John Neville Insurances Limited
John Neville Insurances Limited,
Askeaton,
Co. Limerick
Tel: 061 392 224
E-mail: [email protected]
These Terms of Business set out the general terms under which our firm will provide business services to you and the respective duties and responsibilities of both the firm and you in relation to such services. 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 at the earliest opportunity.
We commit to providing you with an excellent and professional level of service. We believe in acting only in the best interest of our clients to ensure that a relationship as important and fundamental as ours is maintained for life.
John Neville Insurances Limited is regulated by the Central Bank of Ireland.
CENTRAL BANK OF IRELAND AUTHORISATION:
John Neville Insurances Limited is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Union (Insurance Distribution) Regulations 2018 and as an Investment Intermediary authorised under the Investment Intermediaries Act, 1995. Copies of our Authorisations are available on request; alternatively the Central Bank of Ireland holds registers of regulated firms which can be viewed on their website www.centralbank.ie.
CODES OF CONDUCT:
John Neville Insurances Limited is subject to the Consumer Protection Code, the Minimum Competency Code and the Fitness and Probity Standards. These codes offer protection to consumers and can be found on the Central Bank of Ireland website www.centralbank.ie.
GENERAL INSURANCE SERVICES: Inception & Renewal
We provide advice in relation to the following general insurance products: Household, Private Motor, Commercial Motor, Commercial, Public Liability and Employers Liability. Depending on your instructions we can advise you in relation to the products of the Insurance Companies and Product Producers and we will work on your behalf to negotiate competitive renewal terms on your insurance cover. We will also offer assistance to you in relation to processing claims on policies taken out through our firm. The assistance is provided either directly by our staff and/or with the assistance of an appointed loss assessor.
REMUNERATION AND CHARGES:
General Insurance:John Neville Insurances Limited may be remunerated by the Insurance Companies and Product Producers to whom orders are transmitted for new business, on renewal of existing business and/or based on the levels of business introduced; remuneration details are available on our website – www.nevilleinsurance.ie. The firm will charge you a fixed fee or a percentage of the insurance premium and levies for the services provided. Fees remunerate us for time spent working on behalf of the client and are not refundable in the event that the policy is cancelled. Fees may be waived in certain circumstances.
| Product | Minimum Fee | Maximum Fee |
|---|---|---|
| Private Motor, Household and Consumer Insurance | €50 | 40% of the Premium |
| Commercial Insurance | €100 | 30% of the Premium |
| Midterm changes/alterations | €40 | 40% of the Premium |
Retirement options advice fees are 2% of the fund value up to a maximum of €300.
A €50 fee applies when arranging premium finance on your behalf.
On the occasion we may need to charge rates depending on the complexity of the case in question; we shall advise you of these charges in advance and before business is transacted. On settlement of your account we will forward to you all documents showing ownership of your policy i.e. Motor Certificate & Disc and Policy Schedules. Where a series of transactions are involved, we will normally hold each document until the series is complete and then forward them to you.
CREDIT FINANCE
If you require credit terms, we may be able to arrange premium finance on your behalf. Alternatively a monthly direct debit facility (if available) may be operated by the Insurance Company. We cannot accept instalments paid to our office.
FINANCIAL SERVICES:
LIFE ASSURANCE, INVESTMENTS & PENSIONS:
Live Assurance Companies and some Product Producers provide many products such as Life Cover, Serious Illness Cover, Income Protection, Savings, Investments, Pensions and PRSA’s. Depending on your individual circumstances, we may provide you with advice in relation to the nature of these products and which product(s) may be suitable for your needs. You may, however, have particular areas of interest; in this case, we will be happy to give specific advice in these areas. We can give you a different life and pension products from the Insurances Companies and Product Producers with whom we hold appointment.
On your instruction; we can receive and transmit orders for such products on your behalf to these insurers and product producers. With your agreement, we may review the policies you take out on a periodic basis to ensure you are kept informed as to their benefit and to check whether they are still suitable for your needs. We will also provide assistance to you for any queries you may have in relation to the policies or in the event of a claim during the life of the 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 which may result in you having insufficient insurance cover and/or inappropriate investments. We would therefore advise that you contact us to ensure that you are provided with up-to-date advice and products best suited to your needs.
DISCLOSURE OF INFORMATION:
Any failure to disclose material information may invalidate your claim and render your policy void.
CONFLICTS OF INTEREST:
It is the policy of our firm to avoid conflicts of interest in providing you with insurance and investment business services. If this is not possible, we will notify you as soon as is practicable after we become aware of the conflict of interest and you may rest assured that you will be treated fairly where such a conflict is unavoidable.
