TERMS OF BUSINESS
These Terms of Business set out the general terms under which we will provide business services to you and the respective duties and responsibilities of both ourselves and you in relation to such services and are applicable from 25/7/2018. Please ensure that you read these terms thoroughly and if you have any queries we will be happy to clarify them. If any material changes are made to these terms we will notify you.
Authorisation and Codes of Conduct
Carron Insurances Limited is regulated by the Central Bank of Ireland. You may contact the Central Bank of Ireland on 1890 777 777 or alternatively visit their website at www.centralbank.ie to verify our credentials. Our reference code is C6129. We are also subject to the Consumer Protection Code, Minimum Competency Code and Fitness & Probity Standards which offer protection to consumers. These Codes can also be found on the Central Bank’s website.
Our principal business is to provide advice and arrange transactions on behalf of clients in relation to Life, Pensions, Investments, Deposits & General Insurance. We provide our services from the selection of products provided by the Companies we have agencies with. We recommend the product that, in our professional opinion, is best suited to your needs and objectives from this selection of products. We have agencies with the following;
|General Insurance Companies||Covercentre Insurance Ltd|
|Aon||DAS Legal Expenses Insurance Company Ltd|
|Accident & General Insurance Services Ltd||DUAL Underwriting Ltd|
|AIG Europe Ltd (Ireland Branch)||Ecclesiastical Insurance Group|
|Alan B Kidd & Co Ltd
|Hickey Clarke & Langan General Insurances Ltd|
|Allianz Plc||KennCo Underwriting Ltd|
|ARB Underwriting LtdTop of Form
Bottom of Form
|Gunne Robinson O’Higgins Ltd|
|Arthur J Gallagher (UL) Ltd||Hooper Dolan Insurances Ltd|
|AXA Insurance DAC||Liberty Insurance dac|
|Benchmark Underwriting Limited||M J O’ Neill (Insurances) Ltd|
|BMCI Insurance & Investments Limited||NMU (Speciality) Ltd|
|Chubb Insurance Company of Europe SE||O'Driscoll O'Neil DAC|
|Citynet Insurance Brokers Ltd||Optis Insurance Ltd|
|Prestige Underwriting (Ireland) Services Ltd||Harcourt Life Ireland dac|
|Robertson Taylor W & P Longreach||Independent Trustee Company Limited|
|RSA Insurance Ireland dac||Irish Life Assurance Plc|
|Travelers Insurance Company Limited||KBC Bank Ireland Ltd|
|Willis Risk Services (Ireland) Limited||Newcourt Retirement Fund Managers Limited|
|Wrightway Underwriting Ltd||New Ireland Assurance Company plc|
|Zurich Insurance plc||Standard Life Assurance Company|
|Life & Investment Companies||The Royal London Mutual Insurance Society Limited|
|Aviva Life & Pensions UK Limited||Wealth Options Ltd|
|Friends First Life Assurance Company DAC||Zurich Life Assurance plc|
Disclosure of Information
We will provide assistance to you for any queries you may have in relation to your policies or in the event of a claim during the life of the policies and we will explain to you various restrictions, conditions and exclusions attached to your policy. However, it is your responsibility to read the policy documents, literature and brochures to ensure that you understand the nature of the policy cover. Material information about medical history, non-smoker status, occupation category and any hazardous pursuits are central to underwriting decisions and it is imperative that all information you provide to the insurer is accurate and complete. Any failure to disclose material information may invalidate your claim and render your policy void. You must disclose any material information including any material changes that might take place between the time you complete an application form and the time your pay the first premium. To assist us in providing you with a comprehensive service and to keep our records as up-to date as soon as possible, please notify us of any changes to your personal circumstances, e.g. name change, change of address, etc.
Carron Insurances Limited is remunerated by commission and other payments from product producers on the completion of business. You may choose to pay in full for our services by means of a fee. Where we receive recurring commission, this forms part of the remuneration for ongoing advice provided on that business.
In certain circumstances, it will be necessary to charge a fee for services provided. In other circumstances where fees are chargeable or where you choose to pay in full for our service by fee, we will notify you in writing in advance and agree the scale of fees to be charged if different from fees outlined below.
