Bank of Ireland Insurance Services Limited ( BIIS )

Transcription

1 Bank of Ireland Insurance Services Limited ( BIIS ) Terms of Business Our legal name is Bank of Ireland Insurance Services Limited The Terms of Business set out below provides the basis on which BIIS will provide business services to you as our customer. Should you have any queries we will be happy to deal with them. Please see contact details below. Bank of Ireland Insurance Services Limited is a member of the Bank of Ireland Group. Bank of Ireland Insurance Services Limited is regulated by the Central Bank of Ireland. BIIS is registered on the Central Bank of Ireland Insurance Mediation Register under reference number C4840. The Register can be viewed on the Central Bank of Ireland website at Bank of Ireland Insurance Services Limited is subject to the Consumer Protection Code which offers protection to consumers and this code can be found on the Central Bank s website BIIS does not charge customers directly for the business services that it provides. However BIIS is remunerated by the various product producers from whom it holds an appointment in respect of each product introduced. The amount of remuneration in respect of each service is available on request. BIIS holds a written appointment for the following product producers ( Underwriters ); BIIS is tied to RSA Insurance Ireland Limited for the purpose of selling Home Insurance and Car Insurance BIIS is tied to Genworth Financial for the purpose of selling Payment Protection Insurance BIIS is an agent of AIG Europe Limited who are our sole provider of Travel Insurance based on a limited analysis of the market. BIIS also holds an appointment for the following products which are only available on a renewal basis to existing customers: RSA Insurance Ireland Limited - Hospital Cash Insurance and Personal Accident Insurance, AIG Europe Limited - Hospital Cash Insurance and Stonebridge International Insurance Limited - Accidental Death Insurance Contact Details New Century House Mayor Street Lower IFSC Dublin 1 Telephone: Fax: (01) BIIS s policy is to avoid any conflict of interest when providing business services to our clients. However in the unlikely event that an unavoidable conflict of interest arises BIIS will ensure that the client is treated fairly. BIIS is a member of the Investor Compensation Scheme, which provides certain remedies to eligible clients in the event of default by BIIS. The main details of the operation and conditions of the scheme are outlined separately below. Page 1 of 2

2 BIIS may hold and use the information that a customer has provided or that has been provided on their behalf on computer file, in any dematerialised form or in written hard copy and may pass the information to any company within the Bank of Ireland Group or third parties for administration, regulatory, customer care and service purposes. This information will not be transmitted to any other party other than in accordance with law and any consent that a customer may have provided. Where a customer transacts any business with a product producer through BIIS then that business will not be subject to these Terms of Business but will be conducted instead in accordance with that other entity s conditions or Terms of Business. BIIS may at its discretion record all or certain telephone conversations including those held between a customer and BIIS. The customer s responsibilities to BIIS include providing BIIS with all necessary information and documentation required to enable BIIS to provide its services. Any failure by the customer to provide documentation or information may result in BIIS being unable to provide advice or transmit orders in respect of relevant products. BIIS requires the customer to provide documentation and information that is accurate and complete and BIIS will rely on such documentation or information without any obligation to verify or check it in any way. In the event of default by customers in their obligations to BIIS or the Underwriters, either may notify customers of such default requesting action to remedy it to their satisfaction. They will if necessary exercise their legal rights to receive any payments due to them from clients for business services provided by them. Notwithstanding any general willingness to provide business services, BIIS shall not be under any obligation to enter into any particular transaction or to accept and act in accordance with any instruction. It is hereby agreed that BIIS shall not be liable for the non-performance of any of its obligations by reason of any cause beyond the control of BIIS, including any breakdown or failure of transmission or communication or computer facilities, postal or other strikes or similar industrial action and the failure of any relevant agent or intermediary. In no event will BIIS have any liability for consequential or special damage, whether arising from gross negligence, wilful default, fraud or otherwise. If you have any complaint in relation to the business services provided by BIIS you should outline the nature of your complaint to us in writing. The complaint will be fully investigated by us and a full response will be provided to you. While our investigation of any complaint is ongoing we will provide you with a regular written update. In the event that you are dissatisfied with the outcome of a complaint or if your complaint is not resolved within 40 business days you are entitled to refer your complaint to; The Financial Services Ombudsman s Bureau, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2 Lo Call: , Tel: , Fax: Details of the Investor Compensation Scheme 1. The Investor Compensation Act 1998, as amended ( Act ) provides for the establishment of a compensation scheme and the payment, in certain circumstances, of compensation to certain clients (known as eligible investors) of authorised investment firms, as defined in that Act. 2. BIIS is a member of that compensation scheme. 3. Compensation may be payable where money or investment instruments owed or belonging to clients and held, or in the case of investment instruments, administered or managed by BIIS, cannot be returned to those clients for the time being and there is no reasonably foreseeable opportunity of BIIS being able to do so. 4. A right to compensation will arise only: a) If the client is an eligible investor as defined in the Act. b) If it transpires that BIIS is not in a position to return client money or investment instruments owed or belonging to clients of BIIS and; c) To the extent that the client s loss is recognised for the purposes of the Act 5. Where an entitlement to compensation is established, the compensation payable will be the lesser of: a) 90 per cent of the amount of the client s net loss as recognised for the purposes of the Act. or b) Compensation of up to E20,000 Receipt of these Terms of Business constitutes your acceptance of them. These Terms of Business will be governed by the laws of Ireland which shall be deemed to be the proper law and govern all transactions or proceedings in or concerning these Terms of Business. The Courts of Ireland shall have jurisdiction to hear any proceedings. Full Registered Address Bank of Ireland Insurance Services Limited 40 Mespil Road, Dublin 4 Registered in Ireland No The effective date of these Terms of Business is July 2013 and they will apply until further notice. Page 2 of 2 RS/CC8163 (07/13)

