Insurance

TERMS OF BUSINESS
Effective from August 7, 2025

 

LHK Insurance Ltd. T/A LHK Insurance and LHK Group
Rosemount House, Dundrum Road, Co Dublin, D14 P924 Tel: 01 205 5600
Website: www.lhkgroup.ie Email : info@lhkgroup.ie

This document outlines the basis on which LHK Insurance Ltd. T/A LHK Insurance and LHK Group (“the Firm”) will
provide services to you as our client. It also details the regulatory and statutory obligations, as well as the respective
duties of both the Firm and you in connection with these services. For clarity, throughout this document, “LHK
Insurance”, “LHK Group”, “we”, “us”, “the Firm”, or “our” all refer to LHK Insurance Ltd. T/A LHK Insurance and LHK
Group and will be collectively referred to as “LHK Insurance”.
This is an important document – please read it carefully and if you have any questions, please contact us. In the
absence of an agreement to the contrary, this document sets out the terms of our relationship with you (our client)
for the provision of general insurance services. These Terms of Business supersede any Terms of Business that may
have been previously issued by the Firm. If any material changes are made to these terms, we will notify you, in
advance of this change.

Authorisation with the Central Bank of Ireland

Our Firm is authorised by the Central Bank of Ireland (C99882) as an insurance/reinsurance intermediary under the
European Union (Insurance Distribution) Regulations 2018. . The Firm is also regulated by the National Consumer
Agency as a Credit Intermediary.

Copies of our regulatory authorisations are available on request. The Central Bank of Ireland holds registers of
regulated firms. You may contact the Central Bank of Ireland on 1890 777 777 or alternatively visit their website at
www.centralbank.ie to verify our credentials.

Codes of Conduct

The Firm is subject to the following Codes of conduct issued by the Central Bank of Ireland. These Codes offer
protection to our clients and details of all the Codes can be found on the Central Bank website www.centralbank.ie:

• Consumer Protection Code
• Minimum Competency Code
• Fitness & Probity Standards

Services Provided

We commit to providing you with an excellent professional level of service. We believe in maintaining a relationship
based on mutual trust and respect. The Firm is a member of Brokers Ireland. Our principal business is to provide advice
and arrange transactions on behalf of clients in relation to general insurance products.

• We act as a professional broker which means that the principal regulated activities of the firm are provided on
the basis of a fair and personal analysis of the market.
• We will identify and select suitable product producers and on receipt of your instructions we will transmit
orders on your behalf to one or more product producers (a list of which is available on request).
• We will also offer assistance to you in relation to processing claims on policies taken out with our Firm. This
assistance is provided either directly by our staff and/or with the assistance of an appointed loss assessor, at
the expense of the policy holder.

This firm does not have a ‘tied’ relationship with any institution that would compromise our ability to offer you non-
biased advice and choice.

Insurance Intermediary Services

The concept of fair and personal analysis describes the extent of choice of products and providers offered by an
intermediary within the category of general insurance. The number of contracts and providers considered must be
sufficiently large to enable an intermediary to recommend a product that would be adequate to meet the needs
of a client.
The number of providers that constitutes “sufficiently large” will vary depending on the number of providers
operating in the market for a particular product or service and their relative importance in and their share of that
market. The extent of fair and personal analysis must be such that could be reasonably expected of a professional
conducting business, taking into account the accessibility of information and product placement to intermediaries
and the cost of the search. In order to ensure that the number of contracts and providers is sufficiently large to
constitute a fair and personal analysis of the market, we will consider the following criteria:
• the needs of the customer
• the size of the customer order
• the number of providers in the market who deal with brokers
• the market share of each of those providers
• the number of relevant products available from each provider
• the availability of information about the products
• the quality of the product and service provided by the provider cost, and
• any other relevant consideration.

Our Dealings with you

We request instructions in writing from our clients in order to avoid possible misunderstandings or disputes. Any advice
we give you will be in writing.

