These terms of business set out the terms under which Elstwell Ltd t/a Chill Insurance (Chill Insurance) will provide insurance and investment 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 business service provided to you now and will remain in force until further notice.  They also contain details of our regulatory and statutory obligations and the respective duties of both Chill Insurance and you in relation to such services.  Please note that by proceeding with your Chill Insurance policy you agree to the terms as laid out in this Terms of Business document.

Regulatory & Authorised Status

Elstwell Ltd t/a Chill Insurance, Carraig House, Brookfield Terrace, Blackrock, Co Dublin, Tel: 01 4003400 / 1890302020 Fax: 01 2799851, Email: info@chill.ie  Web site: www.chill.ie is an independent insurance intermediary and provides the following services:

• Advising on the selection of Life and Non Life insurance products best suited to its clients' needs.
• Receiving and transmitting orders to product producers.
• Advice to clients is based on a fair analysis of the available market.  This means that 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 product producers.

Elstwell Ltd t/a Chill Insurance is authorised under the Investment Intermediaries Act (1995) as amended, is registered under the European Communities (Insurance Mediation) Regulations 2005 and is regulated by the Central Bank of Ireland as an insurance intermediary.  Chill Insurance is subject to and must comply with the Central Bank of Ireland's Consumer Protection Code, Fitness and Probity Code and Minimum Competency Code.  The Consumer Protection Code offers protection to consumers and all the Codes are available for inspection on the Central Bank of Ireland's web site www.centralbank.ie.   We hold Professional Indemnity Insurance to the level of €7,500,000. Elstwell Ltd t/a Chill Insurance is registered with the National Consumer Agency as a credit intermediary for Close Premium Finance (Ireland) Limited to arrange the provision of credit.   

Investor Compensation

Chill Insurance is a member of the Investor Compensation Company Ltd (ICCL) scheme established under the Investor Compensation Act, 1998 (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.

Irish Brokers Association (IBA) Compensation Fund

As a member of the Irish Brokers Association (IBA), Chill Insurance is also a member of the IBA Compensation Fund Ltd.  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 ICCL (established by law) has failed to adequately compensate any client of the member.

Handling Clients' Money

Chill Insurance will accept payments in cash, by cheque or by credit/debit card in respect of all classes of insurance in the circumstances permitted under Section 25G of the Investment Intermediaries Act, 1995. Chill Insurance is not authorised to accept cash or 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.

Quotations

All quotations are valid for 7 days.  All quotations and cover are subject to acceptance by the insurer concerned.  A full copy of the insurers' policy wording, terms and conditions is available upon request.   Please note full disclosure of all material facts should be made including medical history and claims.   Failure to disclose all relevant information 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.

Money Laundering

Chill Insurance reserves the right to request any facts about a client which it reasonably believes it needs to know in order to comply with the Anti-Money Laundering Provisions of the Criminal Justice Act, 1994(as amended) and the financing of Terrorism Act 2005.

Remuneration Policy

Chill Insurance is remunerated by a professional fee for the initial work and time spent in seeking the most suitable terms, 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 any alterations that take place during and at termination of a policy.  Our fees are outlined below.  We are usually remunerated by commission received from product producers for work involved in placing an order and finalising the product on your behalf; for the provision of advice regarding life and non life business.  Chill Insurance may be in receipt of override commissions from Insurers, details of which are available on request. The amount of commission receivable by Chill Insurance under any non-life policy of insurance is available on request.  Fees are charged on the under noted scale, and cover the sourcing of the product, administration costs, claims handling and standard advice on product placement.  Clients may pay in full for the service provided by means of a fee which will be agreed, in writing, with the client by the Company in advance of the provision of service.  The amount of any commission received by the Company will not be deducted from any fee payable.  All prices quoted by Chill Insurance are inclusive of 3% Government Levy where applicable.  With effect from 1^st January 2012 a 5% Government Levy shall apply. 

Where separate premium finance agreements are arranged for you via a premium finance provider we may earn additional commission of up to 4% of the annual premium. Should there be a default of a direct debit payment; Chill Insurance 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.   

*Please note the New Business and Renewal standard set up charge is non refundable.

Life Insurance:

In respect of life assurance contracts we are remunerated by commission only.

Where the client fails to pay or defaults

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

• Your non payment of the premium due at inception, renewal or following an alteration
• Your bank returns your cheque due to insufficient funds or any other reason
• Direct Debit default
• Non disclosure of relevant information
• Provision of incorrect or inaccurate information
• Non return of necessary documentation within the required timeframe
• Insurer imposed cancellation.

In the event that you fail to pay and/or fail to provide us with a completed and signed direct debit mandate within the required timeframe, we will advise the Product Producer involved and cover will be cancelled. Product producers may withdraw cover on default of any payments due under any products arranged for your benefit. Details of these provisions will be included in your policy/product terms and conditions. If you have a loan with Close Premium Finance, the rebate from the product provider will be added to your loan account and then the outstanding balance or refund will be determined. Chill Insurance will take such steps as may be necessary to recover any monies due to us including the instigation of legal proceedings, the appointment of a receiver and all other rights available to us.

