O’Malley Griffin (Brokers) DAC Terms of Business

Our terms of business set out the basis on which O’Malley-Griffin (Brokers) DAC will provide business services to you as a client of the firm. They also contain details of our regulatory and statutory obligations and the respective duties of both the firm and you in relation to such services.

Authorised Status

O’Malley-Griffin (Brokers) DAC (established 1928) is regulated by the Central Bank of Ireland (C4340) as an Insurance Intermediary under the European Union (Insurance Distribution) Regulations, 2018. Copies of our Statements of Authorised Status 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. The firm is a member of Brokers Ireland, Broker Networks BrokerLine Direct (BLD) & Source.

Statutory Codes

O’Malley-Griffin (Brokers) DAC is subject to & complies with the Consumer Protection Code, Minimum Competency Code and the Fitness & Probity Standards as laid down by the Central Bank of Ireland. These codes can be found on the Central Bank’s website www.centralbank.ie.

Services Provided

We will offer advice on a fair and personal analysis basis in relation to all classes of insurance policies. This means we will search the market available to us; taking account of a sufficiently large number of contracts and product producers to enable us to make a professional recommendation to meet your insurance requirements for your particular needs and circumstances. We are authorised to provide the following service:

  • Offer advice in relation to all classes of non-life (motor, household, commercial property, liability, travel etc.) from only those product producers and other intermediaries with whom an appointment is held.
  • We will identify and select a suitable product producer(s) and on receipt of your instruction we will transmit orders on your behalf for a product(s) to one or more of the product producers and other intermediaries with whom an appointment is held, a list of product producers is available on request.
  • As a Credit Intermediary the firm can arrange premium finance.

We aim at all times to conduct our business with utmost good faith and integrity, delivering a wide range of insurance services including risk review, risk presentation, market research, insurance placement, insurance administration, loss and claims assistance, consultancy etc.

This firm does not have any tied relationships with any institution that would compromise our ability to offer you impartial advice and choice.

Premium Handling

O’Malley-Griffin (Brokers) DAC will accept payments in cash, by cheque, credit/debit card and fund transfer in respect of all classes of insurance in the circumstances permitted under Section 25G of the Investment Intermediaries Act, 1995. O’Malley-Griffin (Brokers) DAC is not authorised to accept cash or negotiable instruments in any other circumstances.

Premiums are due before renewal/inception date. Under the Financial Regulator 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, if agreed, otherwise immediately prior to cover incepting/renewing.

Conflict of Interests

It is the policy of our firm to avoid conflict of interest when providing services to you. However, where an unavoidable conflict may arise we will advise you of this before providing you with any service.

Cancellation / Cooling Off Period

You, the customer can cancel your policy by notice in writing at any time. Provided that all reasonable charges pertaining to costs incurred by O’Malley-Griffin (Brokers) DAC have been paid and provided that no incident giving rise to a claim has occurred in the current period of insurance, you will be entitled to a proportionate return of the premium for the un-expired period of insurance unless the policy is on a minimum and deposit basis. If this is the case, no return will be allowed on the policy and this will be noted on your policy schedule. If you cancel during the first year short term rates apply, please see policy terms and conditions. In the case of cancellation of motor insurance you must return the Certificate of Insurance and Windscreen Disc to O’Malley-Griffin (Brokers) DAC. Insurance companies normally reserve the right to cancel policies at any time by giving appropriate notice to your last known address. Please refer to your policy terms and conditions or enquire from a member of staff.

Complaints Procedure

Complaints should be directed verbally or by standard post or email (info@omalleygriffin.ie) to the Managing Director, O’Malley-Griffin (Brokers) DAC. Each complaint will be acknowledged by us within 5 working days of receipt, updates will be advised in intervals of not more than 20 working days. We will endeavour to resolve the complaint within 40 business days and findings will be furnished to you within 5 working days of completion of the investigation. In the event that you are not entirely satisfied with the firms handling of and response to your complaint, contact may be made with Brokers Ireland, 87 Merrion Sq, Dublin 2 and ultimately you have the right to complain to the Financial Services & Pensions Ombudsman (FSPO), Lincoln House, Lincoln Place, Dublin 2, D02 VH29. Phone: 01 5677000 or email: info@fspo.ie.

Our full Complaints Procedure is available on request.

Remuneration & Fees

O’Malley-Griffin (Brokers) DAC is remunerated by a professional fee reflecting the work activity, advice and time spent researching the most competitive terms, quality of product and Insurer for your specific insurance needs. The professional fee is charged for the research activity involved in the inception & renewal of the Policy along with claims and risk management advice as and when required. An additional fee may apply where subsequent alterations take place during and/or at termination of a Policy. We reserve the right to amend these fees should the complexity of the product require a higher fee. In the event of a higher fee being charged we will provide you with a breakdown. A scale of our fees is under noted.

