TERMS OF BUSINESS
17/01/2023
Our Terms of Business set out the terms under which CUIS Financial Services DAC t/a Peopl will provide business services to you. Please ensure that you read through this document carefully. If you require further clarification regarding any matter, we will be happy to deal with your queries. These terms shall apply to any service provided to you by Peopl and will remain in force until further notice. They also contain details of our regulatory and statutory obligations and the respective duties of both Peopl and you in relation to such services. Please note that by proceeding with your Peopl quotation or policy you agree to the terms as laid out in this Terms of Business document. By accepting these Terms of Business, you acknowledge that you have read and understand them; and you have read and understand the information contained within your chosen quotation and/or policy, which is also contractually binding on you.
Regulatory & Authorised Status
CUIS Financial Services DAC t/a Peopl, 511 The Capel Building, Mary’s Abbey, Dublin 7, Tel: 01 5533580 Email: insurance@nullpeopl.ie, Web site: www.peopl.ie. Peopl is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Union (Insurance Distribution) Regulations, 2018, registration number C182485. A copy of our regulatory authorisation is 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.
Peopl is subject to and must comply with the Central Bank of Ireland’s Consumer Protection Code, Minimum Competency Code and Fitness and Probity Standards which offer protection to consumers. The codes are available for inspection on the Central Bank of Ireland’s web site www.centralbank.ie.
The Products and Services we offer
We sell General Insurance products on a limited analysis of the market basis. This means we only supply products and services on behalf of the product providers/underwriters listed below, with whom we have written agreements in place.
|
Provider/Underwriter |
Product/Service |
| MAPFRE Assistance | Travel Insurance
Home Emergency Assistance |
| Irish Life | Life Insurance |
| Royal London | Life Insurance
Income Protection |
| AIG Insurance | Home Insurance
Cancer Care Plan |
| RSA Insurance | Home Insurance
Motor Insurance |
| Liberty Insurance | Home Insurance
Motor Insurance |
| AXA Insurance DAC | Motor Insurance |
| Zurich Insurance Ireland | Motor Insurance |
| ARAG | Legal Assistance Cover |
Review Periods
We advise that you review, on a regular basis, all products which have been arranged by us. Any change in your circumstances may result in changes to your needs which may result in you having insufficient insurance cover in place. We therefore advise that you contact us to ensure that you are provided with up-to-date advice and products best suited.
Remuneration
We provide general insurance on a fair and personal analysis basis (providing services based on a sufficiently large number of contracts and product producers available in the market to enable the firm to make a recommendation, in accordance with professional criteria, regarding which contract would be adequate to meet your needs).
Schedule of Fees (Non-Life Insurance Policies)
| Transaction | Charges |
| Policy Set Up | Up to €100 |
| Renewal | Up to €100 |
| Mid-term Adjustment | Up to €50 |
| Cancellation | Up to €50 |
| Unpaid Instalment | Up to €20 |
| Premium payment plan service fee | Up to 10% of total amount payable. |
| *Maximum APR is 19% |
*Premium Payment Plan Service Fee applies if you choose to pay your insurance premium by monthly instalments. If you make an alteration to your policy and this results in an increase/decrease in premium, the Premium Payment Plan Service Fee will increase/reduce in line with this with this adjustment. The remaining instalments will increase/decrease depending on the change.
