TERMS OF BUSINESS
Brian Mullins Insurance Brokers
1 & 2 John Street,
Sligo, F91 XN53
TERMS OF BUSINESS – EFFECTIVE DATE: 24th March 2026
BMIB Limited, trading as Brian Mullins Insurance Brokers, 1&2 John Street, Sligo, F91XN53
TEL: (071) 914 1030 EMAIL: info@bmib.ie WEB: www.bmib.ie
COMPANY REGISTRATION NUMBER: 430495
This document sets out the basis on which BMIB Limited, trading as Brian Mullins Insurance Brokers will provide business services to you as a client. It contains details of our regulatory and statutory obligations and the respective duties of both the firm and you in relation to such services. Please ensure that you read these terms thoroughly and if you have any queries, we will be happy to clarify them. If any material changes are made to these terms, we will notify you. Please note that by proceeding with your Brian Mullins Insurance Brokers quotation or policy you agree to the terms as laid out in this Terms of Business document. By agreeing to these Terms of Business you acknowledge that you have read and understand the information contained within your chosen quotation and/or policy. These Terms of Business set out the general terms under which our firm will provide business services to you and the respective duties and responsibilities of both the firm and you in relation to such services. Please ensure that you read these terms thoroughly and if you have any queries, we will be happy to clarify them. If any material changes are made to these terms, we will notify you.
Regulatory and Authorised Status
BMIB Limited, trading as Brian Mullins Insurance Brokers is regulated by the Central Bank of Ireland, registered as an insurance intermediary under the European Union (Insurance Distribution) Regulations, 2018. Our Central Bank Reference Number is C46536. The firm is also regulated by the Competition and Consumer Protection Commission as a Credit Intermediary, Authorisation Number A004736, and we can arrange premium finance for your insurance policies. As with all credit agreements, terms and conditions apply and we strongly advise that you read all documentation relating to such agreements before entering into same. 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 0818 681 681or alternatively visit their website at www.centralbank.ie to verify our credentials.
Our Services
BMIB Limited, trading as Brian Mullins Insurance Brokers 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. A full list of insurers with which we deal is available on request.
Codes of Conduct
The firm is subject to the Central Bank of Ireland’s Consumer Protection Code, Fitness and Probity Standards and the Minimum Competency Code. These codes are available for inspection on the Central Bank of Ireland’s Website www.centralbank.ie.
Compensation Schemes/Consumer Protection
Investor Compensation Company Ltd. (ICCL)
Brian Mullins Insurance Brokers is a member of the investor compensation scheme established under the
Investor Compensation Act, 1998 (“Act”). This legislation provides for the establishment of a
compensation scheme and to the payment in certain circumstances, of compensation to clients or firms
(known as eligible investors) covered by the Act. However, you should be aware that a right to
compensation will only arise where client money or investment instruments held by the firm on your behalf
cannot be returned either for the time being or in the foreseeable future, and where the client falls within
the definition of eligible investor as contained in the Act. A right to compensation will arise only: If the
client is an eligible investor as defined in the Act; and If it transpires that the firm is not in a position to
return client money or investment instruments owned or belonging to the clients of the firm; and To the
extent that the client’s loss is recognised for the purposes of the Act. Where an entitlement to
compensation is established, the compensation payable will be the lesser of: 90% of the amount of the
client’s loss which is recognised for the purposes of the Investor Compensation Act, 1998; or
Compensation of up to €20,000. For further information, contact the Investor Compensation Company Ltd.
at (01) 224 4955
Brokers Ireland Compensation Fund
We are also members of the Brokers Ireland Compensation Fund. Subject to the rules of the scheme the
liabilities of its members firms up to a maximum of €100,000 per client (or €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 has failed to adequately compensate any client of the member. Further
details are available on request.
Services Provided
We will offer broad based advice on a fair and personal analysis of available markets in relation to non-life insurance policies which will enable us to make a recommendation in accordance with accepted professional criteria. We will identify and select a suitable product producer and on receipt of your instructions we will transmit orders on your behalf to one or more insurers or product producers (a list of which is available on request). In some cases we may be granted authority from an insurance undertaking to conduct tasks on their behalf, for which we will be remunerated. Where we place your business with this insurance undertaking under this authority you will be notified in advance of the placement. We will also offer assistance to you in relation to processing claims on policies taken out with us and in seeking renewal terms on your cover. We do not have any “tied” relationships with any institution that would compromise our ability to offer you fair advice and choice. We do not guarantee nor make representations in regard to, and expressly disclaim responsibility for, the financial condition of insurers or product producers with which we place insurance. We will not indemnify clients in respect of the failure of any insurer or product producer. Full policy terms and conditions are contained in your policy document, a duplicate of which is available at any time on request. Do not assume cover is in effect until such cover is explicitly confirmed by Brian Mullins Insurance Brokers.
