Important Information
Caoga Motor and Caoga Household are products administered by J.F. Dunne Insurances Ltd. As a valued client or potential client of J.F. Dunne Insurances Ltd., we would like to inform you of some important information regarding our Brokerage.
Terms of Business
These terms of business set out the basis on which J.F.Dunne Insurances Ltd 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. J.F.Dunne Insurances Ltd is regulated by the Central Bank of Ireland and is a member of the Irish Brokers Association.
Authorised Status
J.F.Dunne Insurances Ltd. is authorised by the Central Bank of Ireland under the Investment Intermediaries Act 1995, and is registered with the Central Bank of Ireland as an Insurance Intermediary and Product Producer under the Insurance Mediation Directive. J.F.Dunne Insurances Ltd is also registered with the National Consumer Agency to act as a Credit Intermediary. Copies of our various authorisations are available on request.
Statutory Codes
J.F.Dunne Insurances Ltd. is subject to and complies with the Consumer Protection Code, Minimum Competency Code and the Fitness and Probity Standards as laid down by the Central Bank of Ireland. These codes offer protection to consumers and can be found on www.centralbank.ie
Services Provided
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. We will offer advice on a fair analysis basis in relation to commercial combined, liability and personal lines insurance policies. This means we will research the market place and providers and recommend the best product to suit your own needs. Health Insurance is offered on a tied agency basis with Aviva Health Insurance Ireland Ltd. Our scheme businesses are also provided on a tied agency basis:
- Caoga Motor placed with Chartis Europe Ltd
- Caoga Household placed with Zurich Insurance plc
- J.F.Dunne Insurances Bus & Coach Programme placed with Chartis Europe Ltd
As a Credit Intermediary, J.F.Dunne Insurances Ltd can arrange personal loans e.g. premium finance.
Remuneration and Fees
J.F.Dunne Insurances Ltd is remunerated by commission from a product producer for the work involved in placing an order and finalising the product with them on your behalf (details of commission arrangements are available on request) and by way of a fee for the activity and time spent in seeking the best terms, premium, advice, and product for your specific needs at quotation and renewal stages of the policy. An administration fee is also charged for the activity involved on the policy including any alterations that take place during and at termination of a policy. A scale of our fees is under noted. (percentage amounts applied to insurance premium)
| Scale of Fees | Initial Fee | Renewal | Mid Term Alterations |
|---|---|---|---|
| Motor | Up to 20% | Up to 20% | Up to €25 per transaction |
| Household | Up to 25% | Up to 25% | Up to €25 per transaction |
| Commercial | Up to 30% | Up to 30% | Up to €35 per transaction |
| PSV/Bus & Coach | Up to 20% | Up to 20% | Up to €35 per transaction |
| Caoga | Up to 35% | Up to 35% | Up to €25 per transaction |
| Health | NIL | NIL | NIL |
For Broking services from J.F.Dunne Insurances a flat charge of €95 per hour is charged, we reserve the right to charge a higher rate in the event that the complexity of the product requires increased resources allocated. We will confirm and agree this fee with you prior to any increased charge being applied. A fee of €20 will be charged for all duplicate documentation.
Premium Handling
J.F.Dunne Insurances Ltd 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 Act, 1995. J.F.Dunne Insurances Ltd is not authorised to accept cash or negotiable instruments in any other circumstances. Premiums are due on / or before renewal / inception date. Under the Central Bank 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.
Finance is available for the payment of insurance premia. This facility allows the insured to spread the cost of insurance premia over a number of instalments. All charges/fees in relation to this facility are provided when placing loan. Loans are payable by Direct Debit. In the event that a Direct Debit is returned unpaid the finance house will issue a letter of advice. It is important to deal with arrears in an efficient and effective manner. J.F.Dunne Insurances, if required, will assist you in this process. Early settlement of arrears will avoid cancellation of loan facility and guarantee continuation of cover on Insurance Policies. In the event you require further arrears payment advise/guidelines please check out the Money Advise and Budgeting Service (MABS).
