Section 137 Non Resident Director Bonds

Section 137 Non Resident Director Bonds

With the UK now officially no longer part of the EU the transition period and provisions have commenced and will remain will be in place until 31 December 2020.

If no agreement is reached within the transition period or no extension is granted, then Irish registered companies with UK resident directors will be required to appoint an EEA resident director or obtain a Section 137 Bond or apply for Real and Continuous Link with the State.

A Section 137 Non Resident Director Bond is a surety bond provided for € 25,000 and lasts for a 2 year period. This bond must be provided to the Companies Registration Office ( CRO) as part of the filing of the company’s accounts.

The bond is a legal requirement and must be held in place once there is no EEA resident director in place.

MKIG can assist in the arrangement of a Section 137 Bond and please make contact with Fergal Kennedy fergal@mkig.ie or on 353 1 8902277 to discuss your options

New Vacancy at MKIG – Personal Lines Executive

Personal Lines Executive

Michael Kennedy Insurance Group is a well-established brokerage in Swords, North County Dublin with over 45 years’ experience. We are looking for a Personal Lines Executive with a minimum of 1 years insurance experience to join our company.

 

Responsibilities Include:

  • Issuing renewal documentation to clients and following up to ensure retention of the account
  • Issuing motor, home, marine & travel insurance new business quotations and closing sales
  • Servicing of accounts including mid-term alterations
  • Arrange finance where required for clients and responsibility for collecting premiums
  • Achieving personal lines renewal income and new business targets, including generating leads for personal and commercial lines where the opportunity arises
  • Dealing with client queries and providing excellent levels of service to our clients
  • Responsibility for own portfolio of clients
  • Adhere to Central Bank regulations at all times

 

Skills & Qualities Required:

  • Experience in a personal lines (minimum 1 year)
  • Excellent Knowledge of Personal Lines Market required
  • Excellent Organisational Skills
  • Good at problem solving
  • APA Personal, CIP or Grandfathered
  • Knowledge of Relay is a distinct advantage
  • Ability to work on own initiative and as part of team
  • Excellent communication and client service skills

 

MKIG is an equal opportunities employer and is regulated by the Central Bank of Ireland.

 

Please send Curriculum Vitae in Strictest Confidence to:

Mr. Fergal Kennedy

MKIG, The Plaza, Swords, Co. Dublin

fergal@mkig.ie

New Vacancy at MKIG – Claims Executive

Claims Executive

Michael Kennedy Insurance Group is a well-established brokerage in Swords, North County Dublin with over 45 years’ experience. We are looking for a Claims Executive with a minimum of 2 years claims and insurance experience to join our company.

 

Responsibilities Include:

  • Proactive dealing with all aspects of claims handling from notification to settlement
  • Handling all clients queries and providing excellent levels of customer service so that claims are dealt with as efficiently as possible
  • Ensuring clients are kept advised of all developments relating to their claim
  • Implement agreed claims handling procedures
  • Adhere to Central Bank regulations at all times

 

Skills & Qualities Required:

  • Experience in a claims environment (minimum 2 years )
  • Excellent product knowledge required
  • Very good negotiation and problem solving skills
  • Good Organisational Skills with the ability to work on own initiative and as part of team
  • Excellent communication and client service skills
  • CIP or Grandfathered and fully CPD compliant

 

MKIG is an equal opportunities employer and is regulated by the Central Bank of Ireland.

 

Please send Curriculum Vitae in Strictest Confidence to

Mr. Fergal Kennedy

MKIG, The Plaza, Swords, Co. Dublin

fergal@mkig.ie

Key Insurances for Company Directors

businessman-in-office-insurance-cover

Being an owner or director of a company is very onerous and invariably you will find that the owner / director puts the needs of their employees, customers, suppliers and pretty much everybody else before their own.

Most directors would not dream of trading without arranging insurance cover on their assets (Premises, Machines, stock, etc) or arranging Employers or Public Liability yet most will trade without arranging cover in respect of themselves.

We list below 3 policies which every owner and/or director should consider:

 

Income Protection

An income protection policy pays a benefit to the policyholder if they are unable to work due to accident, injury or sickness.

The benefit is paid after a number of weeks and lasts until the selected retirement date or until the policyholder returns to work whichever happens first.

In the event of being injured at work most owners will struggle to have an employers liability claim paid through the courts given they are highly likely to be the one who was in control of health and safety within the business.

Income Protection provides a guaranteed income for the owner / director of the company should they become unable to work due to any accident, injury or sickness whether work related or not.

 

Directors and Officers Liability

This policy provides cover to defend actions taken personally against Directors by numerous parties including the likes of Regulatory Authorities, Shareholders, Customers and even competitors.

Take for example the recent implementation of the new Companies Act 2014, which places greater responsibility on directors of companies and also provides a large range of enforcements that can be taken for breach of the Act.

This legislation permits that the directors can be sued personally as they can no longer hide behind the limited status of the company.

A Directors and Officers policy provides protection for the directors and officers of the company should they be sued personally.

 

KeyPerson Insurance

Should a keyperson within the business get ill or die how would the company survive ? They may have to hire somebody temporarily to run the company or they may have to “headhunt” an individual and pay them a sum of money over and above what they are currently paying to replace the individual who has died or is incapacitated.

A Keyperson Life and Serious Illness policy can be taken out by the company on certain key individuals. The benefits are paid to the company who can then use it as they see fit. ( e.g. pay the costs of temporary staff or fund increased salary of new staff, etc.)

 

Should you wish to discuss any of the above in greater detail please have no hesitation in contacting us on (01) 890 2277.

 

Our Monthly Renewal & Referral Draws

Our Monthly Renewal & Referral Draws

one4all-card-with-logo

Here at MKIG we appreciate our clients’ custom.  Any client who renews their policy are entered into our “renewal monthly draw” where the prize on offer is a €50 One4All voucher. Winners are also announced in our newsletter and on our Facebook and Twitter social media pages. Please make sure you connect with us (by clicking on the links below) to find out if you have won and to keep up to date with our news and events:

https://www.facebook.com/mkiginsurance

https://twitter.com/kennedyinsuranc

 

Please see a list of our winners below:

 

Sep 15             Nora Ni Loingsigh

Oct 15             Bellane Limited

Nov 15             Sarah McManus

Dec 15             Stuart Russell

Jan 16              Creative Housing

Feb 16             Bart Nolan

Mar 16            Rialto Foodmarket

Apr 16             Jackie Boardman

May 16            Susan Condron

Jun 16              Martin Sheerin

Jul 16               Charlie Grendon

Aug 16             Linmer Mgt

Sep 16             Michael Howard

 

A referral remains the best compliment we can receive.  As a thank you to clients for passing on our name to their family, friends and colleagues we also enter the client into a “quarterly referral draw” where the prize on offer is a €50 One4All voucher.

Please see a list of our winners below:

Quarter 3 15       Frank Doran

Quarter 4 15       Gene Clancy

Quarter 1 16       Qing Yang Tang

Quarter 2 16       Art McCoey

Quarter 3 16       Mick Joyce