Terms of Business

These Terms of Business set out the basis on which Chrome Insurance Limited (the ‘Company’) will provide business services to you as an individual private client of the Company.  The full name and address of the Company is: Chrome Insurance Limited, 18 Fitzwilliam Square, Dublin 2.  Please take a few minutes to read through these and if you have any questions we will be happy to answer them.

Authorised Status

The company is regulated by the Central Bank.  Its Authorisation Number is 53816.  The Company Registered Number is 470846.

Services

The Company is regulated by the Central Bank as a Multi Agency Intermediary for Life & Non-Life Assurance.

Chrome Insurance Limited offers advice in relation to Buildings and Contents Insurance, Motor Insurance, Travel Insurance, Mortgage Repayment Protection Insurance.

The Company receives and transmits orders on its client’s behalf to any of the product producers and insurance undertakings from whom the Company holds letters of appointment.  A list of all such entities is contained elsewhere in these Terms of Business

Remuneration Policy

The Company may receive commission and other payments from the Product Providers to whom orders are transmitted.

Where the firm is not in receipt of commission, in the case of life assurance and investment contracts, the Company may charge a service fee, agreed with clients, depending on the complexity, time spent, and nature of the transaction.  Summary details of these payments will be included in a product information document, which you are legally entitled to receive before an application for a product is completed, and full details will be included with your cooling off period.

In respect of General Insurance Business the Company may charge a non-refundable service fee per policy (at inception, renewal and or cancellation) of up to 5% in respect of personal lines business, subject to a minimum of €30.00.

Conflict of Interest

It is the policy of Chrome Insurance to avoid any conflict of interest when providing business services to clients.  However, where an unavoidable conflict arises we will advise you of this in writing before providing any business service.  If you have not been advised of any such conflict you may assume that none arises.

Complaints Procedure

Chrome Insurance has in place a written procedure for the handling of complaints. This procedure ensures that all complaints are recorded and acknowledged within 5 business days. The acknowledgement will indicate the name and contact details of the person dealing with the complaint.  The complaint will be fully investigated and we will provide the complainant with a regular written update on the progress of the investigation at intervals of not greater than 20 business days.

A full response will be provided within 5 business days of completing the investigation.

If we do not resolve the complaint within 40 business days we will inform the complainant of the anticipated timeframe within which we hope to resolve the compliant.  In the event that you remain dissatisfied with the firm’s handling of and response to your complaint you are entitled to refer to the Financial Services Ombudsman’s Bureau.

Financial Services Ombudsman, Third Floor, Lincoln House, Lincoln Place, Dublin 2.  Telephone: 1890 882090. www.financialombudsman.ie.  

Consumer Protection

Chrome Insurance is a member of the Investor Compensation Scheme established under the Investment Compensation Act of 1998, which provides for the establishment of compensation in certain circumstances, to certain clients, where money or investment instruments owed or belonging to clients and held, or in the case of investments, administered or managed by the firm, cannot be returned to those clients for the time being and there is no reasonable foreseeable opportunity do so. 

Where an entitlement to compensation is established, the compensation payable will be the lesser of 90% of the amount of the client’s loss as recognised for the purposes of the Investor Compensation Act, 1998 or compensation of up to €20,000.

Client’s Money

The Company will accept payments in cash, cheque or bankers credit in respect of all classes of insurance in the circumstances permitted under Section 25G of the Investment Intermediaries Act 1995.  Payments must represent premium in respect of either a renewal of a policy, which has been invited by an insurance undertaking or product producer or a proposal accepted by an insurance undertaking or product producer.

Please note a 2% merchant charge is applied to all Credit Card payments.

Chrome Insurance is not authorised to accept cash or negotiable instruments in any other circumstances.

Credit Policy

We regret that credit cannot be extended to clients in respect of premiums, initial, renewal or additional.  Initial or first premiums must be paid at inception of cover and renewal premiums before the policy renewals date otherwise the Company will advise the insurance undertaking or product producer involved and cover will be cancelled.

Chrome Insurance will, if necessary, exercise its legal rights to receive any payments due to it, from clients for business services provided by it and to be reimbursed for any value obtained by it for clients arising from payments to it by clients which subsequently default.

Receipts

The Company will issue a receipt for each non-negotiable or negotiable instrument or payment received.  This is required pursuant to Section 30 of the Investment Intermediaries Act 1995 and the Consumer Protection Code (2006) as issued by the Central Bank.  These are issued with your protection in mind and should be stored in a safe place.

Consent under the Data Protection Acts

We hereby agree that the details, information and personal data which are collected from us or from third parties in respect of our application will be retained by the Company in electronic form and will be scanned and stored on computer, and/or kept in paper form, kept for and used for the purposes of processing my/our application and administration of same and we agree to retention of this information in electronic form.

The Company may need to disclose and communicate this information to the Product Providers as listed in Appendix 1 of this document for the purposes of processing your application and provision of ancillary services and administrative functions associated with the application and we consent to the Company doing so for the purposes stated.

Appendix 1

Insurance Undertakings / Product Producer Appointments

The following are a list of insurance undertakings and product producers form which letters of appointments are held. 

Non Life Assurance: Assurant Solutions, Aviva General Insurance, Benchmark, Prestige Underwriting Services Limited, RSA, Zurich.

Life Assurance New Ireland, Caledonian Life.  

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