Getcover & Co. Ltd - Terms of Business
(With effect from 18th December 2013)
When you buy a Policy from Getcover.ie the following Terms of Business apply.
Getcover & Co. Ltd t/a www.getcover.ie (The Company) is regulated by the Central
Bank of Ireland and is an authorised Insurance Intermediary under the European Communities
(Insurance Mediation) Regulations 2005. Registered in Ireland, number 309229. The
Company is subject to the Consumer Protection Code which offers protection to consumers
and that Code can be accessed on www.centralbank.ie. The Company operates from
6 Leopardstown Office Park, Sandyford, Dublin 18. Telephone: +3531 290 8833. Email
The Company operates as a Personal Lines Intermediary arranging the following insurances:
||Basis of Advice provided Provider
||Advice provided on Home insurance products from Liberty Insurance
|Personal Motor Insurance
||Advice provided on motor insurance products from Kennco Underwriting Ltd; Liberty
Insurance; Wrightway Underwriting ltd; Aviva Insurance Ireland; FBD Insurance.
||Advice provided on travel insurance products from this insurer only White-Horse
Duty of Disclosure: In addition to providing all basic information
of your insurance risk, you must ensure that you are complying with your legal duty
of disclosure of all material matters relating to the risk. You must satisfy yourself
as to the accuracy and completeness of the information you have provided to us.
In this respect you must provide all information relating to the risk, whether favourable
or not, which would influence the judgment of a prudent insurer in determining whether
he will take the risk and if so, for what premium and on what terms. If you are
in any doubt as to whether a fact is material or not you should disclose it. Failure
to disclose all such information could result in the policy being cancelled or deemed
null & void; claims may not be paid; you may encounter difficulty in trying to purchase
insurance elsewhere; and, in the case of property insurance, the failure to have
insurance in place could lead to a breach of the terms attaching to any loan secured
on that property. Finally, the non-return of necessary documentation within the
required timeframe can result in the cancellation of your policy and the application
of short–term rates.
Our fees: In an effort to comply with the Consumer Protection Code’s
“Seek to Inform” policy, we lay out our company’s procedure regarding remuneration.
We are, in most cases, remunerated by insurance underwriters and product producers
on a commission basis, the level of which is determined by the class of business
concerned and details of which are available on request. However, The Company,
also reserves the right in the following circumstances to charge brokerage fees
which are non-refundable as follows:
||New Business Fees
||Mid Term Alteration Fees
||Credit & Visa Debit Card Fees
|Personal Motor Insurance
Premium Financing /Instalments: Where a customer opts to pay for
Household insurance by instalments, the premium is subject to a service charge of
6.67% ( or 19.66% APR). Where a customer opts to pay for Motor insurance, by instalments
the premium is financed via Close Premium Finance Ireland (CPF) and is subject to
a charge of 8.5% (or 27.85% APR). The Company receives commission from CPF, when
customers arrange premium finance on motor insurance at a rate of 1.7% of premium.
The Company receives commission from Liberty Insurance, when customers pay Household
insurance by instalments at a rate of 1% of premium.
Premium Handling: The Company accepts client premiums for lodgement
to its Client Premium Account only in circumstances permitted under section 25(G)
of the Investment Intermediaries Act 1995. The Company is not authorised to accept
payments made in any other circumstances.
The Company is a member of the Investor Compensation Scheme, in line with section
38(1) of the Investment Compensation Act 1998. This provides that compensation will
be payable where money or investment owed or belonging to clients and held (or in
the case of investment instruments) administered or managed by the Company cannot
be returned to those clients for the time being and there is likelihood that the
Company will be unable to do so. Where an entitlement of compensation is established,
the compensation payable will be the lesser of (i) 90% of the amount of the client’s
loss which is recognised for the purposes of the investor Compensation Act 1998
or (ii) compensation up to €20,000.
The Company will issue a receipt for each payment received. This receipt is issued
pursuant to Section 30 of the Investment Intermediaries Act 1995. Such receipts
are issued for your protection and should be retained in a safe place by you.