Return Premiums
In the event of cancellation, mid-term alteration or other policy adjustment, any rebate due back from the insurance company will be refunded to our client in full within 5 days of the rebate becoming available to us. No rebate will be due on a cancelled policy or deleted vehicle where a claim has occurred in that policy year. The Benefits section of the Bus & Coach Policy does not attract any refund in the event of suspension, up to 60% of the pro rata benefit is refundable in the event of cancellation. There is no refund given on Fees or on the Car Breakdown Recovery Service. It is the policy of J.F.Dunne Insurances Ltd not to charge or refund account balances under €10. Where these amounts may arise, they will be written off without referral.
Failure 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
- your bank returns your cheque due to insufficient funds or any other reason
- non disclosure of relevant information
- Insurer imposed cancellation
Your insurer may cancel your policy in certain circumstances. These conditions are clearly outlined on all policy documents. When your policy ends or is cancelled, we will send you any documentation and information that you are entitled to on request.
Cancellation / Cooling Off Period
A consumer (as defined by SI No. 853 of 2004) has the right to withdraw from an insurance policy (as defined under 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 the Cooling Off period. The right of withdrawal may be exercised by notice in writing to J.F.Dunne Insurances Ltd, 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 J.F.Dunne Insurances Ltd.
You, the customer can cancel your policy by notice in writing at any time. Provided that all reasonable charges pertaining to costs incurred by J.F.Dunne Insurances Ltd 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 proportionate return 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 Windscreen Disc to J.F.Dunne Insurances Ltd. 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.
Conflict of Interests
It is the policy of J.F.Dunne Insurances Ltd to avoid any conflict of interest when providing business services to its 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 arises.
Complaints Procedure
The company has a written procedure in place for the effective consideration and handling of complaints. Any complaints should be addressed in writing to the Complaints Manager, J.F.Dunne Insurances Ltd. 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 the firm's handling of and response to your complaint, contact may be made with the Irish Brokers Association, and ultimately you have the right to complain to the Financial Services Ombudsman.
- The Irish Brokers Association (IBA), 87 Merrion Square, Dublin 2
www.irishbrokers.com - Financial Services Ombusman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2
www.financialombudsman.ie
Data Protection
J.F.Dunne Insurances Ltd is a Data Controller as defined in the Data Protection Act 1988 and 2003. 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 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 holds about you and to have any inaccuracies in that information corrected.
Consumer Correspondence
It is the policy of J.F.Dunne Insurances Ltd to record all inbound and outbound calls from our offices at all times for Regulatory, Training and Quality Assurance purposes. J.F.Dunne Insurances may contact you on occasion with information on existing or new products that may be of interest or benefit to you.
Investor Compensation
Investor Compensation Company Ltd. (ICCL) Scheme
J.F.Dunne Insurances Ltd is 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 of 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 for the 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 client’s 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), J.F.Dunne Insurances Ltd is 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.
If you have any query or concern with regard to any part of the above, please do not hesitate to contact us.
J.F. Dunne Insurances Ltd. is regulated by the Central Bank of Ireland.
J.F. Dunne Insurances Ltd. is a part of the J.F. Dunne Group.
Distance Sales
Supplier/Product Information - J.F. Dunne Insurances Ltd.
Supplier
J.F. Dunne Insurances Ltd. has its registered office at Block 1, Embassy Office Park, Kill, Co. Kildare. It is registered in the Companies' Registration Office under Company No. 146126. J.F. Dunne Insurances Ltd. are in a position to place your business with leading insurers and other financial institutions, where relevant. J.F. Dunne Insurances Ltd. is an independent Insurance Broker with Authorised Advisor status regulated by the Central Bank of Ireland. Codes of conduct are imposed by the Central Bank and can be accessed on its website at www.centralbank.ie.