Statement Of Commission
| HOME INSURANCE | |
| Product Type | Home Insurance |
| Provider Name | RSA Insurance Ireland DAC |
| Commission Received | 20% of Gross Written Premium |
| Product Type | Home Insurance |
| Provider Name | AIG Europe S.A. |
| Commission Received | 21% of Gross Written Premium |
| Product Type | Home Insurance |
| Provider Name | Liberty Seguros Compañía de Seguros Y Reaseguros, S.A |
| Commission Received | 20% of Gross Written Premium |
| TRAVEL INSURANCE | |
| Product Type | Single Trip Travel Insurance |
| Provider Name | Mapfre Assistance Agency Ireland |
| Commission Received | 30% of Gross Written Premium |
| Product Type | Annual Multi Trip Travel Insurance |
| Provider Name | Mapfre Assistance Agency Ireland |
| Commission Received | 20% of Gross Written Premium |
| Product Type | Home Emergency Assistance Cover |
| Provider Name | Mapfre Assistance Agency Ireland |
| Commission Received | 20% of Gross Written Premium |
| Product Type | Family Legal Protection Cover |
| Provider Name | ARAG Legal Protection Limited |
| Commission Received | € 6.60 |
| LIFE INSURANCE | |
| Product Type | Term Life/Mortgage Protection/Serious Illness |
| Provider Name | Royal London Mutual Insurance Society Limited |
| Commission Received | A total maximum of 133% of the annual premium without indexation and 150% of the annual premium with indexation. |
| 3% of annual premium per annum following a 16 month earned period | |
| MOTOR INSURANCE | |
| Provider name | RSA Insurance Ireland DAC |
| Commission Received | 7.5% of Gross Written Premium |
| Provider name | Liberty Insurance |
| Commission Received | 10% of Gross Written Premium |
| Provider Name | ARB Underwriting |
| Commission Received | 5% of Gross Written Premium |
| Provider name | Zurich Insurance |
| Commission Received | 5% of Gross Written Premium |
| Provider name | AXA Insurance |
| Commission Received | 5% of Gross Written Premium |
| Provider name | Ornella Underwriting |
| Commission Received | 5% of Gross Written Premium |
| Provider name | Willis Tower Watson |
| Commission Received | 5-10% of Gross Written Premium |
| Provider Name | Kennco Insurance |
| Commission Received | 5-10% Of Gross Written Premium |
Default for Non- Payment
We reserve the right to instigate cancellation proceedings in the event of the following:
- Non-payment of the premium due at inception, renewal or following an alteration
- Your bank returns your payment due to insufficient funds or any other reason
- Provision of incorrect or inaccurate information
- Insurer imposed cancellation.
Non- payment of premium and in respect of policies financed through a credit agreement with premium finance companies, please note that your insurance company will begin cancellation procedures 10 days from when the second default date occurs. We reserve the right to exercise our legal rights to receive any payments due to us for business services provided.
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 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 Peopl quoting your policy number. The right to withdraw applies 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. Should this right be exercised the insurance company may charge for the period you are on cover. Please refer to your Policy Document for full details.
Cancellation
Either party may, at any time cancel the policy by providing written notice to the other in accordance with the terms and conditions as set out your Policy Document. Peopl may instruct your insurers to cancel your policy. If this happens, you will be issued with prior written notification to your last known address. Policies can be cancelled by insurers due to, but not limited to, non-payment, non-disclosure, provision of incorrect information over the phone and online or where the necessary documentation is not submitted within a required time frame. The cancellation charge will be deducted from any rebate due to you prior to being issued to you, in this event, it will be agreed in writing by you in each instance.
Return Premiums
Any rebate that becomes due to you, we will refund to you within 5 business days of receiving it or receipt of notification by the insurer that it is due to you. Any rebate due to you will be paid in full and any charges will not be deducted without prior agreement from you in each case.
Call Recordings/ Policy Amendments and Instructions
Our calls are recorded for training/verification/to assist in the complaint’s procedure and /or to help detect fraud and ensure accuracy of our consumer records. All data is stored and managed in keeping with Data Protection Acts. A copy can be made available upon request.
Any instruction which is transmitted to amend your policy via the following, phone message, text, email or fax must be confirmed by CUIS Financial Services DAC t/a Peopl. To avoid any doubt please note that leaving a voicemail on our answering service is not a confirmation that this has been confirmed or actioned on your policy. In terms of cancellation or lapsing of your policy we will only accept this from you the policyholder. Permission for other people to complete actions on your behalf on your policy must be given with your permission and fall under the criteria of a Husband/Wife/Civil Partner or your parent.
