Terms of Business

Pat Treacy Insurance Brokers Ltd (PTI) and Quick Quotes Ltd. (QQ) are independent Insurance Brokers.
The firms are members of the Investor Compensation Scheme established under the Investor Compensation Act 1998. This legislation established a compensation scheme and, in certain circumstances, pays compensation to clients of firms covered by the act. 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 a client is within definition of eligible investor, as contained in the act. If a right to compensation is established, the account amount payable is the lesser of 90% of your loss, which is recognized as being eligible for compensation or €20,000.
PTI & QQ are also a member of the IBA Compensation Fund Ltd. Subject to the rules of the scheme, the liabilities of the 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.
The firm holds professional indemnity cover with a minimum indemnity of €1,500,000.

Services

We will offer broad based advice on a fair analysis basis in relation to all classes of insurance policies. 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 producer (a list of which is available on request). The firms do not have a “tied” relationship with any institution that would compromise our ability to offer you independent advice and choice. Hibernian Aviva are the only health insurer who offers their products in the Broker Market.
We always endeavour to avoid conflict of interest, however, if it does arise, we undertake where possible to advise in writing.
QQ is primarily the broker for car, van, house and travel products. PTI is the broker for pensions, life, health and general insurance.

Remuneration

The firms are remunerated by a professional fee and/or by commission.
Commission is paid by Product Producers for work we do on their behalf. Details are available on request. Fees are charged for work we do on clients behalf.

Clients may opt to pay for our services in full by fee.

Professional Fee; this is to cover initial work activity and time spent seeking best terms, advice, product and product producer. Fees will be charged for time spent and outlay involved. E.g. Motor and Household initial fee €50, alterations and adjustments €50, cancellation €100 and duplicate documents €50. Processing direct debit defaults €50. Currently our hourly rate is €250 for senior staff and €100 for support staff. Obviously specialist skills, complex issues and the degree of urgency will be taken into account and may attract extra charges. 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 in advance, Where advice only is sought, this will be done solely by fee. For Life, pensions, investments etc. the firm is remunerated by commission or fee.

Premium Handling

PTI will accept payments in cash, and cheque for all classes of insurance in the circumstances permitted under section 25G of the Investment Intermediaries Act, 1995. The firm is not authorized to accept cash or negotiable instruments in any other circumstances. QQ will accept payment by credit card subject to payment of any transaction fees.
Premiums are due on or before renewal/inception date. Under Financial Regulator legislation very strict rules apply to the payment of premiums to Insurance companies. We will not be in a position 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 the inception of .the policy.

Cancellation/Cooling off period

You the customer can cancel your policy by notice in writing at any time. Provided that all reasonable charges pertaining to costs incurred 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.

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. Please keep documentation safe as duplicates will attract a fee.

Complaints Procedure for PTI and QQ

Complaints should be made in writing. We will acknowledge each complaint 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 firms handling of and response to your complaint, ultimately you have the right to complain to The Financial Services Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.

Data Protection

PTI & QQ are Data controllers 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 fulfill 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 copy of “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 have any inaccuracies in that information corrected.

Governing Law and Language

The laws of Ireland form the basis for establishing relations. All contracts, term, conditions and communications relating to any policies you may enter with this firm will be in English. The terms set out above apply to any service provided to you and should the firm change its terms you will be notified in advance.

Claims

It is essential that we are notified immediately of any claims or circumstances, which could give rise to a claim. Some insurers offer 24 hour phone services and those numbers are normally provided with documentation or are available on request. 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.

Acceptance

Clients are requested to sign for receipt and acceptance of these terms.