Remuneration – General Insurance


  • Hastings (Westport) Ltd t/a Hastings Insurance,, &  hereafter referred to as Hastings Insurance 
  • David Flannelly (Holdings) Ltd t/a Hastings Insurance  hereafter referred to as Hastings Insurance and
  • Pat Hardiman Insurances Ltd t/a Hastings Insurance hereafter referred to as Hastings Insurance 

act as intermediary (Broker) between a consumer and a product provider with which we place its business.

The Background

Pursuant to provision 4.58A of the Central Bank of Ireland’s September 2019 Addendum to the Consumer Protection Code, all intermediaries, must make available in their public offices, or on their website if they have one, a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the intermediary which it has agreed with its product producers.

What is Remuneration?
Remuneration is the payment earned by the intermediary for work undertaken on behalf of both the provider and the consumer.   The amount of remuneration is generally directly related to the value of the products sold.

Hastings Insurance does not receive commissions or other remuneration linked to the achievement of targets that do not consider our client’s best interest e.g. targets relating to volume (including override commission) and bonus payments linked to business retention.

What is Commission?
Commission is payment that may be earned by an intermediary for work undertaken for both provider and consumer.

General Insurance Products
General insurance products, such as motor, home, travel, health, retail or liability insurance, are typically subject to a single or standard commission model, based on the amount of premium charged for the insurance product. 

Profit Share Arrangements
In some cases,  Hastings Insurance may be a party to a profit-share arrangement with a product provider and will earn additional commission.  Any business arranged with these product providers on a client’s behalf will be placed with the product provider because that product provider is, at the time of placement, the most suitable to meet the client’s requirements, taking all the client’s relevant information, demands and needs into account.

Clawback is an obligation on the intermediary to repay unearned commission. Commission can be paid directly after a contract is concluded but is not deemed to be ‘earned’ until after a specified period of time. If the consumer cancels or withdraws from the financial product within the specified time, the intermediary must return commission to the product producer.

Other Fees, Administrative Costs/ Non-Monetary Benefits
The firm may also be in receipt of other fees, administrative costs, or non-monetary benefits such as: 

  • Attendance at a conference within the State, IT software or platforms, or hospitality of a reasonable de minimis value such as food and drink during a business meeting or conference
  • Assistance with advertising / branding

Further details on the providers we work with, the products we sell and the commissions available to us are as follows.

CompanyDetailed Information
AIG Europe SAClick Here
AIC GlennonClick Here
NFP Commercial Insurance Solutions (Ireland) Ltd.Click Here
Allianz PlcClick Here
Angel Risk Management Ltd/AXA XLClick Here
AON Ireland LtdClick Here
Aquabroker LtdClick Here
Arachas Corporate Brokers/Covercentre/Capital IMClick Here
ARAG Legal Protection LtdClick Here
ARB Underwriting LtdClick Here
Aviva Insurance Ireland DacClick Here
Axa Insurance DacClick Here
Benchmark UnderwritingClick Here
Joseph G Brady Insurance Ltd t/a Brady InsuranceClick Here
Chubb European Group SEClick Here
Coverdrone EU BV t/a CoverdroneClick Here
Catalpa Underwriting LtdClick Here
CFC Underwriting LtdClick Here
Decare Dental Insurance Ireland Dac t/a Decare DentalClick Here
Dolmen Insurance Brokers LtdClick Here
Dual Underwriting Ireland DACClick Here
Ecclesiastical Insurance Office PlcClick Here
Everest Underwriting LtdClick Here
FBD Insurance PlcClick Here
Fingal Insurance Group DacClick Here
First Ireland Risk Management Ltd t/a First IrelandClick Here
Footprint Underwriting DACClick Here
Frost Insurances LtdClick Here
Hickey Clarke General Ins Ltd t/a Hickey Clarke & LanganClick Here
Hiscox SAClick Here
HSB Engineering Insurance LtdClick Here
Rokstone Insurance Europe Ltd t/a isure UnderwritingClick Here
Irish Life Health DacClick Here
JMM (Ireland) LtdClick Here
Kennco Underwriting LtdClick Here
Keycare Assistance LimitedClick Here
Liberty Insurance DacClick Here
LHK Kelleher Insurances Ltd t/a LHK Kelleher InsuranceClick Here
Marsh Ireland Insurance Brokers LtdClick Here
McCarthy Insurance GroupClick Here
MIS Underwriting LtdClick Here
OBF Insurance Group LtdClick Here
O’Callaghan Insurances LtdClick Here
Optis Insurances Ltd t/a Optis InsuranceClick Here
Ornella Underwriting LtdClick Here
Pen Underwriting LtdClick Here
Brian J Pierce Ltd t/a BJPClick Here
Prestige Underwriting Services (Ireland) LtdClick Here
Robertson LowClick Here
RSA Insurance Ireland DacClick Here
Sparrow Insurances LtdClick Here
Specialist Underwriting Services LtdClick Here
Sean Barrett BloodstockClick Here
Securus Insurance LtdClick Here
Stuart Insurances Ltd t/a EversureClick Here
The Underwriting Exchange (Ireland) Ltd.Click Here
Thomond Underwriting LtdClick Here
Thompson Insurances LtdClick Here
Tokio Marine Europe SA t/a Tokio Marine HCCClick Here
Tyser (Ireland) Ltd t/a TysersClick Here
Travelers Insurance DacClick Here
Vertigo Inspection (ROI) Ltd t/a Irish Engineering ServicesClick Here
Willis Towers Watson Insurances (Ireland) LtdClick Here
Worldwide Ins Brokers & Advisors Ltd – Broker OptionsClick Here
Wrightway Underwriting LtdClick Here
XS Direct Insurance Brokers LtdClick Here
Zurich Engineering Inspection ServicesClick Here
Zurich Insurance DacClick Here
MJ O’Neill Insurances Ltd t/a Yachtsman EuromarineClick Here