Terms Of Business

Biz Broker Ltd t/a Clarke & Conlon Insurance Brokers  has over 30 years experience in the business insurance sector.  We specialise in the construction, manufacturing, retail and leisure industries. We also offer personal lines insurance ie: home & motor.

Biz Broker Ltd t/a Clarke & Conlon Insurance Brokers is regulated by the Central Bank of Ireland.

Biz Broker Ltd t/a Clarke & Conlon Insurance Brokers are authorised to receive and transmit orders on your behalf for insurance products to those insurers with whom we have agencies for the following services:
General Insurance Broking
Life & Pensions Broking
Risk Management
Claims Handling

Biz Broker Ltd t/a Clarke & Conlon Insurance Broker’s income is remunerated by Product producers on a commission basis, the level of commissions being determined by the type of product placed with a Product Producer.

Where advice or a service is provided by this firm in connection with a product (policy) arranged by us, we may in addition to any commission receivable from the insurer, charge a fee of up to 30% of the premium including levy.  In determining the fee applicable, factors such as; specialist skills, complexity, value, risk, urgency and amount of commission receivable from the product producer (Insurer) will be taken into account.  We may also charge a fee up to €50 for a mid term alteration to a policy to cover the cost of expenses incurred whilst arranging the adjustment and the time spent on same.  Commissions are deemed earned at inception/renewal of the policy and the firm reserves the right to deduct from any refund in respect of cancellation of policy amount equal to the full commission and fees.  Where we arranged for an external credit finance facility for clients to assist in premium payment, we will receive up to 2.65% in commission.

All commissions earned on Life and Pensions are fully disclosed to the client prior to taking out the insurance as required by the Insurance Act 2000 by way of been given a disclosure notice.  Any additional charges for services will be clearly disclosed to the client in writing prior to the inception of the Insurance.

Any return premiums that are due to a client will be issued within 5 working days on receipt from the Insurer, furthermore, no monies owed by the Client will be deducted from any return premium amounts unless requested by the Client.

It is the policy of the firm to avoid any conflict of interest when providing business services to its clients. However, where an unavoidable conflict may arise we will advise you of this in writing 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.

Biz Broker Ltd t/a Clarke & Conlon Insurance Brokers will, if necessary exercise its legal rights to receive any payments due to it from clients for business services provided by it and, to be reimbursed for any value obtained by the firm on behalf of clients who subsequently default in any payment due to the firm.

Professional Indemnity Insurance

Product producers may withdraw benefits or cover on default of any payments due under any products arranged for your benefit. Details of these provisions will be included in your product terms and conditions.

Biz Broker Ltd t/a Clarke & Conlon Insurance Brokers have a written procedure in place for the effective consideration for the handling of complaints concerning the services offered.  Any Complaint that you may have should be made in writing to the firm.  The complaint will be acknowledged within 5 days.  The complaint will be fully investigated and the outcome of the investigation will be advised in writing to you.  In the event you remain dissatisfied with the firms handling and response to your complaint you are entitled to refer your complaint to the Irish Financial Services Ombudsman.  A copy of our complaints procedure is available on request.

Biz Broker Ltd t/a Clarke & Conlon Insurance Brokers are a members of the Irish Brokers Association and the Investor Compensation Scheme.  The main details of the operation and conditions of the scheme are attached.  Your legal rights against the firm are not affected by this scheme.

Investor Compensation Act 1998

Under 38 (1) of the Investor Compensation Act, 1998, the firm is required to ensure that in its terms of business or in any documentation which may be used by the firm and which is acknowledged in writing by the client, that it informs actual and intending clients of the following information concerning investor compensation:

a)        The Investor Compensation Act, 1998, provides for the establishment of a compensation scheme and the payment in certain circumstances, of compensation to certain clients (known as eligible investors) of authorised investment firms, as defined in the Act:

b)       That the firm is a member of the compensation scheme

c)        That compensation may be payable where money or investment instruments owed or belonging to clients and held, or in this case of investment instruments, administrated or managed by this firm cannot be returned to those clients for the time being and there is no reasonably foreseeable opportunity of the firm being able to do so.

d)       a right to compensation will arise only:

I.      if the client is an eligible investor as defined in the Act,
II.      if it transpires that this firm is not in a position to return client money or investment instruments owned or belonging to the clients of the firm , and
III.      to the extent that the clients loss is recognised for the purposes of the Act.
e) where an entitlement to compensation is established, the compensation payable will be the lesser of:

90% of the amount of the clients loss which is recognised for the purposes of the Investor Compensation Act 1998 or compensation of up to Eur20,000.

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