In addition, commission is paid by some (not all) Insurers reflecting business arranged with that product producer – details of commission scales are available on request. We may also earn income by providing consultancy services to our clients, and by providing services to the suppliers we deal with on our clients’ behalf.

Initial Fee – up to but not exceeding Renewal – up to but not exceeding Alterations/Rebates – up to but not exceeding
Motor €100 €100 €100
House €100 €100 €100
Commercial Account 25% of Commercial account 25% of Commercial account 5%

In respect of premium finance arranged for you on your request, there is an override charge of up to 5%.

It is our policy not to make a charge to the client for any transaction resulting in a return of premium.

Failure to pay or default

We will exercise our legal rights to receive payments due to us from clients (fees and insurance premiums) for services provided. In particular, without limitation to 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.

Product producers may withdraw benefits or cover in the event of default on payments due under policies of insurance or other products arranged for you. We would refer you to policy documents or product terms for the details of such provisions.

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

  • non-payment of the premium due
  • your bank returns your cheque due to insufficient funds or any other reason
  • non disclosure of relevant information
  • Insurer imposed cancellation

Your insurer may cancel your policy in certain circumstances. These conditions are clearly outlined on all policy documents. When your policy ends or is cancelled, we will send you any documentation and information that you are entitled to on request.

Duty of disclosure

It is your responsibility to provide complete and accurate information for insurers when arranging an insurance policy, throughout the life of that policy, and when you are renewing it. It is important that you ensure that all information provided and all statements made on proposal forms, claim forms, and other documents are, to your knowledge and belief, complete and accurate. Failure to disclose any material information to your insurers could invalidate your insurance cover and could mean that all or part of a claim will not be paid.

Policy Alterations

Any temporary, permanent vehicle substitutions, temporary or permanent additional driver instructions can be taken form a Third Party purporting to act on your behalf.

All telephone calls to and from our office are recorded for training verification and regulatory purposes.


It is essential that we are notified immediately of any claims or circumstances which could give rise to a claim. When you notify us, you must include all material facts concerning the claim. The policy wordings will describe in detail the procedures and conditions in connection with making a claim. It should be noted that there is no cover for defence costs incurred without insurer’s prior consent.


We liaise with product producers to send our clients a formal policy document as soon as possible after inception of cover (unless one is not required or not to be issued) This document sets out the various terms, conditions, warranties and exclusions relating to the cover and should be read carefully and understood.

We recommend all confirmations of cover, policies and other documents be checked to ensure they are in accordance with your requirements. If they are not, or if any clarification of any aspect of the cover is required, we must be contacted immediately.

We recommend that clients retain all confirmations of cover and policy documents for as long as a claim is possible under the relevant insurance policies.

We are not authorised to issue Insurance Certificates, Road Traffic Act Discs and Driving Experience Letters unless the client makes payment of the premium.

Period of Insurance: Subject to cancellation, the period of insurance in respect of any policy will be the period specified as such in the Policy Schedule and/or Renewal Notice, and /or Certificate and Disc.

Research / Market Security

We use both local and international insurers/markets to obtain the best terms and conditions available. In selecting an insurer, a wide variety of factors are taken into account including the financial statements of the insurer in question. We do not, and cannot, guarantee the financial security of any insurer. If you have any concerns about the security offered please contact us immediately.

Data Protection

We are subject to the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018. The data which you provide to us will be held on a computer database and paper files for the purpose of arranging transactions on your behalf. The data will be processed only in ways compatible with the purposes for which it was given and as outlined in our Privacy Statement. You have the right at any time to request a copy of any “personal data” within the meaning of GDPR that our office holds about you and to have any inaccuracies in that information corrected. Please contact us at info@omalleygriffin.ie if you have any concerns about your personal data.

Investor Compensation

Investor Compensation Company DAC (ICCL) Scheme

O’Malley-Griffin (Brokers) DAC is a member of the Investor Compensation Company DAC (ICCL) Scheme established under the Investor Compensation Act, 1998. The legislation provided for the establishment of a compensation scheme and to the payment in certain circumstances, of compensation to certain clients of firms (known as eligible investors) covered by the Act. However, you should be aware that a right to compensation would only arise where client money or investment instruments held by this company 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 the Act. In the event that a right to compensation is established, the amount payable is the lesser of 90% of the client’s loss, which is recognised as being eligible for compensation, or €20,000.

Brokers Ireland Compensation Fund DAC

AS a member of Brokers Ireland, O’Malley-Griffin (Brokers) DAC is also a member of the Brokers Ireland Compensation Fund DAC. 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 Investor Compensation Scheme (established by law) has failed to adequately compensate any client of the member.

Governing Law and Language

The laws of Ireland form the basis for establishing relations between you and O’Malley-Griffin (Brokers) DAC. All contracts, terms, conditions and communications relating to any policies you may enter with this firm will be in English. Should a material change take place to these terms of business you will be notified of the change (s) as soon as possible.