These terms of business set out the basis on which K & M Fitzgerald Insurances trading as Fitzgerald Insurances will provide services to you as their client. Here you will also find details of our regulatory and statutory obligations.
Authorised Status – K & M Fitzgerald Insurances Ltd t/a Fitzgerald Insurances are authorised by The Central Bank of Ireland to trade as Insurance Intermediaries under the Insurance Mediati
On Directive. We offer advice on placement facilities for Insurance Services. The firm does not have any “tied” relationships with any Institutions that would compromise our ability to offer our clients our best advice. A list of all Product Producers (Insurance Companies) we deal with is available to you on request. We are members of the I.B.A (Irish Brokers Association) and B.L.D (Brokerline Direct). All policies, schedules, Contractual Terms and Conditions are in English and based on the Laws of The Republic of Ireland.
Statutory Codes – K & M Fitzgerald Insurances Ltd t/a Fitzgerald Insurances are subject to and comply with the Consumer Protection Code, Minimum Competency Cody and the Fitness & Probity Standards as required by the Central Bank of Ireland
Services Provided- K & M Fitzgerald Insurances Ltd t/a Fitzgerald Insurances offer broad-based advice on a fair analysis basis in relation to all classes of insurance policies. As Credit Intermediaries, we can arrange personal loans for financing Insurance Premiums. We will select the most suitable product producer/product for you and on receipt of your instruction we will transmit orders on your behalf ( set up cover)
Premium Handling- K & M Fitzgerald Insurances Ltd t/a Fitzgerald Insurances may accept Cash, Bank Draft, Cheque, Postal Orders, Credit or Laser Card, Electronic Fund Transfer, Direct Debit from our Clients in respect of all classes of insurance as permitted under Section 25G of the Investment Intermediaries Act 1995. A SECTION 30 Receipt is issued for all financial transactions and should be kept with your policy documents. We cannot pay a premium to a Product Producer where the client has not paid us! NO DAYS OF CREDIT CAN BE ALLOWED! This is in accordance with Central Bank regulation. Therefore to avoid policy cancellation, premiums must be paid strictly within credit terms, if there are an, otherwise all premiums must be paid prior to inception/renewal date.
Cooling off Period/Cancellation – Consumers (as defined by the SI No.853 of 2004) has the right to withdraw from an insurance policy (as defined by SI no 853 of 2004) within 14 days from the start date of the policy without penalty and without any given reason- this is known as the cooling off period. You, the Customer may cancel your policy at any time subject to putting this request in writing to us. Provided that no premiums/fees are due on the policy, you will be entitled to a pro-rata return of your premium, except in the first year of Insurance (outside of the Cooling Off Period) where Insurers charge short period rates. Some policies are on a Minimum and Deposit Premium basis and this means that in the event of cancellation, no refund will be given by Insurers. In the case of motor policies – Current Insurance Certificate and Disc must be returned to cancel this policy. Insurers have the right to cancel policies that have had direct debit payments default; they will give you written notice to your last known address on their records- Please check your policy for terms and conditions.
Remuneration & Fees – K & M Fitzgerald Insurances Ltd t/a Fitzgerald Insurances are remunerated by both Commission and Fees. We charge an administration fee for the work involved in searching the market for the most suitable Product Producer/ Product for you, we also charge this fee at renewal of a policy or where there are any alterations to a policy throughout the year. We are usually remunerated by commission from Product Producers for the work involved in placing an order with them on your behalf- details of commission arrangements with various Product Producers are available on request. We are also remunerated by income derived from premium financing. A Table of our standard fees is set out below:
|Initial Set-Up Fee||Renewal Fee||Alteration/Cancellation|
|Motor||Up to Max €100||Up to Max €100||Up to Max €100|
|House||Up to Max €100||Up to Max €100||Up to Max €100|
|Commercial||Up to Max 20%||Up to Max 20%||Up to Max 20%|
Should we deem it necessary to charge a fee which exceeds the above, same will be disclosed to you prior to proceeding and we will not proceed with instruction until we have your written consent to charge this fee.
Conflict of Interest – We make every attempt to avoid situations where a conflict of interest could occur. Should such a situation arise, we will make every attempt to disclose the matter to our client as soon as possible.
Failure to Pay or default on Premium payment- K & M Fitzgerald Insurances Ltd t/a Fitzgerald Insurances reserve the right to instigate cancellation proceedings in the event of: • Non-payment of premium due at inception, renewal or following an alteration • Return of cheque from bank due to insufficient funds • Default on repayment to premium finance company.
Complaints Procedure – K & M Fitzgerald Insurances Ltd t/a Fitzgerald Insurances have written procedures in place to deal with any complaints arise from one of its customers. Should any Client have reason to complain about services received from our firm, we would ask them to put the complaint in writing addressed to the Managing Director, Fitzgerald Insurances. We guarantee a reply within 5 working days. The complaint will be fully investigated and we will issue updates in writing in intervals of 20 days, we would hope to resolve all complaints within 40 working days. We will furnish our findings within 5 working days of completing the investigation. In the unlikely event that the matter cannot still be resolved you may make contact with the Irish Brokers Association, 87 Merrion Square, Dublin 2 and ultimately you have the right to complain to the Financial Services Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.
Investor Compensation – K & M Fitzgerald Insurances Ltd t/a Fitzgerald Insurances are members of the Investor Compensation Company Ltd (ICCL), established under the Investor Compensation Act 1998. This provides payment of compensation in certain circumstances to clients dealing with firms covered by the Act. It is important to note that the right to compensation would only arise where client monies or investment instruments held by this company on your behalf cannot be returned, either for the time being or for the foreseeable future and where the client falls within the definition of eligible investor as defined in the Act. The amount payable is the lesser of – 90% of the client's loss that is eligible for compensation or €20,000.
Data Protection – K & M Fitzgerald Insurances Ltd t/a Fitzgerald Insurances fully comply with the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018. The data which you provide to us will be held on a computer database and paper files for arranging transactions on your behalf. The data will be processed only in ways compatible with the purposes for which it was given and as outlined in our Data Privacy Notice and Data Protection policy. You have the right at any time to request a copy of any “personal data” within the meaning of GDPR that our office holds about you and to have any inaccuracies in that information corrected. Please contact us at firstname.lastname@example.org if you have any concerns about your personal data.
Duty of Disclosure – IMPORTANT! – It is your responsibility to provide complete and accurate information to insurers when arranging an insurance policy, throughout the life of that policy and when renewing the policy. It is important that you ensure all information provided and all statements made on Proposal Forms, Statements of Fact, Claim Forms and other documents are to your knowledge and belief complete and accurate. Failure to disclose any material information could invalidate your policy and could lead to refusal of cover in the event of a claim. It is essential that we are notified immediately of any claim or incident which could give rise to a claim. Your policy wordings describe in detail procedures and conditions that apply when making a claim.
If you have any queries regarding our Terms of Business, get in contact with us.