- Beauty Salons & Clinics
- Beauty Salons & Clinics
Our Terms of Business: B.M.I.B. Ltd is regulated by the Financial Regulator as a multi-agency intermediary and a copy of the Firm’s Statement of Authorised Status from the Financial Regulator is available on request. We are required to issue all our clients in advance of transacting business the terms under which we transact business with you. Our Status B.M.I.B. Ltd is an independent Insurance Broker who advises you and places, on your behalf, with Product Producers (Insurers) from whom we hold appointments, the insurance product or service that is most suited to your needs. A full list of the Suppliers is available on request.
1. General Insurance Broking
2. Risk Management
3. Claims Handling
Earnings Disclosure B.M.I.B. Ltd’s income is generated from a combination of commissions paid to us by our Product Suppliers (Insurers) and fees paid by you for our professional services.
We operate a policy of full disclosure as required by the Financial Regulator. In the case of Private and Commercial Motor and Household Insurance we have a maximum of €100 administration charge and for all other insurances we charge a service / administration fee of up to 45%.
We reserve the right to amend these fees should the complexity of the product and time spent sourcing markets require us to charge a higher fee. Should this occasion arise we will confirm and agree this fee with you in advance of the provision of service. Please note that a fee of €20 will be charged for all duplicate documentation.
Consequences of Defaulting Under Irish Financial Services Regulatory Authority legislation strict rules apply to the payment of premiums to Insurance Companies. B.M.I.B. Ltd will not be pay premiums to the Insurers which have not been received from clients with the result that cancellation instructions will be given to Insurers in absence of payment of the premium if full when due. Receipts B.M.I.B. Ltd in all cases issues receipts for each non-negotiable of negotiable instrument or payment received.
This is required pursuant to Section 30 of the Investment Intermediaries Act 1995. These are issued with your protection in mind and should be stored safely. Conflicts of Interest It is the policy of the firm to avoid any conflict of interest when providing business services to its clients. However, where an unavoidable conflict may arise we will advise you of this in writing before providing any business service. If you have not been advised of any such conflict you may assume that none arises.
Compensation Scheme B.M.I.B. Ltd is a 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 will only arise where money or investment instruction held by these firms on your behalf cannot be returned either for the time being or in the foreseeable future and where the client falls within the definition of eligible investor as contained in that Act.
In the event that a right to compensation is established, the amount payable is lesser of 90 percent of your loss which is recognised as being eligible for compensation or € 20,000. As a member of the Irish Brokers Association, B.M.I.B. Ltd is bonded for € 20,000 with an inner limit of €65,000 per investor in addition to the national compensation scheme. In addition B.M.I.B. holds professional indemnity insurance as required by the Financial Regulator. Complaints against B.M.I.B Ltd We will acknowledge each complaint received in writing within 5 business days of the complaint being received. We will provide the complainant with the name of the Complaints Officer as the main point of contact in respect of their complaint until their complaint is resolved or cannot be processed any further.
We will provide the complainant with a regular written update on the progress of the investigation of the complaint at intervals of not greater than 20 business days. We will attempt to investigate and resolve the complaint within 40 business days of having received the complaint. When the 40 days has elapsed, if the complaint is not resolved, we will inform the complainant of the anticipated timeframe within which we hope to resolve the complaint. At this point we will inform the complainant of their right to refer the matter to the Financial Services Ombudsman’s Bureau Where we resolve the complaint, we will advise the complainant in writing, within 5 business days of the completion of the investigation of the complaint, the outcome of the investigation and where applicable explain the terms of any offer or settlement being made.
We will also inform the complainant of their right to refer the matter to the Financial Services Ombudsman’s Bureau or the Pensions Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2. The above represents the Terms by which we do business with you and by transaction business with us there are deemed acceptable by you.
Signed ___________________________ On behalf of Brian Mullins Signed _______________________ x Date ________________________ x
B.M.I.B. Ltd t/a Brian Mullins Insurance Broker is a multi-agency intermediary regulated by the Financial Regulator. Directors: B. Mullins, S. Mullins. Registration No: 337473 registered in Ireland. Registered Office: 27 Castle Street, Sligo, Ireland.
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