Our Remuneration
We, B.M.I.B. Ltd act as intermediary (Broker) between you, the consumer, and the product provider with whom we place your business.
The Background
Pursuant to provision 32 of the Revised Consumer Protection Code 2025 (formally CP116 requirement), all intermediaries, must make available in their public offices, or on their website if they have one, a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the intermediary which it has agreed with its product producers.
What is Remuneration?
Remuneration is the payment earned by the intermediary for work undertaken on behalf of both the provider and the consumer. The amount of remuneration is generally directly related to the value of the products sold.
What is Commission?
Commission is payment that may be earned by an intermediary for work undertaken for both provider and consumer.
There are different types of remuneration and different commission models:
Single commission model: where payment is made to the intermediary shortly after the sale is completed and is based on a percentage of the premium paid/amount invested/amount borrowed.
Trail/Renewal commission model: Further payments at intervals are paid throughout the life span of the product.
Indemnity Commission:
Indemnity commission is the term used to describe a commission payment made before the commission is deemed to be ‘earned’. Indemnity commission may be subject to a clawback (see below) if the consumer lapses or cancels the product before the commission is deemed to be earned.
Other forms of indemnity commission are advances of commission for future sales granted to intermediaries in order to assist with set up costs or business development.
General Insurance Products
General insurance products, such as motor, home, travel, health, retail or liability insurance, are typically subject to a single or standard commission model, based on the amount of premium charged for the insurance product.
Profit Share Arrangements
In some cases, the intermediary may be a party to a profit-share arrangement with a product provider and will earn additional commission. Any business arranged with these product providers on a client’s behalf will be placed with the product provider because that product provider is at the time of placement, the most suitable to meet the client’s requirements, taking all the client’s relevant information, demands and needs into account.
Investments
Investment firms, which fall within the scope of the European Communities (Markets in Financial Instruments) Regulations 2007 (the MiFID Regulations), offer both standard commission and commission models involving initial and trail commission. Increments may be based on a percentage of the investment management fees, or on the value of the fund.
Credit Products/Mortgages
Commission may be earned by intermediaries for arranging credit for consumers, such as mortgages. The single, or standard, commission model is the most common commission model applied to the sale of mortgage products by mortgage credit intermediaries (Mortgage Broker).
Clawback
Clawback is an obligation on the intermediary to repay unearned commission. Commission can be paid directly after a contract is concluded but is not deemed to be ‘earned’ until after a specified period of time. If the consumer cancels or withdraws from the financial product within the specified time, the intermediary must return commission to the product producer.
Fees
The firm may also be remunerated by fee by the product producer such as policy fee, admin fee, or in the case of investment firms, advisory fees.
Please Note
The enclosed commission guidance section gives indicative values across every product provider and every product advised whereby a commission or fee is received within our business. This is the maximum our Brokerage will take and is subject to change, in certain cases our Brokerage may take a different remuneration than the enclosed percentages/amounts. This will be disclosed to each client as per the Central Bank Consumer Protection Code regulations, on a client by client basis.
Other Fees, Administrative Costs/ Non-Monetary Benefits
The firm may also be in receipt of other fees, administrative costs, or non-monetary benefits such as:
Attendance at product provider seminars
Assistance with Advertising/Branding
Further detail on the providers we work with, the products we sell and the maximum commissions available to us are outlined below.
AIG Europe SA, Ireland LTD
| Accident & Health | 25% |
| Commercial Combined | 20% |
| Commercial Liability | 22.5% |
| Commercial Motor | 10% |
| Commercial Property | 20% |
| Financial Lines | 20% |
| Marine | 20% |
| Miscellaneous | 10% |
| Personal Motor | 10% |
| Personal Property | 20% |
| Surety; Credit; Guarantee & Miscellaneous Financial Loss | 0% |
Allianz P.I.C
| Accident & Health | 20% |
| Aviation | 15% |
| Cargo | 20% |
| Commercial Combined | 25% |
| Commercial Liability | 30% |
| Commercial Motor | 15% |
| Commercial Property | 25% |
| Engineering | 30% |
| Financial Lines | 22.5% |
| Legal Expenses | 15% |
| Marine | 19% |
| Miscellaneous | 15% |
| Personal Motor | 15% |
| Personal Property | 20% |
| Surety; Credit; Guarantee & Miscellaneous Financial Loss | 15% |
Altea
| Malpractice | 15% |
| Treatment Risk | 15% |
Ambris Align
| Public Liability | 15% |
| Property Owners Liability | 15% |
| EL/PL | 15% |
Arachas, Capital IM
| Public Liability | 20% |
| Property Owners Liability | 20% |
| Personal Accident | 20% |
| Salon | 20% |
| Shop | 20% |
| Commercial Combined | 20% |
| Shop Combined | 20% |
| EL/PL/PRODS | 20% |
| Combined Liability | 20% |
| C.A.R Annual | 20% |
| Professional Indmenity | 20% |
| Motor Fleet | 20% |
ARB Underwriting Ltd.
