0818 911 009


Insight Insurance

Building 6500, Avenue 6000, Airport Business Park, Cork


Tel: 021 4299002 E-Mail: info@itclanonline.com
Fax: 021 4299012 Website: www.insightinsurance.ie


Insight Insurance Brokers t/a Insight Insurance is regulated by the Central Bank of Ireland.


Terms of Business

These terms of business set out the basis on which Insight Insurance 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. Insight Insurance is regulated by the Central Bank of Ireland and is a member of Brokers Ireland.


Quotations are valid for 30 days from the date of issuing.

Authorised Status

Insight Insurance C13692 is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Union (Insurance Distribution) Regulations 2018; as an Investment Intermediary authorised under the Investment Intermediaries Act, 1995. Copies of our various authorizations are available on request. The Central Bank of Ireland holds registers of regulated firms. You may contact the Central Bank of Ireland on 1890 777 777 or alternatively visit their website at www.centralbank.ie to verify our credentials.


Codes of Conduct

Insight Insurance is subject to and complies with the Consumer Protection Code, the Minimum Competency Code and the Fitness and Probity Standards. These Codes offer protection to consumers and can be found on the Central Bank of Ireland website www.centralbank.ie


Our Product Suppliers & Services

Insight Insurance offers professional advice in relation to all classes of non-life insurance and transmits orders on client’s behalf to any of the insurance undertakings or product producers from whom the Company hold letters of appointment.


We will offer advice on a fair and personal 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 suitable to your needs. Subject to your agreement we may from time to time refer your contact details to Insight Private Clients Ltd Who specialize in the life assurance sector. 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). This firm does not have ‘tied’ relationship with any institution that would compromise our ability to offer you independent advice and choice. We will also offer assistance to you in relation to processing claims on policies taken out with us and in seeking renewal terms on your cover. To ensure continuity of cover, where you have an existing policy which is due to expire and where we have been unable to contact you, we may put continuing cover in force whilst awaiting your instruction. You will be liable for any premiums payable to the relevant insurer for the period of time between renewal and when we receive your instruction. You have the right not to avail of this service.


Statutory Codes

Insight Insurance 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.


Credit Intermediary

Insight Insurance is in receipt of commission from Premium Credit, C.P.F.I. And KBC for facilities arranged. Insight Insurance is registered with the National Consumer Agency as a Credit Intermediary.


Money Laundering

Insight Insurance are required to comply with the legislation in respect of Money Laundering and therefore required to seek information from all new clients to comply with the provisions of this legislation.


Failure to pay or default with financial institution/insurer direct debit

We reserve the right to instigate cancellation proceeding in the event of the following:

  • your non-payment of the premium due at inception, renewal or following a mid-term adjustment
  • your bank returns your cheque due to insufficient funds or any other reason
  • non-disclosure of relevant information
  • Insurer imposed cancellation

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.



References to “cooling off period” which was introduced by the Distant Marketing Directive. 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 Insight Insurance, 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 Insight Insurance.


You, the customer can cancel your policy by notice in writing at any time. Provided that all reasonable charges pertaining to costs incurred by Insight Insurance 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 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 to Insight Insurance. 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.


Premium Handling

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


Insight Insurance will issue receipts for each payment received pursuant to Section 30 of the Investment Intermediaries Act 1995 and these should be retained in a safe place. 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.


Remuneration and Fees

Insight Insurance is remunerated by a professional fee (brokerage) 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 (brokerage) is also charged for the activity involved in the renewal of the policy and also any alterations that take place during the policy period and at termination of a policy. A scale of our fees (brokerage) is under noted. We are usually remunerated by commission received from the product producers which range between 0% and a maximum of 25% for certain types of policy, for work involving the placement of insurance products with product producers on your behalf. Details of commission arrangements are available on request (Some product producers do not pay a commission). We may in certain cases arrange insurances via other Brokers and in such instances we will disclose to you all fees (brokerage) charged by such Brokers and ourselves prior to arranging cover. Where an override commission is received, this will be disclosed to you in general terms.


Remuneration Policy

We will normally be remunerated by way of commission received from the product producer underwriting the policy of insurance. We may in addition charge a fee or brokerage and, should we do so, we will advise you of this in writing prior to you incurring liability for it. In the event of policy cancellation, this fee will be non-refundable.


Class of Business Initial Fee Renewal Any Policy Alteration
Commercial General

Insurance Lines

Up to 100% of Premium subject to a minimum of €50 Up to 100% of Premium subject to a minimum of €50 Up to 100% of Premium subject to minimum of €50
Personal General Insurance Lines Up to €250 Up to €250 Up to €250
Premium Credit Finance 1.5% of premium 1.5% of renewal premium 1.5% of premium


Payment of Services by fee only

Clients may pay in full for the service provided by means of a fee which will be agreed with the client by the Company in advance of the provision or service. The amount of any commission otherwise receivable by the Company will be offset against any fee payable. Insight Insurance do not charge for handling any claim for which cover is provided by a policy of Insurance but may be in receipt of commission payments from loss assessors for business referred to them. 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 €20 will be charged for all duplicate documentation.


Return Premiums and Fees

In all contracts, commissions and fees charged are deemed earned at completion of your renewal process. In respect of private motor and household contracts, where a premium rebate is due to you this will be forwarded to you by cheque within five business days of the rebate becoming due or alternatively the amount will be credited to your account upon your written request to do so. We must rebate to you the return premium (including commission) in all cases. In respect of all other contracts we reserve the right to charge a fee equal to but no more than the commission arising from the return premium. In all cases we will obtain your written approval prior to doing so.


Licensed and Approved Insurers

Insight Insurance only transact and recommend Insurers who are licenced by the Department of Trade Enterprise and Employment or EU Insurers and who are also approved under the EU directives on the freedom of services and which must comply with the solvency and security legislation on their local member state. Insight Insurance do not and cannot guarantee the financial security of any Insurer.


Your Duty to give Information.

We are obliged to point out that you have a legal duty to provide to Insurers all information which is material to the risk being insured whether unfavourable or otherwise to you, at the time of placement. Material facts would include any information that could influence a decision by an Insurer on whether to accept a risk and if so, upon what premium and terms. If such information is not disclosed by you, your Insurer has the right to avoid your insurance from its commencement. If this right is exercised any claims under your policy will not be met. This responsibility applies throughout the period that you are insured.


Conflict of Interests

It is the policy of Insight Insurance 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.


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 Office Manager, Insight Insurance. Each complaint will be acknowledged in writing by us within 5 working days of receipt, updates will be advised in intervals of not more than 20 working days ,we will endeavor 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, you have the right to complain to the Financial Services and Pensions Ombudsman, (FSPO). A full copy of our complaints procedure is available on request.


Investor Compensation

Insight Insurance is a member of the Investor Compensation Company (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 littlest of 90% of the client’s loss, which is recognised as being eligible for compensation, or €20,000.


Brokers Ireland Compensation Fund

As a member of Brokers Ireland, Insight Insurance is also a member of Broker Ireland (formerly IBA) Compensation Fund. 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.


Data Protection

Insight Insurance complies with the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018.

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 mortgage, 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 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 dataprotection@itclanonline.com if you have any concerns about your personal data.


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