Regular Reviews

It is in your best interest that you review, on a regular basis, the products which we have arranged for you. As your
circumstances change, your needs will also change. You must advise us of any changes and request a review of the
relevant policy so that we can ensure that you are provided with up-to-date advice and a product best suited to your
needs. Failure to contact us in relation to changes in your circumstances or failure to request a review may result in
you having insufficient insurance cover and/or inappropriate products.

Conflicts of Interest

It is the policy of the Firm to avoid any conflict of interest when providing business services to our clients. However,
when an unavoidable conflict arises, you will be advised of this before any business service is provided. If you have not
been advised of any such conflict you are entitled to assume that none exists.

Credit Finance

If you require credit terms, we may be able to arrange premium finance on your behalf with a number of credit
providers (a list of which is available on request).

Premium Handling and Receipts

When receiving and transmitting orders in relation to insurance policies, The Firm will accept payments in cash, by
cheque and by credit/debit card. The Firm is not authorised to accept cash or negotiable instruments in any other
circumstances. A receipt in line with provision 3.5 of the Consumer Protection Code 2012 will be issued.

Premiums are due at inception or renewal date of a policy. Under the Central Bank of Ireland legislation very strict
rules apply in the payment of premiums to Insurance companies. We will not be able to pay premiums to insurers
which have not been received from clients. Therefore, to avoid policy cancellation, premiums must be paid strictly
within the credit terms, otherwise immediately prior to cover incepting.

Failure to Pay or Default

The Firm will exercise its legal rights to receive payments due to it from clients for business services provided. In
particular, without limitation of the generality of the foregoing, the firm will seek reimbursement for all payments
made to insurers on behalf of clients where the firm has acted in good faith in renewing a policy of insurance for the
client. Insurers and other product producers may withdraw benefits of cover in the event of default on payments due
under policies of insurance arranged for you. We would refer you to policy documents or product terms for the details
of such provisions.

Remuneration and Charges

The Firm is remunerated by commission and other payments from product producers or lenders on the completion of
business. A non-monetary benefit will only be accepted if it enhances the quality of the service to our clients.

Our client is given the option of paying for the advisory services in full by way of fee. They are also given the option of
paying for the advisory services by way of combination of fees and commissions and / or they may choose to offset
fees payable against commission received. We reserve the right to amend these fees should the complexity of the
product require a higher fee. We will confirm and agree this fee with you prior to any increased charge being applied.

Where our client has requested that we provide advisory services on a fee basis we will discuss, agree, and clearly
document the scope of work to be undertaken and the fees to be charged for this work. A summary of the details of
all arrangements for any fee, commission or other remuneration paid or provided to us, which we have agreed with
product providers, is available on our website – www.lhkgroup.ie.

On settlement of your account, we will forward you all documents showing ownership of your policy. The Firm will not
be in a position to release Motor Certificate, Disc and Policy Schedule until the premium is paid.

Schedule of Fees

Advisory Service Fees

Directors and Consultants up to €750/hour
Account Directors up to €500/hour
Account Executives/Support Staff up to €250/hour

Personal Lines (* % of premium)

New Business Fee up to 30%*
Renewals Fee up to 30%*
Mid-Term Alterations €20
Mid-Term Calculations €20
Mid-Term Duplicate Documentation €20

Commercial Lines (* % of premium)

New Business Fee up to 30%*
Renewals Fee up to 30%*
Mid-Term Alterations up to 30%*
Mid-Term Cancellations up to 30%*
Mid-Term Duplicate Documentation up to 30%*

Finance Premium Fee 1%

Please Note:

• We reserve the right to amend these fees should the complexity of the product necessitate a higher fee. Any
fee amendment will be notified to clients in advance.
• Personal Lines fees are subject to a minimum charge up to €150.
• Commercial Lines fees are subject to a minimum charge up to €250.
• Professional Fees are non-refundable in the event that a policy is cancelled.
• E Mail and/or written confirmation is required from the client prior to the deduction of fees from a return
premium.
• A full list of our fees and charges is available for review on our website and in our reception areas.

Clawback

If we receive commission from a product provider and use it to reduce your fee, but the provider later takes back
(claws back) that commission because of something you do—like cashing in early or transferring your assets—we will
charge you a fee equal to the amount taken back. This fee will become due as soon as the commission is clawed back.