Should there be a default of a direct debit payment Chill Insurance will charge up to €25 fee for recovery of the defaulted payment.  In the event that the loan is to be reinstated following a default, a charge of up to €40 will be applied.   

Receipts

Chill Insurance shall issue a receipt for each non negotiable or negotiable instrument or payment received. Pursuant to Section 30 of the "Investment Intermediaries Act 1995 (as amended)" and the Central Bank of Ireland Consumer Protection Code.  These are issued with your protection in mind and should be stored safely.

Data Protection

Chill Insurance is registered as a Data Controller as defined in the Data Protection Act 1988 and 2003. We collect your personal details in order to provide the highest standard of service to you.  We take great care with the information provided taking steps to keep it secure and to ensure it is only used for legitimate purposes. 

We may need to collect sensitive personal information relating to you or anyone to be named on your policy or residing in your household to process your application.  It is your responsibility to ensure that you have obtained the permission of that person to allow us to process their sensitive personal data as part of your application and to explain our Data Protection policy to them.

We may share with insurance service providers' information we hold about you and your claims history.  Our product producers may subscribe to insurance industry databases for fraud prevention purposes.  We may also use your information for the purposes of complying with regulatory or legislative requirements, offering renewals and for research/statistical analysis.

The information and other data provided to our office may be used to advise you of products and services we may offer from time to time.

You have the right at any time to request a copy of any "personal data" within the meaning of the Data Protection Act 1988 (as amended or re-enacted from time to time) that our office holds about you and to have any inaccuracies in that information corrected.  Requests should be forwarded to the Compliance Officer, Chill Insurance with your details to request the information you require.  A fee of €6.35 will apply.

Chill Insurance may record inbound and outbound telephone calls for quality, verification and training purposes.

Cancellation

Either party may, at any time, cancel the policy. If you wish to cancel your policy, you must send written instructions to Chill Insurance. For Private and Commercial Motor Insurance, you must return your Insurance Certificate and Disc before your policy can be cancelled. Chill Insurance may instruct your insurers to cancel your policy. If this happens, you will be issued with prior written notification to your last known address. Chill Insurance will enforce cancellation of a policy 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.  If you cancel during the first year of insurance (outside the cooling off period) short term rates apply in accordance with the terms and conditions of your insurance policy.  Please note that our set up charge is non refundable.

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 o 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 Chill Insurance 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 insurance certificate and disc must be received by Chill Insurance 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.

Conflict of Interest

It is the policy of Chill Insurance to avoid any conflict of interest when providing business services to clients. 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. Chill Insurance may be in receipt of soft and or enhanced commissions from insurers with whom we deal.

Complaints

We take complaints made against us very seriously and maintain a procedure to ensure that complaints are dealt with promptly and fairly.  All complaints should be addressed to Ann Moylan, The Complaints Officer, Chill Insurance, Carraig House, Brookfield Terrace, Blackrock, Co Dublin. Chill Insurance will acknowledge in writing each complaint received within 5 business daysof the complaint being received. Chill Insurance will provide the complainant with a regular written update on the progress of the investigation of the complaint at intervals of not greater than 20 business days. Chill Insurance will attempt to investigate and resolve the complaint within 40 business daysof having received the complaint. When the 40 days has elapsed, if the complaint is still not resolved, Chill Insurance will inform the complainant of the anticipated timeframe within which Chill Insurance hope to resolve the complaint. At this point Chill Insurance will inform the complainant of their right to refer the matter to the Financial Services Ombudsman's Bureau, 3^rd Floor, Lincoln House, Lincoln Place, Dublin 2, Tel: 1890882090. Where Chill Insurance resolve the complaint, Chill Insurance will advise the complainant in writing, within5business days of the completion of the investigation of the complaint, the outcome of the investigation and where applicable explain the terms of any offer or settlement being made.

Limitation of Liability

We shall be liable to you for any losses, damages, costs or expenses (together "Losses") incurred by you arising directly from our negligence or omission with respect to the services that we provide but subject to the condition that the maximum aggregate liability that we will have to you (including any related company or affiliate of yours) for any and all Losses (or other claims arising in connection with the services that we provide) shall for all purposes whatsoever be limited to a maximum amount of €5,000,000.

The above noted limitation on liability shall not apply in circumstances where liability arises as a result of fraud or in circumstance where our client is a consumer within the meaning of the Central Bank of Ireland's Consumer Protection Code. We shall not be liable in contract or in tort or in any circumstances to you (including any related company or affiliate of yours) in connection with the services that we provide for any special, indirect or consequential loss, loss of profits or damage to reputation.

Terms of Business valid from: 10^th January 2012.