J.F. Dunne Insurances Ltd. is a member of the investor compensation scheme established under the Investor Compensation Act, 1998. This legislation provides for the establishment of a compensation scheme and to the payment, in certain circumstances, of compensation to clients of firms covered by the Act. However, you should be aware that a right to compensation will only arise where money or investment instruments held by this firm on your behalf cannot be returned either for the time being or in the foreseeable future, and where the client falls within the definition of eligible investor as contained in that Act. In the event that a right to compensation is established, the amount payable is the lesser of 90 per cent of your loss which is recognised as being eligible for compensation of €20,000.
In addition to the Compensation available under the Investor Compensation Act, 1998, J.F. Dunne Insurances Ltd. is bonded through its membership of the IBA for €200,000 with an inner limit of €65,000.
Supplier's Price
The price payable to J.F. Dunne Insurances Ltd. for insurance is the premium (including applicable government levies and premium taxes). This premium, the rate at which any applicable government levies and/or premium taxes are applied, the payment options, any service charge applicable to credit payments, any claims or convictions loadings (where applicable) and any optional covers included are separately specified by J.F. Dunne Insurances Ltd. Acceptable payment methods are cheque, bank draft, postal order, credit card, debit card or cash.
Quotations
Quotations provided by J.F. Dunne Insurances are valid for a period of 30 days only.
Right of withdrawal
A consumer (as defined in the legislation) has the right to withdraw from any J.F. Dunne Insurances Ltd. policy:
- within 14 days of the later of the inception date of cover, or of the date on which the consumer receives the policy Schedule; or
- before the period of cover has expired, if the consumer is proposing for a short term event policy of insurance of less than 14 days duration.
A short term event policy will be fully performed and the right of withdrawal will accordingly cease once the period of cover has expired, even if that occurs before the expiry of the 14 day withdrawal period that would otherwise apply. The right of withdrawal may be exercised by notice in writing, quoting the policy number. Should this right be exercised, J.F. Dunne Insurances Ltd. will refund the paid premium and cover will be withdrawn from the proposed inception date. If the cover is motor insurance, the premium cannot be refunded until the Certificate of Motor Insurance and Disc has been returned to J.F. Dunne Insurances Ltd. In this case, a charge may be made for the period between the inception date and the date of return of the Certificate and Disc.
Main characteristics of the policy
The main characteristics of your (the consumer's) insurance policy are as set out in your policy document. These documents are available for you to download here:
Period of insurance
The period of insurance in respect of any policy held with J.F. Dunne Insurances Ltd. will be the period specified by J.F. Dunne Insurances Ltd. as such in the Policy Schedule/Renewal notice.
Default
Non-payment of premium or part thereof or breach of certain conditions of a J.F. Dunne Insurances Ltd. policy may lead to the policy being revoked or cancelled. Reference should be made to the policy document for the precise terms in respect of a particular case.
Cancellation
In the majority of cases, both the insured and J.F. Dunne Insurances Ltd. are entitled to cancel the policy by notice in writing. Certain policies are, however, non-cancellable and reference should always be made to the applicable J.F. Dunne Insurances Ltd. policy for the precise terms applicable to the particular case.
Governing law
The laws of Ireland will apply to any J.F. Dunne Insurances Ltd. policy and the Irish courts will have jurisdiction to hear any dispute regarding it, unless otherwise stated on the J.F. Dunne Insurances Ltd. proposal form or policy terms and conditions.
Language
A J.F. Dunne Insurances Ltd. policy, and all communications in respect of the policy, will be in English.
Complaints
J.F. Dunne Insurances Ltd. aims to provide a quality service. Any enquiry or complaint should be forwarded, with your policy/quote number and details, to:
Mr. Carlos Dunne
J.F. Dunne Insurances Ltd.
Embassy Office Park, Kill, Co. Kildare
t: 045 878500 f: 045 876151 e: insure@jfd.ie