Fair and Personal Analysis
The concept of fair and personal analysis describes the extent of the choice of products and providers
offered by an intermediary within a particular category of life assurance, general insurance, mortgages,
and/ or a specialist area. 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 a client’s needs.
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 share of that
market. The extent of fair analysis must be such that could reasonably be 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 that 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.
Premium Finance
As a Credit Intermediary the firm can arrange premium finance on your behalf. Please ensure that you read, understand and adhere to the terms of any premium finance agreement. We accept no responsibility for any refusal by a premium finance provider to offer credit or for the consequences of defaults or delayed payments Please be aware that your lender will be sharing information with the Central Credit Register. The Central Bank of Ireland established the Central Credit Register which is a new centralised system for collecting personal and credit information on loans of €500 or above. This information may be used by other lenders when making decisions on your credit applications and credit agreements. If you require any additional information, please visit www.centralcreditregister.ie where it aims to answer consumer questions. Details of commission payments we may receive from the finance provider are available on request.
Instructions for Policy Amendments
Please note that where an instruction is transmitted to amend your policy via phone message, text, e-mail or fax, changes in cover are only operable provided they have been confirmed by Brian Mullins Insurance Brokers.
New Business & Renewal
A consumer may cancel a contract of insurance, by giving notice in writing to the insurer, within 14 days after the date the consumer was informed that the contract is concluded. The insurer cannot impose any costs on the consumer other than the cost of the premium for the period of cover. This does not affect the notice periods already provided under European Union (Insurance and Reinsurance) Regulations 2015 ( S.I. No. 485 of 2015) or the European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004 (S.I. No. 853 of 2004) which is 14 days in respect of general policies and only on sales that took place on a non-face to face basis (distance sales). The consumer is under a duty to pay their 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 the consumer where they are in breach of their duties under the Act, in proportion to the breach involved. 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 days after the date you were informed the contract is on cover. If you have taken out a general insurance contract, and we have met face to face during the process, you may cancel the contract by giving notice in writing to the insurer 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. The insurer cannot impose any costs on you other than the cost of the premium for the period of cover. This right to cancel does not apply where, in respect of life insurance the contract is for a duration of six months or less, or in respect of general insurance, the duration of the contract is less than one month.
Optional Insurance Products or Additional Insurance Products
At the inception of a new policy or on a subsequent renewal we may offer you various optional insurance products or services such as legal protection or personal accident. Such optional covers or benefits will be clearly indicated to you as such and the cost will be shown separately on our documentation. If you wish to avail of these optional extras; covers or benefits please inform us or remit the appropriate premium. You do not have to purchase the optional products in order to purchase the insurance product.
Money Laundering
Brian Mullins Insurance Brokers reserves the right to request additional information that may be required in order to comply with the Anti-Money Laundering requirements of the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021.
Regular Reviews
It is in your best interests that you review, on a regular basis, the products which we have arranged for you. As your circumstances change, your needs will change which may result in you having insufficient insurance cover and/or inappropriate investments. We would therefore advise that you contact us to ensure that you are provided with up-to-date advice and products best suited to your needs.
Your 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’. Before renewal of the contract of insurance, specific questions will be asked. Again, you will be required to answer honestly and with reasonable care. Where you do not provide additional information (after being requested to do so) it can be presumed that the information previously provided remains unchanged. Where you do not provide additional information (after being requested to do so) it can be presumed that the information previously provided remains unchanged. Failure to answer all questions honestly and with reasonable care can result in the Insurer being able to rely on proportionate remedies for misrepresentation, which include but are not limited to the insurer voiding the contract of insurance. If a policy is cancelled by an insurer for any reason including payment default you may encounter difficulty in purchasing insurance in the future. 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. If you have any doubts as to whether any information is material it should be disclosed.
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.
Claims
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 wording 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 the insurer’s prior consent. The firm may recommend
professional Loss Assessors to handle Property Insurance claims and, if such a Loss Assessor is appointed
by the client, the client is responsible for the payment of the Loss Assessor’s fees. The firm may receive a
referral fee when the recommended Loss Assessor handles the claim. 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 a consumer 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 the contracting parties when the
contract was concluded. The consumer 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. The
consumer must notify the insurer of a claim within a reasonable time, or otherwise in accordance with the
terms of the contract of insurance. If the consumer becomes aware after a claim is made of information
that would either support or prejudice the claim, they are under a duty to disclose it. (The insurer is under
the same duty). If the consumer makes a false or misleading claim in any material respect (and knows it to
be false or misleading or consciously disregards whether it is) the insurer is entitled to refuse to pay and to
terminate the contract. Where an insurer becomes aware that a consumer has made a fraudulent claim,
they must notify the consumer advising that they are avoiding the contract of insurance. 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.
