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Insurer complied with duty of good faith in providing policy
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High Court dismisses plaintiff's claim that he was mis-sold an insurance product on the grounds the insurance company did not deal in good faith and there was no consensus as to the exact terms of the contract, finding that: a) the defendant complied with its duty of uberrima fides in its dealings with the plaintiff; b) there was ample evidence to support the consensus between the parties; and c) the finding of the Financial Services Ombudsman was binding on the parties where the plaintiff had failed to appeal to the High Court within the relevant time period.
Insurance law – alleged mis-selling of a unit linked Protection Plan – critical illness cover – s.51 of the Insurance Act 1989 – uberrima fides – no consensus ad idem – Buckley on Insurance Law, 3rd Ed – European Communities (Unfair terms in Consumer Contracts) Regulations 1995 – s. 57C 1(1)(b) of the Central Bank Act 1942 (as amended by the Central Bank and Financial Services Authority of Ireland Act, 2004) – evidence amply supports consensus between the parties – finding of the Financial Services Ombudsman is binding on the parties – plaintiff's claim dismissed.
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