Contact us

Newcastle West

(069) 61422

Listowel

(068) 22000

Send us an email

Contact details:

Message:

Request a callback

Details:

Opening hours

Terms of Business

TERMS OF BUSINESS DOCUMENT

These terms of business set out the basis on which Goggins Insurance Brokers Limited 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. Goggins Insurance Brokers Ltd. are members of the Brokers Ireland, Broker Line Direct (BLD) and Source Brokers.

Authorised Status

Goggins Insurance Brokers Limited (C4988) is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Union (Insurance Distribution) Regulations 2018; as an Investment Intermediary authorised under the Investment Intermediaries Act 1995 and is registered with the Central Bank of Ireland as an Insurance Intermediary under the Insurance Mediation Directive. Copies of our various authorisations are available on request. The Central Bank of Ireland holds registers of regulated firms. 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. Goggin Insurance Brokers Ltd. is also regulated by the National Consumer Agency as a Credit Intermediary.

Codes of Conduct

Goggins Insurance Brokers Limited is subject to the Consumer Protection Code, Minimum Competency Code and Fitness & Probity Standards which offer protection to consumers. These Codes can be found on the Central Bank's website www.centralbank.ie

Services Provided

As a Broker we offer advice on a fair and personal analysis basis in relation to General Insurance. This means on your behalf we will carry out a fair and personal analysis of the market available to us; taking account of a sufficiently large number of contracts and product producers to enable us to make a professional recommendation to meet your Insurance requirements for you particular needs, objectives and circumstances. We provide advice on all classes of non-life insurance (motor, household, commercial etc) from the product producers and other intermediaries with whom we hold a written appointment (a list of which is available on request). As part of our service we will identify and advise suitable product producers and upon receipt of your instructions we will transmit orders on your behalf to one or more product producers with whom we hold a written appointment. Also as a Credit Intermediary the firm can arrange personal loans e.g. premium finance for insurance policies. (Note: 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). This firm does not have a tied relationship with any Insurance Company institution that would compromise our ability to offer you impartial advice and choice. For Deposits and Mortgages we are Tied Agents of the EBS Building Society and EBS are Tied Agents of Irish Life for Life Assurance Products. We also hold appointments with product producers offering Life Assurance, pension and investment products (a list of which is available on request). Our advice will be limited to the products available from these Insurance Companies and Product Producers.

Remuneration and Fees

Goggin Insurance Brokers Ltd are remunerated by a professional fee for the initial work activity and time spent in seeking the best terms, advice, product and product producer for your specific needs. An administration fee may also be charged for the activity involved in the renewal of the policy and also any alterations that take place during and at termination of a policy. A scale of our fees is under noted. We are usually remunerated by commission received from the product producers for the work involved in placing an order and finalising the product with them on your behalf. Details of commission arrangements are available on our website. We are also remunerated by income derived from premium financing and from interest earned on insurance monies passing through our bank accounts. Scale of Fees:


Initial Fee

Renewal

Policy Alterations / Cancellation

Motor

Up to a max of €300

Up to a max of €300

Up to a max of €300

House

Up to a max of €300

Up to a max of €300

Up to a max of €300

Commercial

Up to a max of 100% of the premium including levies

Up to a max of 100% of the premium including levies

Up to a max of 100% of the premium incl. levies


We reserve the right to amend these fees should the complexity of the product require a higher fee and will confirm and agree this fee with you prior to any charge being applied. A fee of €20 may be charged for all duplicate documentation. We also offer our customers an optional benefits package (cost €25) for motor polices which includes a claims service, breakdown recovery, legal expenses and ancillary covers. We may be remunerated on the basis of commission by product providers of pensions, investment and protection policies.

Regular Reviews

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. You must 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. Failure to contact us in relation to changes in your circumstances, may result in you having insufficient insurance cover and/or inappropriate investments.


Premium Handling

Goggin Insurance Brokers Ltd. will accept payments by Cash, Credit Card, Debit Card, cheque, fund transfer or by Direct Debit in respect of all classes of insurance in the circumstances permitted under Section 25G of the Investment Intermediaries Act, 1995. Goggin Insurance Brokers Ltd are 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 of Ireland 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.

Cancellation / Cooling Off Period

You may cancel a contract of insurance, by giving notice in writing to the insurer, within 14 working days after the date you were informed that the contract is concluded. This does not affect the notice periods already provided under European Union (Insurance and Reinsurance) Regulations 2015 ( S.I. No. 485 of 2015 ) or the European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004 ( S.I. No. 853 of 2004 ) which is 30 days in respect of life policies, irrespective of whether the sale took place on a non-face to face basis, and 14 days in respect of general policies and only on sales that took place on a non-face to face basis (distance sales).

The giving of notice of cancellation by you will have the effect of releasing you from any further obligation arising from the contract of insurance. The insurer cannot impose any costs on you other than the cost of the premium for the period of cover. This right to cancel does not apply where, in respect of life insurance the contract is for a duration of six months or less, or in respect of general insurance, the duration of the contract is less than one month. You are under a duty to pay your premium within a reasonable time, or otherwise in accordance with the terms of the contract of insurance. A court of competent jurisdiction can reduce the pay-out to you if you are in breach of your duties under the Act, in proportion to the breach involved.

Post-Contract Stage and Claims

If, in respect of the insurance contract the insurer is not obliged to pay the full claim settlement amount until any repair, replacement or reinstatement work has been completed and specified documents for the work have been furnished to the insurer, the claim settlement deferment amount cannot exceed

  • 5% of the claim settlement amount where the claim settlement amount is less than €40,000, or

  • 10% of the claim settlement amount where the claim settlement amount is more than €40,000.

