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Terms of Business

 

Michael Henchy (Insurances) Limerick Ltd. t/a Insuretogether.ie is regulated by the Central Bank of Ireland as an Authorised Adviser, a copy of the firm’s Statement of Authorised Status is attached (Appendix 1).

This firm does not have any “tied” relationships with any institution that would compromise our ability to offer you independent advice and choice. This firm is also a member of the Irish Brokers Association (IBA).

Michael Henchy (Insurances) Limerick Ltd., is authorised to provide the following services.

 Offer broad based advice in relation to all classes of non-life insurance (motor, property, liability, marine etc.,) and also in relation to life assurance products (life assurance policies, pensions, savings and investments life assurance policies)
 Receive and transmit orders on your behalf for a product(s) to one or more Product Producers –
List available on request.
Remuneration Policy
Michael Henchy (Insurances) Limerick Ltd., may apply an administration charge of €50.00 on Private Car/Commercial Vehicle Motor Premiums and €75.00 on Home/Personal Insurance Premiums for the provision of broad based advice, a €15.00 charge for all alterations, and an administration charge/fee of up to 15% of the Policy premium with a minimum of €75.00 for the provision of broad based advice regarding non-life and non-personal insurance.
In the event of additional complexity or where a Product Producer does not grant us commission the premium will also be subject to the standard commission percentage in addition to our own fee as above. The rate of fees charged is consistent with the industry average.

Conflict of Interest and Complaints
 It is the policy of the firm 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 in writing before providing any business service. If you have not been advised on any such conflict you may assume none arises.
 This firm has a written procedure in place for the effective consideration and handling complaints. This procedure ensures that all complaints will be recorded and written complaints acknowledged in writing within 14 days. All complaints will be fully investigated and the outcome of the investigation will be communicated to the person who raised the complaint.

In the event that you remain dissatisfied with the firms handling and response to your complaint contact may be made with The Central Bank of Ireland and/or the Irish Brokers Association, 87 Merrion Square, Dublin 2. In addition to the Compensation available under the “Investor Compensation Act, 1998”, Michael Henchy (Insurances) Limerick Ltd., is bonded through its membership of IBA for €200,000 with an inner limit of €65,000 per client.

Consumer Protection

*Investor Compensation Company Ltd.,(ICCL)
This firm 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 for 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 less 90 per cent of your loss which is recognised as being eligible for compensation or EUR 20,000.”
PLEASE NOTE: MICHAEL HENCHY INSURANCES (LIMERICK) LTD. DOES NOT GUARANTEE THE FINANCIAL POSITION AND SOLVENCY OF ANY INSURER AND ACCEPTS NO RESPONSIBILITY IN THE EVENT OF THE FAILURE OF AN INSURANCE PROVIDER TO MEET IT’S LIABILITIES.
Handling Clients Money
Michael Henchy (Insurances) Limerick Ltd., will accept payments in cash and by cheque in respect of all classes of insurance in the circumstances permitted under Section 25G of the Investment Intermediaries Act, 1995.
Michael Henchy (Insurances) Limerick is not authorised to accept cash or negotiable instruments in any other circumstances.

Where the Client Fails To Pay
In the event that a client fails to pay within the credit terms agreed when cover is arranged, the Firm will advise the Product Producer involved and cover will be cancelled.
Receipts
Michael Henchy (Insurances) Limerick shall issue a receipt for each non-negotiable or negotiable instrument of payment received. This is required pursuant to Section 30 the “Investment Intermediaries Act, 1995.” These are issued with your protection in mind and should be stored safely.