Remuneration and Fees
Cavanagh Hooper Dolan Insurances Ltd may be remunerated by a professional fee for the initial work activity and time spent in seeking the best terms, advice, product and product producer for your specific needs. An administration fee is also charged for the activity involved in the renewal of the policy and also for any alterations that take place during and at termination of the policy. We are usually remunerated by commission received from the product producers for the work involved in placing an order and finalising the product with them on your behalf. The range of commission payable varies depending on the class of business being placed. Some product producers do not pay any commission.
A Compliance charge may apply and is detailed in the overall amount due.
Our fees / charges will be communicated to you in advance of new business, renewal and mid-term alteration stage and will be clearly set out in our documentation issued to you.
Services can be provided solely on a fee basis if the client so wishes, so that no commission will be taken from the premium charged by the product producer.
A 5% Government Levy is charged on all Insurance Policies.
Scale of Fees
Class of Business Initial Fee Renewal Fee Policy Alterations / Cancellation Fee
Private Motor &
Light Commercial Vehicles Up to a maximum of €500.00 Up to a maximum of €500.00 Up to a maximum of €500.00
Household, Travel, Caravan and all other Personal Lines Insurance Up to a maximum of €500.00 Up to a maximum of €500.00 Up to a maximum of €500.00
Marine Insurance Up to a Maximum of 100%of the premium Up to a Maximum of 100% of the premium Up to a Maximum of €5,000
A fee of up to € 75.00 will be charged for the provision of duplicate documentation.
Cavanagh Hooper Dolan Insurances Ltd enjoys volume and profitability arrangements with some product producers that enable the firm to offer preferential rates for some classes of business.
We are remunerated by commission only.
We may recommend professional Loss Assessors to handle Property Insurance claims and, if such a Loss Assessor is appointed by the client, the client is responsible for the payment of the Loss Assessor’s fees. We may receive a referral fee when the recommended Loss Assessor handles the claim.
Direct Debit Administration Fee
An administration fee of €10 applies for the set-up of scheduled direct debit payments.
Premium Finance Charges
Where premiums are financed by Insurers, Close Premium Finance, Premium Credit Finance or other finance lenders, details of interest rate and all charges will be separately provided in the credit agreement at inception. We may receive a commission from finance companies in respect of credit agreements up to 4% of the annual premium. Should there be a default of a direct debit payment, we will charge a fee for recovery of the defaulted payment of up to €25. In the event that the loan is to be reinstated following a default, a charge of up to €40 will be applied. As with all credit agreements, terms and conditions apply and we strongly advise that you read all documentation relating to such agreements before entering into same.
Credit Card Charges
Where payment is made by credit card we incur a charge from the credit card company and we may pass on to you a charge of up to 3% of the amount being paid. Full details will be provided at the time of your transaction. Payments by debit card do not incur any additional charge.
Should a particular project or circumstance require us to charge any additional fees, they will be specifically advised in advance. The calculation of such charges will be based on various factors such as, though not limited to the complexity of matters under consideration, any commission payable (including none) by Insurers, time spent, qualification levels and numbers of personnel involved.
Please note that some insurance companies may collect our administration charge on our behalf for direct debit policies.
We reserve the right to amend these fees should the complexity of the product/service require a higher fee or in the event that the product/service provided is not remunerated by a product producer in the usual way. In such circumstances we will confirm and agree the fee with you at the time of providing the service.
Details of all the remuneration, fees, commissions and arrangements listed above are available upon request.
Date: March 2015