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Terms of Business

Yachtsman Euromarine
First Floor, Abbey Moat House,
Abbey Street, Naas, Co Kildare Ireland
Phone:  +353 (0) 45 982668
Fax:  +353 (0) 45 902983
Email:  quote@yachtsman.ie
Web Site:  www.yachtsman.ie

Authorised Status

M.J.O’Neill (Insurances) Limited T/A Yachtsman  Euromarine, Yachtsman Marine Insurance, Yachtsman  Seguro de Barcos is authorised by the  Central Bank of Ireland under Section 10 of the Investment Intermediaries Act 1995, as amended. Our  firm is also registered as an insurance/reinsurance intermediary under the European Communities  (Insurance Mediation) Regulations, 2005 (as  amended). Copies of our authorisations are available  on request. M.J.O’Neill (Insurances) Limited t/a  Yachtsman Euromarine, Yachtsman Marine Insurance,  Yachtsman Seguro de Barcos is also registered with the National Consumer Agency to act  as a Credit Intermediary.

M.J.O’Neill (Insurance) Ltd t/a Yachtsman  Euromarine, Yachtsman Marine Insurance, Yachtsman  Seguro de Barcos is subject to and  complies with the Consumer Protection Code, The  Handbook of Prudential Requirements for Investment  Intermediaries, Minimum Competency Code and the Fitness & Probity Standards as laid down by the  Central Bank of Ireland.

We offer advice on Marine Insurance products on a  limited analysis basis, exclusive to Yachtsman  Euromarine, as underwriting agents for various underwriters at Lloyds of London and specialist  pleasure craft insurers. Insurers we consider include  MS Amlin Underwriting Ltd, Watkins Syndicate at  Lloyds, Navigator & General, Yachtline Marine  Insurance Solutions, and Aviva. Our service includes  advising you on your insurance needs, arranging your insurance cover and helping you with on-going  changes if required during the insurance year. As the  underwriting agents we also have authority to  investigate and settle claims on behalf of insurers.

Yachtsman Euromarine also offers the service of “Boat  Advisory Check” which can be carried out by request of  the client or by the request of insurers, if required to assess the condition of your vessel for the purposes  of Marine Insurance. The cost of this report is charged  separate to your insurance premium, as it is a service provided by Yachtsman Euromarine and is not  regulated by the Central Bank of Ireland.

As a Credit Intermediary the firm can arrange personal loans for the purpose of paying your insurance premium only.

Remuneration Policy

Yachtsman Euromarine is remunerated by a  commission from the insurer taking on the risk. This  can vary from 15% to 30% of the premium, depending on the class of business, details of which are available  on request. We may also receive additional payments  from insurers based on profit sharing or other  arrangements. On pleasure craft insurance we may  also apply an administration charge up to €40.00 on  new or renewal business and a midterm adjustment fee of €25.00. A fee a €20.00 will be charged for all  duplicate documentation. On Marine trade /  commercial policies an administration fee of €100.00  will be charged on new and renewal business and a  mid-term adjustment fee of €40.00. We reserve the  right to amend these fees should the complexity of the product require a higher fee. We will confirm this fee  with you prior to any increased charge being applied.  Commissions received are not offset against fees  chargeable.

Conflict of Interest and Complaints

It is the policy of Yachtsman Euromarine to avoid any  conflict of interest when providing business services to its  clients. However, where an unavoidable conflict may arise, we will advise you of this in writing before  providing any business service. If you have not been  advised of any such conflict you may assume that none arises.

Yachtsman Euromarine has a written procedure in  place for the effective consideration and handling of complaints. This procedure ensures that complaints  will be recorded and written complaints acknowledge in writing within 5 days. All complaints will be fully  investigated and the outcome of the investigation will  be communicated to the person who raised the  complaint. Further details regarding each insurer’s  complaints procedures are available in your policy  document.

Investor Compensation Company Ltd (ICCL) Scheme

Yachtsman Euromarine is a member of the Investor  Compensation Scheme Established under the Investor Compensation Act 1988. This legislation provides for  the establishment of a compensation scheme and to  the payment, in certain circumstances, of   compensation to clients of 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 this firm on your  behalf cannot be returned either for the time being or  the foreseeable future and where the client falls within the definition of eligible investor as contained in the  act. In the event that a right to compensation is  established, the amount payable is the lesser of 90 per  cent of your loss which is recognised as being eligible  for compensation or €20,000. In addition to the  compensation available under the “Investment  Compensation Act, 1988” Yachtsman Euromarine is  bonded through its membership of IBA for €200,000 with an inner limit of €65,000 per client.

Handling Clients’ Money

Yachtsman Euromarine will accept payment in cash,  cheque and debit / credit cards in respect of all classes  of insurance in the circumstances permitted under  Section 25G of the Investment Intermediaries Act,  1995. We are not authorised to accept cash or  negotiable instruments in any other circumstances.  Payments made by debit / credit / laser cards will be subject to an additional processing fee of €3.80. If you  choose to automatically renew your policy by selecting  the relevant tick box option, we may hold your  payment details, securely, on file and take payment at  the next renewal date. You can at any time prior to  renewal request that your details are removed.

Failure to pay or default

We reserve the right to instigate cancellation proceeding in the event of the following:

  1. Your non-payment of the premium due at inception, renewal or following a mid-term adjustment.
  2. Your bank returns your cheque or direct debt mandate due to insufficient funds or any other reason.
  3. Non disclosure of relevant information

If your policy is cancelled, we will send you documentation confirming the cancelation. We advise that you also read your policy document so you
understand the full terms and conditions set out by your insurer.

Receipts

Yachtsman Euromarine shall issue a receipt for each  non-negotiable or negotiable instrument or payment  received. This is required pursuant to Section 30 of the  Investment Intermediaries Act, 1995. These are issued  with your protection in mind and should be stored safely.

Claims

As the underwriting agent for the insurer of your policy  we also have authority to investigate / settle claims on  their behalf. We will provide a claims handling service for  as long as you are a client, and will provide you with  reasonable guidance in pursuing your claim. We will  handle claims fairly, promptly and keep you advised of development.

Data Protection

M.J.O’Neill (Insurance) Ltd t/a Yachtsman  Euromarine is a Data Controller as defined in the Data  Protection Act of 25th of May 2018. We collect your personal details in order to provide the highest  standard of service to you. We take great care with the  information provided; taking steps to keep it secure and to ensure that it is only used 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. You have the right at any time  to opt out of our marketing or request a copy of any  personal data within the meaning of the Data  Protection Act of 25th May 2018 (as amended or re-enacted from time to time) that our firm holds about  you and to have any inaccuracies in the information  corrected. Our client’s personal data is confidential  and available only to our firm, we do not pass on  clients details to any other firm unless instructed to do  so by our client


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