An insurer may refuse a claim made by you under a contract of insurance where there is a change in the risk insured, including as described in an "alteration of risk" clause, and the circumstances have so changed that it has effectively changed the risk to one which the insurer has not agreed to cover.

Any clause in a contract of insurance that refers to a "material change" will be interpreted as being a change that takes the risk outside what was in the reasonable contemplation of the contracting parties when the contract was concluded.

You must cooperate with the insurer in an investigation of insured events including responding to reasonable requests for information in an honest and reasonably careful manner and must notify the insurer of the occurrence of an insured event in a reasonable time.

You must notify the insurer of a claim within a reasonable time, or otherwise in accordance with the terms of the contract of insurance.

If you become aware after a claim is made of information that would either support or prejudice the claim, you are under a duty to disclose it. (The insurer is under the same duty).

If you make a false or misleading claim in any material respect (and know it to be false or misleading or consciously disregards whether it is) the insurer is entitled to refuse to pay and to terminate the contract.

Where an insurer becomes aware that a consumer has made a fraudulent claim, they may notify the consumer advising that they are voiding the contract of insurance, and it will be treated as being terminated from the date of the submission of the fraudulent claim. The insurer may refuse all liability in respect of any claim made after the date of the fraudulent act, and the insurer is under no obligation to return any of the premiums paid under the contract.


Conflict of Interest It is our policy to avoid any conflict of interest when providing business services to our clients. In the unlikely event that a conflict may arise we will advise you of this in writing before proceeding to provide any business service. If you have not been advised of any such conflict you are entitled to assume that none have arisen.

In some cases, we may be a party to a profit-share arrangement with product producers where we provide extra services for the provider. Agreements to this effect are in place with the following: AXA, Aviva, and Zurich. Any business arranged with these providers on your behalf is placed with them as they are at the time of placement the most suitable to meet your requirements taking all relevant information, demands and needs into account.

Failure to pay or default

We will exercise our legal rights to receive payments due to us from clients (fees and insurance premiums) for services provided. In particular, without limitation to the generality of the foregoing, the firm will seek reimbursement for all payments made to insurers on behalf of clients where the firm has acted in good faith in renewing a policy of insurance for the client.

Product producers may withdraw benefits or cover in the event of default on payments due under policies of insurance or other products arranged for you. We would refer you to policy documents or product terms for the details of such provisions.


Complaints

Whilst we are happy to receive verbal complaints, it would be preferable that any complaints are made in writing. We will acknowledge your complaint in writing within 5 business days and we will fully investigate it. We shall investigate the complaint as swiftly as possible, and the complainant will receive an update on the complaint at intervals of not greater than 20 business days starting from the date on which the complaint is made. On completion of our investigation, we will provide you with a written report of the outcome. In the event that you are still dissatisfied with our handling of or response to your complaint, you are entitled to refer the matter to the Financial Services and Pensions Ombudsman (FSPO). A full copy of our complaints procedure is available on request.

Investor Compensation

Goggin Insurance Brokers 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. We are also members of the Brokers Ireland Compensation Fund. Subject to the rules of the scheme the liabilities of its members 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 has failed to adequately compensate any client of the member. For further information, contact the Investor Compensation Company Ltd. at (01) 224 4955.

Data Protection

Goggin Insurance Brokers Ltd is subject to the requirements of the General Data Protection Regulation 2018 ("GDPR") and the Irish Data Protection Act 2018 and is committed to protecting and respecting your privacy. We wish to be transparent on how we process your data and show you that we are accountable with the GDPR in relation to not only processing your data but ensuring you understand your rights as a client. The data will be processed only in ways compatible with the purposes for which it was given and as outlined in our Data Privacy Notice. We will ensure that this Privacy Notice is easily accessible. Please refer to our website www.gib.ie , if this medium is not suitable we will ensure you can easily receive a copy by hard copy.

You have the right to request a copy of any 'personal data' within the meaning of GDPR that our offices hold about you and have any inaccuracies corrected. Please contact us at [email protected] if you have any concerns about your personal data.

Duty of Disclosure

It is your responsibility to provide complete and accurate information for Insurers when arranging an insurance policy, throughout the life of that policy and when you are renewing it. It is important that you ensure that all information provided and all statements made on proposal forms, claim forms and other documents are to your knowledge and belief complete and accurate. Failure to disclose any material information to your insurers could invalidate your insurance cover and could mean that all or part of a claim will not be paid.

It is essential that we are notified immediately of any claims or circumstances which could give rise to a claim. 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 insurer's prior consent.

It is also 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. You must 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. Failure to contact us in relation to changes in your circumstances or failure to request a review, may result in you having insufficient insurance cover.

Governing Law and Language

The laws of Ireland form the basis for establishing relations between you and Goggin Insurance Brokers Ltd. All contracts, terms, conditions and communications relating to any policies you may enter with this firm will be in English. Should a material change take place to these terms of business you will be notified of the change(s) as soon as possible.


Terms of Business - Version 23

Effective - 11th of September 2020

Find us

Newcastle West

Bishop Street
Newcastle West
Co. Limerick
V42 XD88

Listowel

30 Upper William St
Listowel
Co. Kerry
V31 AW84

Mail us

Newcastle West:
[email protected]

Listowel:
[email protected]

Newcastle West

(069) 61422

Listowel

(068) 22000

Open 9:00am - 5:30pm

Monday to Friday