We are committed to providing you, our client, with:
A Professional Business Service & Comprehensive Cover at a Competitive Price. We will act in your best interests and look forward to working successfully with you over many years.

Murphy & Sheehy Insurances Limited is regulated by the Central Bank of Ireland and is a member of the Irish Brokers Association/Brokers Ireland 

Murphy & Sheehy Insurances Limited has offices at 12, Denny Street, Tralee, Co. Kerry. Tel: 066 – 7123099 Fax: 066 – 7123304 E mail: info@murphysheehy.ie


These terms of business set out the basis on which Murphy & Sheehy Insurances Ltd. will provide business services to you as a client of the firm. They also contain details of our regulatory and statutory obligations and the respective duties of both the firm and you in relation to such services. 


Murphy & Sheehy Insurances Ltd. is authorised by the Central Bank of Ireland under the Investment Intermediaries Act 1995 (as amended), and the European Communities Insurance Mediation Regulations, 2005. Copies of our Authorisations are available on request; alternatively the Central Bank of Ireland holds registers of regulated firms which can be viewed on their website www.centralbank.ie. A copy of our statement of authorised status is attached herewith.  


Murphy & Sheehy Insurances Ltd. is subject to and complies with the Handbook of Prudential Requirements, Consumer Protection Code, the 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 


As Insurance Intermediaries we provide advice in relation to General Insurance and Life Assurance products and services. With the significant number of appointments we hold, available on request, we can offer our clients an extensive choice of suitable products that best serve their needs and circumstances. We do not guarantee nor make representations in regard to, and expressly disclaim responsibility for the financial security of Insurance Companies and Product Producers with which we place business. 

This firm does not have ‘tied’ relationship with any institution that would compromise our ability to offer you independent advice and choice. 

General Insurance Services: Inception & Renewal

We provide advice in relation to the following general insurance products: Household, Motor (including Commercial & Fleet), Material Damage, Business Interruption, Public, Products and Employers Liability, Professional Indemnity, Clinical Trials, Medical Malpractice, libel & Slander, product recall, latent defect, Specialty, Legal Contingency, Marine.

Depending on your instructions we can advise you in relation to the products of the Insurance Companies and Product Producers with whom we hold appointments and we will work on your behalf to negotiate competitive renewal terms on your insurance cover.  

We will also offer assistance to you in relation to processing claims, on policies taken out through with our firm. This assistance is provided either directly by our staff and/or with the assistance of an appointed loss assessor.

Credit Finance

If you require credit terms, we may be able to arrange premium finance on your behalf, our list of Credit Finance appointments are listed in Appendix 1. Alternatively a monthly direct debit facility (if available) may be operated by the Insurance Company. We cannot accept instalments paid to our office. Your credit rating may be affected where premium finance is arranged independently of your Insurer. 

Financial Services:

LIFE ASSURANCE, INVESTMENTS & PENSIONS: Life Assurance companies and some Product Producers provide many products such as Life Cover, Serious Illness cover, Income Protection, Savings, Investments, Pensions and PRSA’s. Depending on your individual circumstances, we may provide you with advice in relation to the nature of these products and which product(s) may be suitable for your needs. You may, however, have particular areas of interest; in this case, we will be happy to give specific advice in these areas. We can give you a choice of different life and pension products from the Insurance Companies and Product Producers with whom we hold an appointment (a list of appointments is available on request). On your instruction; we can receive and transmit orders for such products on your behalf to these insurers and product producers. With your agreement, we may review the policies you take out on a periodic basis to ensure you are kept informed as to their benefit and to check whether they are still suitable for your needs. We will also provide assistance to you for any queries you may have in relation to the policies or in the event of a claim during the life of the policies. 


It is the policy of Murphy & Sheehy Insurances Ltd. to avoid any conflict of interest when providing business services to its clients. However, where an unavoidable conflict may arise we will advise you of this before proceeding to provide any business service. If you have not been advised of any such conflict you are entitled to assume that none arises 


We have a written complaints procedure for the effective handling of all complaints. We will acknowledge receipt of your complaint in writing within 5 working days. A written update will be issued to you every 20 days by a nominated individual within our firm. A comprehensive response to your complaint will be issued within 8 weeks of receipt of your initial complaint. In the event of failure to resolve your complaint you may raise the matter with the Financial Services Ombudsman Bureau Lo Call: 1890 88 20 90 enquires@financialombudsman.ie or the Pension Ombudsman.

Our full Complaints Procedure is available on request


Our firm will exercise its legal rights to receive payments due to it from clients for investment business services provided. In particular, without limitation of the generality of the foregoing, the firm will seek reimbursement for all payments made to insurers on behalf of clients where the firm has acted in good faith in renewing a policy of insurance for the client. Insurers and other product producers may withdraw benefits or cover in the event of default on payments due under policies of insurance or other products arranged for you. We would refer you to policy documents or product terms for the details of such provisions


It is your responsibility to provide complete and accurate information for Insurers when arranging an insurance policy and/or where a Statement of Fact is completed on your behalf. Failure to disclose any material information to your insurers could invalidate your insurance cover; all/or part of the claim may not be paid. 


When receiving and transmitting orders in relation to insurance policies Murphy & Sheehy Insurances Ltd may accept payment from clients payable to itself where an insurance undertaking has invited renewal of a policy of insurance, or the proposal for insurance has been accepted by an insurance undertaking. A Section 30 receipt is issued for all monies received. 


