Farm & Livestock Decision Reference 2022-0059

• Case Outcome: Rejected
• Reference: 2022-0059
• Date: 14 February 2022
• Year: 2022
• Subject Matter: Farm & Livestock
• Conducts Complained Of: Failure to provide product/service information,Delayed or inadequate communication
• Finantial Sector: Insurance

Decision Ref:

2022-0059

Sector:

Insurance

Product / Service:

Farm & Livestock

Conduct(s) complained of:

Failure to provide product/service information

Delayed or inadequate communication

Outcome:

Rejected

LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN

The Policyholder, who is now deceased, incepted a Farm Protection Policy with a named

Insurer on 5 October 2015. The Provider, in its capacity as an insurance intermediary,

arranged this policy for the Policyholder.

This complaint arises from the fact that a tractor was insured on the policy for the sum of

€1,500.00 (one thousand five hundred Euro). The Policyholder, and latterly the

Complainants, maintain that when the policy incepted with the Insurer, through the

Provider, it was the Policyholder’s intention to insure his tractor for €15,000.00 (fifteen

thousand Euro) but that this value was incorrectly recorded by the Provider and conveyed

to the Insurer as being €1,500.00. The late Policyholder died on 1 July 2019 and the

Complainants are the Executors of his Estate.

The Complainants’ Case

The late Policyholder telephoned the Provider on 13 May 2019 to advise that two sheds and

his tractor and trailer had been badly damaged by fire on 11 May 2019. The Provider notified

the Insurer of this loss. The late Policyholder accepted a claim settlement offer from the

Insurer in the amount of €23,475.00 in respect of the fire to the outbuildings, which was

paid posthumously on 4 July 2019, however he had refused a claim settlement offer in the

amount of €1,500.00 in respect of the loss of his tractor.