Cancellation
You, the customer, can cancel your policy by notice in writing at any time. Provided that all reasonable charges pertaining to costs incurred by Brian Mullins Insurance Brokers have been paid and provided that no incident giving rise to a claim or incident that might give rise to a claim has occurred in the current period of insurance, you may be entitled to a partial 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 may apply and/or Insurers may charge a cancellation fee, please refer to policy terms and conditions. In the case of Motor Insurance, you are required to return the Certificate of Insurance and Windscreen Disc to Brian Mullins Insurance Brokers. 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.
Failure to Pay or Default
We reserve the right to cancel your policy in certain circumstances, for example, non-payment of premiums; bank returns your cheque due to insufficient funds or any other reason; direct debit default or misrepresentation/non-disclosure of relevant information. When your policy ends or is cancelled, we will provide you with any documentation and information you are entitled to on request. An administration fee may be charged to cover expenses in the event of a failure to pay or default.
Complaints
Upon receipt of an oral complaint, we will provide the option to have the complaint addressed through the firms established complaints procedure. This firm has a written procedure in place for the effective consideration and handling of complaints. We will permit and facilitate submission of complaints in writing by post and by electronic means. Each complaint will be recorded and acknowledged in writing within 5 working days of receipt, updates will be advised in intervals of not more than 20 days and we will endeavour to resolve a 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, you have the right to refer your complaint to the Financial Services and Pensions Ombudsman (FSPO), 3rd Floor Lincoln House, Lincoln Place, Dublin 2, D02 VH29. Lo Call 1890 88 20 90. A full copy of our complaint’s procedure is available on the firm’s website and on request.
Conflicts of Interest
It is the policy of our firm to avoid conflicts of interest in providing services to you. However, where an unavoidable conflict of interest arises we will advise you of this in writing before providing you with any service. Brian Mullins is responsible for managing potential conflicts of interest. A full copy of our conflicts of interest policy is available on request. In some cases, we may be a party to a profit-share arrangement with product producers. Agreements to this effect are in place with the following: Allianz, Aviva, Axa, RSA and Zurich. Any business arranged with these providers on your behalf is placed with them as they are at the time of placement the most suitable to meet your requirements taking all relevant information, demands and needs into account. In some cases, we may be a party to a profit-share arrangement with product producers where we provide extra services for the provider. Agreements to this effect are in place with the following: Aviva, Zurich, Axa and Pen Underwriting. Any business arranged with these providers on your behalf is placed with them as they are at the time of placement the most suitable to meet your requirements taking all relevant information, demands and needs into account.
Data Protection
Brian Mullins Insurance Brokers complies with 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 Data Privacy Notice and Data Protection Policy. We would also like to keep you informed of insurance, investment and any other services provided by us or associated companies with which we have a formal business arrangement; which we think may be of interest to you. We would like to contact you by way of letter, email or telephone call. If you would like to receive such marketing information please complete the permission statements contained in the Terms of Business acknowledgement letter attached. We may receive referrals from such firms and may advise them of any transactions arranged for you. You have the right at any time to request a copy of any ‘personal data’ (within the meaning of the GDPR) that our office holds about you and to have any inaccuracies in that information corrected. Please contact us at info@bhdi.ie if you have any concerns about your personal data. We will ensure that this Privacy Notice is easily accessible. Please refer to our website (https://bmib.ie/). If this medium is not suitable, we will ensure you can easily receive a copy by hard copy, or telephonic environment (pre-recorded).
CCTV, Call and Voice Recording
Brian Mullins Insurance Brokers may record telephone calls, inbound and outbound, for regulatory, quality, training and verification purposes. CCTV recording facilities are also in place in our offices. These facilities are in place for security, quality, training and verification purposes. All data captured by these facilities are managed in accordance with the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018.
Governing Law and Language
The laws of Ireland form the basis for establishing relations between you and Brian Mullins Insurance Brokers. All contracts, terms, conditions and communications relating to any policies or services you may enter into with the firm will be in English.
Quotations
All quotations are valid for 7 days unless otherwise stated and all quotations and cover are subject to acceptance by the insurer concerned.
Cooling Off Period
A consumer has the right to withdraw from an insurance contract (as defined under SI No 853 of 2004) within 14 days of the start date of the contract (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 Brian Mullins Insurance Brokers 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 Certificate of Insurance and Windscreen Disc must be received by Brian Mullins Insurance Brokers 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.
