Terms & Conditions

Dempsey insurances (Trim) Ltd is regulated by the Central Bank of Ireland

 

TERMS OF BUSINESS FOR DEMPSEY INSURANCES (TRIM) LTD Effective date January 2018

 

These Terms of Business set out the general terms under which our firm will provide business services to you and the respective duties and responsibilities of both the firm and you in relation to such services. Please ensure that you read these terms thoroughly and if you have any queries we will be happy to clarify them. If any material changes are made to these terms we will notify you.

 

Authorisation with the Central Bank of Ireland

Dempsey Insurances (Trim) Ltd is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Communities (Insurance Mediation) Regulations, 2005. Copies of our regulatory authorisations are available on request. The Central Bank of Ireland holds registers of regulated firms. You may contact the Central Bank of Ireland on 1890 777 777 or alternatively visit their website at www.centralbank.ie to verify our credentials.

 

Codes of Conduct – Dempsey Insurances (Trim) Ltd is subject to the Consumer Protection Code, Minimum Competency Code and Fitness & Probity Standards which offer protection to consumers. These Codes can be found on the Central Bank’s website www.centralbank.ie

Our Services – Dempsey Insurances (Trim) Ltd is a member of Brokers Ireland.

Our principal business is to provide advice and arrange transactions on behalf of clients in relation to life & pensions/mortgages/general insurance products. A full list of insurers, product producers and lending agencies with which we deal is available on request.

 

Insurance Intermediary Services

Dempsey Insurances (Trim) Ltd acts as an Independent Broker which means that:

  1. a) the principal regulated activities of the firm are provided on the basis of a fair analysis of the market; and
  2. b) you have the option to pay in full for our services by means of a fee.

 

Fair Analysis

INITIAL FEE RENEWAL POLICY ALTERATIONS/ ARREARS/ CANCELLATIONS
MOTOR UP TO €200 UP TO €200 UP TO €50
HOUSE UP TO €100 UP TO €100 UP TO €40
COMMERCIAL UP TO €1500 UP TO €1500 UP TO €1500

The concept of fair analysis is derived from the Insurance Mediation Directive.  It describes the extent of the choice of products and providers offered by an intermediary within a particular category of life assurance, general insurance, mortgages, and/ or a specialist area.  The number of contracts and providers considered must be sufficiently large to enable an intermediary to recommend a product that would be adequate to meet a client’s needs.  The number of providers that constitutes ‘sufficiently large’ will vary depending on the number of providers operating in the market for a particular product or service and their relative importance in and share of that market.  The extent of fair analysis must be such that could be reasonably expected of a professional conducting business, taking into account the accessibility of information and product placement to intermediaries and the cost of the search.  In order to ensure that the number of contracts and providers is sufficiently large to constitute a fair analysis of the market, we will consider the following criteria:1.The needs of the customer,2.The size of the customer order, 3.The number of providers in the market that deal with brokers,4.The market share of each of those providers, 5.The number of relevant products available from each provider,6.The availability of information about the products,7.The quality of the product and service provided by the provider,8.Cost, and 9.Any other relevant considerationDempsey Insurances (Trim) Ltd. can provide advice on and arrange products from the following range: household, motor, commercial, public liability, employer liability, and travel insurance. Dempsey Insurances (Trim) Ltd provides general insurance on a fair analysis basis (providing services on the basis of a sufficiently large number of contracts and product producers available on the market to enable the firm to make a recommendation, in accordance with professional criteria, regarding which contract would be adequate to meet your needs).

Non-Life Remuneration – Dempsey Insurances (Trim) Ltd is remunerated by commission from insurers on completion of business.  Details of this remuneration are available on request. Where an override commission is received, this will be disclosed to you in general terms. Details of maximum Brokerage fees are in table below.

Conflict of Interest It is our policy to avoid any conflict of interest when providing our services to our clients.  However where an unavoidable conflict arises, we will advise you of this in writing before proceeding to provide you any of our services. A full copy of our conflicts of interest policy is available on request.

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