Fees and Remuneration Information
Following 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.
Commission we earn from insurers are set out in this link.
The products we sell are all what are regarded as ‘General insurance products’
These would range from motor and home insurance through to liability , motor fleet, legal contingency, event, Fire insurance etc.. Most of these products attract a single or standard commission rate based on the premium quoted for the business.
The firm may also be remunerated by fees which are charged on certain products where either there are no earnings from a product producer or earnings are insufficient to cover overhead or specific expertise of the firm is being called upon.
Our fees are set out in the Scale of Fees.