Terms of Business of: Revoclife Ltd T/A Gateway Insurance & Investments Effective Date – 25thMay 2018
Revoclife Ltd T/A Gateway Insurance & Investments Are Independent Brokers.
These Terms of Business set out the Basis on which Revoclife Ltd T/A Gateway Insurance & Investmentswill provide Business series to you as a client of the firm. They also contain details of our regulatory and statutory obligations and the respective duties of both the Firm and you in relation to such services. Revoclife Ltd T/A Gateway Insurance & Investmentsis a member of Brokers Ireland.
Revoclife Ltd T/A Gateway Insurance & Investmentsis authorised by the Central Bank as an Insurance/Reinsurance intermediary under the European Communities (Insurance Mediation) Regulations, 2005 (as amended), as an Investment Business Firm under Section 10 of the Investment Intermediaries Act,1995 (as amended) and Investment Product Intermediary under Section 31 of the Investment Intermediaries Act, 1995(as amended) Investment Product Intermediary under the Investment Intermediaries Act 1995. Copies of our various Authorisations are available on request. Our Authorisations can be verified by contacting the Central Bank on 01 224 6000. We are subject to the Central Banks Consumer Protection Code, Minimum Competency Code, Fitness and Probity Standards – these can be found on the Central Banks website www.centralbank.ie
Revoclife Ltd T/A Gateway Insurance & Investments complies with the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 1988 and 2003.
The data which you provide to us will be held on a computer database and paper files for the purpose of arranging transactions on your behalf. The data will be processed only in ways compatible with the purposes for which it was given and as outlined in our Data Privacy Notice and Data Protection policy. We would also like to keep you informed of insurance, investment and any other services provided by us or associated companies with which we have a formal business arrangement; which we think may be of interest to you. We would like to contact you by way of letter, email or telephone call. If you would like to receive to receive such marketing information please complete the permission statements contained in the Terms of Business acknowledgement letter attached.
We may receive referrals from such firms and may advise them of any transactions arranged for you.
You have the right at any time to request a copy of any “personal data” within the meaning of the GDPR that our office holds about you and to have any inaccuracies in that information corrected. Please contact us at [email protected] you have any concerns bout your personal data.
- Revoclife Ltd T/A Gateway Insurance & Investments;Trade with authorised product producers only, but in doing so cannot guarantee the continuing solvency of said product producers nor can we be held responsible for the insolvency of any such product producer.
- Revoclife Ltd T/A Gateway Insurance & Investments;is authorised to offer broad-based investment advice. This includes advice on life assurance policies, serious illness and other protection policies, pension policies and other related retirement policies, savings and investment life assurance policies.
A list of our Life product producers which whom we hold an agency appointment is available on request.
- Revoclife Ltd T/A Gateway Insurance & Investments.;Is authorised to offer broad based insurance advice and give a fair analysis of the market including property, motor, livestock, liability, marine, aircraft, home and all related non-life insurance.
A list of our Commercial/Personal Lines product producers which whom we hold an agency appointment is available on request.
- Revoclife Ltd T/A Gateway Insurance & Investments.; Is a Deposit Broker.
Revoclife Ltd T/A Gateway Insurance & Investments.; Is authorised to receive and transmit orders on your behalf to product producers from which it has received a written letter of appointment.
- Revoclife Ltd T/A Gateway Insurance & Investments;Arrange insurance in accordance with information received. It is important to ensure that all information provided is correct. Failure to disclose material information could invalidate your insurance.
- Revoclife Ltd T/A Gateway Insurance & Investments.; Is remunerated by a professional fee for the initial work activity and time spent in seeking the best terms, advice, product and product producer for your specific needs. An Administration Fee is also charged for the activity involved in the Renewal of the policy and also any Alterations that take place during and at termination of a policy, including duplicate documentation. A scale of our Fees is under noted. We are usually remunerated by commission received from the product producers for the work involved in placing an order and finalizing the product with them on your behalf. Details of commission arrangements are available on request (Some product producers do not pay a commission).
Scale of Fees
| ||Initial Fee||Renewal ||Policy Alterations / Cancellation |
|Motor||Up to a Max of €100||Up to a Max of €100||Up to a Max of €100|
|House||Up to a Max of €100||Up to a Max of €100||Up to a Max of €100|
|Commercial ||Up to a Max of 25%||Up to a Max of 25%||Up to a Max of 25%|
Additional Fees / Income Chargeable on Premium Finance
- Revoclife Ltd T/A Gateway Insurance & Investments.; Is remunerated by commission or fee for arranging and/or the provision of advice regarding Assurance, Insurance, Claims etc, Fees are charged on a time spent and disbursement basis. Our current basic hourly rate is up to €250 for directors, Consultants, and up to €100 for support staff. In determining the rate and any additional charges, factors such as specialist’s skills, complexity, value risk and urgency will be taken into account. The rate of fees charged will be consistent with the industry average.
We reserve the right to amend these fees should the complexity of the product require a higher fee. We will confirm and agree this fee with you prior to any increased charge being applied.
- Revoclife Ltd T/A Gateway Insurance & Investments.; Will accept payments in Cash, Cheque and by Credit / Debit card in respect of all classes of Insurance in the circumstances permitted under Section 25G of the Investment Intermediaries Act 1995. Revoclife Ltd T/A Gateway Insurance & Investmentsis not authorised to accept cash or negotiable instruments in any other circumstances.
Premiums are due on / or before Renewal / Inception Date. Under the Central Bank Legislation very strict rules apply in the payment of premiums to Insurance Companies. We will not be able to pay premiums to Insures which have not been received from clients. Therefore, to avoid policy cancellation, premiums must be paid strictly within the credit terms, if agreed, otherwise immediately prior to cover incepting or Renewal Date.
- A consumer (as defined by SI No. 853 of 2004) has the right to withdraw from an insurance policy (as defined under SI No. 853 of 2004) within 14 days of the start date of the policy without penalty and without giving any reason – this is known as the Cooling Off period. The right of withdrawal may be exercised by notice in writing to Revoclife Ltd T/A Gateway Insurance & Investments, quoting your policy number. Should this right be exercised the Insurance Company may charge a pro rata premium for the period you are on cover. If the cover is motor insurance the premium cannot be refunded until the Certificate of Insurance and Windscreen Disc have been received by Revoclife Ltd T/A Gateway Insurance & Investments.
You, the customer can cancel your policy by notice in writing at any time. Provided that all reasonable charges pertaining to costs incurred by Revoclife Ltd T/A Gateway Insurance & Investmentshave been paid and provided that no incident giving rise to a claim has occurred in the current period of insurance, you will be entitled to a proportionate return of the premium for the un-expired period of insurance unless the policy is on a minimum and deposit basis, and if this is the case, no return will be allowed on the policy and this will be noted on your policy schedule. If you cancel during the first year (outside of the Cooling Off period) short term rates apply, please see policy terms and conditions. In the case of cancellation of motor insurance you must return the Certificate of Insurance and Windscreen Disc toRevoclife Ltd T/A Gateway Insurance & Investments. Insurance companies normally reserve the right to cancel policies at any time by giving appropriate notice to your last known address. Please refer to your policy terms and conditions. In the event of a policy being cancelled during the period of insurance, any return due will be net of commission and fees.