Terms of Business
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.
For your own benefit and protection you should read these terms of business carefully before agreeing to them. If you have any questions about these terms of business please raise them with us otherwise we will assume you are in agreement with them.
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
Lir Insurance Limited is 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
Lir Insurance Limited are members of the Irish Broker Association (IBA).
STATUTORY CODES
Lir Insurances Limited is subject to and complies 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
CONFLICTS OF INTEREST
It is the policy of our firm 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.
CLIENT
These terms of business shall apply to you and all other persons named as policyholder in any insurance contract we arrange on your behalf (collectively you/your). You warrant that you have authority to enter into these terms of business on your own behalf and if applicable, on behalf of the said policyholder. These se terms of business are effective form 01 January 2015.
GENERAL INSURANCE SERVICES
We provide advice in relation to the following general insurance products: Household, Motor, Commercial, Public Liability and Employers Liability Professional indemnity Personal Accident.
FORCE MAJEURE
We shall not be liable in any way for failure to perform, or delay in performing our obligations under these terms of business if the failure or delay is due to causes outside our reasonable control including, but not limited to, act of God or governmental act, fire, explosion, flood, accident, civil commotion or industrial dispute (“Force Majeure”). In the event of a Force Majeure arising we will notify you as soon as reasonably practicable.
GOVERNING LAW AND JURISDICTION
These terms of business shall be governed by and construed in accordance with the Laws of Ireland and any dispute arising out of or in connection with it shall be submitted to the exclusive jurisdiction of the Courts of Ireland.
SINGLE INSURER PROVIDER RELATIONSHIP
For our small to Medium Enterprise Commercial and Personal Products we provide services on a tied basis. By this is meant that there is a single provider relationship in place between Lir Insurance and AIG Europe Limited – Ireland Branch for this type of insurance and product.
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. We do not accept liability for any insurer that fails to respond to all or part of any valid claims. If you are not happy with an insurer or the security it provides, please let us know immediately.
OUR SERVICES:
The service shall include but not be limited to gathering risk information and presenting your risk details to the market we have selected. Having negotiated pricing/cover details, we will present terms to you and proceed to arrange cover on your behalf as instructed by you.
Where relevant prior to the end of the insurance contract period, you will be advised by us of the terms on which the insurer of that insurance contract may be willing to renew the insurance contract for a further period. In the event that either the insurer is not willing to renew the insurance contract or we no longer arrange such an insurance contract with that insurer, we will notify you and unless you tell us otherwise, may advise you of the terms of any alternative insurance contract offered by another insurer.
At your request we may also make representations about the insurances we have arranged for you to their interested parties provided that you pay us an additional fee and we are able to either disclaim or limit our liability in a way that is satisfactory to us.
Important Notice: To ensure continuity of cover, where you have an existing policy that 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 this service and should advise us accordingly.
In addition on an on-going basis we conduct research, carry out market analysis and nurture good relationships with insurers for the benefits of our clients.
We shall exercise reasonable skill and care in the performance of our Services.
CLAIMS
We may also offer assistance to y0u in relation to processing claims, on policies taken out through Lir Insurances Limited. This assistance is provided either directly by our staff and /or with the assistance of an appointed loss assessor.
For the avoidance of Doubt, if your appointment and/or these terms of business are terminated, or we cease to act on your behalf in relation to the placement of insurance, we shall cease automatically to handle claims on your behalf in respect of insurance contracts, whether or not placed by us or otherwise.
REMUNERATION AND CHARGES:
General Insurance: Lir Insurances Ltd may be remunerated by the Insurance Companies and Product Producers, to whom orders are transmitted, both for new business, on renewal of existing business and/or based on the levels of business introduced; remuneration details are available on request. In consideration of us providing the Services to you we will be entitled to a service fee. This fee will either be a fixed you a fixed fee or a percentage of the insurance premium and levies for the following services provided:
FINANCIAL SERVICES:
Lir Insurance Ltd may be remunerated by the Insurance Companies and Product Producer to whom orders are transmitted. Summary details of these payments will be included in a product information document which you will receive before an application form for a product is completed, and extended details will also be included with your cooling-off letter.
