Quick Quotes Limited

PO BOX 9138 T +353 1 224 4000 College Green F +353 1 224 6022 Dublin 2 Settlement Agreement between the Financial Regulator and Quick Quotes Limited The Financial Regulator has entered into a Settlement Agreement with effect from 5 November 2009 with Quick Quotes Limited (‘the firm’) of 261 Crumlin Road, Dublin 12, a regulated financial service provider, in relation to breaches of regulatory requirements. The Financial Regulator has reasonable cause to suspect that breaches of regulatory requirements occurred in relation to the failure by the firm to comply with certain provisions of the Consumer Protection Code (the Code). These related in particular to the sale of general insurance products to customers, including the sale of motor insurance and household insurance. The Financial Regulator has reprimanded the firm and fined it €7,500. These breaches were discovered during the course of the Financial Regulator’s themed inspections into ‘Charges and Premium Rebates in the Insurance Intermediary Sector’ and relate, inter alia, to a failure by the firm to act in the best interests of its clients. The firm failed to comply with this requirement for the period from 1 April 2008 to 31 March 2009. The breaches relate inter alia to:  the firm overcharging fees in excess of those set out in the firm’s terms of business;  the failure by the firm to transfer rebates in full to consumers; and  the failure by the firm to operate Client Premium Accounts in accordance with Premium Handling Requirements of the Code.