These terms of business set out the the general terms under which our firm will provide insurance and investment business services to you and the respective duties and responsibilities of both the firm and you in relation to such services. Please ensure to read these terms thoroughly and if you have any queries please contact us and we'll be happy to clarify.
Sean P. Matthews Insurance Ltd., trading as Sean P. Matthews Insurances ('the firm') (Ref. No. C3375) is authorised under Section 10 of the Investment Intermediaries Act, 1995, (as amended) by the Central Bank of Ireland as a Multi-Agency Intermediary, a Mortgage Intermediary and a Deposit Broker.
Our Services
Sean P. Matthews Insurance Ltd., trading as Sean P. Matthews Insurances is an Insurance Broker and is a member of the Professional Insurance Brokers Association (PIBA). Insurance Brokers must be in a position to place insurance with at least five insurers of the relevant form (life/non-life) and therefore generally give consumers a greater choice than agents and tied agents (except when the latter categories act as Authorised Advisors or Authorised Cash Handlers). we hold written appointments from the product producers set out in Appendix 1 to this document.
Life & Pensions
Life Assurance companies provide various products including the following:
-
Life Cover (Term Assurance, Whole of Life)
-
Mortage Protection
-
Serious / Critical Illness Cover
-
Income Protection
-
Retirement Planning (Pensions)
-
Savings Plans
-
Inheritance tax Planning
-
Keyman Policies
-
Lump sum Investments
-
Investment Plans
Depending on our individual circumstances, we may provide you with advice in relation to the nature of these products and which product may be suitable for your needs. You may, however, have particular areas of interest and, in this case, we will be happy to give you more detailed advice in these areas. We give you a choice of different life and pension products from the insurers listed in Appendix 1 and, on your instruction, we can receive and transmit orders for such products on your behalf to these insurers. With your agreement, we may review the policies you take out on a sporadic basis to ensure you are kept informed as to their benefit and to check whether they are still suitable for your needs. We will also provide assistance to you for any queries you may have in relation to the policies or in the event of a claim during the life of the policies.
Non-Life
We provide services in relation to various non-life insurance products, including:
Household
Farm Insurance
Motor (Private, Commercial)
Travel Insurance
Commercial Combined
Personal Accident
Public Liability
Products Liability
Employers Liability
Property Owners Liability
Professional Indemnity
Directors & Officers Liability
Health Insurance
Engineering Insurance
Marine Insurance
Contractors All Risks Insurance
Goods in Transit
Self Build
Shops/Offices Insurance
Sports & Social Insurance
Legal Expenses
Mortgage Broker
Sean P Matthews Insurances Ltd, T/a Sean P Matthews Insurances, is a registered Mortgage broker with agencies as listed in Appendix 1.
Depending on your instruction, we can give advice in relation to the products of insurers listed in Appendix 1 and receive and transmit orders on your behalf to these insurers. We will also offer assistance to you in relation to processing claims on policies taken out with us and in seeking renewal terms on your cover.
-
Important Notice: To ensure continuity of cover, where you have an existing policy which is due to expire and we have been unable to contact you, we may put continuing cover in force whilst awaiting your instruction. You will be liable for any premiums payable to the relevant insurer for the period of time between renewal and when we receive your instruction. You have the right not to avail of this service.
DEPOSIT BROKER
Sean P Matthews Insurances Ltd ., t/a Sean P Matthews Insurances is a registered
Deposit Broker for Permanent TSB.
COMMISSION AND CHARGES
Sean P Matthews Insurances Ltd, T/a Sean P Matthews Insurances is remunerated by commission and other payments from the completion of business with the product producers listed in Appendix 1. A placement fee of €40 for private motor insurance and €20 for household insurance applies. For all other types of insurance, fees are applicable as notified and agreed in advance. A number of product producers pay no commission and therefore we have the right to amend these fees depending on the product. A maximum fee of 20% of the related premium for these classes of business applies. For provision of advice without placement of business, fees will be notified and agreed in advance. This also applies to life, pensions, mortgage & investment advice and/or to placement of business.