We are not responsible for accounting for any premium taxes on behalf of you or the insurer unless there is a legal obligation on us to handle same.
PREMIUM HANDLING AND RECEIPTS:
When receiving and transmitting orders in relation to insurance policies Lir Insurance Ltd may accept payment form 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.
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.
CREDIT INTERMEDIARY:
As a credit intermediary we may be remunerated by the premium/credit finance provider on arranging this finance on your behalf.
CREDIT FINANCE
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
YOUR RESPONSIBILITIES
You agree:
To pay our service fee and charges (if applicable) in accordance with our agreement.
Each invoice issued by us in respect of the service provided shall be paid
To pay all premiums invoiced by us before the effective date of cover or in accordance with the period specified in the invoice, unless otherwise agreed between us. We will advise you if insurers have imposed a premium payment warranty or condition in which case you will pay the premium within the time specified by insurers;
To provide accurate, complete and timely information to enable us to fulfill our obligations under these terms of business, including assisting you to make a fair presentation of the risk. It is understood and agreed by you that it is your responsibility to provide all such information both before and after inception of cover (for example, where there is a change or variation in cover) and on renewals. This responsibility applies whether or not the information is available elsewhere within Lir Insurances Ltd.
That we shall provide the Services in reliance on the information and data provided by you or provided by your agent on your behalf. Any answers or statements given on a proposal or claim form or any other material document completed by you are your responsibility and should therefore be checked carefully. Unless agreed otherwise in writing, we are under no obligation to investigate any information or data provided by you and no liability shall arise for any errors or deficiencies in the Services arising out of or based on any inaccurate or incomplete information or data;
To review carefully any documentation supplied by us and advise us immediately if any such documentation does not appear to be in accordance with your instructions or requirements;
To hold harmless, indemnify and keep indemnified Lir Insurances Limited against all liability that may arise form time to time and against all claims, demands, actions, proceedings, damages, losses, costs (including all legal costs) and expenses whatsoever, arising out of or in relation to any act, omission or breach for which you are responsible, and which are made or brought against Lir Insurances Ltd in connection with our appointment hereunder;
To notify Lir Insurances Ltd insurers or us promptly, of all claims in accordance with the insurance contract conditions and procedures and to disclose all material information.
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.
Material information is information that would influence an insurer in deciding whether a risk is acceptable and, if so, the premium, terms and conditions to be applied. Under the Laws of Ireland, failure to disclose to the insurer all such information or misrepresentation could result in the insurance contract being rendered void, so that claims would not be paid.
Before inception of cover –
All material information must be disclosed to insurers to enable terms to be negotiated and cover arranged. This is not limited to answering specific questions that may be asked by the insurer or us. If you become aware that material information that you have supplied prior to the placement of your insurance contract was incorrect or incomplete you should tell us immediately.
After inception of cover –
The duty of disclosure is re-imposed when there are changes or variations in cover, when the insurance contract is renewed or extended and when making a claim. In addition, changes, which substantially increase the risk, or relate to compliance with a warranty or condition in the insurance contract, must be notified at once. Some insurance contracts contain an express obligation to notify any change in risk.
Please contact us immediately if you are in any doubt as to whether or not information might be material or if you have any concerns that we might not be aware of all material information.
You agree that you are not undertaking regulated activity. If at any time you are undertaking regulated activity you will immediately notify us.
MONEY LAUNDERING
You agree to provide such evidence and information of your identity, and that of your Associates, as we may reasonably require in order to comply with our obligations under money laundering legislation and regulations.
DEFAULT:
Failure by you to comply with a premium payment warranty or condition may give the insurer the right to cancel your insurance contract coverage or to refuse to pay any claims under the relevant insurance contract. Please contact us immediately if you may not be, or are not, able to comply with a premium payment warranty or condition.
Where premium is payable to an insurer by a certain date, you will pay us in sufficient time for us to clear those funds and make the payment to the insurer by the relevant date. We will not be responsible or liable for the payment of premium on your behalf and will not make any payment to insurers where we have not received cleared funds form you. In the event that we make a payment of any amount on your behalf prior to being in receipt of the relevant funds form you, you will immediately repay that amount on our request.
