Terms of Business

These Terms of Business are effective from 01/04/2026 and replace all previous versions.

They set out the general terms under which Richard Durkin t/a Devaney & Durkin ("we", "us", "the firm") will provide business services to you, and the respective duties of the firm and of you in relation to those services. Please read them carefully. If you have any queries, we will be happy to explain them.

Contact us

1 Ontario Terrace, Portobello Bridge, Rathmines, Dublin 6, D06 H2W9 Tel: (01) 496 4022 · Email: richard@devaneyanddurkin.com · Web: www.devaneyanddurkin.ie

Authorisation with the Central Bank of Ireland

Richard Durkin t/a Devaney & Durkin (Central Bank reference C31831) is regulated by the Central Bank of Ireland. We are registered as an insurance intermediary under the European Union (Insurance Distribution) Regulations 2018, and authorised as an investment intermediary under the Investment Intermediaries Act 1995 (as amended).

Copies of our regulatory authorisations are available on request. You can verify our credentials on the Central Bank's registers at www.centralbank.ie or by phoning the Central Bank on 0818 681 681.

Codes of conduct

We are subject to the Consumer Protection Code, made up of the Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Consumer Protection) Regulations 2025 and the Central Bank Reform Act 2010 (Section 17A) (Standards for Business) Regulations 2025. We are also subject to the Minimum Competency Code and Minimum Competency Regulations 2017, the Central Bank's Fitness and Probity Standards, and the Prudential Requirements for Investment Intermediaries. These codes offer protection to consumers and can be found at www.centralbank.ie.

Regulated Services

These terms apply to our insurance and investment intermediary services, which are regulated by the Central Bank of Ireland.

Our services and the basis of our advice

We provide advice on, and arrange, life assurance, specified illness cover, income protection, unit-linked savings and investments, tracker bonds, pension plans and Personal Retirement Savings Accounts (PRSAs).

We hold letters of appointment with the product producers listed in the Schedule at the end of these terms. We will use each provider where appropriate and most suitable to your requirements and needs.

We do not provide general insurance, mortgage or other credit intermediary services.

Sustainability disclosures

These disclosures are made under the Sustainable Finance Disclosure Regulation (EU) 2019/2088 (SFDR) and apply to our advice on investments, insurance-based investment products and pensions.

Integration of sustainability risks

A sustainability risk is an environmental, social or governance event or condition which, if it occurs, could cause an actual or potential material negative impact on the value of an investment. When advising you, we assess relevant sustainability risks in addition to relevant financial risks, to the extent that information is available for the products concerned.

We do this by reviewing the sustainability information that Irish Life Assurance plc, Aviva Life & Pensions Ireland DAC (formerly Friends First Life Assurance Company DAC), Cantor Fitzgerald Ireland Limited, New Ireland Assurance Company plc, Zurich Life Assurance plc, Royal London and Standard Life; publishes for each product and fund, including its pre-contractual SFDR disclosures, and by raising queries with them where needed. We discuss your sustainability preferences with you as part of assessing the suitability of our recommendation.

Likely impact on returns

Based on the product documentation published by Irish Life Assurance plc, Aviva Life & Pensions Ireland DAC (formerly Friends First Life Assurance Company DAC), Cantor Fitzgerald Ireland Limited, New Ireland Assurance Company plc, Zurich Life Assurance plc, Royal London and Standard Life; we consider that sustainability risks may affect the returns of the funds on which we advise, and that the degree of impact varies by fund and asset class. The fund-specific information is set out in the product documentation you will receive before you take out a product.

Remuneration policy

Our remuneration policy is consistent with the integration of sustainability risks and does not encourage excessive risk-taking with respect to sustainability risks.

Remuneration

How we are paid

We are paid by commission from product producers on the completion of business, by fees paid by you, or by a combination of the two. Commission is included in the charges of the product you take out. You may choose to pay for our services in full by fee instead.

Before you apply for a product, you will receive a product information document setting out, in its Customer Information Notice section, the commission and other payments we will receive. A summary of all arrangements for any fee, commission, other reward or remuneration that we have agreed with product producers is available in our office and on our website, www.devaneyanddurkin.ie.