Client Monies & Receipts
Carron Insurances Limited may only accept payment from clients payable to itself where an insurance undertaking has invited a renewal of a policy of insurance, or the proposal for insurance has been accepted by an insurance undertaking. In all other instances payment must be made out to the Product Provider. A Section 30 receipt is issued for all monies received. We shall issue a receipt for each non-negotiable or negotiable instrument or payment received. These are issued with your protection in mind and should be stored safely.
The acceptance by Carron Insurances Limited of a completed proposal DOES NOT in itself constitute the effecting of a policy. It is only when the Provider confirms the policy is in place that your policy is live.
It is in your best interests that you review, on a regular basis, the products which we have arranged for you. As your circumstances change, your needs will change. Please advise us of those changes and request a review of the relevant policy so that we can ensure that you are provided with up to date advice and products best suited to your needs.
Conflicts of interest
It is our policy to avoid conflicts of interest in providing services to you. However, where an unavoidable conflict of interest arises we will advise and agree this with you in writing before providing you with any service. A full copy of our conflict of interest policy is available on request. As per above on remuneration policy we receive payment from the providers for your business.
Default on payments by clients
We will exercise our legal rights to receive payments due to us from clients (fees) for services provided. Product producers may withdraw benefits or cover in the event of default on payments due for products arranged for you. We would refer you to policy documents or product terms for the details of such provisions.
We have a complaints procedure which is available on request. Your complaint can be in writing, email, telephone or face to face. If your complaint is face to face or by phone we will write to you to confirm our understanding of your complaint. We will acknowledge your complaint within 5 business days, advising you of the name of the person dealing with your complaint on behalf of the company. Please address any complaint to Carron Insurances Limited 79 Main Street, Blackrock, Co. Dublin. If in the event, a complainant is dissatisfied with the outcome of our investigation, you are entitled to refer the matter to the Financial Services & Pensions Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2, Lo call 01 5677000 email firstname.lastname@example.org
The data we hold on you will be processed only in ways compatible with the purposes for which it was given. Our full Privacy Notice on Data Protection will be issued to you separately.
Investor Compensation Scheme
We are members of the Investor Compensation Scheme. The Investor Compensation Act, 1998 provides for the establishment of a compensation scheme and the payment, in certain circumstances, of compensation to certain clients (known as eligible investors) of authorised investment firms, as defined in that Act. Compensation may be payable where money or investment instruments owed or belonging to clients and held, administered or managed by the firm cannot be returned to those clients for the time being and where there is no reasonably foreseeable opportunity of the firm being able to do so. A right to compensation will arise only: If the client is an eligible investor as defined in the Act; and If it transpires that the firm is not in a position to return client money or investment instruments owned or belonging to the clients of the firm; and To the extent that the client’s loss is recognised for the purposes of the Act. Where an entitlement to compensation is established, the compensation payable will be the lesser of: 90% of the amount of the client’s loss which is recognised for the purposes of the Investor Compensation Act, 1998; or Compensation of up to €20,000. For further information, contact the Investor Compensation Company Ltd. at (01) 224 4955.
Governing Law and Business Succession
These Terms of Business shall be governed by and construed in all respects according to the laws of the Republic of Ireland and will be deemed to cover any successors in business to Carron Insurances Limited
I/We acknowledge that I/We have been provided with Terms of Business and data privacy notice for Carron Insurances Limited and confirm that I/We have read and understand them.
I/We confirm having read the privacy Notice and in relation to Data Protection, I/We consent to Carron Insurances Limited making contact with me in relation to the range of services provided by ourselves or our associated or partnership companies which we feel may be of interest to you and to the sharing of relevant information. We will still be allowed to contact you in relation to the business we have advised you on, even if you opt out of marketing material. You have the right to be removed from our marketing lists in the future, by contacting us and requesting same.
If you wish to avail of these services, please tick here;
☐ Social Media
(Otherwise you will not be on our mailing list).
We may also use automated data processing or profiling to allow us to give you quotes etc., and for marketing purposes, by signing these terms of business you are also agreeing to us using these systems on your data.