Terms of Business

 

Our Company and Status

Stuart Insurances (South East) Ltd of Main Street, Castlebridge, Co. Wexford, Tel 053 9159922 Fax 053 9159923 is a member of the Stuart group of companies trading in the Republic of Ireland as a general insurance intermediary.  Stuart Insurances (South East) Ltd and its sister companies are regulated by The Central Bank of Ireland and are subject to the Consumer Protection Code which offers protection to consumers.  The Consumer Protection Code can be found on the Central Bank website (www.centralbank.ie)

Description of Services 

We offer a wide range of services including risk assessment, risk management, insurance placements, and claims assistance and in this capacity provide broad-based advice in relation to all classes of non-life insurances.  We do not have any tied relationships with insurance companies which would affect our ability to offer advice on a fair analysis basis. We are a member of Brokers Ireland (BI), Broker Line Direct (BLD) and the Brokers Federation of Ireland (BFI).

General Statement of Charges 

The company is remunerated by commission on all non-life insurances from the Insurers with whom we place business.  The amount of commission received is available upon request.  We may in certain circumstances apply a brokerage charge as follows:

Personal Insurance Commercial Insurance
New Business and Renewal Standard Charge €50 up to maximum of €250. Up to a maximum of 20% of the premium.
Alteration Up to a maximum of €50. Up to a maximum of 20% of the premium or €50 whichever is the higher.
Duplication of Documents €20. €20.
Facilitating Premium Finance Arrangements Up to 4% of the Premium Finance Agreement. Up to 4% of the Premium Finance Agreement.
Administration of returned cheques/direct debit defaults €20. €20.

In all cases, where a charge is being applied, you will be notified. Personal Lines cases are Private Car/Household/Private Travel/Musical Instruments/Personal Accident. Where agreed, a premium rebate will be used to offset other premiums outstanding at the time the rebate becomes due. A fee may be charged where insurance advice is provided and no insurer premium applies.

Conflicts of Interest

In all circumstances we will endeavour to avoid conflicts of interest with clients.  In the event that such a situation does arise, we will explain the position fully and will ensure that at all times, whilst seeking resolution, we treat our customers fairly.

From time to time we may receive from Insurers/Product Producers commission related to certain levels of business placed with them.  Agreements to this effect are in place with the following: Aviva Insurance Europe SE, RSA Insurance Ireland Ltd, Travelers Insurance Company Ltd., and AXA Insurance Ltd (via BLD).  Any business arranged with these Insurers/Providers on your behalf is placed with them as they are at the time of placement the most suitable to meet your requirements taking all relevant information, demands and needs into account.

Default by Our Client 

Where a client defaults on the premium due, we will seek to reconcile the matter directly with the client by instruction to forward payment to avoid cancellation.  If the matter cannot be resolved within a given time frame, the product producer will be notified of the default and instructed to cancel the policy.  Legal action against such default may be initiated by the product producer in order to recoup any premium that may remain outstanding.  It is of utmost importance to the continuance of your insurance cover that the premium is paid in full and in line with credit terms, if any.

Complaints 

The Stuart Group of companies have in place a written procedure for the effective handling of complaints received.  This procedure ensures that complaints will be acknowledged in writing within 5 business days.  All complaints will be fully investigated and the findings will be communicated to the complainant at the earliest opportunity. All complaint investigations will be overseen by the Compliance Director.  Complainants who are dissatisfied with the outcome of our findings may refer the matter to the Financial Services Ombudsman Bureau at 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.

Data Protection

We collect and record personal information for the purpose of providing insurance products appropriate to your cover needs.  This information will be passed to insurance companies/providers who require it to offer terms.  The data will be processed only in ways compatible with the purposes for which it was given and as outlined in our Data Protection Policy. You have the right at any time to request a copy of any ‘personal data’, our office holds about you, within the meaning of the General Data Protection Regulations. Full details of your rights in respect of your personal data are detailed in the GDPR privacy notice on our website.

Call Recordings

Telephone calls to, and calls made by Stuart Insurances (South East) Ltd are recorded for training and verification purposes.

Insurer Security

We do not and cannot guarantee the financial security of any Insurer.  This is a matter for the Regulator in the Insurer’s Home country.  If you have any concerns about the security offered, please contact us immediately.  A current list of all Insurers with whom we hold agency appointments is available on request.

Investor Compensation Company Ltd  

This company is a member of the Investor Compensation Scheme established under the Investment Compensation Act 1998. The 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, clients should be aware that a right to compensation will only arise where money or investment instruments held by Stuart Insurances (South East) Ltd, on clients’ 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, and to the extent that the client’s loss is recognised for the purposes of the 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.  Further information on the scheme is available from the Central Bank of Ireland.