Terms of Business
Declan & Barry Goggin t/a Goggin Insurances
: 8/9 Lower Dorset St., Dublin 1
Declan & Barry Goggin t/a Goggin Insurances is regulated by the Central Bank Of Ireland.
These Terms of Business set out the general terms under which our firm will provide General Insurance and Financial Services business services to you. It details the respective duties and responsibilities of both the firm and you in relation to such services. Please ensure to read these terms thoroughly and if you have any queries, please contact us at the above address and we will be happy to clarify any questions you may have. If any material changes are made to these terms we will notify you, at the earliest opportunity. We commit to providing you with an excellent and professional level of service. We believe in acting only in the best interests of our clients to ensure that a relationship as important and fundamental as ours is maintained for life.
Central Bank of Ireland Authorisation
Goggin Insurances are regulated by the Central Bank of Ireland under the Investment Intermediaries Act, 1995 (as amended), the Consumer Credit Act,1995 and the European Communities Insurance Mediation Regulations, 2005. Copies of our Authorisations are available on request; alternatively the Central Bank of Ireland holds registers of regulated firms which can be viewed on their website www.centralbank.ie
Goggin Insurances are subject to and comply with the Consumer Protection Code, the Minimum Competency Code and the Fitness and Probity Standards. These Codes offer protection to consumers and can be found on the Central Bank of Ireland website www.centralbank.ie
As Insurance Intermediaries we provide advice in relation to General Insurance and Life Assurance products and services. We do not guarantee nor make representations in regard to, and expressly disclaim responsibility for the financial security of Insurance Companies and Product Producers with which we place business. Goggin Insurances are members of the Irish Broker Association (IBA).
General Insurance Services
Inception & Renewal
We provide advice in relation to the following general insurance products: Household, Motor, Commercial, Public Liability and Employers Liability. Depending on your instructions we can advise you in relation to the products of the Insurance Companies and Product Producers listed in Appendix 1 and we will work on your behalf to negotiate competitive renewal terms on your insurance cover.
We will also offer assistance to you in relation to processing claims, on policies taken out through with our firm. This assistance is provided either directly by our staff and/or with the assistance of an appointed loss assessor.
: To ensure continuity of cover, where you have an existing policy which is due to expire and we have been unable to contact you, we may put continuing cover in force whilst awaiting your instruction. You will be liable for any premiums payable to the relevant insurer for the period of time between renewal and when we receive your instruction. You have the right not to avail of his service and should advise us accordingly.
If you require credit terms, we may be able to arrange premium finance on your behalf, our list of Credit Finance appointments are listed in Appendix 1. Alternatively a monthly direct debit facility (if available) may be operated by the Insurance Company. We cannot accept instalments paid to our office.
: Life Assurance, Investments & Pensions
Life Assurance companies and some Product Producers provide many products such as Life Cover, Specified Illness cover, Income Protection, Savings, Investments, Pensions and PRSA’s. Depending on your individual circumstances, we may provide you with advice in relation to the nature of these products and which product(s) may be suitable for your needs. You may, however, have particular areas of interest; in this case, we will be happy to give specific advice in these areas. We can give you a choice of different life, investment and pension products and on your instruction we can receive and transmit orders for such products on your behalf. With your agreement, we may review the policies you take out on a periodic basis to ensure you are kept informed as to their benefit and to check whether they are still suitable for your needs. We will also provide assistance to you for any queries you may have in relation to the policies or in the event of a claim during the life of the policies. Goggin Insurances hold written appointments with the following Life Assurance Companies. Aviva Life and Pensions, Friends First Life Assurance, Irish Life Assurance PLC, New Ireland Assurance, Royal London, Standard Life Assurance and Zurich Life. Goggin Insurances has selected one preferred product producer, Irish Life Assurance PLC, for life insurance plans (including life assurance, specified illness cover, income protection cover, unit linked savings, investments and pension plans), tracker bonds and personal retirement savings accounts (PRSAs). Analysis of the market will be limited to products provided by Irish Life Assurance PLC. However in the event that Irish Life is unable to accept a particular plan in relation to life assurance, pension or investment we will place your business elsewhere if possible.
Conflict of Interest
It is the policy of Goggin Insurances to avoid conflicts of interest in providing you with insurance and investment business services. If this is not possible, we will notify you as soon as is practicable after we become aware of the conflict of interest and you may rest assured that you will be treated fairly where such a conflict is unavoidable.
Goggin Insurances have a written complaints procedure for the effective handling of all complaints. We will acknowledge receipt of your complaint in writing within 5 working days. A written update will be issued to you every 20 days by a nominated individual within our firm. A comprehensive response to your complaint will be issued within 8 weeks of receipt of your initial complaint. In the event of failure to resolve your complaint you may raise the matter with the Financial Services Ombudsman Bureau Lo Call: 1890 88 20 90 email@example.com
or the Pension Ombudsman at 36, Upper Mount Street, Dublin 2. ph 01 6474650, fax 01 6769577 email firstname.lastname@example.org
, website www.pensionombudsman.ie. Our full Complaints Procedure is available on request
Failure to Pay or Default
Our firm will exercise its legal rights to receive payments due to it from clients for investment business services provided. In particular, without limitation of the generality of the foregoing, the firm will seek reimbursement for all payments made to insurers on behalf of clients where the firm has acted in good faith in renewing a policy of insurance for the client. Insurers and other product producers may withdraw benefits or cover in the event of default on payments due under policies of insurance or other products arranged for you. We would refer you to policy documents or product terms for the details of such provisions
Disclosure of Information
It is your responsibility to provide complete and accurate information for Insurers when arranging an insurance policy and/or where a Statement of Fact is completed on your behalf. Failure to disclose any material information to your insurers could invalidate your insurance cover; all/or part of the claim may not be paid.
Premium Handling & Receipts
When receiving and transmitting orders in relation to insurance policies Goggin Insurances may accept payment from clients payable to itself where an insurance undertaking has invited renewal of a policy of insurance, or the proposal for insurance has been accepted by an insurance undertaking. A Section 30 receipt is issued for all monies received.
Remuneration and Charges
General Insurance: Goggin Insurances may be remunerated by the Insurance Companies and Product Producers to whom orders are transmitted for new business, on renewal of existing business and/or based on the levels of business introduced; remuneration details are available on request. The firm will charge you a fixed fee or a percentage of the insurance premium and levies for the following services provided:
Scale of Fees
| ||Initial Fee ||Renewal ||Policy Alterations /Cancellations |
|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 of 20% of Premium ||Up to Max of 20%of Premium ||Up to Max of 20% of Premium |
On occasion we may need to charge rates different to the above depending on the complexity of the case in question; we shall advise you of these charges in advance and before business is transacted.
On settlement of your account, we will forward to you all documents showing ownership of your policy i.e. Motor Certificate & Disc and Policy Schedules. Where a series of transactions are involved, we will normally hold each document until the series is complete and then forward them to you.
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