Fees

Where we charge a fee, we will tell you in writing before providing the service, and agree the fee with you. Where the exact amount cannot be given in advance, we will tell you how it will be calculated. Our current hourly rates are:

Where agreed prior, we receive commission from a product producer, it will be offset against the fee we charge you. Where the commission is greater than the fee due, the commission will be the amount payable to us unless we agree otherwise with you.

Personal Retirement Savings Accounts (PRSAs)

Where you ask us to advise on a PRSA, the hourly rates above apply. Any commission we receive on the PRSA will be offset against our fee in the same way.

Ongoing remuneration

Where a product carries ongoing (trail or renewal) commission, it is paid to us by the product producer for as long as we remain your adviser on that product. It is calculated as a percentage of your premiums or of your fund value, as set out in your Customer Information Notice. It pays for our ongoing service on that product, which includes answering your queries, processing changes and claims, and the reviews described in the Ongoing suitability and reviews section below.

Non-monetary benefits

We accept only minor non-monetary benefits from product producers and only where they enhance the quality of the service we provide to you. We do not accept any benefit that would impair our duty to act in your best interests.

Clawback

If we have offset commission against a fee you would otherwise have paid, and the product producer later claws back that commission because you cancel, encash or transfer the product early, we will charge you a fee equal to the commission clawed back. We will tell you before you take out the product if clawback could apply.

Ongoing suitability and reviews

Insurance-based investment products and investments

We will provide you with a periodic assessment of the suitability of any insurance-based investment product or investment we have recommended to you. We will do this at least once a year, and will give you a written statement of whether the product remains suitable for you.

Regular reviews

It is in your interests to review the products we have arranged for you regularly. As your circumstances change, your needs will change, and you may find you have insufficient cover or unsuitable investments. Please tell us promptly about any change in your circumstances so that we can make sure our advice remains up to date.

Claims and policy queries

We will help you with any query about your policies and with any claim during the life of a policy. We will explain the restrictions, conditions and exclusions that apply to your policy. It is, however, your responsibility to read the policy documents, literature and brochures so that you understand the nature of your cover.

For income protection (permanent health insurance) policies, we will explain:

1. the meaning of disability as defined in the policy;

2. the benefits available under the policy;

3. the general exclusions that apply; and

4. the reductions applied to the benefit where you receive disability payments from other sources.

For specified illness policies, we will explain clearly the restrictions, conditions and general exclusions that apply.

Your duties and rights under the Consumer Insurance Contracts Act 2019

This section applies to you if you are a consumer within the meaning of the Consumer Insurance Contracts Act 2019. It does not apply to business or commercial clients.

Duty of disclosure

You must answer all questions asked by us or the insurer honestly and with reasonable care. Before your policy is renewed, the insurer will ask you specific questions, which you must also answer honestly and with reasonable care. If you do not give new information when asked, the insurer may presume that the information you gave before is unchanged.

If you do not answer honestly and with reasonable care, the insurer may be entitled to rely on proportionate remedies for misrepresentation. These include reducing a claim payment or, in some cases, voiding the policy. If a policy is cancelled by an insurer for any reason, including non-payment, you may find it harder to obtain insurance in the future.

Proposal forms and statements of fact

We will give you a copy of your completed proposal form or statement of fact. It forms the basis of your contract with the insurer, so please check that every answer in it is true and accurate, and tell us straight away if anything is wrong.

Your right to cancel

You may cancel a life assurance policy by giving written notice to the insurer within 30 days after the date you are informed that the policy has started. This right does not apply to a life assurance policy with a duration of six months or less.

Cancelling within this period releases you from any further obligation under the policy. The insurer cannot charge you anything other than the premium for the period you were on cover.

To cancel at any other time, please write to us or to the insurer (by letter or email). Your cancellation takes effect when the written request is received. Cancelling a policy outside the cooling-off period may result in a reduced or nil surrender value.

Paying your premium

You must pay your premium within a reasonable time, or otherwise as set out in your policy terms.

Claims

• You must notify the insurer of a claim within a reasonable time, or otherwise as set out in your policy terms.

• You must cooperate with the insurer's investigation of a claim, and respond to reasonable requests for information honestly and with reasonable care.

