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Company Information

SSD Insurances Ltd T/A Sheridan Colohan Insurance Brokers (the company) carries on business at Rialto House Fitzwilliam Square, Wicklow. The Company is regulated to undertake insurance mediation under the European Communities (Insurance Mediation) Regulations, 2005 by the Financial Regulator. SSD Insurances Ltd T/A Sheridan Colohan Insurance Brokers is not registered for VAT purposes.

Description of Services Provided

Sheridan Colohan Insurance Brokers processes Life Assurance Products & General Insurance business on your behalf with insurers which are authorised by the Financial Regulator. We also offer advice in relation to the nature of the product and its suitability to your needs.

Remuneration

In the case of Life Assurance, the Company may receive commission and other payments from the product producer to whom orders are transmitted. Summary details of these payments will be included in a product information document, which you are legally entitled to receive before an application for a product is completed, and full details will be included with your cooling-off letter. In certain circumstances the firm may charge you a fee for the services provided.

In the case of General and Commercial Insurance, Sheridan Colohan is remunerated by both commission and fees. Fees are charged on a time spent and disbursements basis. A maximum fee of 25% of the related premium for all classes of business except motor and household insurance is normally charged. A placement charge of between €45 and €65 for Private and Commercial Motor Insurance and €30 for Household insurance applies. Where a higher premium is charged this will be noted on your invoice. These charges cover various expenses including sourcing of product, administration costs, risk management advise, claims handling assistance and general advice. These charges also partially cover the high cost of regulation namely: funding the office of the Financial Regulator, funding the office of the Financial Services Ombudsman and payments to the Investor Compensation Fund maintained by the investor Compensation Company Limited, detailed under Compensation Scheme below. There is a minimum alteration charge of €20 per transaction for mid term alterations, however we will not charge you for premium adjustments less that €10, nor will we refund you any premium amounts of less than €10.. Please note that Sheridan Colohan incurs significant costs in processing premium rebates for clients and that this service is subject to a minimum administration charge of €15. Sheridan Colohan reserves the right to offset premium rebates due to the client against any sums outstanding from that client to Sheridan Colohan.

Conflict of Interest

It is the company’s Policy to avoid conflicts of interest when providing business services. When such conflicts arise we shall advise you in writing. If you have not been advised of such conflicts you may assume that none arise.

Payment Default or Cancellation

Sheridan Colohan collects premiums for onward transmission to Insurers. In the event that such premiums are not paid, insurers are entitled to cancel cover. Under Financial Regulator regulations, Sheridan Colohan should not pay Insurers premium, which have not as yet been paid to us.

You (the customer) can cancel your policy at any time by requesting it in writing to us. The policy will be cancelled on the date we receive your cancellation instructions and in the case of motor insurance the relevant certificate of motor insurance and insurance disk is returned to our office. A return premium may be due to you. Please refer to your policy wording for further details regarding the cancellation of the policy.

Your Duty to Disclose

It is your responsibility as a client to provide us with complete and accurate information for Insurers when you take out your insurance policy through this Office, throughout the life of that policy and when you renew the policy. It is important that you ensure all statements made on proposal forms, claim forms and other documents are to your knowledge and belief full and accurate.

Period of Insurance

Subject to cancellation, the period of insurance in respect of any policy held will be the period specified by the Insurance Company as such in the Policy Schedule and/or Renewal Notice. Complaints Procedure Any complaint should be notified in writing to Eamonn Sheridan, marking the letter for his personal attention

• We will acknowledge receipt of your complaint in writing within 5 working days
• A written up date will be issued to you every 20 days by a nominated individual within our firm
• A comprehensive response to your complaint will be issued within 8 weeks of receipt of your initial complaint
• In the event of any failure to resolve your complaint you may raise this matter with the Financial Services Ombudsman Bureau Lo-Call 1890 88 20 90 enquires@financialombudsman.ie
• Our full complaints procedure is available on request

Compensation Scheme

Sheridan Colohan Insurance Brokers is a member of the Investor Compensation Company Ltd (ICCL) scheme. The maximum level of compensation payable is €20,000 or 90% of the net loss as certified by the administrator. In addition to the compensation available under the Investor Compensation Act 1998 the company also avails of Professional Indemnity Insurance cover. As a member of the Irish Brokers Association (IBA), Sheridan Colohan 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.

Cooling-off period

As a consumer you have the right to withdraw from any General Insurance policy within 14 days of inception of cover, or the date which you receive your Policy Schedule, without penalty and without any reason. The right of withdrawal may be exercised by notice in writing to us quoting your policy number. The insurance company will charge a pro-rata premium for the period you are on cover. In the case of Life Assurance you are given a 30 day period to consider if you want to change your mind. During this time, if you decide you don’t want to go ahead with the policy you can cancel it by notifying us in writing.

Data Protection

We collect your personal details in order to provide the highest standard of service to you. 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.

We take great care with the information provided: taking steps to keep it secure and to ensure it is used only 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.

Governing Law & Language

The laws of Ireland form the basis for establishing relations between you and Sheridan Colohan. All contracts, terms, conditions and communications relating to any policies you may enter into with this company shall be in English.

Contact us     Sheridan Colohan, Rialto House, Fitzwilliam Square, Wicklow Tel: (0404) 68455 Fax: (0404) 68557