Farm & Livestock Decision Reference 2022-0059

Case OutcomeRejected
Subject MatterFarm & Livestock
Reference2022-0059
Date14 February 2022
Conducts Complained OfFailure to provide product/service information,Delayed or inadequate communication
Finantial SectorInsurance
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.

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