Brophy & Company Insurances Ltd
trading As: Brophy & Co and

Main Street, Blanchardstown, Dublin 15 Tel: 01 8213071 Fax: 01 8203316 E-Mail:

10 Grattan Street, Portlaoise, Co Laois Tel: 057 8682130 Fax: 057 8682135 E-Mail:



Brophy & Co Insurances Ltd is regulated by the Central Bank of Ireland

These terms of business set out the basis on which Brophy & Co Insurances Ltd (Brophy & Co from now on) will provide business services 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.

Authorised Status & Statutory Codes
Brophy & Co is authorised by the Central Bank of Ireland under the Investment Intermediaries Act 1995, and is registered with the Central Bank of Ireland as an Insurance Intermediary under the Insurance Mediation Directive and also a Mortgage Intermediary. Copies of our various authorisations are available on request. Brophy & Co is also registered with the National Consumer Agency to act as a Credit Intermediary.

Brophy & Co is subject to and complies with the Consumer Protection Code, Minimum Competency Code and the Fitness and Probity Standards as laid down by the Central Bank of Ireland.

Services Provided
We will offer advice on a fair analysis basis in relation to all classes of insurance policies. This means we will research the market place and providers and recommend the best product to suit your own needs. As a Credit Intermediary the firm can arrange personal loans e.g. premium finance.

We will identify and select a suitable product producer and on receipt of your instructions we will transmit orders on your behalf to one or more product producers (a list of which is available on request).

Factors that may be considered by Brophy & Co before advising of the availability of the product, may include: (1) price charged by the product provider, (2) extent and nature of cover provided, (3) service provided by the product producer in respect to claims, (4) availability of cover required area, (5) ability and desire of the proposer/insured to carry self deductibles/excess, (6) value placed by insured on long term relationships with existing product producers, (7) local accessibility of product producers.

This firm does not have ‘tied’ relationship with any institution that would compromise our ability to offer you independent advice and choice. With regard to Health Insurance we have a tied relationship to Aviva Health.

Fees & Remuneration
Brophy & Co 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. 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 finalising the product with them on your behalf. Details of commission arrangements are available on request (Some product producers do not pay a commission).

Initial Fee

Renewal Fee

Policy Alterations & Cancellations


Up to €100

Up to €100

Up to €100


Up to €100

Up to €100

Up to €100

Commercial and other products

Up to a maximum of 30% of premium subject to a minimum of €25

Up to a maximum of 30% of premium subject to a minimum of €25

Up to a maximum of 30% of premium subject to a minimum of €25

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. A fee of €25 will be charged for all duplicate or requested documentation.

Conflict of Interests
It is the policy of Brophy & Co to avoid any conflict of interest when providing business services to its clients. However, where an unavoidable conflict may arise we will advise you of this before proceeding to provide any business service. If you have not been advised of any such conflict you are entitled to assume that none arises.

Premium Handling
Brophy & Co will accept payments in cash, by 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. Brophy & Co is 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 insurers 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. Where payment is made by Credit Card, Brophy & Co may charge a fee of up to 1.89% as per our Merchant Service providers’ terms and conditions.

Premiums can also be paid by direct debit with some product producers who have their own facilities. We will outline their terms and conditions that you are subject to.

For product producers who do not have direct debit facilities to finance premiums we can assist in arranging premium finance with a third party provider, subject to their acceptance criteria. Monies received are treated similarly to how we handle premiums received. They act independently from the product providers but can enforce cancellation of the policy due to non payment, however clients are ultimately liable for monies outstanding irrespective of this option obtained or not as per money handling procedures stated.

Where a client is entitled to a refund of premium, for whatever reason, Brophy & Co will deduct the commission already earned, from that refund, in each and every case. Brokerage fees, already paid, will not be refunded. A handling fee of up to €25 may be charged on refunds, in each and every case.

Cancellation / Cooling Off Period
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 Brophy & Co Insurances Ltd, 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, cancellation and premium refunds cannot be processed until the Certificate of Insurance and Windscreen Disc have been received by Brophy & Co Insurances Ltd.

A cooling off period does not apply to travel insurance policies purchased. You, the customer, can cancel your policy by notice in writing/ and or signed mandate at any time. Provided that all reasonable charges pertaining to costs incurred by Brophy & Co Insurances Ltd have 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 remaining 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. 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.

Failure to pay or default
We reserve the right to instigate cancellation in the event of the following:

Your insurer may cancel your policy in certain circumstances. These conditions are clearly outlined on all policy documents.

When your policy ends or is cancelled, we will send you any documentation and information that you are entitled to on request subject to settling all outstanding debts.

Investor Compensation
Investor Compensation Company Ltd (ICCL) Scheme
Brophy & Co Insurances Ltd is a member of the Investor Compensation Company Ltd (ICCL) Scheme established under the Investor Compensation Act, 1998. The legislation provided for the establishment of a compensation scheme and to the payment in certain circumstances, of compensation to certain clients of firms (known as eligible investors) covered by the Act.

However, you should be aware that a right to compensation would only arise where client money or investment instruments held by this company on your behalf cannot be returned, either for the time being or for the foreseeable future, and where the client falls within the definition of eligible investor as contained in the Act. In the event that a right to compensation is established, the amount payable is the lesser of 90% of the client’s loss, which is recognised as being eligible for compensation, or €20,000.

Irish Brokers Association (IBA) Compensation Fund Ltd
Brophy & Co Insurances Ltd 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 (established by law) has failed to adequately compensate any client of the member.

Complaints Procedure

The company has a written procedure in place for the effective consideration and handling of complaints. Any complaints should be addressed in writing to the Managing Director, Brophy & Co. Each complaint will be acknowledged by us within 5 working days of receipt, updates will be advised in intervals of not more than 20 working days ,we will endeavour to resolve the complaint within 40 business days and findings will be furnished to you within 5 working days of completion of the investigation. In the event that you are not entirely satisfied with the firms handling of and response to your complaint, contact may be made with the Irish Brokers Association, 87 Merrion Sq, Dublin 2 and ultimately you have the right to complain to the Financial Services Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.

Data Protection & Information Use
Brophy & Co Insurances Ltd is a Data Controller as defined in the Data Protection Act 1988 and 2003.

We collect your personal details in order to provide the highest standard of service to you. We take great care with the information provided; taking steps to keep it secure and to ensure it is only used for legitimate purposes. To fulfil these objectives we may share information with other insurers, underwriters, and regulated entities and affiliated professionals. The information and other data provided to our office may be used to advise you of products and services we may offer from time to time. Other entities connected to our office may write out to you directly regarding service enhancements to their products.

You have the right at any time to request a copy of any ‘personal data ’within the meaning of the Data Protection Act 1988(as amended or re-enacted from time to time) that our office holds about you and to have any inaccuracies in that information corrected.

Governing Law, Language & Communication
The laws of Ireland form the basis for establishing relations between you and Brophy & Co Insurances Ltd. All contracts, terms, conditions and communications relating to any policies you may enter with this firm will be in English.

Communication of changes to policies by customers must be telephoned into the relevant office. We will not accept instructions communicated by e-mail or fax unless otherwise previously arranged between the client and ourselves. For changes made by Third Parties, we reserve the right of obtaining hard copy proof of changes mandated by our customers.

Customers are obliged to inform us of any material fact or change that takes place during the currency of the insurance policy. Example of this would be a change of address, motoring conviction, incidents that could give rise to a claim, etc.

The terms set out above apply to any service provided to you after January 1st, 2012 and should the firm change its terms you will be notified in advance.

Terms of Business V.5 Date: 01/01/12