COMPLAINTS:
We have a written complaints procedure for the effective handling of all complaints. We will acknowledge receipt of your complaint in writing within 5 working days. A written update will be issued to you every 20 days by a nominated individual within our firm. A comprehensive response to your complaint will be issued upon completion of our investigation. In the event of failure to resolve your complaint, you may raise the matter with the Financial Services Ombudsman Bureau Lo Call: 1890 88 20 90, [email protected] or the Pension Ombudsman. Our full Complaints Procedure is available on request.
OUR SERVICES:
As Insurance Intermediaries we provide advice in relation to General Insurance and Life Assurance products and services. With the significant number of appointments we hold, we can offer our clients an extensive choice of suitable products that best serve their needs and circumstances. 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. John Neville Insurances Limited are members of Brokers Ireland.
IMPORTANT NOTICE:
To ensure continuity of cover, where you have an existing policy which is due to expire and we have been unable to contact you, we may put continuing cover in force whilst awaiting your instruction. You will be liable for any premiums payable to the relevant insurer for the period of time between renewal and when we receive your instruction. You have the right not to avail of this service and should advise us accordingly.
DEFAULT ON PAYMENTS BY CLIENTS:
Our firm will exercise its legal rights to receive payments due to it from clients for investment business services provided. In particular, without limitation of 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. Insurers and other 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 to you to policy documents of product terms for the details of such provisions.
CONSUMERS: DUTY OF DISCLOSURE WHEN COMPLETING DOCUMENTATION FOR NEW BUSINESS/RENEWALS AND MIDTERM ADJUSTMENTS:
You are required to answer all questions posed by us or the insurer honestly and with reasonable care – the test will be that of the ‘average consumer’, where the ‘average consumer’ is defined as per Directive No. 2005/29/EC of the European Parliament and of the Council of 11 May 2005, as a reasonably well-informed consumer and reasonably observant and circumspect, taking into account social, cultural and linguistic factors.
Before renewal of the contract of insurance, specific questions will be asked. Again, you will be required to answer honestly and with reasonable care. Where you do not provide additional information (after being requested to do so) it can be presumed that the information previously provided remains unchanged.
Failure to answer all questions honestly and with reasonable care can result in the Insurer being able to rely on proportionate remedies for misrepresentation, which include but are not limited to the insurer voiding the contract of insurance. If a policy is cancelled by an insurer for any reason including payment default you may encounter difficulty in purchasing insurance in the future.
COMPLETED PROPOSAL FORMS/STATEMENT OF FACT:
Completed proposal forms or Statements of Facts will be provided to you. These are important documents as they form the basis of insurance contract between the insurer and you the consumer. You should review and confirm that the answers contained within are true and accurate.
COMMERCIAL CUSTOMERS: NON-CONSUMERS DISCLOSURE OF INFORMATION:
It is essential that you should bring to our attention any material alteration in risk such as changes of address or use of premises. Any failure to disclose material information may invalidate your claim and render your policy void.
PREMIUM HANDLING AND RECEIPTS:
When receiving and transmitting orders in relation to insurance policies, John Neville Insurances Limited may accept payment from clients payable to itself where an insurance undertaking has invited renewal of a policy of insurance, or the proposal for insurance has been accepted by an insurance undertaking. A Section 30 Receipt is issued for all monies received.
CREDIT INTERMEDIARY:
As a credit intermediary we may be remunerated by the premium/credit finance provider on arranging this finance on your behalf.
FINANCIAL SERVICES:
John Neville Insurances Limited may be remunerated by the Insurance Companies and Product Producer to whom orders are transmitted. Summary details of these payments will be included in a product information document which you will receive before an application form for a product is completed, and extended details will also be available with your cooling-off letter.
CANCELLATION OF A CONTRACT OF INSURANCE:
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 a 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.
DATA PROTECTION:
John Neville Insurances Limited complies with the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018.
John Neville Insurances Limited 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.nevilleinsurance.ie/privacy-notice/, if this medium is not suitable we will ensure you can easily receive a copy by; hard copy, telephonic environment.
Please contact us at [email protected] if you have any concerns about your personal data.
INVESTOR COMPENSATION SCHEME:
We are members of the Investor Compensation Scheme established under Section 38 of the Investor Compensation Act 1988. The Act provides that compensation shall be paid to eligible investors (as defined in the Act) to the extent of 90% of an investor’s net loss of €20,000, whichever is the lesser and is recognised as being eligible for compensation. 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 (or €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 Investor Compensation Scheme had failed to adequately compensate any client of the member. Full details are available on request.
Version 18.00
30/09/2022