If such sums are not paid, we shall be entitled to recover that amount by means of set-off of any sums owing to you and you agree that we may do so.
CONFIDENTIALITY
Except as set out below, we agree to keep all information received form you confidential and to use it solely for the purpose of providing the Services.
This obligation of confidentiality will not apply where: you have given written permission otherwise; disclosure is required to satisfy legal obligations or regulatory requirements; disclosure is normal to broking industry practice (for example to insurers or prospective insurers); we have assigned, novated or sub-contracted the Services (of any part thereof), if required by Lir Insurances Ltd policy, in which case we will make the recipient aware that the information is confidential; such information is in the public domain; or the information is rightfully in our possession other than as a result of a breach of any obligation of confidentiality.
Lir Insurances Ltd gathers data containing information about their clients and their insurance placements, including, but not limited to, names, industry codes, policy types, and policy expiration dates, as well as information about the insurers that provide coverage to their clients or compete for their clients’ insurance placements. This information is maintained in one or more databases .If you have questions about our data processing, policies or procedures or related compensation, please contact Lir Insurance Limited
Lir Insurance Limited, reserves the right to subcontract incidental and non-core aspects of the services provided under these terms of business such as IT infrastructure and support, without your consent. Subject to the terms of this agreement, Lir Insurances Ltd will remain liable to you for the acts or omissions of such subcontractors.
This obligation of confidentiality shall cease to apply three years form termination of these terms of business or termination of our appointment.
DATA PROTECTION:
Both Parties warrant that they will observe the requirements of the Data Protection Acts 1988 and 2003 (as may be amended form time to time). We 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 used only for legitimate purposes.
To fulfil these objectives we may share information with other affiliated professionals. You understand and give explicit consent that the information provided including sensitive information will be passed to or used by Lir Insurances Limited, its agents, carefully selected suppliers, authorised bodies and insurance companies for underwriting claims handling and processing of insurance and to prevent fraud.
The information and other data provided to our office may be used to advise you of products and services we may offer form time to time. If you do not wish to receive this information please indicate below*
You have the right at any time to request a copy of any ‘personal data’ within the meaning of the Data Protection Act 1988 and 2003 (as amended or re-enacted form time to time) that our office holds about you and to have any inaccuracies in that information corrected
COMPLAINTS:
We have a written complaints procedure for the effective handling of all complaints.
DURATION AND TERMINATION
These terms of business and our appointment shall take effect immediately and shall continue with full force and effect until either
We will consider continuing to handle claims on insurance contracts we have placed for you at your request but only if we are able to do so and can agree an appropriate remuneration.
The expiry or termination of these terms of business shall not affect any provision of these terms of business that expressly or by implication is intended to survive such expiry or termination. Expiry or termination of these terms of business shall be without prejudice to accrued rights and obligations.
After termination (whatever the reason for termination) we will retain appropriate documents relating to the Services we have carried out on your behalf in electronic or paper form for at least seven years after expiry of the insurance contract. It is your responsibility to obtain or retain such documents for use after this seven-year period. We strongly recommend that you retain your own copies of any evidence of coverage we send you.
INVESTOR COMPENSATION SCHEME
We are members of the Investor Compensation Scheme established under Section 38 of the Investor Compensation Act 1998. The Act provides that compensation shall be paid to eligible investors (as defined in the Act) to the extent of 90% of an investor’s net loss or €20,000, whichever is the lesser and is recognised as being eligible for compensation.
We are also members of the Irish Brokers Association (IBA) Compensation Fund. Subject to the rules of the scheme the liabilities of its members firms up to a maximum of €100,000 per client (or €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 Investor Compensation Scheme has failed to adequately compensate any client of the member.
Further details are available on request.
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.
For your own benefit and protection you should read these terms of business carefully before agreeing to them. If you have any questions about these terms of business please raise them with us otherwise we will assume you are in agreement with them.
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
Lir Insurance Limited is 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
Lir Insurance Limited are members of the Irish Broker Association (IBA).
STATUTORY CODES
Lir Insurances Limited is subject to and complies 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
CONFLICTS OF INTEREST
It is the policy of our firm 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.