• If, after making a claim, you become aware of information that would support or prejudice it, you must disclose it. The insurer has the same duty.

• An insurer may refuse a claim where the risk insured has changed so much that it has effectively become a risk the insurer did not agree to cover. A clause referring to a "material change" means a change that takes the risk outside what you and the insurer reasonably contemplated when the policy began.

• If you make a claim you know to be false or misleading in any material respect, or are reckless as to whether it is, the insurer may refuse to pay it and terminate the policy. The insurer may treat the policy as terminated from the date of the fraudulent act, refuse any later claim and keep the premiums paid.

A court can reduce the amount paid to you in proportion to any breach of your duties under the Act.

Conflicts of interest

It is our policy to avoid conflicts of interest when providing services to you. Where an unavoidable conflict arises, we will tell you in writing before providing the service, and will take all steps within our control to manage it and minimise its impact on you. If we have not told you of a conflict, you are entitled to assume that none arises.

Richard Durkin, Partner, is responsible for managing conflicts of interest. A full copy of our conflicts of interest policy is available on request.

We have no profit-share arrangements with any product producer.

Shareholdings

Neither the firm nor its partners hold, directly or indirectly, 10% or more of the voting rights or capital of any insurance undertaking. No insurance undertaking, or parent of an insurance undertaking, holds 10% or more of the voting rights or capital of the firm.

Default on payments

We will exercise our legal rights to recover any fees or other payments due to us from you for services provided.

Product producers, including Irish Life Assurance plc, may withdraw benefits or cover if you default on payments due under a product arranged for you. The details are set out in your product terms and conditions.

Complaints

You may make a complaint to us in writing, by letter or email, or orally. If you complain orally, we will offer you the option of having it dealt with under our complaints procedure.

We will:

1. acknowledge your complaint in writing within 5 business days of receiving it;

2. investigate it fully and as quickly as possible;

3. update you in writing at intervals of not more than 20 business days, starting from the date of your complaint;

4. aim to resolve it within 40 business days of receiving it; and

5. give you a written response setting out the outcome of our investigation and, where relevant, any offer we are making.

If you remain dissatisfied with how we have handled or responded to your complaint, you may refer it to the Financial Services and Pensions Ombudsman, Lincoln House, Lincoln Place, Dublin 2, D02 VH29. Tel: 01 567 7000 · Email: info@fspo.ie · Web: www.fspo.ie.

Investor Compensation Scheme

We are a member of the investor compensation scheme operated by the Investor Compensation Company DAC (ICCL) under the Investor Compensation Act 1998.

Compensation may be payable where money or investment instruments owed to or belonging to clients, and held, administered or managed by the firm, cannot be returned to those clients, and there is no reasonably foreseeable opportunity of the firm being able to do so. A right to compensation arises only if you are an eligible investor as defined in the Act, the firm cannot return your money or investment instruments, and your loss is recognised for the purposes of the Act.

Where a right to compensation is established, the amount payable is the lesser of 90% of your recognised loss or €20,000. For further information, contact the ICCL on (01) 224 4955.

Customers in vulnerable circumstances

If you have a health condition, disability, life event or any other circumstance that affects how you would like us to deal with you, please let us know. We will take reasonable steps to adapt how we communicate with you and provide our services, so that you can make informed decisions.

Data protection

We comply with the General Data Protection Regulation (EU) 2016/679 and the Data Protection Act 2018. The data you give us is held on computer and paper files for the purpose of arranging transactions on your behalf. It will be passed to the relevant product producers with whom we hold agencies, for the purpose of arranging transactions agreed with you.

Your data will be processed only in ways compatible with the purposes for which it was given and as set out in our Data Privacy Notice, which is given to you when we collect your data and is available on

our website. We will use it only to provide you with our services, to meet our legal and regulatory obligations and for legitimate business reasons.

From time to time, and only with your consent, we may send you information about other financial products and services we provide which we think may interest you. You may withdraw that consent at any time.

You have the right to request a copy of the personal data we hold about you and to have any inaccuracies corrected. Please contact richard@devaneyanddurkin.com with any query about your personal data.

Schedule: product producers with which we hold letters of appointment

Devaney & Durkin