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TERMS OF BUSINESS
Date issued:__________
This document sets out the terms under which the services of Moloney Mortgages Pensions & Investments Limited ("MMPI", "the company", "we", "us", "our") will be provided to consumers ("you") for business which is subject to the Central Bank of Ireland's Consumer Protection Code.
About MMPI Bryan Moloney established the firm in 1993 as an independent advisory service to companies and private clients. Its primary aim is to provide valued solutions in the areas of corporate and personal pensions and investments, wealth management, insurance and residential and commercial mortgages. We offer access to deposits, investments and life and non-life insurance services on a fair analysis basis. We are not tied to any one financial institution for any product or service and are free to exercise impartial judgement on all products and services in the marketplace. In addition to maintaining business arrangements with Irish financial institutions, we have also Agreements with several leading international banks and insurance underwriters in London and Europe. If you have a private medical insurance policy we will review it against alternatives provided by Aviva Health Insurance Ireland Limited (Aviva) and make a recommendation either to stay with your current provider or switch to Aviva. If you do not have a private medical insurance policy we will only provide you with details on policies available from Aviva.
Company contact details
Authorisations & Affiliations
Commitment to Customer Care Remuneration for non-life insurance including commercial, motor and home insurance, is normally payable directly to us from product and service providers. We will provide you with details of amounts payable to us by product producers and service providers directly attributable to your policy on request. We may enter into arrangements with product producers and service providers whereby additional remuneration, based on overall levels of business introduced by us may be payable. For 'non-life' insurance a service charge is also normally payable by you. Where applicable, this may be up to 15% of the total premium per policy with a minimum charge of €25.00 per transaction. Higher fees may be charged in exceptional circumstances depending on the complexity and urgency of the case. In all cases where a fee is charged the method of calculating the charge will be agreed with you in advance and the actual amount charged stated clearly on each individual invoice. A charge is not levied, in the normal course, for the handling of a claim where cover has been arranged by MMPI. If we receive recurring remuneration this will be in respect of the provision to you of product information we believe to be relevant to your circumstances and providing responses to any queries you may have on the contract you have taken out and where requested by you. It will also contribute to our costs arising in supporting you with claims including maturity claims. Our standard consultation fees are currently €300 (+VAT where applicable) per hour, reviewed annually. Fees may be negotiated for on-going contracts. We may offset fees against remuneration received by us from product and service providers. If we intend to do so we will advise you in advance. If we do and you subsequently cancel, encash in full or in part, or cease to pay in full or in part any amounts due under the policy/contract and in consequence we are obliged to refund the remuneration paid to us by a product or service provider, we reserve the right to charge you a fee to reimburse us for the amount of remuneration refunded. Premiums paid by credit/debit card or other electronic means may be subject to a charge of up to 2% on each transaction made up of the fee levied by the service provider, if any, together with any additional handling charge which may be applied by us.
Conflicts of Interest Where conflicts of interests arise and cannot be reasonably avoided we will disclose the general nature and/or source of the conflict of interest to you. We will seek your agreement in writing before we proceed and ensure that the conflict does not result in damage to your interests.
Complaints & Disputes Any written complaint that you may have should be addressed to the Compliance Officer, Moloney Mortgages Pensions & Investments Limited, 101 Morehampton Road, Donnybrook Village, Dublin 4. Where a complaint cannot be resolved within 5 business days we will issue you with an acknowledgement of its receipt by us. All complaints will be fully investigated and the outcome of the investigation will be communicated to you within 5 days of completion of the investigation. If you are dissatisfied with our handling of the complaint or our response to it you may refer the issue to the Financial Services Ombudsman or the Pensions Ombudsman as appropriate who may be contacted as follows:
Remedies on Default of Company As a member of the Irish Brokers Association (IBA), MMPI is also a member of the IBA Compensation Fund Ltd. Subject to the rules of the scheme the liabilities of its member firms up to a maximum of €100,000 per client (€250,000 in aggregate) may be discharged by the Fund on its behalf if the member firm is unable to do so, where the above detailed ICCL has failed to adequately compensate any client of the member. In addition to the above mentioned compensation we also hold Professional Indemnity Insurance.
Remedies on Default of Consumer In respect of non-life insurance policies, premiums are due for payment on or before the inception, the renewal or alteration date, as appropriate. Failure to make payment in full will result in us advising the insurer in question and cover may be cancelled from the commencement date ("ab initio") or restrictions in cover may be imposed. Bank fees charged on unpaid cheques will be charged to you and are payable in full with all other outstanding balances. No agency transfer may be effected until the account is cleared in full.
Client Premium Handling Return premiums obtained, following a midterm alteration or cancellation of a policy will be refunded to you within 5 working days of being received by MMPI.
Credit Terms - Client Premiums We can, where circumstances permit, arrange suitable premium finance with an approved institution, subject to the terms and conditions imposed by the finance provider. A fee may be levied for this service.
Custody Arrangements & Documentation It is acknowledged that, in the normal course of business, certain documentation (e.g. policy documents, contract notes, share certificates, etc.) may be received by us and held on file, for you, pending completion of the underlying transaction(s). On completion of such transaction(s), all documentation, which rightfully belongs to you, will, as a matter of course, be forwarded to you without delay. All insurance policy documentation should be read thoroughly to ensure that the cover arranged is in accordance with your insurance requirements. It is of vital importance that this documentation is retained safely as such documentation forms the basis of contract between insurer and the insured. A summary of insurance covers for a non-life client may be supplied. These summaries are not intended to be a definitive interpretation of the policy cover, terms and condition, reference should be made to the policy documentation issued by insurers.
Anti-Money Laundering
Personal Information If you decide at any time that you no longer wish us to hold or use personal information relating to you, or if the information we hold is or becomes inaccurate, please notify us in writing, and we will, subject to our regulatory obligations, remove or rectify the information within a reasonable time. You are also entitled to access information which we hold relating to you and can do so by applying to us in writing. We reserve the right to charge a reasonable administration fee (not to exceed €6.35) for each access request. We are entitled to take reasonable steps to establish your identity in relation to any amendment, access or deletion request and may, at the firm's discretion, require proof of identity or other documents. All data will be retained for no longer than necessary for the purpose for which it is provided and as required to satisfy regulatory requirements. We retain client transaction records for a period of at least six years. From time to time, unless you have opted out of this service, we may advise you by telephone, letter or email of the firm's products and services which you may find of interest. If you decide at any time that you no longer wish to receive these notices please notify us in writing and we will stop contacting you in this regard. There is no charge for this service.
Other Important Matters This service and these terms will be governed by the law of the Republic of Ireland. If we make a material change to these terms of business we will put the updated version on our website www.mmpi.ie and provide you with a copy as soon as possible.
Data consent I/We do not consent to the information being used by Moloney Mortgages Pensions & Investments Limited for marketing purposes. Tick box if applicable
Acceptance Signed ________________________________ Dated _______________ Signed ________________________________ Dated _______________ Effective date: 1 January 2012
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