Commission Summary

 We, Curran Connolly & Co (Drogheda) Ltd act as intermediary between you, the consumer, and the product producer with whom we place your business.

The Background
Pursuant to provision 4.58A of the Central Bank of Ireland’s September 2019 Addendum to the Consumer Protection Code 2012, all intermediaries must make available in their public office, or on their website, a summary of the details of all arrangements for any fee, commission, other reward or remuneration paid or provided to the intermediary which it has agreed with its product producers.

What is Commission?
Commission is the payment earned by the intermediary for work undertaken on behalf of both the product producer and the consumer. There are different types of commission models available, however, general insurance products that we provide, such as motor, home or liability insurance, are typically subject to a standard commission, which is paid to us by the product producer shortly after the sale is completed and is based on a percentage of the premium paid.

Profit Share arrangements

In some cases, the intermediary may be a party to a profit-share arrangement with a product provider and will earn additional commission. Any business arranged with these product providers on a client’s behalf will be placed with the product provider because that product provider is at the time of placement, the most suitable to meet the client’s requirements, taking all the client’s relevant information, demands and needs into account.

Investments

Investment firms, which fall within the scope of the European Communities (Markets in Financial Instruments) Regulations 2007 (the MiFID Regulations), offer both standard commission and commission models involving initial and trail commission. Increments may be based on a percentage of the investment management fees, or on the value of the fund.

Other Fees, Rewards or Non-Monetary Benefits
On rare occasions, we may also be in receipt of such non-monetary benefits from the product producers as attendance at their seminars, new product launches or Continuous Professional Development training for our staff, which are all designed to enhance the quality of our service to you.

Below is our Summary of Commissions document, where you will find individual product producers (arranged in alphabetical order) with the details of our commissions arrangements with them.