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 used only 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 products and services we may offer from time to time. If you do not wish to receive this information please advise us by email or in writing. 

You have the right at any time to request a copy of any ‘personal data’ within the meaning of the Data Protection Act 1988 (as amended or re-enacted from time to time) that our office holds about you and to have any inaccuracies in that information corrected 


We are members of the Investor Compensation Scheme established under Section 38 of the Investor Compensation Act 1998. The Act provides that compensation shall be paid to eligible investors (as defined in the Act) to the extent of 90% of an investor’s net loss or €20,000, whichever is the lesser and is recognised as being eligible for compensation. We are also members of the Irish Brokers Association (IBA) Compensation Fund. Subject to the rules of the scheme the liabilities of its members firms up to a maximum of €100,000 per client (or €250,000 in aggregate) may be discharged by the fund on its behalf if the member firm is unable to do so, where the above detailed Investor Compensation Scheme has failed to adequately compensate any client of the member. Further details are available on request


Murphy & Sheehy Insurances Ltd. cannot and do not guarantee the solvency of any insurer with whom we hold agency agreements. It should be noted that the financial position of an insurer may change after cover has been incepted. Claims or return premiums may arise under policies where one or more insurers sharing the risk may become insolvent or is delaying settlement. We cannot and do not accept liability for unallocated proportion.  Murphy & Sheehy Insurances Limited undertakes to use its experience and expertise in considering these and other factors deemed to be relevant before advising a client of availability of an insurance product. These considerations are by their nature subjective and they may involve the communication of sensitive or confidential information. In view of this our considerations are by their nature subjective and they may involve the communication of sensitive or confidential information. Our considerations will only be committed to writing when the client requests them in this format and where it is appropriate to do so.


General Insurance: Murphy & Sheehy Insurances Ltd may be remunerated by the Insurance Companies and Product Producers to whom orders are transmitted for new business, on renewal of existing business and/or based on the levels of business introduced; remuneration details are available on request. The firm will charge you a fixed fee or a percentage of the insurance premium and levies for the following services provided for the inception, renewal or mid-term alteration of:

  • Household: Up to a Max of €100
  • Private/ Commercial Motor : Up to a Max of €100
  • Commercial Business: Up to 30%
  • Claims Handling: €100.00 per hour 

On occasion we may need to charge rates different to the above depending on the complexity of the case in question; we shall advise you of these charges in advance and before business is transacted.

On settlement of your account, we will forward to you all documents showing ownership of your policy i.e. Motor Certificate & Disc and Policy Schedules. Where a series of transactions are involved, we will normally hold each document until the series is complete and then forward them to you.

Compliance charge 1%: this amount is applied to commercial policies and retained by us and is used to offset Central Bank charges and additional costs generated by compliance requirements and is included in total amount due.

Government levy 5%: this amount is collected from you and is passed to Government by Insurers and is included in total amount payable. Murphy & Sheehy Insurances Limited may receive commission from Product Financial Companies in respect of credit agreements.

Return Premiums

Murphy & Sheehy Insurances Ltd incurs significant administrative costs when processing return premiums for clients and we reserve the right to charge you a fee equivalent to 30% of the return premium amount. In accordance with the Consumer Protection Code, this will not be charged without your prior written agreement.

At your request a return premium may be put towards full/part payment of another premium due to us; we will, however, require your written instruction to do so.

Third Party Charges

Murphy & Sheehy Insurances Ltd may, on occasion, source your insurance needs through a Wholesale Broker, who may charge for their services. Any charges Levied by a Wholesale Broker will be disclosed in your Invoice, Endorsement or Renewal Notice.

Credit Intermediary: As a credit intermediary we may be remunerated by the premium/credit finance provider on arranging this finance on your behalf.

Financial Services: Murphy & Sheehy Insurances Ltd may be remunerated by the Insurance Companies and Product Producer to whom orders are transmitted. Summary details of these payments will be included in a product information document which you will receive before an application form for a product is completed, and extended details will also be included with your cooling-off letter.

Financial Services: Fee’s are not usually charged, but may be charged for complex cases or to reflect value, specialist skills or urgency. We will give an estimate of this rate in advance of providing you with our services. 

Where we receive recurring commission, this forms part of the remuneration for initial advice provided. We reserve the right to charge additional fees if the number of hours relating to on-going advice/assistance exceeds five hours. 

In certain circumstances, it will be necessary to charge a fee for services provided. In other circumstances where fees are chargeable, we will notify you in writing in advance and agree the scale of fees to be charged if different from fees outlined below. 

If we receive commission from a product provider, this will be offset against the fee which we will charge you. Where the commission is greater than the fee due, the commission will become the amount payable to the firm unless an arrangement to the contrary is made. 

Scale of Fees:

Consultantcy: €285 to €435 per hour depending on seniority / experience of staff member

Administration: €185 per hour depending on seniority / experience of staff member

Secretarial: €75 per hour 

Any outlay is in addition to the above. Presently there are no VAT implications for fees charged in relation to agency services. This may change in the future. 


It is in your best interest that you review, on a regular basis, the products which we have arranged. As your circumstances change, your needs will change. You must advise us of those changes and request a review of the relevant policy so that we can ensure that you are provided with up to date advice and products best suited to your needs. Failure to contact us in relation to changes in your circumstances or failure to request a review, may result in you having insufficient insurance cover and/or inappropriate investments