Our Company Status:
Abingdon Insurances Ltd is authorised in Ireland to provide Investments, tracker bonds, PRSA’s, listed shares and bonds and insurance policies under section 10 of the Investments Intermediaries Act, 1995 as amended. Our firm is also regulated as insurance/reinsurance intermediaries under the European Communities (Insurance Mediation) Regulations 2005 (as amended). The Central Bank of Ireland holds registers of regulated firms. You may contact the Central Bank on (01) 2246000 or alternatively visit their website on www.centralbank.ie to verify our credentials.
Regulated Status:
Abingdon Insurances Ltd is regulated by the Central Bank of Ireland. Our regulator number is C2090
Governing Law and Language:
The laws of Ireland form the basis for establishing relations between you and Abingdon Insurances Ltd. All contracts, terms, conditions and communications to any policy will be in English
Statutory Codes:
Abingdon Insurances Ltd is subject to and complies with the Consumer Protection Code, the Minimum Competency Code, and the Fitness & Probity Standards. These Codes offer protection to consumers and can be found on the Central Bank website www.centralbank.ie
Our Services:
As Insurance Intermediaries we provide advice in relation to life insurance, pensions, income protection, savings and investments. We provide advice on Health Insurance on a limited analysis basis with Irish Life Health Insurance Ltd.
With the significant number of appointments we hold we can offer our clients an extensive choice of suitable products that best serve their needs and circumstances. We do not guarantee nor make representations in regard to, and expressly disclaim responsibility for the financial security of insurance companies and product producers with which we place business.
Financial Services: Protection, Investments, Pensions: We provide advices and can arrange cover for products such as life cover, specified serious illness, income protection, pensions, savings & investment products and PRSA’s both for individuals and corporate clients. We can also provide you with reviews for your present arrangements.
Unregulated Investments: We also provide advice on unregulated investments and these products do not require licensing or authorisation or registration with the Central Bank of Ireland. Accordingly these investments are not covered by the conditions of the Central Bank of Ireland under which consumers may be protected by a Statutory Compensation Scheme. Also you should note that our Professional Indemnity cover does not cover unregulated investments.
Scope of Research:
Our research conducted by us on your behalf is restricted to the companies we hold agencies with. A full list of our agencies is available on request.
We are members of the Irish Brokers Association (IBA)
Conflicts of interest:
In all circumstances we will endeavour to avoid conflicts of interest with clients. In the event that such a situation does arise, we will explain the position fully and will ensure at all times, whilst seeking resolution, we treat our customers fairly.
Default by our client:
Where a client defaults on the premium due, we will seek to reconcile the matter directly with the client by instructions to forward payment to avoid cancellation. If the matter cannot be resolved within a given time frame, the product producer will be notified of the default and instructed to cancel the policy. Legal action against such default may be initiated by the product producer in order to recoup any premium that may remain outstanding.
It is of utmost importance to the continuance of your insurance cover that the premium be paid in full and in line with credit terms, if any
Complaints:
Abingdon Insurances Ltd has in place, a written procedure for the effective handling of any complaints received. This procedure ensures that complaints will be acknowledged in writing within 5 business days.. . A written update will be issued to you every 20 working days. We will endeavour to resolve the complaint within 40 working days and findings will be communicated to you at the earliest opportunity.
All complaints investigations will be overseen by the compliance Director. Customers who are dissatisfied with the outcome of our findings may refer the matter to the Financial Services Ombudsman / Pensions Ombudsman.
Investor Compensation Company Ltd:
We are members of the investor Compensation Scheme established under section 38 of the Investors Compensation Act 1998. The Act provides that compensation shall be paid to eligible investors (as defined in the Act) to the extent of 90% of an investor’s net loss of €20,000 whichever is the lesser and is recognized as being for compensation. We are also members of the Irish Brokers Association Compensation scheme. Subject to the rules of the scheme the liabilities of its member firms up to a maximum of €100,000 per client (or €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 investor compensation scheme has failed to adequately compensate any client of the member. Further details available on request.
General Statement of Remuneration & Charges:
For a full list of our charges please CLICK HERE
In Summary our fees/commissions are
Life Assurance/Pensions/Investments: Paid via commission’s payable by the product producer. Amount disclosed before the transaction is complete. If no commission payable or advice only service is sought then we charge a fee for our services. Our hourly rate is €200 and we endeavour to agree a fee in advance with our clients.
Handling Clients Money:
Abingdon Insurances Ltd will accept payments in cash and by cheque in respect of the circumstances permitted under section 25G of the investment Intermediaries Act 1995. Payments must represent premium is respect of either a renewal of a policy, which has been invited by an insurance undertaking or product producer. Abingdon Insurances Ltd is not authorised to accept cash or negotiable instruments in any other circumstances.
Receipts:
Abingdon Insurances Ltd shall issue a receipt for each non-negotiable instrument or payment received. This is required pursuant to Section 30 of the ‘Investment Intermediaries Act 1995 and the Consumer Protection Code issued by the financial Regulator. These are issued with your protection in mind and should be stored safely.
Data Protection
Data Protection Acts, 1998 and 2003: Abingdon Insurances Ltd will treat all personal information given to be in confidence as confidential information and we will not disclose such information except as permitted by you or as required by law. The personal Data you provide us will be held on paper and electronically and will only be used for the purposes permitted by the Data Protection Acts. You permit us to share your personal data with lending institutions and/or insurance institutions for the purpose of providing you the services you have requested.
You also give Abingdon Insurances Ltd permission to contact you regarding other products and services that Abingdon may provide. You understand that you can opt out of this at anytime by advising Abingdon Insurances Ltd in writing or verbally.
Emails
Abingdon Insurances Ltd uses unencrypted emails and unless we are advised to the contrary we will take it that you are giving your consent to receive these emails.
Business Hours:
Monday to Friday 9.00am to 5.00pm
Closed for lunch 1.00pm to 2.00pm
Duty of Disclosure:
You have a duty to disclose all facts which will influence an insurer in deciding whether they will grant cover and on what terms cover will be granted. You are required to disclose whether or not the insurer asks the question. Failure to disclose a material fact can allow the insurer to deny a claim or make a policy void. If in doubt about any fact please disclose to a member of staff.
Client Acknowledgment:
I/We acknowledge and confirm that I/we have been provided with a copy of the TERMS OF BUSINESS of Abingdon Insurances Ltd
Signed: ______________ Date:____________
Abingdon Insurances Ltd is regulated by the Central Bank of Ireland
October 2016