JDM Insurance Services Ltd is regulated by The Central Bank of Ireland.
These terms of business set out the basis on which JDM Insurance Services Ltd 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.
JDM Insurance Services Ltd is a member of the Irish Brokers Association (IBA).
JDM Insurance Services Ltd is registered with The Central Bank of Ireland as an Insurance Intermediary under the European Communities (Insurance Mediation) Regulations, 2005. A copy of our authorisation is available on request. Our Regulatory No. Is 64071. Our authorisation can be verified by contacting The Central Bank of Ireland on +353 1 224 6000.
JDM Insurance Services Ltd arranges and provides advice on a fair analysis basis in relation to all classes of general insurance policies (motor, property, liability, marine etc).
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.
JDM Insurance Services Ltd offers advice and service on insurance claims.
JDM Insurance Services Ltd carries out insurance consultancy and project work for agreed fees.
Conflict of Interests
It is the policy of JDM Insurance Services Ltd 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 exists.
JDM Insurance Services Ltd will accept payments in cash, by cheque and by credit/debit card in respect of all classes of insurance in the circumstances permitted by law.
JDM Insurance Services Ltd 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 of Ireland legislation very strict rules apply in the payment of premiums to Insurance companies. We are unable 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.
Failure to Pay or Default
JDM Insurance Services Ltd reserves the right to instigate cancellation proceedings in the event of the following:
- your non-payment of the premium due at inception, renewal or following an alteration to your cover.
- 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.
JDM Insurance Services Ltd has a written procedure in place for the effective consideration and handling of complaints. Any complaints should be addressed in writing to the Chief Executive of JDM Insurance Services Ltd. Each complaint will be acknowledged by us within 5 working days of receipt, updates will be advised at 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/or you have the right to complain to the Financial Services Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.
Investor Compensation Company Ltd (ICCL) Scheme
JDM Insurance Services 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
As a member of the Irish Brokers Association (IBA), JDM Insurance Services 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.
JDM Insurance Services 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 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 from JDM Insurance Services Ltd, JDM Financial Services Ltd, Melrose Finance Ltd, and any of our associated group companies. If you do not wish to avail of this service, please let us know.
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 and Language
The laws of Ireland form the basis for establishing relations between you and JDM Insurance Services Ltd. All contracts, terms, conditions and communications relating to any policies you may enter with this firm will be in English.
Duty of disclosure
It is your responsibility to provide complete and accurate information for insurers when arranging an insurance policy, throughout the life of that policy, and when you are renewing it. It is important that you ensure that all information provided and all statements made on proposal forms, claim forms, and other documents are, to your knowledge and belief, complete and accurate. Failure to disclose any material information to your insurers could invalidate your insurance cover and could mean that all or part of a claim will not be paid.
Research / Market Security
JDM Insurance Services Ltd. use both local and international insurers / markets to obtain the best terms and conditions available. In selecting an Insurer, a wide variety of factors are taken into account including the financial statements of the insurer in question. We do not, and cannot, guarantee the financial security of any insurer. If you have any concerns about the security offered please contact us immediately.
It is essential that we are notified immediately of any claims or circumstances which could give rise to a claim. When you notify us, you must include all material facts concerning the claim. The policy wordings will describe in detail the procedures and conditions in connection with making a claim. It should be noted that there is no cover for defence costs incurred without Insurer’s prior consent.
JDM Insurance Services Ltd. shall issue a receipt for each non-negotiable or negotiable instrument or payment received. These are issued with your protection in mind and should be held safely.