Fees & Charges
SCHEDULE OF FEES AND CHARGES
MIB is remunerated by commission paid by insurers and/or brokerage fees paid by you. Details of commission received from insurers are available on request.
MIB will charge you a fixed fee or a percentage of the insurance premium and Government levies as follows:
- Personal Insurance Arrangement/Renewal: up to a max of 30% subject to a minimum of €50.
- Commercial Insurance: up to a max of 50% subject to a minimum of €250.
- In the event of cancellation or rebate a brokerage fee may be levied subject to a maximum of 15%.
- Mid-Term Alterations: up to a max of 50% subject to a minimum of €30 on personal insurance and €100 on commercial insurance.
The amount of any commission received by MIB from insurers will not be deducted from any brokerage fee payable by you.
Advice without placement of a contract is chargeable on a time disbursements basis:
- Directors & Senior Personnel – €200 per hour.
- Account Executives/Consultants – €150 per hour.
A processing fee of €25 will apply to any policy that is taken out with us and subsequently cancelled or not taken up because the information given to us was incorrect. It is important that correct information is supplied at all times as it forms the basis of the contract with the insurance company.
Where we arrange insurance premium finance on your behalf, a handling charge of €45 will apply.