Terms of Business
(TOB 1.2)
Authorised Status
Risk-Loss is a trading name of Alpha Claims Consultants Ltd., with our office at Ballykilmore, Tyrellspass, Co Westmeath, Tel: 1800 277377, Email: info@risk-loss.com, Web: www.risk-loss.com, hereafter referred to as Risk-Loss, is regulated by the Central Bank of Ireland (www.centralbank.ie) as an Insurance Intermediary under the European Communities (Insurance Mediation) Regulations, 2005 (as amended).
Statutory Codes
Risk-Loss is subject to and complies with the Consumer Protection Code, Minimum Competency Code and the Fitness and Probity Standards. These Codes offer protection to consumers and can be found on the Central Bank of Ireland website www.centralbank.ie.
Services Provided
Risk-Loss are property risk and loss assessors, contracted by you to act as claimant on your behalf with your Insurers or to assess a value at risk on your property. Our loss assessment role is to establish whether your loss has resulted from an Insured peril covered under your Policy, and where this is the case, to assess the extent of the damage and liaise with your Insurers in order to reach a satisfactory settlement of the claim on your behalf. During the claim process Risk-Loss assessors will act as client and claimant as defined by the Health and Safety Acts and the Consumer Protection Code 2007 as amended 2012. At the time of inspection we will carry out a visual examination of any damage. We will also make enquiries as to the sums insured under your policy. We will explain what is involved in the claim handling process and in particular what information you will need to provide to support your claim. The information you provide will be used by us to process your claim. We may request information about you and your claims history and/or share information we hold about you and your claims history with other insurance companies directly, their agents and with any other intermediary acting for you. Our risk assessment role is to examine your property portfolio against your current level of cover and advise if sums insured are adequate and if relevant potential risks are covered for in your policy. Please sign and return the acknowledgement attached as confirmation that you have received and understand these Terms of Business. If we do not receive the signed acknowledgement within 14 days, it will be deemed that you have accepted these terms of business.
Remuneration and Fees
Risk-Loss is remunerated by fees calculated at 10% of the settlement of the claim plus VAT at 23%. Risk Assessment Fees are a set fee determined by the level of the property portfolio and will be agreed in writing with you prior to the commencement of any service. We reserve the right to amend these fees should the complexity of the assessment require an adjustment of the fee. We will confirm and agree the fee with you prior to any alteration being applied. We reserve the right to charge interest on all outstanding fees at 1.5% per month compounding for any fees unpaid 30 days following issue of fee note. We reserve the right to charge an additional 1.5% on any payments being made by credit cards. We reserve the right to pass any unresolved debt to a collection agency should the need arise.
Conflict of Interests
It is the policy of Risk-Loss to avoid any conflicts of interest when providing business services to its clients. Where an unavoidable conflict may arise we will advise you of this before proceeding to provide any business services. If you have not been advised of any such conflict you are entitled to assume that none arises.
Complaints Procedure
Risk-Loss has a written procedure in place for the effective consideration and handling of complaints. Any complaints should be addressed to The Compliance Officer; Risk-Loss, Ballykilmore, Tyrellspass, Co Westmeath. Each complaint will be recorded and acknowledged in writing within 5 working days unless the complaint has been resolved to the satisfaction of the complainant within 5 working days. All complaints will be fully investigated, updates will be advised at intervals of not more than 20 working days, we will endeavour to resolve the complaint within 40 business days and the outcome of the investigation will be communicated to the person who raised the complaint within 5 business days of completion of the investigation. In the event that you may be dissatisfied with the handling of and/or response to your complaint, you have the right to complain to the Financial Series Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2, Tel: 18902882090, Email: enquiries@financialobmudsman.ie.
Data Protection
Risk-Loss is a Data Controller as defined by 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. To fulfil these objectives we may share information with other affiliated professionals. The information and other data provided to our office may be used to advise you of other products and services we may offer from time to time. You may request in writing to Risk-Loss if you wish not to be contacted or receive information on these products or services. You have the right at anytime to request a copy of any ‘personal data’ within the meaning of the Data Protection Act 1998 (as amended or re-enacted from time to time) that our office holds about you and to have any inaccuracies in that information corrected.
Duty of Disclosure
It is your responsibility to provide complete and accurate information for your insurers when making a claim. Failure to disclose any material information such as claims history, etc., could invalidate your claim. If you are in doubt as to whether a fact is material or not you should disclose it.
Terms of Business 2nd December 2018
