Document background
The Insurance Addendum is a critical document used when modifications to an existing insurance policy are required under Irish law. It serves to formally document changes to insurance terms, coverage, premiums, or conditions while ensuring compliance with Irish insurance regulations, particularly the Consumer Insurance Contracts Act 2019 and EU insurance directives. This document type is essential when insurers need to modify existing policies due to changed circumstances, regulatory requirements, or mutual agreement with policyholders. The addendum must carefully balance legal compliance with clarity of communication, ensuring all modifications are clearly stated and understood by all parties. It includes specific references to the original policy, detailed descriptions of modifications, effective dates, and any required regulatory disclosures.
