Terms of Business
Declan & Barry Goggin t/a Goggin Insurances
8/9 Lower Dorset St., Dublin 1
Branch: 3 Drogheda
Mall, Main St., Finglas, Dublin 11
Declan & Barry Goggin t/a
Goggin Insurances is regulated by the Financial Regulator as a Multi
These terms of business set out the basis on
which Goggin Insurances will provide business services to you as a
client of the firm. They also contain details of our regulatory and
statutory obligations and the respective duties of both the firm and you
in relation to such services.
Goggin Insurances are a member of the Irish Brokers Association.
Goggin Insurances are regulated by the Financial Regulator under the Investment
Intermediaries Act 1995, and are registered with the Financial
Regulator as an Insurance Intermediary under the Insurance Mediation
Directive. Copies of our various authorisations are available on
request. Our authorisations can be verified by contacting the Financial
Regulator on 1890 77 77 77. Goggin Insurances are also regulated by the
National Consumer Agency as a Credit Intermediary
We will offer broad based advice on a fair analysis basis in relation to
all classes of insurance policies. As a credit intermediary the firm
can arrange personal loans eg. premium and car finance. We will identify
and select a suitable product producer and on receipt of your
instructions we will transmit orders on your behalf to one or more
product producers (a list of which is available on request). Our firm
does not have ‘tied’ relations with any institution that would
compromise our ability to offer you independent advice and choice. We
also authorised to provide advice on PRSA’s and also act as a deposit
Remuneration and Fees
Goggin Insurances are remunerated by a professional fee for new business
and time spent in seeking the best terms, advice, product and product
producer for your specific needs. An administration fee is also charged
for the activity involved in the renewal of the policy and also any
alterations that take place during and at termination of a policy. A
scale of our fees is shown below. We are usually remunerated by
commission received from the product producers for the work involved in
placing an order and finalising the product with them on your behalf. We
also receive over-ride commissions from some insurance undertakings.
Please note some product producers may not pay a commission.
Scale of Fees
| ||Initial Fee ||Renewal ||Policy Alterations /Cancellations |
|Motor ||Up to Max €100 ||Up to Max €100 ||Up to Max €100 |
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 |
We reserve the right to amend these fees
should the complexity of the product require a higher fee. We will
confirm and agree this fee with you prior to any increased charge being
applied. A fee of €20 will be applied for all duplicate documentation.
Conflict of Interest
It is the policy of Goggin Insurances to avoid any conflict of interest
when providing business services to our clients. However, where an
unavoidable conflict may arise we will advise you of this before
proceeding to provide any business service. If you have not been advised
of any such conflict you are entitled to assume that none exists.
Goggin Insurances will accept payments in cash, by cheque and by
credit/debit card in respect of all classes of insurance in the
circumstances permitted under Section 25G of the Investment
Intermediaries,1995. Goggin Insurances are not authorised to accept
cash or negotiable instruments in other circumstances.
are due on/or before renewal/inception date. Under the Financial
Regulator legislation very strict rules apply in the payment of premiums
to insurance companies. We will not be able to pay premiums to insurers
which have not been received from clients. Therefore to avoid policy
cancellation premiums must be paid strictly within the credit terms, if
agreed, otherwise immediately prior to cover incepting.
/ Cooling Off Period
A consumer (as defined by SI No. 854 of 2004) has the right to
withdraw from an insurance policy (as defined by SI No. 853 of 2004)
within 14 days of the start date of the policy without penalty and
without giving any reason – this is known as a cooling off period. The
right of withdrawal may be exercised by notice in writing to Goggin
Insurances, quoting your policy number. Should this right be exercised
the insurance company may charge a pro rata premium for the period you
are on cover. If the cover is motor insurance the premium cannot be
refunded until the Certificate of Insurance and Windscreen Disc have
been received by Goggin Insurances.