3 Terms of Business of RSA Insurance Ireland Limited Our Status RSA is a registered business name of RSA Insurance Ireland Limited. RSA Insurance Ireland Limited is a private company limited by shares registered in Ireland under number with registered office at RSA House, Dundrum Town Centre, Sandyford Road, Dundrum, Dublin 16. Telephone Number: (01) RSA Insurance Ireland Limited is a Non-Life Insurance Undertaking authorised by the Central Bank of Ireland under the European Communities (Non-Life Insurance) Regulations 1994 to carry on Non-Life Insurance Business. RSA Insurance Ireland Limited is regulated by the Central Bank of Ireland. RSA is subject to the Central Bank s Codes of Conduct which offer protection to consumers. These are the Consumer Protection Code and the Minimum Competency Code. These codes can be found on the Central Bank s website RSA Insurance Ireland Limited is part of RSA Insurance Group plc. Our Services RSA provide insurance contracts, underwriting and risk management services for all the primary classes of non-life insurance Cooling-Off Period / Right To Withdraw RSA policyholders who are consumers for the purposes of the European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004 have the right to cancel their policy as set out in these Regulations. This means that a consumer may cancel their policy within 14 days of (a) the day when the contract is entered into or (b) the day on which the consumer is given the contractual terms and conditions of the policy whichever is the later. In this situation RSA shall refund all money paid although RSA reserve the right to impose a charge in respect of services supplied. Period of Insurance/Cancellation Unless instructions to cancel are received the period of insurance in respect of any policy held with RSA will be the period specified by RSA in the Policy Schedule / Renewal notice. RS/FAC8111 (12/13)

4 Charges/Default Customers entering into a contract of insurance with RSA will be charged an annual premium based on assessment and rating of the insurance risk and exposure. Please note that non-life insurance premiums are subject to a Government levy. In some circumstances RSA may offer the facility of paying the annual insurance premium by instalment. Where this facility is available, a charge for payment by instalment may apply up to a maximum of 8% of the premium due. Please note that the charge for payment by instalment is subject to change. In the event of default by the customer (premium payment or non-disclosure of facts) RSA reserves the right, with notice to the customer, to withdraw insurance and cancel the policy immediately. Conflict of Interest It is our policy to avoid any conflict of interest when providing business services to our clients. If an unavoidable conflict arises we will advise you of this in writing before providing any business service. The RSA Conflicts of Interests Policy recognises the importance of identifying any potential conflicts of interest at the earliest stage. RSA promotes this Policy and monitors our business activities to ensure adherence to the Policy. In the event that you have a complaint in connection with a perceived conflict of interest, you may avail of the Customer Complaints Procedure set out below. Customer Complaints Procedure We aim to provide the highest quality of customer service at all times. We are eager therefore to learn about any aspect of our service or products not meeting customer expectations. If you have a complaint in connection with company service, the details of your policy, perceived conflict of interest or treatment of a claim please contact your Insurance Broker or our Customer Service team at RSA. Our Complaints Procedures ensure that we will respond to complaints within the timelines set out in the Consumer Protection Code. We will acknowledge each complaint in writing within 5 business days and will provide a point of contact for the handling of the complaint. We will endeavour to resolve complaints quickly but if this is not possible we will provide written updates at intervals of not greater than 20 business days. If the complaint is not resolved within 40 business days we will inform you of the anticipated timeframe for resolution and your right to refer the matter to the Financial Services Ombudsman s Bureau. If your complaint is not resolved to your satisfaction you may contact our Customer Complaints Manager, RSA Insurance Ireland Ltd, RSA House, Dundrum Town Centre, Sandyford Road, Dublin 16. Telephone no: Tel: , Outside Ireland Tel: In the event of the issue not being resolved you may contact: The Insurance Information Service of Insurance Ireland, Insurance House, 39 Molesworth St, Dublin 2, Telephone (01)

