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1. Regulatory Status
Our legal name is XS Direct Insurance Brokers Limited and our registered office is 1 Merrion Place, Dublin 2. We are a wholly owned subsidiary of XS Direct Holdings Limited. We are regulated by the Central Bank of Ireland. Our Insurance services include the sale of and advice on XS Direct car insurance underwritten by International Insurance Company of Hannover Ltd.
2. Description of Services and Charges
We are remunerated by commission & fees. We reserve the right to charge fees for policy set-up, policy adjustments, premium refunds and any administrative tasks. The individual fee for each of these services is €50. In the event that you decide not to proceed with a policy, a non refundable administration fee of €50 will apply. If you choose to cancel your policy within 14 days, you are entitled to a full refund subject to a charge for the part of the policy that has been used and a €50 set-up fee. If documentation as requested is not received within 15 days of cover commencing, cover will be cancelled and a refund of 75% of premium will be paid (if the premium has been paid in full). No refund will be paid if you are paying by instalment.
3. Conflict of Interest
We have in place policies for our employees in relation to conflicts of interest. These are designed to ensure that potential conflicts of interest between you and us or our employees are avoided.
4. Products and Services
In the event of default in your obligations to us, we may ask you to take such action as is necessary to remedy the default. Subject to the terms and conditions relevant to the product or service which we provide and to the extent permitted by law, we retain the right to enforce your obligations by way of legal proceedings. Product providers may withdraw benefits or cover on default of any payments due under any products arranged for your benefit. Details of these provisions will be included in your product terms and conditions.
5. Complaints Procedure
Should you have a complaint regarding the service you have received, please address this to Complaints Dept, XS Direct Insurance Brokers Limited at the above address (marked private & confidential). Each complaint will be acknowledged by us within 3 working days and a formal response will be issued within 14 days of receipt. In the event you are dissatisfied with the outcome or if the complaint is not resolved within 40 business days of the complaint, you are entitled to refer your complaint to: The Financial Services Ombudsman’s bureau, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2, which can also be contacted at lo-call 1890 88 20 90, by telephoning +353 1 662 0899, faxing + 353 1 662 0890, or e-mailing firstname.lastname@example.org. If your complaint concerns the treatment you received from an insurer, then these insurers will also have complaints procedures. You have the right to complain directly to these insurers, or, if you wish, we can make such a complaint on your behalf.
6. Investor Compensation Scheme
XS Direct Insurance Brokers Limited is a member of the Investor Compensation Scheme which is administered by the Investor Compensation Company Limited. The scheme will pay compensation (subject to certain limits) to an eligible investor where XS Direct Insurance Brokers Limited is unable, due to its financial circumstances, to return money or investment instruments owed by the XS Direct Insurance Brokers Limited to that investor. The amount of compensation payable to each eligible investor is 90% of their financial loss as determined by the Administrator, up to a maximum compensation of €20,000 per investor.
7. Data Protection
Information which you give us will be used for the purposes of obtaining and putting in place policies of insurance with insurers. Those insurers are the controllers of any personal data which you supply to us, for them. We will not keep your data for longer than is necessary under applicable law (which may mean retention of that data after a policy of insurance has lapsed). We will not pass it to third parties outside our corporate group save for insurers, who will need that data to assess the terms of any insurance they may grant you. We record our calls with you for legal reasons and for training and quality assurance purposes. If you wish to access copies or correct the data we hold about you, please contact us by sending a written request to The Manager, XS Direct Insurance Brokers Limited at the address below (marked private & confidential). This request should be accompanied by a fee of €6.35.