Terms of Business

Authorized Status

D&D Insurances Ltd is regulated by The Financial Regulator as a Multi-Agency Intermediary Pursuant to The Investment Intermediaries Act 1995 and The Insurance Act 2000 to provide insurance services.

General Principles

We aim at all times to conduct our business with utmost good faith and integrity.

In delivering our service to clients, we are bound by a Code of Conduct, the requirements of which are set out under section 37 of The Investment Intermediaries Act 1995.

We do not have any “tied” relationship with any institution that would compromise our ability to offer independent advice and a wide choice. In the conduct of business and in the choice of an insurer, we aim to provide advice objectively and independently in our client’s best interests.

We organize and control the internal affairs of our business in a responsible manner and ensure our staff are competent, suitable and under adequate day-to-day supervision.
We maintain a system of internal accounting controls so that our clients’ monies are kept separate from our own. We endeavor to satisfy the insurance requirements of our clients and to place their interests before all other considerations.

Consumer Protection Investor Compensation Company Ltd

D&D Insurances Ltd is a fully paid up member of The Investor Compensation Scheme established under The Investor Compensation Act 1998. This Legislation provides for the establishment of a compensation scheme and to the payment, in certain circumstances, of compensation to clients or firms covered by the Act.
A right to compensation will only arise where money or investment instruments held by the firm on a client’s 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 the Act. In the event that a right to compensation has been established, the amount payable is 90% of the client’s loss or €20,000, whichever is the lesser.

Brokers Ireland

In addition to the compensation available under the Act, D&D Insurances Ltd is bonded through its membership of the Brokers Ireland for €250,000 with an inner limit of €100,000 per Client.

Customer Complaints

As part of our service to our clients, we have written procedures in place for the effective consideration and handling of complaints. An acknowledgement must be sent to you the client within fourteen days upon receipt. The outcome of the investigation will be communicated to the person who made the complaint. Any complaint regarding our service to you from any member of staff should be addressed in the first instance to

Barry Donnellan, D&D Insurances Ltd, Block A, Unit 3, Nutgrove Office Park, Rathfarnham, Dublin 14.

If you the client remain dissatisfied with the Firms handling of your complaint, contact may then be made with The Financial Regulator, P.O. Box 559, Dame Street, Dublin 2.

Conflict of Interest

It is our policy to avoid any conflict of interest when providing business services to clients. In the unlikely event of an unavoidable conflict of interest, we will advise you in writing before providing the service to ensure that you are fairly treated.

Handling Client’s Money

D&D Insurances Ltd will only accept payments in cheque, Bankers Order or direct credit transfer in respect of all classes of insurance permitted under Section 25G of The Investment Intermediaries Act 1995. We are not authorised to accept cash or any other negotiable instruments in any circumstances.

The Financial Regulator’s Regulations preclude D&D Insurances Ltd from paying premiums to insurers, which have not been paid to us. Where a Client fails to pay premium in full we must advise the Product Producer involved and the cover will be cancelled. It is therefore critical to the guaranteed continuance of your insurance cover that your premium is paid strictly in accordance with your credit terms.

Receipts

D&D Insurances Ltd issues receipt for each non-negotiable or negotiable instrument or payment received
Pursuant to Section 30 of the Investment Intermediaries Act 1995. These are issued with your protection
In mind and should be stored in a safe place. All premiums paid to D&D Insurances Ltd are
Deemed to be paid to the relevant insurer and the Indemnity is provided under Section 25G
Of The Insurance Act 2000.

D&D Insurances Ltd normally receives commission from a Product Producer, the level of which is determined by
The policy class being underwritten.

In addition to or in lieu of commission the Firm may charge a brokerage fee for its services, which will be determined
By a number of factors including class of business, specialist skills, complexity value, risk urgency and amount of commission receivable. Commission levels are available upon request.

Client Rebates

In the event of policy cancellation when a refund is received from the product provider, on condition that the premium is paid in full, we will refund our client within five working days. If our client wishes, we can credit the client’s account with such an amount.

Regular Reviews

It is in your best interest that you review at least on an annual basis, the products which we have arranged for you. As your circumstances change , your needs will change – you must advise us of those changes and request a review of the relevant policy so that we can ensure that you are provided with up to date advice and products best suited to your needs. Failure to contact us of changes in your circumstances may result you having insufficient Insurance cover.

Governing Law

D&D Insurances Ltd Terms of Business shall be governed by and constructed in all aspects according to the laws of the Republic of Ireland.

Data Protection

D&D Insurances Ltd complies with the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018. The data which you provide to us will be held on a computer database and paper files for the purpose of arranging transactions on your behalf. The data will be processed only in ways compatible with the purposes for which it was given and as outlined in our Data Privacy Notice and Data Protection policy. We would also like to keep you informed of any other Insurance services provided by us or associated companies with which we have a formal business arrangement; which we think may be of interest to you. We would like to contact you by way of letter, email or telephone call. If you would like to receive such marketing information please complete the permission statements contained in the Terms of Business acknowledgment letter attached. We may receive referrals from such firms and may advise them of any transactions arranged for you. You have the right at any time to request a copy of any ‘personal data’ within the meaning of the GDPR) that our office holds about you and to have any inaccuracies in that information corrected. Please contact us at martin@ddinsurances.ie if you have any concerns about your personal data.

Duty of Disclosure to Insurers

The law in the Republic of Ireland deems insurance to be a special class of contract which imposes onerous duties upon prospective insured’s and their agents, who are obliged to act with utmost good faith towards insurers at all times. In addition, you are obliged to disclose to insurers, before the contract is concluded, all material information, which is known to them. The obligation of disclosure is not limited to material information of which they are aware; it extends to those matters of which they ought to be aware in the ordinary course of their business

If there is any breach in your duty to act with utmost good faith or failure to disclose any material information to insurers, the insurers are entitled to void the policy of insurance from inception if the breach induced the making of the contract on the relevant terms. In effect, this means they would be entitled to act as if the policy had never existed and seek recovery of any claims already paid under that policy.

The duties of utmost good faith and disclosure also apply to the claims process and to any situations during the period of the policy in which you are required under the terms of the policy or otherwise, to provide information to insurers including the extension or amendment or renewal of any policy.

In completing a proposal or claim form, or other document relating to an insurance policy, the accuracy of all answers, statement and or information is your responsibility.

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 while awaiting your instruction. In these circumstances, you will be liable for any premiums payable to the relevant insurer for the period of time between the renewal dates and when we receive your instruction.