Remuneration and Fees
Fair View Insurance Limited, trading as Fair View Insurance and PlusInsure.ie may be 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 for any alterations that take place during and at termination of the policy. 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. The range of commission payable varies depending on the class of business being placed. Some product producers do not pay any commission. A Compliance charge may apply and is detailed in the overall amount due. Our fees/charges will be communicated to you in advance of new business, renewal and mid-term alteration stage and will be clearly set out in our documentation issued to you. Services can be provided solely on a fee basis if the client so wishes, so that no commission will be taken from the premium charged by the product producer. All premiums are subject to a 5% Government Levy, where applicable.
Scale of Fees
Our Professional Fees are charged on the under noted Scale of Fees.
|Class of Business||Initial set up Fee / Renewal Fee.||Policy Amendment / Cancellation.||Duplicate documentation / Letter of named driving experience.|
|Personal Lines||Up to a maximum of €150||Up to a maximum of €150||Up to a maximum of €50|
|Commercial Insurance||Up to a maximum of 50% of the premium subject to minimum of €65.||Up to a maximum of 50% of the premium subject to minimum of €65.||Up to €50.|
Our Professional Fees for advice without placement of policy
|Director / Manager||Up to €200 per hour||Other Staff||Up to €75 per hour|
*The New business / renewal set up fee is non-refundable.
A fee of up to €75 may be charged for the provision of duplicate documentation.
Premium Finance Charges: Where premiums are financed by Insurers, Close Premium Finance, Premium Credit Finance or other finance lenders, details of interest rate and all charges will be separately provided in the credit agreement at inception. We may receive a commission from finance companies in respect of credit agreements up to 4% of the annual premium. Should there be a default of a direct debit payment, we will charge a fee for recovery of the defaulted payment of up to €25. In the event that the loan is to be reinstated following a default, a charge of up to €40 will be applied.
Direct Debit Administration Fee: An administration fee of €10 applies for the set-up of scheduled direct debit payments.
Supplementary Charges: Should a particular project or circumstance require us to charge any additional fees, they will be specifically advised in advance. The calculation of such charges will be based on various factors such as, though not limited to the complexity of matters under consideration, any commission payable (including none) by Insurers, time spent, qualification levels and numbers of personnel involved.
Please note that some insurance companies may collect our administration charge on our behalf for direct debit policies.
We reserve the right to amend these fees should the complexity of the product/service require a higher fee or in the event that the product/service provided is not remunerated by a product producer in the usual way. In such circumstances we will confirm and agree the fee with you at the time of providing the service. Details of all the remuneration, fees, commissions and arrangements listed above are available upon request.