Compensation Schemes/Client Protection

 

Investor Compensation Company Ltd (ICCL) Scheme

The Firm is a member of the Investor Compensation Scheme established under Section 38 of the Investor
Compensation Act 1998. The Act provides that compensation shall be paid to eligible investors (as defined in the Act)
to the extent of 90% of an investor’s net loss of €20,000, whichever is the lesser and is recognised as being eligible
for compensation.

Brokers Ireland Compensation Fund Ltd

As a member of Brokers Ireland, the Firm is also a member of the Brokers Ireland 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 adequately to compensate any client of the member. Further details
are available on request

Complaints Procedure

We have a written complaints procedure for the effective handling of all complaints. Such complaints can be referred
to the Head of Compliance of our Firm at the office address/phone number. The Head of Compliance will also be
your contact point in relation to the ongoing investigation of your complaint. We will acknowledge receipt of your
complaint in writing within 5 business days. A written update will be issued to you in intervals of not more than 20
business days. A comprehensive response to your complaint will be issued within 40 business days of receipt of your
initial complaint.
In the event of failure to resolve your complaint, you may raise the matter with The Financial Services and Pensions
Ombudsman (FSPO). The FSPO is an independent office whose remit is to investigate, mediate and adjudicate
unresolved complaints from customers about financial service providers.

Contact:

Financial Services and Pensions Ombudsman
Lincoln House
Lincoln Place
Dublin 2
D02 VH29
Tel 01-567 7000
Email:
Our full complaints procedure is available on request.

 

Data Protection

The Firm is subject to and complies with the requirements of the General Data Protection Regulation (GDPR) 2018
and the Irish Data Protection Act 2018. We are committed to protecting and respecting your privacy. We wish to be
transparent on how we process your data and show you that we are accountable with the GDPR requirements in
relation to not only processing your data but ensuring you understand your rights as a client.
The data will be processed only in ways compatible with the purposes for which it was given and as outlined in our
Privacy Statement; this will be given to all our clients at the time of data collection. We will ensure that this Privacy
Statement is easily accessible. Please refer to our website www.lhkgroup.ie . If this medium is not suitable, we will
ensure you can easily receive a copy by post. You have the right at any time to request a copy of any “personal
data” that our office holds about you and to have any inaccuracies in that information corrected.
At LHK Insurance, we take your data protection seriously and will only use your data as discussed with you in our
privacy statement. However, from time to time may wish to contact you in relation to specific products, offers,
services, and competitions we provide.
Please access the link below to update your marketing preference to ensure that we are aware of your agreed
methods of contact.
Please contact us at if you have any concerns about your personal data.
https://mailchi.mp/lhkgroup/marketing-consent

Consumer Insurance Contract Act 2019

Since the introduction of the Consumer Insurance Contract Act 2019—which aims to protect consumers—there is
important information you need to know about insurance policies starting after 1st September 2020. As a
consumer, you have certain obligations and duties to fulfil at different stages when arranging or renewing your
insurance policy.
Please read the following information very carefully and if you have any questions, please ask a member of our
team.

New Business and Renewal

If you have taken out a general insurance contract, and we have not met face to face during the process, you may
cancel the contract by giving notice in writing to us within 14 working days after the date you were informed the
contract is on cover. The giving of notice of cancellation by you will have the effect of releasing you from any further
obligation arising from the contract of insurance. This right to cancel does not apply where the duration of the contract
is less than one month. You are under a duty to pay your premium within a reasonable time, or otherwise in accordance
with the terms of the contract of insurance. A court of competent jurisdiction can reduce the pay-out to you if you are
in breach of your duties under the Act, in proportion to the breach involved.

