As a valued client of Tom Fogarty Insurance Brokers it is important that you are fully up to date with consumer protection information regarding this brokerage and our designation as a Section 10 Multi Agency Intermediary.

Authorised Status
Michael Fogarty trading as Tom Fogarty Insurance Brokers, 16 Bank Place, Tipperary Town is regulated as a Section 10 Multi Agency Intermediary by the Central Bank of Ireland to provide insurance services . Our authorisation number is 30137 and a copy of our Statement of Authorisation is available.

Under the Investment Intermediaries Act 1995 and the Insurance Act 2000 we may receive and transmit orders in investment instruments to each insurance company (product producer) from whom a letter of appointment is held. A list of Product Producers is available to you upon request.

Remuneration Policy
Tom Fogarty Insurance Brokers are remunerated by a combination of commission & fees. Commission, if any, is received from Product Producers to whom orders are transmitted. Some Product producers pay NO commission. Fees are charged on all New Business, Renewals, Mid-term Cancellation, Adjustments, Endorsements & Duplicate documents by way of an administration charge of up 30% of the premium subject to a minimum charge of €30.00. These charges cover: Sourcing of Product/Product Scheme, Administration Costs, Risk Management, Claims Handling Assistance, Renewal Negotiation, Compliance Costs and Advice. We may on occasions source product through a Wholesale Broker. The Wholesale Broker may charge a fee for this service which will be reflected in the price of the product. Premium rebates are subject to an administration charge/rebate fee of no more than 10% of the rebate amount subject to a minimum charge of €30.00. We do reserve the right to offset premium rebates due to clients against any sums outstanding from that client to us and/or the client’s insurers. There is no VAT charge on any insurance transaction however stamp duty and/or government levies may apply.

Conflict of Interest
It our policy to avoid any conflict of interest when providing business services to clients. However, where an unavoidable conflict may arise we will advise you of this in writing before providing any business service. If you have not been advised of any such conflict you may assume that none arises.

Complaints Procedure
We will acknowledge each complaint received in writing within 5 business days of the complaint being received. We will provide the complainant with the name of the Complaints Officer as the main point of contact in respect of their complaint until their complaint is resolved or cannot be processed any further. We will provide the complainant with a regular written update on the progress of the investigation of the complaint at intervals of not greater than 20 business days. We will attempt to investigate and resolve the complaint within 40 business days of having received the complaint. When the 40 days has elapsed, if the complaint is not resolved, we will inform the complainant of the anticipated timeframe within which we hope to resolve the complaint. At this point we will inform the complainant of their right to refer the matter to the Financial Services Ombudsman’s Bureau www.financialombudsman.ie. Where we resolve the complaint, we will advise the complainant in writing, within 5 business days of the completion of the investigation of the complaint, the outcome of the investigation and where applicable explain the terms of any offer or settlement being made. We will also inform the complainant of their right to refer the matter to the Financial Services Ombudsman’s Bureau or the Pensions Ombudsman.

Handling Clients Money
Tom Fogarty Insurance Brokers may accept payments in cash , cheques , cash /credit cards and bank / post office drafts in respect of all classes of insurance in the circumstances permitted under Section 25G of the Investment Intermediaries act , 1995. We are not authorised to accept cash or negotiable instruments in any other circumstances. A section 30 receipt is issued for all financial transactions with us, this is issued with your protection in mind and should be kept in a safe place . Payment in all cases other than cash is deemed to apply when the funds are cleared and paid by the relevant financial institution.

Where the Client fails to pay
In the event that a client fails to pay within the credit terms agreed when cover is arranged we will advise the Product Producer concerned and all cover will be cancelled. Insurers may charge a time on risk premium and we will charge an administration charge.

Consumer Protection
Tom Fogarty Insurance Brokers are members of the Investor Compensation Scheme established by the Investor Compensation Act 1998 & administered by the ICCL. This legislation provides for the establishment of a compensation scheme and to the payment in certain circumstances, of compensation to clients of firms covered by the Act. However , you should be aware that a right to compensation will only arise where money or investment instruments held by this firm 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 that Act . In the event that a right to compensation is established the amount payable is the lesser of 90% of your loss which is recognised as being eligible for compensation or € 20,000. We are also bonded through the Irish Brokers Association for €200,000 with an inner limit of €65,000 per client . We also hold Professional Indemnity Insurance for errors & omissions.

Data Protection Act 1988
As a ‘data user’ we are under a duty to take all necessary security measures to prevent the improper disclosure or loss of personal data held within computers and other equipment and we undertake to ensure that there is no improper disclosure or loss of data or abuse of computer passwords and otherwise complies with the provisions of the Data Protection Act 1988. We may exchange data internally within the brokerage with our financial services
division known as Fogarty Barlow Financial Services, we will not exchange such data on your written instructions.

Optional Additional Insurance Add Ons
At policy inception or renewal we may offer you optional insurance products or services – such as legal protection or personal accident insurance cover.
These are optional benefits and will be clearly indicated to you as such – the cost of these optional benefits will also be shown separately on our documentation. Please tick the box at the end of this sentence if you wish to be offered these optional extra benefits.

Other Issues
Please note we may record and store telephone calls, written correspondence and electronic communication to you and from you.

Client Acknowledgement
I acknowledge and confirm that I have been provided with a copy of the Terms of Business of Tom Fogarty Insurance Brokers and that I have read through and understand these terms and that we agree to accept the Terms of Business offered and agree to be bound by these terms in all our dealings.

I understand that this Terms of Business letter supercedes with immediate effect any others that we may have previously issued to you

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