You the customer can cancel
your policy by notice in writing at any time. Provided that all
reasonable charges pertaining to costs incurred by Goggin Insurances
have been paid and provided that no incident giving rise to a claim has
occurred in the current period of insurance, you will be entitled to a
proportion of the premium for the un-expired period of insurance unless
the policy is on a minimum and deposit basis, and if this is the case,
no return will be allowed on the policy and this will be noted on your
policy schedule. If you cancel during the first year (outside of the
cooling off period) short term rates apply, please see policy terms and
conditions. In the case of cancellation of motor insurance you must
return the certificate of insurance and insurance disc to Goggin
Insurances. Insurance Companies normally reserve the right to cancel
policies at any time by giving appropriate notice to your last known
address. Please refer to your policy terms and conditions.
to Pay or Default
We reserve the right to instigate cancellation proceedings in the event
of the following:
- Your non payment of the premium due at
inception, renewal or following a mid-term adjustment.
bank returns your cheque due to insufficient funds or any other reason.
- Non disclosure of relevant information.
- Insurer imposed
Your insurer may cancel your policy in
certain circumstances. These conditions are clearly outlined on all
policy documentation. When your policy ends or is cancelled, we will
send you any documentation and information that you are entitled to on
request. In the event of default by a client in respect of money due to
Goggin Insurances we reserve the right to pursue our legal rights and
Goggin Insurances have a written procedure in place for the effective
consideration and handling of complaints. Any complaints should be
addressed to the Office Manager, Goggin Insurances. Each complaint will
be acknowledged by us within 5 working days of receipt, updates will be
advised in intervals of not more than 20 working days. We will endeavour
to resolve the complaint within 40 business days and findings will be
furnished to you within 5 working days of completion of the
investigation. In the event that you are not entirely satisfied with our
handling of and response to your complaint, contact may be made with
The Irish Brokers Association, 87 Merrion Sq, Dublin 2 and ultimately
you have the right to complain to the Financial Services Ombudsman, 3rd
Floor, Lincoln House, Lincoln Place, Dublin 2.
Compensation Company Ltd (ICCL) Scheme
Goggin Insurances are a member of the Investor Compensation Company Ltd
(ICCL) Scheme established under the Investor Compensation Act, 1998.The
legislation provided for the establishment of a compensation scheme and
to the payment in certain circumstances, of compensation to certain
clients to firms (known as eligible investors) covered by the act.
However, you should be aware that a right to compensation would only
arise where client money or investment instruments held by this company
on your behalf cannot be returned, either for the time being or
foreseeable future, and where the client falls within the definition of
eligible investor as contained in the act. In the event that a right to
compensation is established the amount payable is the lesser of 90% of
the clients loss, which is recognised as being eligible for
compensation, or €20,000.
Irish Brokers Association (IBA) Compensation Fund Ltd
As a member of the Irish Brokers Association (IBA) Goggin Insurances are
also a member of the IBA Compensation Fund Ltd. Subject to the rules of
the scheme, the liabilities of its member firms up to a maximum of
€100,000 per client (€250,000 in aggregate) may be discharged by the
fund on its behalf if the member firm is unable to do so, where the
above detailed ICCL (established by law) has failed to adequately
compensate any client of the member.
Goggin Insurances is a Data Controller as defined in the Data
Protection Act 1988 & 2003.
We will collect your personal details in order to provide the highest
standard of service to you. We take great care with the information
provided taking steps to keep it secure and to ensure it is only used
for legitimate purposes. To fulfil these objectives we may share
information with other affiliated professionals. The information and
other data provided to our office may be used to advise you of products
and services we may offer from time to time.
You have the right at any time to request a copy of any personal data
within the meaning of the Data Protection Act 1988(as amended
or re-enacted from time to time) that our office hold about you and to
have any inaccuracies in that information corrected.
It is your responsibility to provide complete and accurate information
for Insurers when arranging an insurance policy, throughout the life of
that policy and when you are renewing it. It is important that you
ensure that all information provided and all statements made on proposal
forms, claim forms and other documents are to your knowledge and belief
complete and accurate. Failure to disclose any material information to
your insurers could invalidate your insurance cover and could mean that
all or part of a claim will not be paid.
It is essential that we are notified immediately of any claims or
circumstances which could give rise to a claim. When you notify us, you
must include all material facts concerning the claim. The policy
wordings will describe in detail the procedures and conditions in
connection with making a claim. It should be noted that there is no
cover for defence costs incurred without insurers prior consent.
Law and Language
The laws of Ireland form the basis for establishing relations between
you and Goggin Insurances. All contracts, terms, conditions and
communications relating to any policies you may enter with this firm
will be English. The terms set out above apply to any service provided
to you after 1st March 2008 and should the firm change its terms you
will be notified in advance