Scale of fees
Travers & Co. Insurances Ltd is remunerated by a professional service fee for the initial work, activity and time spent in the seeking and arrangement of the best terms, advice, product and Insurer/Product Producer for your specific needs. A professional service fee is also charged for the activity involved in the renewal of the policy and also any alterations that take place during and at termination of a policy.
A scale of our Standard Professional service fees are noted below.
Personal Insurances – up to a max of 50% of Insurer quoted terms subject to minimum €49
Commercial Insurances – up to a max of 50% of Insurer quoted terms subject to minimum €75
Alteration/Cancellation Fee – up to a max of 50% of Insurer quoted terms subject to minimum €40
Financial Services – Directors & Consultants €190 per hour, Account Executives €130 per hour, Support Staff €75 per hour.
We reserve the right to amend these fees should the complexity of the product require a higher fee. We will confirm and agree this fee with you prior to any increased charge being applied. A fee of €25 may be charged for driving experience letters, and all duplicate documentation both for existing and past clients. Please note an administration fee may apply to policies payable by direct debit and some Insurers/Product Producers may collect our professional service fee on policies payable by direct debit. The firm also reserves the right to charge fees of up to 2.5% on card payments. Any bank fees charged on unpaid cheques together with currency transfer differences/shortfalls will be charged back to the client and are payable in full together with any other outstanding balances.
The firm will obtain written agreement from the consumer before deducting an administration fee or other charge from a rebate due to a consumer. All fees and charges applied by Travers & Co. Insurances Ltd will be declared on our renewal notices/invoices/credit notes and/or in other correspondence issued to clients. All such fees and charges are non-refundable. Any Third Party fees or charges that apply in connection with your policy will be included in the total amount charged and are non-refundable. Travers & Co. Insurances Ltd will, if necessary, exercise its legal rights to receive any payment of fees due to it from clients.
We are also remunerated by commission received from the Insurer/Product Producer for the work involved in placing an order and finalising the product with them on your behalf. Where premium finance loans and/or some Insurer direct debits are arranged for a client we may earn additional commission of up to 4% of the financed amount. Commission paid by Insurers/Product Producers may from time to time include contingent or override commission based on volume and/or profitability. Some product producers do not pay a commission. Details of commission arrangements are available on request.