SCHEDULE OF FEES AND CHARGES
We are remunerated by commission paid by insurers and premium finance providers and/or broker fees paid by you. A Summary of Commissions document which details all arrangements for any fee, commission, other reward or remuneration paid to us by insurers and premium finance providers is available on our website and in our office. The amount of any commission received by us from insurers and premium finance providers will not be deducted from any broker fee payable by you.
We will charge you a fixed fee or a percentage of the insurance premium and Government levies as follows:
- Personal Insurance Arrangement/Renewal: up to a max of 30% subject to a minimum of €40.
- Commercial Insurance: up to a max of 55% subject to a minimum of €100.
- Mid-Term Alterations:
– Personal Insurance Policies: €35
– Commercial Policies under €5,000: €60
– Commercial Policies over €5,000: €110 - Advice without placement of a contract is chargeable on a time disbursements basis:
– Directors & Senior Personnel – €450 per hour
– Account Executives/Consultants – €250 per hour.
A processing fee of €50 will apply to any policy that is taken out with us and subsequently cancelled or not taken up because the information given to us was incorrect. Fees can vary depending on several factors including the complexity of the case and our time involvement. All fees will be notified to you in advance.
We may also charge you other fees in place of, or in addition to, the commission we earn from insurers. We will advise you of any such fees in writing before you take out the policy.
Additionally, we also receive remuneration in certain circumstances, where permitted by local regulation:
- Some insurers may make additional payments to us for work we undertake on their behalf.
- Brown & Brown Europe may receive a payment from certain insurers based on meeting agreed criteria across the Brown & Brown Europe group of companies. We may receive a proportion of any such payment.
- Brown & Brown Europe may sometimes be paid Fees for Services. This is a payment made by an insurer in return for the provision of services
over and above those covered by the commission paid. - Brown & Brown Europe may sometimes be paid Insurance Service Brokerage (ISB). This is a payment made by an insurer in return for the provision of services to support the development and administration of the insurer’s insurance business where no commission is paid.
- Where you purchase non-insurance products from us, we may earn a fee from the supplier which is usually a percentage of the purchase price.
- Where you agree to utilise the services of a third party provider (e.g. replacement vehicle), we may earn a fee from that provider.
You can ask us at any time for full details of the income earned by us for handling your insurance arrangements.