Our Remuneration

We, O’Brien Cregan Kelly Ltd t/a Cregan Kelly O’Brien Insurances act as intermediary (Broker) between you, the consumer, and the product provider with whom we place your 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 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.

What is Commission?

Commission is payment that may be earned by an intermediary for work undertaken for both provider and consumer. The commission is paid to us for the arranging of the policy and again at each subsequent renewal. The rate of commission paid is the same for the new business and on the renewal of the policy.

General Insurance Products

General insurance products, such as motor, home, travel, health, retail, liability or other such business related insurances, are typically subject to a single or standard commission model, based on the amount of premium charged for the insurance product. The commission paid to us is calculated on the premium charged by the product provider but exclusive of the applicable Government Levy and any administration fee they may charge.

Fees

The firm may also be remunerated by fee by the product producer such as policy fee or administration fee. Where we charge you a separate administration fee, this will be advised to you in the documentation provided in conjunction with your policy paperwork

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 product provider seminars
  • Assistance with Advertising/Branding

 We only offer General Insurance Products and the list of Product Providers and their Products reflect same.

 Outlined below is a list of the providers that our firm deals with which are in alphabetical order for ease of reference –

Aiken Underwriting Agencies

Product

Commission Rate

Professional Indemnity

10%

Property Owners

10%

Unoccupied Properties

15%

Tour Operators

15%

Commercial Combined

15%

Liability and Excess Liability

up to15%

Marine

15%

Surety Bonds

0%

Personal Lines

15%

Motor including Trade & Fleet

5%

Directors & Officers

10%

Medical Malpractice

10%

Crime

10%

Cyber

10%

Allianz

Product

Commission Rate

House

15%

Landlord House

15%

Commercial Motor

5%

Private Motor

5%

Commercial Combined

15%

Motor Fleet

5%

Retail Packages

15%

Office Packages

15%

Commercial Property Owners

15%

Social Public Liability

10%

Combined Liability

10%

Aon

Product

Commission Rate

Combined Liability

Between 8% and 10%

Commercial Package

15%

Personal Accident / Travel Package

10%

Personal Accident

20%

Household

12%

Professional Indemnity

15%

Cyber Liability

10%

Golfers Combined Package

10%

Construction Liability

10%

Aquabroker

Product

Commission Rate

Marine Craft

7.5%

ARB Underwriting

Product

Commission Rate

Commercial Property

15%

Commercial Vehicle

5%

Combined Motor Trade & Internal

10%

Motor Trade Road Risk

5%

Private Motor

5%

Professional Indemnity

17.5%

Combined Property & Liability

15%

Travel

20%

Assess Ireland

Product

Commission Rate

Engineering Inspection Contract

15%

Aviva

Product

Commission Rate

Commercial Motor

10%

Contract Works

15%

Engineering Inspection

15%

Forklift Package

Mixed from 5% to 15%

Computer

15%

House

Between 12.5% and 17.5%

Goods in Transit

18.78%

Motor Trade

5%

Office Packages

16%

Retail Packages

16%

Private Motor

Between 5% and 10%

Commercial Combined

15%

Employers Liability

6%

Public Liability

10%

Combined Liability

10%

Motor Fleet

5%

AXA

Product

Commission Rate

Private Car

10%

Commercial Motor

5%

Household Owner Occupied

20%

Household Rental

15%

Motor Fleet

5%

Commercial Combined

20%

Commercial Property Owners

20%

Retail & Office Packages

17.5%

Commercial Liability

15%

 

AXA-XL

Product

Commission Rate

Directors & Officers

25%

Professional Indemnity

25%

Benchmark Underwriting

Product

Commission Rate

Household

15%

Household Rental

15%

Household Holiday Home

15%

Shop Package

17.5%

Office Package

17.5%

Commercial Property Owners Package

17.5%

Broker Options

This provider does not pay any commission therefore our income is derived from the fee charged

Bump Insurance

Product

Commission Rate

Private Car

6%

Capital Insurance Markets

Product

Commission Rate

Construction Liability

10%

Contract Works

13%

Liability – Electrician

10%

Professional Indemnity

10%

Commercial Property Owners

15%

Liability – Security

12.5%

Liability – Cleaning

11.25%

Liability – Recruitment

12.5%

Liability – Oil Distributors

8%

Corin

Product

Commission Rate

Liability

15%

CoverCentre Underwriting

Product

Commission Rate

House

15%

Commercial Motor

6%

 

Frost Underwriting

Product

Commission Rate

Commercial Combined

15%

Retail Packages

15%

Liability

15%

Unoccupied Commercial Risks

15%

Unoccupied Residential Risks

15%

Frost Underwriting charges separate fees for their placement services

Glennon B2B Scheme

 

Rates to be confirmed


 

KennCo Underwriting

Product

Commission Rate

Private Car

5%

Commercial Motor

5%

Commercial Combined

15%

House

15%

Motor Trade

5%

Garage Combined

15%

Professional Indemnity

15%

Cyber

12.5%

Medical Malpractice

10%

Travel

20%

Kidd Insurance

Product

Commission Rate

Standard House incl Let Property

15%

Holiday Home

10%

Mobile Home & Caravan

10%

House Non Standard Construction

10%

House Unoccupied

10%

Liberty Insurance

Product

Commission Rate

Private Car

7.5%

Commercial Motor

10%

House

20%

MIS Underwriting

Product

Commission Rate

House

20%

House – Let

25%

Travel

25%

OBF Insurance Group

Product

Commission Rate

Mobile Home & Caravan

10%

House incl Holiday Home

12%

Professional Indemnity

Between 10% - 12.5%

Directors & Officers

10%

Cyber

10%

Medical Malpractice

10%

 