Premium Finance
We can facilitate premium finance for your personal insurance policy with Premium Credit Limited. Please note that this provider will carry out a credit assessment before offering any credit facility. The credit agreements come with terms and conditions that will apply to you. We are happy to clarify any questions you may have regarding these. We strongly advise that you read all the documentation relating to such agreements before entering it and these are a few points in relation to these agreements. Funds must be available in your chosen account at least one day before the instalment date to avoid a default. Cancellation proceedings will commence on the date of the second default and your policy will be cancelled 10 days from this date.
Complaints
A full copy of our complaint’s procedure is available on request.
Should you not be satisfied at any time with the service you receive from Peopl, please do not hesitate to make the fact known to us. We have an internal complaints procedure and will deal with your complaint promptly, thoroughly and in line with regulatory standards.
Complaints should be addressed to:
Compliance Manager, Peopl, 511 The Capel Buildings, Marys Abbey, Dublin 7
We will acknowledge your complaint in writing within 5 business days of receipt and will provide an update on the progress at regular intervals of not greater than 20 business days. We endeavour to resolve all complaints within 40 business days however if we have not resolved your complaint within 40 business days, we will inform you of the anticipated timeframe within which we hope to have your complaint resolved. If you are dissatisfied with the handling/outcome of your complaint, you may refer same to the Financial Service and Pensions Ombudsman (FSPO). Lincoln House, Lincoln Place, Dublin 2, D02
t: 01 567 7000. e: info@nullfspo.ie Website: www.fspo.ie.
Conflict of Interest
Peopl seeks to avoid conflict of interest when providing services to our customers. Should an unavoidable conflict of interest arise then we will advise you of the details in writing. Where pertinent, we will request your confirmation in writing to proceed where a conflict has been identified.
Professional Indemnity Insurance
Peopl also holds Professional Indemnity Insurance in accordance with the Central Bank of Ireland requirements.
Data Protection
Peopl complies with the requirements of the General Data Protection Regulation (EU) 2016/679 (“GDPR”) and the Data Protection Acts 1988-2018. Peopl is committed to protecting and respecting your privacy. The data will be processed only in ways compatible with the purposes for which it was given. These are outlined in the Privacy Policy Statement which is available for review online at www.peopl.ie. We will ensure the Privacy Policy Statement is easily accessible through our website. If this medium is not suitable for you we will ensure you can easily receive a hard copy, please contact us to request a copy. Please contact us at insurance@nullpeopl.ie if you have any concerns about your personal data.
You have a right to request a copy of your personal information which is held by us. For more details write to:
The Data Protection Owner, Peopl, 511 The Capel Buildings, Marys Abbey, Dublin 7
https://www.peopl.ie/privacy-statement/
Handling Clients’ Money
Peopl will accept payments by credit/debit card in respect of all non-Life classes of insurance. Peopl is not authorised to accept negotiable instruments in any other circumstances. Premiums are due on or before renewal date or inception date of the policy or before any policy changes which result in an additional charge. It is your responsibility to ensure that your payment has reached us and that your policy has been incepted/renewed/amended. If we do not receive your renewal payment on or before your renewal date, your policy will lapse, and no cover will be in place. Where payment is made to Peopl by credit or debit card, any subsequent refund due may be refunded to the card used to make the initial payment.
