Terms of Business

Lothwood Ltd t/a Michael Martin Life and General Insurance Broker

3 Fairview Terrace, Garden Vale, Athlone, Westmeath

PHONE:0872471687. MAIL: This email address is being protected from spambots. You need JavaScript enabled to view it. WEB: www.mmartininsurance.ie

TERMS OF BUSINESS

IMPORTANT NOTICE

Please note that by proceeding with your policy with Lothwood Ltd t/a Michael Martin Life and General Insurance Broker you are agreeing to the terms as laid out in this Terms of business Document.

ABOUT US

Lothwood Ltd t/a Michael Martin Life and General Insurance Broker (hereinafter referred to as Lothwood Ltd) is an insurance broker and a Mortgage intermediary and is regulated by the Central Bank of Ireland.

We arrange cover and provide broad based advice on a fair analysis of the market depending on the product type and/or the market available to us. We provide a mortgage service on limited analysis basis. We receive and transmit orders on your behalf on life insurance policies. We will identify and select a suitable product producer on receipt of your instructions and will transmit orders to the product producer. Lothwood Ltd. does not have any ‘Tied’ relationships with any institution that would compromise our ability to offer you impartial advice and choice. Lothwood Ltd is a member of the Irish Brokers Association (IBA). We comply with the Consumer Protection code as set out by the Central Bank of Ireland, details of which can be found on www.centralbank.ie. Copies of our various authorizations are available on request.

SERVICES

Life Assurance, Mortgage Protection, Serious Illness Cover, Cancer Cover, Income Protection, Health Insurance, Pension Planning, Regular Savings Plans, Lump Sum Investments.

INVESTOR COMPENSATION COMPANY LTD. (ICCL)

Lothwood Ltd is a member of the investor compensation scheme established under the Investor Compensation act 1998. This legislation provides for establishment of a compensation scheme and to payment, in certain circumstances, of compensation to clients or firms covered by the act. However, you should be aware that a right to compensation will only arise where money or investment instruments held by Lothwood Ltd on your behalf cannot be returned either for the time being or for the foreseeable future and where the clients falls within the definition of eligible investors as contained in that act. In the event that a right of compensation is established, the amount payable is the lesser of 90% of your loss, which is recognised as being eligible for compensation, or €20,000. In addition to the compensation available under the ‘investor compensation act 1998’, the firm is bonded through its membership of the IBA for up to a maximum of €100,000 per client or €250,000 in aggregate

DISCLOSURE OF INFORMATION

Any failure to disclose any relevant information to Lothwood Ltd either when making the application or subsequently, may render your insurance cover void.

Quotations

All quotes are indicative only. The actual premium can only be confirmed upon receipt of a completed proposal statement of fact and relevant supporting documentation as requested

Statutory Codes: The Firm is subject to and complies with the Consumer Protection Code and the fitness and probity standards as laid down by the Central Bank

REMUNERATION POLICY

Lothwood Ltd is remunerated by both commission and fees. You do have the option to pay for our services in full by means of a fee. We reserve the right to charge this fee in respect of any mid-term alteration to your policy.  We further reserve the right to charge a higher fee on occasion depending on the policy type, complexity and time expended. If you select to deal with us on a fee basis our fees are as follows: €300.00 per hour. Additional fees may be charged for complex cases involving specialist skills. If we receive commission from the product producer this will be offset against the fee which we will charge you.

A schedule of our fees and commissions are available on request and are displayed in our office and our website www.mmartininsurance.ie

DATA PROTECTION

We collect your personal details in order to provide the highest standards of service to you. We take great care with the information provided; taking steps to keep it secure and ensure it is used only for legitimate purposes. To fulfill 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. You have the right at any time to request a copy of any ’personal data’ within the meaning of the Data Protection Act 1998 (as amended or re-enacted thereafter) that our office holds about you and to have any inaccuracies in the information corrected.

DEFAULTS BY THE CONSUMER

Failure to make premium payments in a timely manner may result in the lapse or cancellation of your policy. Where payment is made via an instalment plan please ensure that you have read the terms and conditions of the instalment agreement. Most installment plans run on a rollover basis. Failure to maintain the agreed repayments schedule may result in cancellation of your insurance premium. Your insurer may also cancel your policy in certain circumstances. .These conditions are clearly outlined in your policy document

RECEIPTS

The firm will accept payments in cash, credit card/laser, credit transfer and by cheque in respect of all classes of insurance in the circumstances permitted under section 25G of the ‘Investment Intermediaries Act 1995’. A receipt will be issued for each payment received. This is required pursuant to section 30 of the ‘Investment Intermediaries Act 1995’.Under Central Bank legislation strict rules apply in the payment of premium to Insurance companies. We will not be able to pay premiums to Insurers which have not been received from clients

CONFLICTS OF INTEREST

Lothwood Ltd wishes to avoid any conflict of interest when providing products and services to its clients. Sometimes however an unavoidable conflict may arise. If such conflict arises, we will write to you outlining the nature of the conflict.

REGULAR REVIEWS

It is in your best interest to review on a regular basis all products which we have arranged for you. As your circumstances change your needs also change. You should contact us upon such changes and we will review your policy requirements. We will ensure that your policies are best suited to your up to date circumstances. We will review other policies which you may hold and advise accordingly as part of your overall package

COMPLAINTS

Lothwood Ltd will acknowledge all written complaints within 5 business days of receipt. Any complaints should be addressed to the office manager or managing director. Updates will be issued in writing in intervals not greater than 20 business days. The complaint will be fully investigated and we will try to resolve all complaints within 40 business days. We will furnish you with our findings within 5 business days of completing the investigation. If satisfaction is not reached thereafter regarding the complaint, contact may be made with any of the following:-

Effective date: 01/04/2014 and apply until further notice.