbitration clause in an insurance policy if the right is less than EUR 5 000 and the corresponding policy has not been negotiated individually. Exemplary damages can be insured in Ireland. The Legal Reform Commission examined this issue in a report published in 2000 (« ggravated, exemplary and restitutionary damages ») and considered that the public policy considerations that argue in favour of the prohibition of insurance for exemplary damages are not strong enough to require legislation in this area. It is therefore for each insurance undertaking to decide whether it chooses to expressly exclude exemplary damage from coverage. The Financial Services and Pensions Ombudsman (FSPO) is a legal representative who deals autonomously with unresolved complaints from consumers about their individual relationships with all financial service providers, including insurers. The FSPO has extensive powers and can ask the insurer to pay compensation of up to 250,000 euros; change their practices in the future; and correct the offending behaviour (for example. B require the insurer to pay a disputed claim). It is very common for invoked and loss-making policies to contain aggregation forms that provide that claims or events resulting from a single event, source or cause are treated as a single claim or incursion for the purposes of the indemnification and deductible limit.
Whether the aggregation clause favours the insurer or the insured depends heavily on the facts and the actual wording of the aggregation clause. . . .