CONFLICTS AND INTERESTS
It is the policy of our firm to avoid conflicts of interesting providing you with insurance and investments business services. If this is not possible, we will notify you as soon as practicable after we become aware of the conflict of interest and you may rest assured that you will be fairly treated where such a conflict is unavoidable.
DEFAULT ON PAYMENTS BY CLIENTS
Our firm will exercise its legal rights to receive payments due to it from clients for investment business services provided. In particular, without limitation of the generality of the foregoing, the firm will seek reimbursement for all payments made to insurers on behalf of clients where the firm has acted in good faith in renewing a policy of insurance for the client.
Insurers and other product procedures may withdraw benefits or cover in the event of default on payments due under policies of insurance or other products arranged for you. We would refer you to policy documents or product terms for the details of such provisions.
COMPLAINTS
We ask that you make any complaint against our firm relating to investment business services provided by us in writing. We will acknowledge your complaint within 14 days and we will fully investigate it. On completion of our investigation, we will provide you with a written report on the outcome. In the event that you are still dissatisfied with our handling of or response to, your complaint, you are entitled to refer the matter to the Central Bank of Ireland. A full copy of our complaints procedure is available on request.
Compensation Scheme
We are members of the Investor Compensation Scheme operated by the Investor Compensation Company Ltd - see Appendix 2 for details.
APPENDIX 1.
LIST OF PRODUCT PRODUCERS
-
Life & Pensions
Aviva Life & Pensions
Canada Life
Friends First
Irish Life
Caledonian
New Ireland
Standard Life
Wealth Options
Zurich Life
-
Health Insurance
Aviva Health
-
Non-Life
AIC (Corporate) Ltd
Aiken & Company Ltd
Allianz Insurance
Aon Brokers Insurance Markets
Arachas
Aviva Insurance
Axa Insurance
Benchmark Underwriting
Corporate Underwriting
DAS Legal Expenses
Finsure
First Ireland
Frost Insurance
HSB Engineering Insurance Ltd
Jardine Lloyd Thompson
Kennco Undewriting
Kidd Insurances
Optis Insurance Ltd
Quinn Insurance
RSA
Sertus Underwriting Ltd
SUS (Specialist Underwriting Services)
Travelers Insurance
Willis Insurance Brokers
Wrightway Underwriting
Zurich Insurance
McDonald Dwyer Reddy t/a Shield Brokers
-
Mortages
KBC Bank Ireland plc.,
Irish Life & Permanent plc.,
PIBA Network Services Ltd
-
Mortgage Repayment Protection Cover
Assurant Solutions
APPENDIX 2.
INVESTOR COMPENSATION SCHEME
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 authorized investment firms, as defined in the Act.
The Investor Compensation Company Ltd. (ICCL) was established under the 1998 act to operate such a compensation and our firm is a member of this scheme.
(Reference No. 112097)
Compensation may be payable where money or investment instruments owed or belonging to clients and held, administered or managed by the firm cannot be returned to those clients for the time being and there is no reasonable foreseeable opportunity for the firm being able to do so.
A right to compensation will arise only:
-
if the client is an eligible investor as defined in the Act; and
-
if it transpires that the firm is not in the position to return client money or investment instruments owned or owned or belonging to the clients of the firm; and
-
to the extent that the client's loss is recognized for the purposes of the Act.
Where an entitlement to compensation is established, the compensation payable will be the lesser of:
-
90% of the amount of the client's loss which is recognized for the purposes of the Investor Compensation Act, 1998; or
-
compensation of up to €20, 000
For further information contact the Investor Compensation Company Ltd.
at 01 434 4000
Sean P. Matthews Insurance Ltd., trading as Sean P. Matthews Insurances is regulated by the Financial Regulator as a Multi-Agency Investment Product Intermediary and as a Mortgage Intermediary. Sean P. Matthews Insurances are leading Investment mortgage lenders and Financial Advisors in Ireland and offer life insurances, home insurances, business insurances and can also advise you on the best pension plans for your retirement. Life Insurance, Home Insurance, General Insurance, Retirement Pensions Plans, Investment and Saving Plans and financial advice from Sean P. Matthews Insurances can help you prepare for any challenge in life.