Post-Contract Stage and Claims

If, in respect of the insurance contract the insurer is not obliged to pay the full claim settlement amount until any
repair, replacement or reinstatement work has been completed and specified documents for the work have been
furnished to the insurer, the claim settlement deferment amount cannot exceed;
• 5% of the claim settlement amount where the claim settlement amount is less than €40,000, or
• 10% of the claim settlement amount where the claim settlement amount is more than €40,000.
An insurer may refuse a claim made by you under a contract of insurance where there is a change in the risk insured,
including as described in an “alteration of risk” clause, and the circumstances have so changed that it has effectively
changed the risk to one which the insurer has not agreed to cover. Any clause in a contract of insurance that refers to
a “material change” will be interpreted as being a change that takes the risk outside what was in the reasonable
contemplation of both you and the insurer when the contract was concluded. You must cooperate with the insurer in
an investigation of insured events including responding to reasonable requests for information in an honest and
reasonably careful manner and must notify the insurer of the occurrence of an insured event in a reasonable time.
If you become aware after a claim is made of information that would either support or prejudice the claim, you are
under a duty to disclose it. (The insurer is under the same duty). When an insurer becomes aware that a consumer
has made a fraudulent claim, they may notify the consumer advising that they are voiding the contract of insurance,
and it will be treated as being terminated from the date of the submission of the fraudulent claim. The insurer may
refuse all liability in respect of any claim made after the date of the fraudulent act, and the insurer is under no
obligation to return any of the premiums paid under the contract.

Governing Law

The law of the Republic of Ireland will govern the provision of the services covered by this document, and the Irish
courts will have exclusive jurisdiction over any dispute.

Clients in Vulnerable Circumstances

The Firm is responsible for remaining alert to any personal circumstances or signs that might suggest you need extra
support, and our team will take appropriate action to ensure you receive the necessary assistance. You may also
choose to inform us If your financial, health, or other personal circumstances require additional support.

Disclosure of Information

Your duty of disclosure when completing documentation for new business/renewals and midterm adjustments.

Section 14 (1) – (5) of the Consumer Insurance Contracts Act which is effective from 1st September 2021 alters
consumers duty of disclosure:

You are required to answer all questions posed by us or the insurer honestly and with reasonable care – the test will
be that of the ‘average consumer.’ Average consumer as per Directive No. 2005/29/EC of the European Parliament
and of the Council of 11 May 2005 is reasonably well informed and reasonably observant and circumspect, taking into
account social, cultural, and linguistic factors.

Specific questions will be asked. Where you do not provide additional information (after being requested to do so) it
can be presumed that the information previously provided remains unchanged.

An insurer may repudiate liability or limit the amount paid on foot of the contract of insurance, only if it establishes
that non-disclosure of material information was an effective cause of the insurer entering into the relevant contract
of insurance and on the terms on which it did.

 

Completed proposal forms/statement of fact

Completed proposal forms or Statements of Facts will be provided to you. These are important documents as they
form the basis of insurance contract between the insurer and you the consumer. You should review and confirm that
the answers contained within are true and accurate.

Commercial Customers: Non-Consumer Disclosure of Information

It is essential that you should bring to our attention any material alteration in risk such as changes of address or use
of premises. Any failure to disclose material information may invalidate your claim and render your policy void. If you
are ever in doubt whether or not something needs to be disclosed, please discuss it with us.

Cooling Off Period

A consumer (as defined by SI No 853 of 2004) has the right to withdraw from an insurance policy (as defined under SI
No 853 of 2004) within 14 days of the start date of the policy (except in the case of travel policies, whose operative
period is for one month or less) without penalty and without giving any reason. This is known as the cooling off period.
The right of withdrawal may be exercised by notice in writing to LHK Insurance quoting your policy number provided
that no claim or adjustment has been made or is intended to be made or no incident has occurred which is likely to
give rise to a claim or for travel policies. Should this right be exercised the insurance company may charge for the
period you are on cover. For motor insurance the insurance certificate and disc must be received by LHK Insurance
before the policy can be cancelled. Please note that the policy set up charge is non-refundable if you choose to
withdraw from the policy within the cooling off period.

 

Claims

Your policy document will set out in detail what you should do in the circumstances of an accident or loss or event
occurring which may give rise to a claim, and it is important that you comply with these requirements. We will offer
your assistance in the processing of your claim, but you are free to appoint a Loss Assessor (at your expense) to act on
your behalf.

 

End of document