CLIENT
These terms of business shall apply to you and all other persons named as policyholder in any insurance contract we arrange on your behalf (collectively you/your). You warrant that you have authority to enter into these terms of business on your own behalf and if applicable, on behalf of the said policyholder. These se terms of business are effective form 01 January 2015.
GENERAL INSURANCE SERVICES
We provide advice in relation to the following general insurance products: Household, Motor, Commercial, Public Liability and Employers Liability Professional indemnity Personal Accident.
FORCE MAJEURE
We shall not be liable in any way for failure to perform, or delay in performing our obligations under these terms of business if the failure or delay is due to causes outside our reasonable control including, but not limited to, act of God or governmental act, fire, explosion, flood, accident, civil commotion or industrial dispute (“Force Majeure”). In the event of a Force Majeure arising we will notify you as soon as reasonably practicable.
GOVERNING LAW AND JURISDICTION
These terms of business shall be governed by and construed in accordance with the Laws of Ireland and any dispute arising out of or in connection with it shall be submitted to the exclusive jurisdiction of the Courts of Ireland.
SINGLE INSURER PROVIDER RELATIONSHIP
For our small to Medium Enterprise Commercial and Personal Products we provide services on a tied basis. By this is meant that there is a single provider relationship in place between Lir Insurance and AIG Europe Limited – Ireland Branch for this type of insurance and product.
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. We do not accept liability for any insurer that fails to respond to all or part of any valid claims. If you are not happy with an insurer or the security it provides, please let us know immediately.
OUR SERVICES:
The service shall include but not be limited to gathering risk information and presenting your risk details to the market we have selected. Having negotiated pricing/cover details, we will present terms to you and proceed to arrange cover on your behalf as instructed by you.
Where relevant prior to the end of the insurance contract period, you will be advised by us of the terms on which the insurer of that insurance contract may be willing to renew the insurance contract for a further period. In the event that either the insurer is not willing to renew the insurance contract or we no longer arrange such an insurance contract with that insurer, we will notify you and unless you tell us otherwise, may advise you of the terms of any alternative insurance contract offered by another insurer.
At your request we may also make representations about the insurances we have arranged for you to their interested parties provided that you pay us an additional fee and we are able to either disclaim or limit our liability in a way that is satisfactory to us.
Important Notice: To ensure continuity of cover, where you have an existing policy that 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 this service and should advise us accordingly.
In addition on an on-going basis we conduct research, carry out market analysis and nurture good relationships with insurers for the benefits of our clients.
We shall exercise reasonable skill and care in the performance of our Services.
CLAIMS
We may also offer assistance to y0u in relation to processing claims, on policies taken out through Lir Insurances Limited. This assistance is provided either directly by our staff and /or with the assistance of an appointed loss assessor.
For the avoidance of Doubt, if your appointment and/or these terms of business are terminated, or we cease to act on your behalf in relation to the placement of insurance, we shall cease automatically to handle claims on your behalf in respect of insurance contracts, whether or not placed by us or otherwise.
REMUNERATION AND CHARGES:
General Insurance: Lir Insurances Ltd may be remunerated by the Insurance Companies and Product Producers, to whom orders are transmitted, both for new business, on renewal of existing business and/or based on the levels of business introduced; remuneration details are available on request. In consideration of us providing the Services to you we will be entitled to a service fee. This fee will either be a fixed you a fixed fee or a percentage of the insurance premium and levies for the following services provided:
- Household: €50
- Private/ Commercial Motor : €50
- Commercial Business: Up to 30%
- Employers Liability: €150.00
- Public Liability: €150.00
- Midterm Switches/Alterations: €40.00
FINANCIAL SERVICES:
Lir Insurance Ltd may be remunerated by the Insurance Companies and Product Producer to whom orders are transmitted. Summary details of these payments will be included in a product information document which you will receive before an application form for a product is completed, and extended details will also be included with your cooling-off letter.
We are not responsible for accounting for any premium taxes on behalf of you or the insurer unless there is a legal obligation on us to handle same.
PREMIUM HANDLING AND RECEIPTS:
When receiving and transmitting orders in relation to insurance policies Lir Insurance Ltd may accept payment form 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.
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.