| Accident & Health | 20% |
| Commercial Combined | 15% |
| Commercial Liability | 10% |
| Commercial Motor | 5% |
| Commercial Property | 15% |
| Financial Lines | 20% |
| Marine | 5% |
| Personal Motor | 5% |
| Personal Property | 15% |
Asgard Motor Polices @ Lloyds
| Accident & Health | 25% |
| Commercial Combined | 21.5% |
| Commercial Liability | 20% |
| Commercial Property | 30% |
| Financial Lines | 27.5% |
| Marine | 10% |
| Personal Motor | 5% |
| Personal Property | 10% |
Aviva Insurance Ireland DAC
| Accident & Health | 25% |
| Cargo | 18.78% |
| Commercial Combined | 27.5% |
| Commercial Liability | 27.5% |
| Commercial Motor | 18.78% |
| Commercial Property | 27.5% |
| Engineering | 15% |
| Farm | 15% |
| Financial Lines | 20% |
| Insurance Service Brokerage | 3.5% |
| Marine | 18.78% |
| Miscellaneous | 15% |
| Personal Motor | 13% |
| Personal Property | 20% |
| Surety; Credit; Guarantee & Miscellaneous Financial Loss | 27.5% |
AXA Insurance DAC
| Commercial Combined | 32% |
| Commercial Liability | 32% |
| Commercial Motor | 14.5% |
| Commercial Property | 25% |
| Farm | 19.5% |
| Personal Motor | 10% |
| Personal Property | 27% |
AXIS Specialty Europe SE
| Commercial Combined | 17.5% |
| Commercial Liability | 17.5% |
| Commercial Property | 17.5% |
Benchmark Underwriting Ltd
| Accident & Health | 25% |
| Commercial Combined | 25% |
| Commercial Liability | 25% |
| Commercial Motor | 10% |
| Commercial Property | 25% |
| Engineering | 25% |
| Financial Lines | 20% |
| Personal Property | 20% |
Campion Insurances Limited
| Commercial Combined | 15% |
| Commercial Liability | 15% |
| Special Types | 10% |
Catalpa Underwriting Limited
| Commercial Liability | 10% |
Citynet Through Optis
| Combined Liability | 10% |
| Employers Liability | 7.5% |
| Public Liability | 12.5% |
| Commercial Combined | 10% |
| Property Damage | 12.5% |
Cover Centre Insurance Ltd.
| Home and Contents Insurance | 15% |
| Commercial Motor | 10% |
Dolmen Insurance Brokers Ltd
| Commercial Combined | 15% |
| Commercial Liability | 12.5% |
| Commercial Property | 15% |
| Miscellaneous | 0% |
| Personal Motor | 15% |
| Personal Property | 15% |
Dual Underwriting Ireland DAC
| Commercial Combined | 22.5% |
| Commercial Motor | 10% |
| Financial Lines | 20% |
| Personal Motor | 10% |
| Personal Property | 20% |
Howden Insurance (Ireland) Ltd trading as Roberston Low
| Marine | 15% |
| Commercial Combined | 10% |
| Commercial Liability | 8% |
| Commercial Motor | 5% |
| Financial Lines | 10% |
| Personal Motor | 5% |
| Personal Property | 15% |
| Professional Indemnity | 10% |
| Liability | 10% |
| Home and Contents Insurance | 10% |
| Commercial | 10% |
Intact Insurance
| Cargo | 25% |
| Commercial Combined | 25% |
| Commercial Liability | 25% |
| Commercial Property | 25% |
| Engineering | 25% |
| Financial Lines | 17.5% |
| Marine | 25% |
| Commercial Motor | 5% |
| Personal Motor | 10% |
| Personal Property | 25% |
| Home and Contents Insurance | 15% |
Irish Engineering Services
| EL/PL | 15% |
Ivernia Insurance Ltd
| Personal Property | 18% |
| Personal Motor | 8% |
Joseph G Brady Insurance Ltd Trading as Brady Underwriting
| Travel Insurance | 15% |
| Professional Indemnity | 10% |
| Personal Motor | 15% |
| Commercial Liability | 15% |
| Home and Contents Insurance | 15% |
| Commercial Combined | 10% |
KBIS Limited
| Personal Accident Insurance | 10% |
| Commercial Liability | 10% |
| Personal Property | 10% |
| Commercial Combined | 10% |
KennCo Underwriting Ltd
| Accident & Health | 15% |
| Commercial Combined | 15% |
