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Apartment block insurance explained

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By John Healy of Healy Insurances

Management companies and private owners of apartment blocks should review their cover on an annual basis.

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Many insurers have become very selective in the blocks that they insure mainly due to poor construction over the Celtic Tiger years and recently cladding issues following the Grenfell Tower fire in London.

What should typically be covered under an apartment block policy?

Material damage

The rebuild costs of the block including damage to grounds and landscaped gardens. Contents for any common areas should be included along with covers such as trace and access for water damage, fire brigade charges, and theft damage to buildings.

Loss of rent

Consequential loss of rent following an insured event such as a fire should be included and updated annually to fully cover the rent. Alternative accommodation cover could be relevant for owner occupied apartments and should be adequately insured.

Liability

Employers Liability Cover should be included for minor property maintenance and repairs at the block. It is advisable that any third party contactors should have their insurance cover in place. Public Liability will cover your legal liability in the event that you are negligent and required to pay compensation for bodily injuries or damage to third party property.

Legal Protection and Directors and Officers Insurance

This kind of cover can be included in the block policy or as a stand-alone product. Typically it covers legal fees in case of employee disputes, compensation awards cover and legal defence fees for you and your employees. Cover can also be included for fees arising from Revenue Commissioners investigations. Directors and Officers Insurance protects the board of the management company for claims made against the directors for alleged wrongful acts such as breach of duty among other extensions.

It is crucial to get the right advice from an experienced insurance broker who takes the time to understand your risk profile and can research the market to get you the best quotes.

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Motorists urged to drive with care during frosty weather

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Kerry County Council have issued a warning to motorists today, urging all road users to drive carefully today and tomorrow.

A Status Yellow ice and frost warning is in place for Kerry, with conditions expected to cause sharp frost, icy stretches and black ice on the road.

The council said that priority routes will be treated twice this evening and tonight.

Motorists are advised to allow extra time for journeys and to drive with care, especially on untreated roads.

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Don’t ignore the signs: Billy’s heartbeat story

Billy O’Sullivan works with Heartbeat Killarney, a voluntary cardiac support group for those with heart disease. It is run by heart patients and carers, and is aimed at helping people […]

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Billy O’Sullivan works with Heartbeat Killarney, a voluntary cardiac support group for those with heart disease. It is run by heart patients and carers, and is aimed at helping people to return to a normal life afterwards. Billy is encouraging men to monitor their health by attending regular check-ups. Every week in the month of January, we will share articles from Heartbeat Killarney which will provide more information on how to look after yourself. This week, Billy shares his story with us.
Billy first noticed mobility issues in 1999. While walking, he would plan deliberate stops along his route to make it seem normal, he assumed it was down to being overweight. He said: “I blamed the tightness in my chest to tension and stress. An odd time I would have a tightness in my wrists, but I put that down to lifting things too heavy for me. I muddled along this way for a year or so until I started to get severe indigestion after a bout of tension in my chest.”
Billy went to the pharmacy to obtain medication for his indigestion, and she saw his condition first-hand. The pharmacist advised him to go straight to the doctor. Billy described that moment as a wake-up call.
The pharmacist rang his doctor who saw him immediately, and Billy believes that phone call saved his life. He said: “An ECG was done, an anomaly spotted, and an appointment was booked with a Cardiologist who told me I had blockages in my veins and that an angiogram was needed.”
Billy described his experience with the doctor as very positive, saying he did not feel any anxiety waiting for his appointment. He explained: “I had the Angiogram and was referred to a heart surgeon who told me I needed surgery and would get an appointment in three months. In the meantime, I was to follow his instructions on how to keep my heart safe and got an emergency number to call if needed.”
This happened around the end of November; Billy wanted a family Christmas before his stay in hospital. In early December, he got a phone call asking if he would like his operation earlier due to a cancellation. He accepted it! Billy had his triple heart bypass and was home in time for Christmas.
Heartbeat Killarney is planning a special meeting and clinic on Tuesday, January 27. Billy is inviting men from 30 plus to attend on the night and learn more about how to look after their health.

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