Quotations
All quotations are valid for 30 days. All quotations and cover are issued subject to acceptance by the insurer. A full copy of the insurers’ policy wording, terms and conditions is available upon request. Please note full disclosure of all relevant fact, and all questions posed by the insurer must be answered accurately and with honesty. This is relevant throughout the life of the policy as well as at renewal stage. Furthermore, you must inform us of any changes in circumstances which may affect the services we provide, and the cover provided by the insurance company. You are responsible for providing complete and accurate information in connection with any proposal for cover. Failure to disclose all relevant information or misrepresenting any fact which may influence the decision to accept the risk or the terms offered could result in your policy being cancelled, claims not being paid, difficulty in getting insurance elsewhere and in the case of property insurance failure to have property insurance in place could lead to a breach of the terms and conditions attaching to any loan secured on the property. Quotations sought through the Peopl website may be provided based on certain assumptions. Payment for a quotation sought through the Peopl website does not automatically constitute evidence of cover, unless written confirmation has been issued to you from Peopl. Otherwise, you will be contacted by phone following receipt of your payment to reconfirm your details and have your policy arranged. Cover does not come into force until it has been confirmed to you by Peopl. The terms of your chosen policy shall take precedence over any statement, representation, act or omission which may have been made by Peopl and which conflicts with any terms of your chosen policy. You must check all details on any statement of facts and pay particular attention to any declaration you are asked to sign. It is important that you read all documents issued to you and ensure that you are aware of the cover, limits, warranties, conditions, and other terms that apply. Failure to disclose all relevant information could result in your policy being cancelled, claims not being paid and difficulty in getting insurance elsewhere.
Money Laundering
Peopl reserves the right to request any facts about you which it reasonably believes it needs to know in order to comply with the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 – 2021
Variation
Peopl reserves the right to amend these Terms of Business at any time, but such amendments shall not affect any rights or obligations already accrued by you or Peopl. Any such revision to these Terms of Business will be notified to you by publication on our website. You will be provided with an up-to-date copy of the Terms of Business at the time of entering into or renewing your policy with CUIS Financial Services DAC t/a Peopl.
Termination
Either of us may terminate this Agreement by written notice at any time but such amendments shall not affect any rights or obligations already accrued by you or People. Any such revision to these Terms of Business will be notified to you by publication on our website. You will be provided with an up-to-date copy of the Terms of Business at the time of entering into or renewing your policy with Peopl.
Written Communications
We will contact you by email or provide you with information by posting notices on our website. Should you request communications by post, please let us know.
Force Majeure
We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations that is caused by events outside our reasonable control including any act, event, non-happening, omission or accident beyond our reasonable control. Our performance under these Terms of Business is deemed to be suspended for the period that such event continues, and we will have an extension of time for performance for the duration of that period.
Waiver
If we fail to insist upon strict performance of any of your obligations under these Terms of Business, or if we fail to exercise any of the rights or remedies to which we are entitled under these Terms of Business, this shall not constitute a waiver of such rights or remedies and shall not relieve you from compliance with such obligations. A waiver by us of any default shall not constitute a waiver of any subsequent default. No waiver by us of any of the terms of this Agreement shall be effective unless it is expressly stated to be a waiver and is communicated to you in writing by our authorised personnel.
Severability
If any of the terms of these Terms of Business are determined by any competent authority to be invalid, unlawful, or unenforceable to any extent, such term, condition or provision will to that extent be severed from the remaining terms, conditions and provisions which will continue to be valid to the fullest extent permitted by law.
Entire Agreement
These Terms of Business and any document expressly referred to in it constitutes the whole agreement between us and supersedes and replaces any previous arrangement, understanding or agreement between us relating to the subject matter of these Terms of Business.
Governing Laws
The laws of the Republic of Ireland will apply to all products and services offered by Peopl and the Irish Courts will have jurisdiction to hear any disputes that may arise.
Investor Compensation
Peopl is a member of the Investor Compensation Company Ltd (ICCL) scheme established under the Investor Compensation Act, 1998 (as amended) (the “Act”). 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 you fall 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 your loss, which is recognised as being eligible for compensation, or €20,000.
Brokers Ireland Compensation Fund
As a member of Brokers Ireland, Peopl is also a member of the Brokers Ireland Compensation Fund. Subject to the rules of the scheme the liabilities of its member 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 from Brokers Ireland www.brokersireland.ie.
CUIS Financial Services DAC trading as Peopl is regulated by the Central Bank of Ireland with Registration No. 622865 and registered offices at 511 The Capel Building, Mary’s Abbey, Dublin 7 Tel: 01 5533580
E:insurance@nullpeopl.ie