Handling Clients’ Money/Receipts
Brian Mullins Insurance Brokers will accept payments by cash, cheque, electronic funds transfer, debit and credit card in respect of all classes of insurance in the circumstances permitted. We cannot accept cash or negotiable instruments in any other circumstances. For certain Insurance Products, we may request that all payments are made payable to the provider of the product in question. A receipt will be issued for all payments received and should be retained by you in a safe place. Under the Central Bank’s Consumer Protection Code strict rules apply in relation to payment of premiums to product producers. We will not be able to pay premiums to product producers for a client where the premiums have not been received by the firm. Therefore, to avoid policy cancellation, premiums must be paid strictly within credit terms. Clients must pay at inception of a contract or on or before renewal date or as invoiced in the case of mid-term alterations. Insurance companies may cancel cover where a client fails to meet their obligations in relation to payment terms and conditions.
Clawback
If we receive commission from a product provider [and off-set the commission against the fee which we would otherwise have charged you] but the commission is subsequently clawed-back by the provider because of early encashment by you or because of the transferring of the assets or business to another provider or in any circumstances consequent on your actions or omissions, we will charge a fee to you that is equal to [100% of] the clawed-back commission. That fee will be owing in simple contract upon the claw back of the commission.
Remuneration and Fees
Ongoing Remuneration
We wish to inform you that we receive ongoing remuneration from Product Providers in respect of the
financial service provided to you. This remuneration is based on [briefly describe the basis, e.g., a
percentage of the value of your investment, annual premiums, etc.] and is intended to cover the ongoing
service that we provide to you in relation to this product.
The nature of the service for which this remuneration is payable includes [briefly describe the service, e.g.,
regular reviews of your product, updates on performance, and continued access to our advice].
General Insurance
Brian Mullins Insurance Brokers may be remunerated by a professional fee for the initial work activity and
time spent in seeking the best terms, advice, product and product producer for your specific needs. An
administration fee is also charged for the activity involved in the renewal of the policy and also for any
alterations that take place during and at termination of the policy. We may earn our remuneration on the
basis of fee, commission and any other type of remuneration, including a nonmonetary benefit or on the
basis of a combination of these methods. A non-monetary benefit will only be accepted if it enhances the
quality of the service to our clients. Where an override commission is received, this will be disclosed to you
in general terms. The range of commission payable varies depending on the class of business being placed.
Some product producers do not pay any commission. Our fees/charges will be communicated to you in
advance of new business, renewal and mid-term alteration stage and will be clearly set out in our
documentation issued to you. Services can be provided solely on a fee basis if the client so wishes, so that
no commission will be taken from the premium charged by the product producer. Where you choose to pay
in full for our service by fee, we will notify you in writing in advance and agree the scale of fees to be
charged if different from fees outlined below. Where it is not possible to provide the exact amount, we will
provide you the method of calculation of the fee. All premiums are subject to a 4% Government Levy,
where applicable.
Scale of Fees
| Class of Business | Initial Fee | Renewal Fee | Policy Alterations / Cancellation Fee |
| Private Motor and Light
Commercial Vehicles | Up to a maximum of €500 | Up to a maximum of €500 | Up to a maximum of €500 |
| Household, Travel, Caravan, Boat and all other Personal Lines Insurance | Up to a maximum of €500 | Up to a maximum of €500 | Up to a maximum of €500 |
| Commercial Insurance | Up to a maximum of 100% of the premium | Up to a maximum of 100% of the premium | Up to a maximum of €5,000 |
A fee of up to €75 may be charged for the provision of duplicate documentation.
Brian Mullins Insurance Brokers enjoys volume and profitability arrangements with some product producers that enable the firm to offer preferential rates for some classes of business.
Premium Finance Charges
Where premiums are financed by Premium Credit Finance, details of interest rate and all charges will
be separately provided in the credit agreement at inception. We may receive a commission from the
finance company in respect of credit agreements up to 5% of the annual premium. Should there be a
default of a payment, we will charge a fee for recovery of the defaulted payment of up to €25. In the
event that the loan is to be reinstated following a default, a charge of up to €40 will be applied.
Direct Debit Administration Fee
An administration fee of €10 applies for the set-up of scheduled direct debit payments.
Supplementary Charges
Should a particular project or circumstance require us to charge any additional fees, they will be
specifically advised in advance. The calculation of such charges will be based on various factors such as,
though not limited to the complexity of matters under consideration, any commission payable (including
none) by Insurers, time spent, qualification levels and numbers of personnel involved. Please note that
some insurance companies may collect our administration charge on our behalf for direct debit policies.
We reserve the right to amend these fees should the complexity of the product/service require a higher fee
or in the event that the product/service provided is not remunerated by a product producer in the usual
way. In such circumstances we will confirm and agree the fee with you at the time of providing the service.
A summary of the details of all arrangements for any fee, commission other reward or remuneration paid or
provided to us which have been agreed with product providers is available in our office or on our website
https://bmib.ie/