The background
Pursuant to provision 4.58A of the Consumer Protection Code, all intermediaries, must make available in their public offices, or on their website if they have one, a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the intermediary which it has agreed with its product Insurers.
What is commission?
For the purpose of this document, commission is the payment earned by the intermediary for work undertaken on behalf of both the provider and the consumer. The amount of commission is generally directly related to the quantity or value of the products sold.
Our Earnings
We receive remuneration in connection with your policy(ies) which will include a commission payment from your Insurer and is calculated as a percentage of the total annual premium excluding relevant insurance taxes and levies where applicable.
The commission we may earn from insurers when clients place business using our services are as follows.
Product |
Insurer |
Commission |
| Professional Liability Insurance Package (Health Professionals Scheme) | Lloyds Insurance Company S.A. | 34% |
| Personal Accident (Optional Extra) This section only applies if the Insured specifically named on the Schedule is an individual and if a Limit of Liability for Personal Accident (Section 4) is stated on the Schedule. |
Lloyds Insurance Company S.A. | 34% |
| Commercial Legal Protection | ARAG Insurance Company Limited – a Branch of ARAG Allgemeine Versicherungs-AG. | 35% |
We also charge administration fees for any policy(ies) we arrange on your behalf. Where a fee is charged, this will be identified on all applicable quotations, new business, mid-term adjustments and renewal documentation we provide you.
A list of the fees which we charge can be found below:
Consumer Customers
- New Business €35 maximum upper limit,
- Renewal €35 maximum upper limit,
- Mid Term Adjustments €0,
- Cancellation €0
Commercial Customers
- New Business €40 maximum upper limit,
- Renewal €40 maximum upper limit,
- Mid Term Adjustments €0,
- Cancellation €0
Our fees are non-refundable.
If you cancel your policy you will be charged for relevant periods of insurance cover.
When amending your cover (e.g. increasing limits or including alternative or supplementary therapies) there may be an additional insurance premium owed if this change materially alters the risk rating of your insurance cover. If this applies, we will let you know the costs prior to adjusting your policy.
You can ask us at any time for information about our fees and charges. Full information can be found in our Terms of Business which can be found here.