Our Company

ERM Financial Services is an independent Brokerage with no 'tied' relationship with any institutions that would compromise our ability to offer you independent advice and choice.

Authorised Status

ERM Financial Services is regulated by the Central Bank of Ireland as an Authorised Advisor. A copy of our Statement of Authorised Status is attached. ERM Financial Services is a member of the

• Irish Broker Association (IBA)
• Professional Insurance Brokers Association (PIBA)

Service Offerings

ERM Financial Services is authorised to provide the following Services….

• Independent broad-based advice in relation to Life Assurance Policies, Serious Illness and other Protection Policies, Pensions, Savings, Investments and Mortgages.
• Independent broad-based advice in relation to non-life Insurance Policies including Motor, Property, Liability, Marine etc.
• Receive and transmit orders on your behalf for a product(s) to one or more of the Product Producers listed in the attached Schedule.
  

Remuneration Policy

ERM Financial Services may apply an administration charge per hour and pro-rata for the provision of broad-based advice regarding Life, Protection, Investments, Pensions and non-life Insurance Policies such as Motor, Property Liability and Marine. Our current basic hourly rate is €275 for Directors and Consultants and €125 for Support Staff. In determining the rate and any additional charges, factors such as specialist skills, complexity, value, risk and urgency will be taken into account. For once off consultations a fee of up to €1000 may be charged. We charge a €32 brokerage fee on motor new business and renewals and any changes made during the policy year including cancellations.

If we arrange cover for you with a Product Producer with whom we hold an agency appointment our charges for certain products may be offset against commission payable by the Product Producer. If the commission payable is higher than the charge the balance will be retained by the Company. If the charge is higher than the commission the balance is payable by the Client to the Company.

Conflict of Interest

It is the policy of ERM Financial Services to avoid any conflict of interest when providing business services to you. 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.

Complaints

ERM Financial Services 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 acknowledged in writing within 14 days. All complaints will be fully investigated and the outcome of the investigation will be communicated to the person who raised the complaint.

In the event that you remain dissatisfied with our handling of and/or response to your complaint you may wish to refer the complaint to either the Central Bank of Ireland, P.O. Box 559, Dame Street, Dublin 2 or the Irish Brokers Association, 87 Merrion Square, Dublin 2.

Consumer Protection

Investor Compensation Company Ltd (ICCL)

ERM Financial Services is a member of the investor compensation scheme established under the Investor Compensation Act, 1998. 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 us on your behalf cannot be returned either for the time being or for the foreseeable future and where the client falls within the definition of eligible investor as contained in that 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.

We are also bonded through membership of IBA for €200,000 with an inner limit of €65,000 per client.

Handling Clients' Money

ERM Financial Services may only accept money in respect of a premium from clients in circumstances where Section 25G(1) of the Investment Intermediaries Act 1995 applies, i.e. where the money represents premiums in respect of either a renewal of a policy which has been invited by an Insurance undertaking, or a proposal accepted by an insurance undertaking.

Where the Client fails to pay

All Insurances are arranged by us on the express condition that, pending receipt of the full premium from you, within the agreed credit terms, we reserve the right, notwithstanding delivery of policies or receipts to you, to cancel the policies, obtain a refund from the Insurers and apply same in the reduction of the amount due from you.

Receipts

ERM Financial Services shall issue a receipt for each non-negotiable instrument or other payment received. This is required pursuant to Section 30 of the Investment Intermediaries Act, 1995 and should be retained by you.
These Terms of Business are effective from November 2001 until further notice.

Current Schedule of Product Producers with whom
ERM Financial Services hold Agencies