Terms of Business
These Terms of Business set out the basis on which The Kindlon Insurance Group 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.
Kindlon Insurances Ltd is regulated by the Central Bank of Ireland and is a member of the Irish Brokers Association.
Kindlon Insurances Ltd is authorised by the Central Bank of Ireland under the Investment Intermediaries Act 1995 and is registered with the Central Bank as an Insurance Intermediary under the Insurance Mediation Directive. Copies of our various authorisations are available on request.
Kindlon Insurances Ltd is subject to and complies with the Consumer Protection Code, Minimum Competency code and the Fitness and Probity Standards as laid down by the Central Bank of Ireland.
We will offer advice on a Fair analysis basis in relation to all classes of Insurance policies. This means we will research the market place and providers, and recommend the best product to suit your own needs. We will identity and select a suitable product producer and on receipt of your instructions we will transmit orders on your behalf to one or more product producers, (a list of which is available on request.) This firm does not have “tied” relationship with any institution that would compromise our ability to offer you independent advice and choice.
Conflicts of Interest
It is the policy of the Company to avoid any conflict of interest when providing business services to its clients. However, where an unavoidable conflict may arise we will advice you of this before proceeding to provide any business service. If you have not been advised of any such conflict you are entitled to assume that none arises.
Remuneration & Fees
Our income is generated from a combination of Commission and Brokerage Fees for professional services. Fees may be charged for arranging insurance or for provision of advice and will be shown separately on your invoice. Brokerage Fees will be non refundable in the event of policy cancellation. Earnings disclosure in respect of Life Insurance and Investments will appear in a product information document supplied in relation to such products.
Kindlon Insurances Ltd will accept payments in cash, by cheque and by credit/debit card in respect of all classes of insurance in the circumstances permitted under Section 25G of the Investment Intermediaries Act 1995. Kindlon Insurances Ltd is 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 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.
Kindlon Insurances Ltd in all cases issues receipts for each non-negotiable or negotiable instrument or payment received. This is required pursuant to Section 30 of the Investment Intermediaries Act 1995. These are issued with your protection in mind and should be stored safely.
You the customer can cancel your policy by notice in writing at any time. Provided that all reasonable charges pertaining to costs incurred by Kindlon Insurances Ltd 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. If you cancel during the first year short term rates apply, please see policy terms and conditions. In the case of cancellation of motor insurance you must return the Certificate of Insurance and Windscreen Disc to Kindlon Insurances Ltd. Insurance companies normally reserve the right to cancel policies at any time by giving appropriate notice to your last known address. Please refer to your policy terms and conditions.
Failure to pay or default
We reserve the right to instigate cancellation proceeding 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.
All claims or circumstances likely to give rise to a claim should be reported to us immediately. Failure to do so may entitle insures to refuse indemnity under the policy. If you are in any doubt as to whether or not a matter should be reported please tell us and we will be happy to advise.
The company has a written procedure in place for the effective consideration and handling of complaints. Any complaints should be addressed in writing to the Managing Director; Kindlon Insurances Ltd. Each complaint will be acknowledged by us 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, contact may be made with the Irish Brokers Association, 87 Merrion Sq, Dublin 2 and ultimately you have the right to complain to the Financial Services Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.
Kindlon Insurances 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
As a member of the Irish Brokers Association Kindlon Insurances Ltd is also a member of the IBA Compensation Fund Ltd. Subject to the rules of the scheme the liabilities of its 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.
Kindlon Insurances Ltd is a Data Controller 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 a copy of any ‘personal data’ within the meaning of the Data Protection Act 1988 (as amended or reenacted from time to time) that our office holds about you and to have any inaccuracies in that information corrected.
All communications in respect of our services will be in English
Our terms of business shall be governed by and construed in all respects according to the laws of Ireland