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Fees & Charges

Remuneration and Fees
North County Brokers Ltd 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 commissions so therefore we charge an appropriate fee to reflect this.

 

Scale of Fees

 

  Initial fee

  Renewal

  Policy Alterations/Cancellation  

 Motor

  Up to a max of €100

  Up to a max of €100

  Up to a max of €40

 House

  Up to a max of €60

  Up to a max of €60

  Up to a max of €40

 Commercial      

  Up to a max of 30% of     
  premium

  Up to a max of 30% of     
  premium

  Up to a max of 30% of 
  premium

 

 Card / Merchant Charges when paying by Credit Card or Business Debit/Maestro Cards

 

 Credit Cards/Business Debit or Maestro Cards @ 2.25%  

 

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 €20 will be charged for all duplicate documentation.

 

Fees
For professional advice in connection with the placement of business we charge an hourly rate of €350 for Directors and senior account handlers. The rate for support staff is charged at €95. In facilitating client‟s premium finance we may charge for this service up to maximum of 3 % of the loan in addition to the rates charged by the finance company.

 

Fees & Return Premiums
In the event of a cancellation or return premium we may charge a fee on the activity which results in the return premium provided. If the cover is motor insurance the premium cannot be refunded until the Certificate of Insurance and Windscreen Disc have been received by North County Brokers Ltd.

Where a premium rebate is due to a consumer & the value of the rebate is €10 or less, we must issue the premium rebate to the consumer within 5 business days of the rebate becoming due or alternatively we can offer the choice of:

 a) Receiving the premium rebate or

 b) Receiving a reduction from a renewal premium or other premium currently due or

 c) Making a donation of the rebate amount to a registered charity

In respect of options (b) & (c) above we must seek the clients consent on each occasion and must maintain a record of the clients decision.

Where a premium rebate is due to a consumer and the value of the rebate is more than €10, we must issue the premium rebate to the consumer within 5 business days of the rebate becoming due.