Terms

McLaughlin & Greaney Insurance Limited t/a FUTURE (referred to FUTURE on this page) of Number 5, Merchants Road, Galway specialise in the provision of General Services to consumers.

AUTHORISED STATUS
McLaughlin & Greaney Insurances Limited t/a FUTURE is regulated by the Central Bank of Ireland as a Multi-Agency
Intermediary under the Investment Intermediaries Act, 1995, as amended and as an insurance intermediary registered under the European Communities (Insurance Mediation) Regulations, 2005. The Central Bank of Ireland holds registers of regulated firms. You may contact the Central Bank of Ireland on 01 2246000 or alternatively visit their website on www.centralbank.ie to verify our credentials

FUTURE is a member of the Insurance Brokers Association.

REGULATORY STATUS
McLaughlin & Greaney Insurances Limited t/a FUTURE is regulated by the Central Bank of Ireland. Our regulator number is 1592.

SERVICES
FUTURE provides a full range of insurance advice to the corporate and personal sectors including the placing of
insurance contracts and related claims handling and risk management services.

REMUNERATION AND FEES
FUTURE is usually remunerated by commission received from product producers for the work involved in placing an order and finalising the product with them on your behalf (some product producers do not pay commission). An administration fee may also be charged for the activity involved in initial work and time spent seeking the best terms as well as for activity involved in the renewal of the policy or any alterations that take place during and at termination of a policy. The fee will never exceed twenty five percent of the premium.

As a Broker we provide advisory services based on a fair analysis of the market.

We charge administration fees for the following new business and renewal services

Class of Risk

  • Household
  • Private/ Commercial Motor
  • Commercial Business
  • Employers/ Public Liability
  • Midterm Switches/Alterations
  • Return Premiums

Maximum Fee
25% of Premium

CODE OF CONDUCT
FUTURE is subject to the Code of Conduct issued under Section 37 of the Investment Intermediaries Act 1995.

HANDLING CLIENTS MONEY
FUTURE accepts payments by cash, cheque and major credit/debit cards in respect of all classes of insurance contracts in circumstances set out under Section 25G of the Investments Intermediaries Act 1995. We will issue a receipt for all payments received in accordance with Section 30 of the Investment Intermediaries Act 1995. These receipts are issued for our clients protection and should be held safely by the client.

CREDIT TERMS
FUTURE is required to operate a policy of strict credit control and premiums must therefore be paid in full on or before the renewal/inception/alteration date of the cover. In order to protect the interests of their clients FUTURE are prevented by regulation from paying any premium to Insurers, which have not been paid to FUTURE.

FUTURE can arrange suitable Premium Finance with an approved institution, subject to terms and conditions. We expressly reserve the right to offset credits against outstanding balances due. Any bank fees charged on unpaid cheques will be charged to the client and are payable in full will all other outstanding balances. No agency transfer may be effected until the account is cleared in full

COMPLAINTS PROCEDURE
FUTURE has in place a written procedure for the handling of complaints. This procedure ensures that all complaints are recorded and acknowledged within 14 business days. All complaints are fully investigated and the complainant updated at intervals of not greater than 20 business days. We will attempt to investigate and resolve a compliant within 40 business days.
All complaints should be directed in writing to Mr. Michael McLaughlin, Compliance Officer, McLaughlin & Greaney
Insurances Limited t/a FUTURE, Number 5, Merchants Road, Galway. In the event that a client remains dissatisfied with the handling of and/or response to a complaint they may refer the matter to The Financial Services Ombudsman

CONSUMER PROTECTION
FUTURE is a member of the Investor Compensation Scheme established under the Investor 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 you should also be aware that a right to compensation would only arise where money or investment instruments held by this company on your 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 is established, the amount payable is the lesser of 90% of the clients loss, which is recognised as being eligible for compensation or €20,000.

ACTIONS IN EVENT OF DEFAULT
FUTURE will, if necessary, exercise its legal rights to receive any payments due to it from clients in the event that clients default in relation to any amount due to the firm.

A product provider may withdraw benefits or cover on default of any payments due under any products arranged for your behalf—details of these provisions will be included in your products terms and conditions.

DOCUMENTATION
FUTURE will issue all relevant insurers documents to its clients. These should be read to ensure that they are in accordance with the insurance requirements. It is also of vital importance that these documents be retained in a safe place as these documents are the basis of the contract between the insured and the insurer.

FUTURE will issue a summary of covers for the benefit of their clients. These summaries are not intended to be a definitive interpretation of the policy cover, terms or conditions.

MONEY LAUNDERING
FUTURE are required to comply with the legislation in respect of Money Laundering and are therefore required to seek information from all new clients to comply with the provisions of the legislation.

LICENCED AND APPROVED INSURERS
FUTURE will only transact and recommend Insurers who are licensed by the Department of Trade , Enterprise and
Employment or EU insurers who are also approved under the EU directives on the freedom of services and which must comply with the solvency and security legislation of their local member state.

In addition to the legislation which controls the solvency and security we rely on our own market research in addition to the support from Standard and Poor which independently rate insurers on their stability and claims payments.

COMMITMENT TO CLIENTS BEST INTERESTS
Insurance contracts are tailored to meet the specific requirements of each client and while similar products may be provided by direct insurers, these may not always be on the same terms and conditions which offer the best protection for the clients.

FUTURE holds letters of appointment from leading product producers who provide cover in Ireland and at Lloyds. It is the policy and practice of FUTURE to recommend the best covers to clients, irrespective of cost or the product producer, based on the best cover, service, stability and consistency of the market involved.

CONFLICTS OF INTEREST POLICY
It is the policy of FUTURE to avoid any conflict of interest when providing services. However, should an unavoidable conflict arise, we will advise you of this prior to providing advice or arranging a transaction on your behalf.

DATA PROTECTION
McLaughlin & Greaney Insurances Limited t/a FUTURE is a Data Controller as defined in the Data Protection Act 1988 and 2003.

We collect your personal details in order to provide the highest standard of service to you. We take great care with the information provided; taking steps to keep it secure and to ensure it is only used for legitimate purposes. To fulfil these obligations we may share information with other affiliated professionals. The information and other data provided to our office may be used to advise you of products and services we may offer from time to time.

You have the right, at any time, to request a copy of any ‘personal data’ within the meaning of the Data Protection Act 1988 (as amended or re-enacted form time to time) that our office holds about you and to have any inaccuracies in that information corrected.

The terms and conditions of McLaughlin & Greaney Insurances Limited t/a FUTURE