All insurances are effected pending receipt of the premium from the Insured. The
Company reserves the right notwithstanding delivery of policy, certificate or receipt
to the Insured to cancel the Policy, obtain a refund from Insurers and apply same
to reduce the amount due by the Insured.
Conflicts of interest / Complaints: It is the policy of the firm
to avoid any conflict of interest when providing business services to its clients.
However, should an unavoidable conflict arise, we will advise you of this prior
to providing any business service. If you have not been advised of any conflict
you are entitled to assume that none arises.
The Company has in place written procedures for the handling of complaints. These
procedures ensure that all complaints are recorded and acknowledged within 5 business
days. All complaints will be investigated and the complainant updated, in writing,
at intervals not greater than 20 business days. Where a complaint is not resolved
within 40 business days the complainant will be advised of the anticipated time
frame within which it is hoped to resolve the complaint and of the complainant’s
right to refer the matter to the Financial Services Ombudsman at www.financialombudsman.ie.
The Complainant will be advised, in writing, within 5 business days of the completion
of the investigation of the complaint and the outcome of the investigation and where
applicable the terms of any offer or settlement. In the first incidence, all complaints
should be referred to The Operations Manager, Getcover & Company Ltd, Getcover House,
Leopardstown Office Park, Sandyford, Dublin 18.
The Company will, if necessary, exercise its legal rights to receive any payments
due to it from clients for business services provided by it and, to be reimbursed
for any value obtained by the firm for clients arising from payments by the firm
on behalf of clients who subsequently default in any payment due to the firm. Product
producers may withdraw benefits or cover on default of any payments due under any
products arranged for your benefit. Details of these provisions will be included
in your product terms and conditions. Your individual policy document will contain
details of default remedies and actions of the particular insurance undertaking
in the event of your non-payment. On receiving your policy document you should read
the terms and conditions of your policy in detail.
Premium Rebates: We will refund any rebate due to you within 5 business
days of receiving the appropriate instruction. If you have a loan account with
Close Premium Finance Ireland, the rebate from the product provider will be added
to your loan account and then the outstanding balance / refund will be determined.
Default and Due Payments: Your insurer may withdraw cover on default
of any payments due under any products arranged for your benefit. Details of these
provisions will be included in your policy/product terms and conditions. We will
take such steps as may be necessary to recover any monies due to us including the
instigation of legal proceedings, the appointment of a receiver and all other rights
available to us.
Cooling-Off Period: You have the right to withdraw from a general
insurance policy, provided you have not made a claim, within 14 days of the latest
of: the starting date of your policy, or the day on which you receive the contractual
terms and conditions of your policy. In order for you to exercise this right in
relation to a motor vehicle insurance policy we must receive the relevant certificate
of insurance and insurance disc. You may be charged a pro-rata premium for the period
you are on cover.
Choice of Law: We can both choose the law which will apply to the
contract. Unless we agree otherwise with you Irish law will apply to Republic of
Language: All communications in respect of all products will be
Data Protection: The Company operates in line with the Data Protection
Acts 1988 and 2003. If you have any queries with regards to Data Protection you
may contact us or alternatively the Office of the Data Protection Commissioner,
Canal House, Station Road, Portarlington, Co. Laois, Ireland, Tel +353 57 868 4800.
We will treat all information we hold about you as private and confidential even
when you are no longer a customer. We will not keep any information we hold about
you for any longer than is necessary. Your personal information may be shared with
any of the Insurance companies offering quotation through the Company for the policy
you hold with us. For some purposes information may be shared with third parties
inside and outside EEA. We record telephone conversations for verification and training
purposes. We may also use your information for marketing purposes but only with
your specific consent. You have the right of access to the personal data we hold
about you and the right to correct any inaccuracies in your information.
Variation: The Company reserves the right to amend these Terms of
Business at any time. However, such amendments will not affect any rights or obligations
already accrued by you or The Company. Any such revision to these Terms of Business
will be notified to you by publication on our Website and in writing when renewing
your policy as part of your renewal notice.