Fees and Remuneration Information
Pursuant to provision 4.58A of the Central Bank of Ireland’s September 2019 Addendum to the Consumer Protection Code, all intermediaries must make available in their public offices, or on their website if they have one, a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the intermediary which it has agreed with its product producers.
What is Remuneration?
Remuneration is the payment earned by the intermediary for work undertaken on behalf of both the provider and the consumer. The amount of remuneration is generally directly related to the value of the products sold.
What is Commission?
Commission is payment that may be earned by an intermediary for work undertaken for both provider and consumer.
The products we sell are all what are regarded as ‘General insurance products’
General insurance products such as motor and home insurance through to retail or liability, motor fleet, legal contingency, event, fire insurance etc.. Most of these products are typically subject to a single or standard commission model based on the premium charged for the insurance product.
Other Fees, Administrative Costs/Non-Monetary Benefits
The firm may also be in receipt of other fees, administrative costs, or non-monetary benefits such as:
- Attendance at a conference within the State, IT software or platforms, or hospitality of a reasonable de minimis value such as food and drink during a business meeting or conference
- Assistance with advertising/branding.
Further details on the providers we work with, the products we sell and the commission available to us are as follows: Click Here