O’Driscoll O’Neil

Product

Commission Rate

Commercial Combined

Between 10% - 15%

Travel / Personal Accident

Between 10% - 15%

Commercial Property Owners

15%

Classic Car

0%

Soccer Personal Accident

0%

SportsCover – Combined Liability

0%

Legal Protection

15%

Optis Insurance

Product

Commission Rate

Combined Liability

15%

Commercial Combined

15%

Property Owners

17.5%

Public House / Restaurant

15%

Shop Package

15%

Professional Indemnity

20%

Self-Build Package

15%

Carriers Liability

12.5%

Office Package

15%

Goods in Transit

12.5%

B&B / Guesthouse

15%

Contract Works

15%

Personal Accident

15%

Patrona Underwriting

Product

Commission Rate

Motor – Haulage / Courier

5%

Combined Liability

5%

Carriers Liability

10%

Commercial Motor

5%

Equestrian Property

7.5%

Equestrian Liability

5%

Motor Fleet

7.5%

Motor – Horsebox

5%

Motor Fleet – Haulage

5%

Logistics Combined

15%

Private Car

5%

Public Liability

5%

Motor – Special Types

5%

Motor – Taxi

5%

 

Prestige Underwriting

Product

Commission Rate

Commercial Property

14%

Liability

15%

House

15%

Motor Trade

7.5%

Commercial Motor

8%

Private Car – Manual

8%

Private Car – On-line

6%

Robertson Low

Product

Commission Rate

Apartment Block

10%

Aviation / Hull

10%

Business Interruption

10%

Contract Works

10%

Construction Bond

10%

Commercial Combined

10%

Liability

10%

Cyber

10%

Directors & Officers

10%

Event Policy

10%

Exhibition Policy

10%

House

15%

Medical Malpractice

10%

Professional Indemnity

10%

Property Owner

10%

RSA

Product

Commission Rate

Combined Liability

10%

House

15% - 20%

Private Car

5% - 7.5%

Contract Works

15%

Carriers Liability

20%

Goods in Transit

18.8%

Employers Liability

5%

Engineering

15%

Apartment Block

15%

Marine

15%

Office Package

15%

Shop Package

11%

Commercial Combined

11%

Personal Accident / Travel

15%

Professional Indemnity

12.5%

Public Liability

7.5%

Commercial Motor

5%

Motor – Haulage

5%

 

QANW

Product

Commission Rate

Contract Performance Guarantee

10%

 

Specialist Underwriting Services

Product

Commission Rate

Retail Package Policies

15%

Travelers

Product

Commission Rate

Motor Fleet

5%

Motor Trade Road Risks

5%

Property

15%

Employers Liability

15%

Public Liability

15%

Technology & Cyber

20%

Management Liability

17.5%

The Underwriting Exchange

We use The Underwriting Exchange to place business onto the London Market. They use multiple product providers both within Lloyds and elsewhere. We requested that they provide us with the rates of commission we would be paid for the placing of business through their facilities. They responded as follows:

Our firm arranges numerous types of insurance products over many individual classes of business for our customers.  This business is transacted in Lloyd’s of London with many of its syndicates and with various international insurance companies.  As a result, commissions will differ between products and risks and so are discussed with you prior to inception and then specified clearly as your commissions on each debit note or invoice we send to you.

As a general rule however, we are able to advise you that on average the commission you will receive from us will range from between 7.5% and 10% of premium but as we highlight above, this will be dependent on each risk, the class of business and the insurance provider.”

Willis Towers Watson

Product

Commission Rate

Asgard Private Car

5%

Asgard Fleet

5%

Asgard Bus & Coach

5%

Tradesure Liability

15%

Tradesure Commercial Motor

10%

Motor Trade – Property

15%

Motor Trade – Liability

7%

Motor Trade – Road Risks

5%

Office Package

15%

Golfsure – Combined

15%

Wrightway Underwriting

Product

Commission Rate

Motor – Special Types

5%

Breakdown Assistance

5%

Carriers Liability

10%

Engineering Inspection

15%

Motor Fleet – Haulage

10%

Motor – Haulage

5%

Commercial Motor

5%

Private Car

5%

Motor Fleet

5%

House

17.5%

Liability – Haulage

8%

Combined Liability

12%

Zurich Insurance

Product

Commission Rate

Commercial Motor

5%

Building in the Course of erection

15%

Contract Works

15%

Commercial Combined

15%

Employers Liability

6%

Public Liability

10%

Computer

15%

Combined Property

Between 12.5% - 15%

Private Car

5%

Engineering Inspection

15%

Farm

12.5%

Fidelity Guarantee

15%

Motor Fleet – Commercial Vehicle

5%

Personal Accident / Travel

15%

House

15%

Legal Expenses

25%

Bonds

15%

Caravan / Mobile Home

15%

Marine / Goods in Transit

17.5%

Apartment Block

15%

Motor Trade

5%

Guesthouse

15%

Office Package

15%

Shop Package

15%

Property Owners

15%

Residential Care Home

15%

Marine – Craft

15%

Small Fleet

7.5%

Professional Indemnity

15%

About Cregan Kelly O'Brien

 

In 2007 Maurice Cregan and Colm Kelly established CK Financial Services to provide financial planning and advice to business owners and individuals. Tommy O'Brien, a General Insurance expert, then joined them in 2010, enabling them to meet the full financial needs of their clients. Financial Life & Planning Limited would deliver Financial Services, and O'Brien Cregan Kelly Insurances would deliver Insurance Broking services. Two Business Names were registered Cregan Kelly O'Brien Financial Planning and Cregan Kelly O'Brien Insurances

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