| Commercial Liability | 15% |
| Commercial Motor | 15% |
| Commercial Property | 15% |
| Financial Lines | 15% |
| Personal Motor | 12% |
| Personal Property | 20% |
Marsh Ireland Brokers Limited
| Commercial Combined | 10% |
| Public Liability | 10% |
NBS Ireland
| Commercial Combined | 20% |
| Commercial Liability | 15% |
| Financial Lines | 20% |
NFP Commercial Insurance Solutions (Ireland) Limited
| Commercial Combined | 15% |
| Commercial Liability | 15% |
| Commercial Property | 15% |
| Financial Lines | 10% |
| Personal Motor | 5% |
| Surety; Credit; Guarantee & Miscellaneous Financial Loss | 0% |
| Personal Property | 15% |
Optis Insurances Limited
| Accident & Health | 15% |
| Cargo | 20% |
| Commercial Combined | 15% |
| Commercial Liability | 15% |
| Commercial Property | 20% |
| Financial Lines | 20% |
| Personal Motor | 10% |
| Personal Property | 15% |
| Surety; Credit; Guarantee & Miscellaneous Financial Loss | 5% |
Ornella Underwriting Limited
| Commercial Combined | 10% |
| Commercial Liability | 10% |
| Commercial Motor | 10% |
| Commercial Property | 10% |
| Engineering | 15% |
| Farm | 7.5% |
| Personal Motor | 10% |
| Personal Property | 15% |
Pen Underwriting Ltd
| Cargo | 17% |
| Commercial Combined | 15% |
| Commercial Liability | 15% |
| Commercial Motor | 10% |
| Commercial Property | 8% |
| Engineering | 15% |
| Marine | 17% |
| Personal Motor | 8% |
| Personal Property | 17.5% |
Prestige Underwriting Services Limited
| Commercial Liability | 12% |
| Commercial Motor | 10% |
| Commercial Property | 15% |
| Financial Lines | 15% |
| Personal Motor | 5% |
| Personal Property | 17.5% |
RedClick and Generali
| Commercial Combined | 15% |
| Commercial Liability | 15% |
| Commercial Property | 20% |
| Financial Lines | 20% |
Rokstone Insurance Europe Ltd t,as ISURE
| Commercial Combined | 17.5% |
| Commercial Liability | 16% |
| Commercial Property | 19% |
| Financial Lines | 20% |
Securus Insurance Limited
| Commercial Liability | 10% |
| Commercial Property | 15% |
| Financial Lines | 10% |
| Miscellaneous | 10% |
| Personal Property | 15% |
Specialist Underwriting Services Ltd.
| Travel – Business | 10% |
| Travel – Individual | 10% |
| Personal Accident | 10% |
| Personal Accident / Illness | 10% |
| Combined Liability | 12.5% |
| Chip Safe | 15% |
| Gourmet Safe | 15% |
| Property Owners | 15% |
| Shop Safe | 15% |
Thomond Underwriting Limited
| Commercial Combined | 15% |
| Commercial Liability | 15% |
| Commercial Property | 15% |
| Financial Lines | 15% |
| Personal Property | 12.5% |
Willis Towers Watson Insurances (IRL) Limited
| Accident & Health | 7.5% |
| Commercial Combined | 18% |
| Commercial Liability | 18% |
| Commercial Motor | 12.5% |
| Commercial Property | 20.5% |
| Financial Lines | 5% |
| Miscellaneous | 20% |
| Personal Motor | 5% |
Worldwide Insurance Brokers & Advisors Limited t/a Broker Options
| Commercial Combined | 15% |
| Commercial Liability | 15% |
| Personal Property | 20% |
Yachtsman Euromarine
| Commercial Combined | 10% |
| Commercial Liability | 10% |
| Marine | 10% |
| Personal Motor | 5% |
| Personal Property | 15% |
Zurich Insurance Europe AG
| Accident & Health | 15% |
| Cargo | 17.5% |
| Commercial Combined | 20% |
| Commercial Liability | 22.5% |
| Commercial Motor | 15% |
| Commercial Property | 20% |
| Engineering | 15% |
| Farm | 15% |
| Financial Lines | 20% |
| Legal Expenses | 25% |
| Marine | 17.5% |
| Miscellaneous | 10% |
| Personal Motor | 10% |
| Personal Property | 32.5% |
| Surety; Credit; Guarantee & Miscellaneous Financial Loss | 15% |