We earn income by commission paid by insurers and/or brokerage fees paid by you. Details of commission received from insurers are available on request. The commission is deemed earned at the placement of cover.
Brokerage fees are charged as a fixed fee or percentage of the insurance premium and Government levies as follows:
- Personal Insurance: up to a max of 30%, subject to a minimum of €50
- Commercial Insurance: up to a max of 25%, subject to a minimum of €100
- Mid-Term Alterations: up to a max of 25% subject to a minimum of €25 on Personal Insurance and €100 on Commercial Insurance
- In the event of cancellation or rebate a brokerage fee may be levied subject to a maximum of 15%.
- The amount of any commission received by the Company from insurers will not be deducted from the brokerage fee payable by you.
Advice without placement of a contract is chargeable on a time disbursements basis:
- Directors/Senior Personnel: €200 per hour.
- Account Executives/Consultants: €150 per hour.
Our policy set up charge is non-refundable.
If you require credit terms, we may be able to arrange premium finance, in which case you will be entering into a separate credit agreement with a premium financing provider. In respect of arranging insurance premium finance on your behalf, a commission payment of up to 2% is charged.
Any charges due to us under the section above may be deducted from any rebate due to you prior to it being issued – this will be agreed with you in writing in each instance.