5 The Service can advise you on how to continue further, and may be able to help resolve the problem. Contacting Insurance Ireland will not affect your right to refer your complaint to the Financial Services Ombudsman s Bureau. You may be eligible to bring your complaint to the Financial Services Ombudsman s Bureau. The details are below: Financial Services Ombudsman s Bureau, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2 Telephone or (01) You may only appeal a Financial Services Ombudsman s Bureau finding to the High Court. We will not bear the cost of any appeal you bring. Contract Law The parties to a contract of insurance covering a risk situated in the Republic of Ireland are permitted to choose the law applicable to the contract. This insurance contract will be governed by Irish Law. Communications between you and us about this policy will be in English. The insurer that you have entered into a contract with is RSA Insurance Ireland Limited. Compensation Please note that in the event of RSA Insurance Ireland being unable to pay a claim you may be entitled to compensation from the Insurance Compensation Fund in Ireland. Data Protection RSA Insurance Ireland Ltd recognise that protecting personal information including sensitive personal information, is very important and we recognise that you have an interest in how we collect, use and share such information. Please read the following carefully as it contains important information relating to the information that you give us or has been provided to us on your behalf. If you provide information relating to anyone other than yourself, you are responsible for obtaining their consent to the use of their data in the manner outlined below. What Does RSA do with Your Personal Data Information you provide will be used by RSA for the purposes of processing your application and administering your insurance policy. RSA may need to collect sensitive data relating to you (such as medical or health records or convictions) in order to process your application and/or any claim made. All information supplied by you will be treated in confidence by RSA and will not be disclosed to any third parties except (a) to our agents, sub-contractors and re-insurers (b) to third parties involved in the assessment, administration or investigation of a claim, (c) where your consent has been received or (d) where permitted by law. In order to provide you with products and services this information will be held in the data systems of RSA or our agents or subcontractors. RSA may pass your information to other companies for processing on its behalf. Some of these companies may be based outside the EEA, but in all cases RSA will ensure that its transfers of data are lawful and that your information is kept securely and only used for the purposes for which it was provided. Calls to RSA may be recorded for quality assurance or verification purposes.

6 Fraud Prevention, Detection & Claims History In order to prevent and detect fraud and the non-disclosure of relevant information RSA may at any time: Share information about you with companies within the RSA Insurance Group, other organisations outside the RSA Insurance Group including where applicable private investigators and public bodies including An Garda Síochána; Check and / or file your details with fraud prevention agencies and databases, and if you give us false or inaccurate information and we suspect fraud, we will record this. RSA may also search these agencies and databases to: Help make decisions about the provision and administration of insurance, credit and related services for you; Trace debtors or beneficiaries, recover debt, prevent fraud and to manage your insurance policies with RSA; Check your identity to prevent money laundering, unless you furnish us with other satisfactory proof of identity; Undertake credit searches and additional fraud searches. Insurance Link Database Information about claims (whether by our customers or third-parties) made under policies that we provide is collected by us when a claim is made and is placed on an insurance industry database of claims known as Insurance Link. This information may be shared with other insurance companies, self insurers or statutory authorities. Insurance companies share claims data: a. to ensure that more than one claim cannot be made for the same personal injury or property damage b. to check that claims information matches what was provided when insurance cover was taken out c. when required, to act as a basis for investigating claims when our recorded information is incorrect or when we suspect that insurance fraud is being attempted. The purpose of Insurance Link is to help us identify incorrect information and fraudulent claims and, therefore, to protect customers. Guidelines for sharing your information with other insurance companies, self-insuring organisations or statutory authorities are contained in the Data Protection Commissioner s Code of Practice on Data Protection for the Insurance Sector which is available at Under the Data Protection Acts 1988 and 2003 you have a right to know what information about you and your previous claims is held on Insurance Link. If you wish to exercise this right then please contact us at the address below. How to contact us On payment of a small fee you are entitled to receive a copy of the information we hold about you and to seek rectification of any inaccurate data. If you have any questions, or you would like to find out more about this notice you can write to the Data Protection Officer, RSA Insurance Ireland Ltd, Dundrum Town Centre, Sandyford Road, Dundrum, Dublin 16. Effective Date: 18th December 2013