CREDIT INTERMEDIARY:
As a credit intermediary we may be remunerated by the premium/credit finance provider on arranging this finance on your behalf.
CREDIT FINANCE
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
YOUR RESPONSIBILITIES
You agree:
To pay our service fee and charges (if applicable) in accordance with our agreement.
Each invoice issued by us in respect of the service provided shall be paid
To pay all premiums invoiced by us before the effective date of cover or in accordance with the period specified in the invoice, unless otherwise agreed between us. We will advise you if insurers have imposed a premium payment warranty or condition in which case you will pay the premium within the time specified by insurers;
To provide accurate, complete and timely information to enable us to fulfill our obligations under these terms of business, including assisting you to make a fair presentation of the risk. It is understood and agreed by you that it is your responsibility to provide all such information both before and after inception of cover (for example, where there is a change or variation in cover) and on renewals. This responsibility applies whether or not the information is available elsewhere within Lir Insurances Ltd.
That we shall provide the Services in reliance on the information and data provided by you or provided by your agent on your behalf. Any answers or statements given on a proposal or claim form or any other material document completed by you are your responsibility and should therefore be checked carefully. Unless agreed otherwise in writing, we are under no obligation to investigate any information or data provided by you and no liability shall arise for any errors or deficiencies in the Services arising out of or based on any inaccurate or incomplete information or data;
To review carefully any documentation supplied by us and advise us immediately if any such documentation does not appear to be in accordance with your instructions or requirements;
To hold harmless, indemnify and keep indemnified Lir Insurances Limited against all liability that may arise form time to time and against all claims, demands, actions, proceedings, damages, losses, costs (including all legal costs) and expenses whatsoever, arising out of or in relation to any act, omission or breach for which you are responsible, and which are made or brought against Lir Insurances Ltd in connection with our appointment hereunder;
To notify Lir Insurances Ltd insurers or us promptly, of all claims in accordance with the insurance contract conditions and procedures and to disclose all material information.
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.
Material information is information that would influence an insurer in deciding whether a risk is acceptable and, if so, the premium, terms and conditions to be applied. Under the Laws of Ireland, failure to disclose to the insurer all such information or misrepresentation could result in the insurance contract being rendered void, so that claims would not be paid.
Before inception of cover –
All material information must be disclosed to insurers to enable terms to be negotiated and cover arranged. This is not limited to answering specific questions that may be asked by the insurer or us. If you become aware that material information that you have supplied prior to the placement of your insurance contract was incorrect or incomplete you should tell us immediately.
After inception of cover –
The duty of disclosure is re-imposed when there are changes or variations in cover, when the insurance contract is renewed or extended and when making a claim. In addition, changes, which substantially increase the risk, or relate to compliance with a warranty or condition in the insurance contract, must be notified at once. Some insurance contracts contain an express obligation to notify any change in risk.
Please contact us immediately if you are in any doubt as to whether or not information might be material or if you have any concerns that we might not be aware of all material information.
You agree that you are not undertaking regulated activity. If at any time you are undertaking regulated activity you will immediately notify us.
MONEY LAUNDERING
You agree to provide such evidence and information of your identity, and that of your Associates, as we may reasonably require in order to comply with our obligations under money laundering legislation and regulations.
DEFAULT:
Failure by you to comply with a premium payment warranty or condition may give the insurer the right to cancel your insurance contract coverage or to refuse to pay any claims under the relevant insurance contract. Please contact us immediately if you may not be, or are not, able to comply with a premium payment warranty or condition.
Where premium is payable to an insurer by a certain date, you will pay us in sufficient time for us to clear those funds and make the payment to the insurer by the relevant date. We will not be responsible or liable for the payment of premium on your behalf and will not make any payment to insurers where we have not received cleared funds form you. In the event that we make a payment of any amount on your behalf prior to being in receipt of the relevant funds form you, you will immediately repay that amount on our request.
If such sums are not paid, we shall be entitled to recover that amount by means of set-off of any sums owing to you and you agree that we may do so.
CONFIDENTIALITY
Except as set out below, we agree to keep all information received form you confidential and to use it solely for the purpose of providing the Services.
This obligation of confidentiality will not apply where: you have given written permission otherwise; disclosure is required to satisfy legal obligations or regulatory requirements; disclosure is normal to broking industry practice (for example to insurers or prospective insurers); we have assigned, novated or sub-contracted the Services (of any part thereof), if required by Lir Insurances Ltd policy, in which case we will make the recipient aware that the information is confidential; such information is in the public domain; or the information is rightfully in our possession other than as a result of a breach of any obligation of confidentiality.
Lir Insurances Ltd gathers data containing information about their clients and their insurance placements, including, but not limited to, names, industry codes, policy types, and policy expiration dates, as well as information about the insurers that provide coverage to their clients or compete for their clients’ insurance placements. This information is maintained in one or more databases .If you have questions about our data processing, policies or procedures or related compensation, please contact Lir Insurance Limited
Lir Insurance Limited, reserves the right to subcontract incidental and non-core aspects of the services provided under these terms of business such as IT infrastructure and support, without your consent. Subject to the terms of this agreement, Lir Insurances Ltd will remain liable to you for the acts or omissions of such subcontractors.
This obligation of confidentiality shall cease to apply three years form termination of these terms of business or termination of our appointment.
DATA PROTECTION:
Both Parties warrant that they will observe the requirements of the Data Protection Acts 1988 and 2003 (as may be amended form time to time). We 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 used only for legitimate purposes.
To fulfil these objectives we may share information with other affiliated professionals. You understand and give explicit consent that the information provided including sensitive information will be passed to or used by Lir Insurances Limited, its agents, carefully selected suppliers, authorised bodies and insurance companies for underwriting claims handling and processing of insurance and to prevent fraud.
The information and other data provided to our office may be used to advise you of products and services we may offer form time to time. If you do not wish to receive this information please indicate below*
You have the right at any time to request a copy of any ‘personal data’ within the meaning of the Data Protection Act 1988 and 2003 (as amended or re-enacted form time to time) that our office holds about you and to have any inaccuracies in that information corrected
COMPLAINTS:
We 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 nominated individual within our firm will issue a written up-date to you every 20 days.
- A comprehensive response to your complaint will be issued within 40 days 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 enquires@financialombudsman.ie or the Pension Ombudsman.
DURATION AND TERMINATION
These terms of business and our appointment shall take effect immediately and shall continue with full force and effect until either
- completion of the Services or
- replaced by new terms of business or
- terminated in accordance with the provisions below.
- the other is in material breach of a term of these terms of business, and if such breach is capable of remedy, fails to remedy the breach within 30 calendar days of receiving notice specifying the breach to be remedied; or
- the other shall become insolvent, or enter into receivership, liquidation, provisional liquidation, examinership or a voluntary arrangement with its creditors, or if a party ceases or threatens to cease to carry on business or has a receiver or administrative receiver appointed over, all or any part of its assets; or
- either you or we serve not less than 30 calendar days written notice of termination on the other party.
We will consider continuing to handle claims on insurance contracts we have placed for you at your request but only if we are able to do so and can agree an appropriate remuneration.
The expiry or termination of these terms of business shall not affect any provision of these terms of business that expressly or by implication is intended to survive such expiry or termination. Expiry or termination of these terms of business shall be without prejudice to accrued rights and obligations.
After termination (whatever the reason for termination) we will retain appropriate documents relating to the Services we have carried out on your behalf in electronic or paper form for at least seven years after expiry of the insurance contract. It is your responsibility to obtain or retain such documents for use after this seven-year period. We strongly recommend that you retain your own copies of any evidence of coverage we send you.
INVESTOR COMPENSATION SCHEME
We are members of the Investor Compensation Scheme established under Section 38 of the Investor Compensation Act 1998. The Act provides that compensation shall be paid to eligible investors (as defined in the Act) to the extent of 90% of an investor’s net loss or €20,000, whichever is the lesser and is recognised as being eligible for compensation.
We are also members of the Irish Brokers Association (IBA) Compensation Fund. Subject to the rules of the scheme the liabilities of its members firms up to a maximum of €100,000 per client (or €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 Investor Compensation Scheme has failed to adequately compensate any client of the member.
Further details are available on request.