Information on Remuneration

We, Frith Service Contracts Ltd trading as Brightside act as an intermediary between ancillary insurance intermediaries who sell you, the consumer,  the product and product provider with whom we place your business.

The Background

Pursuant to provision 4.58A of  the Central Bank of Ireland’s September 2019 Addendum to the Consumer Protection Code, all intermediaries, must make available in their public offices, or on their website if they have one, a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the intermediary which it has agreed with its product producers.

What is Remuneration?

Remuneration is the payment earned by the intermediary for work undertaken on behalf of both the provider and the consumer.  The amount of remuneration is generally directly related to the value of the products sold.

What is Commission?

Commission is payment that may be earned by an intermediary for work undertaken for both provider and consumer. Commission is usually paid as a percentage of the premium paid.

When and how do you pay?

The premium is a single premium and immediately due after purchasing the extended warranty.

Charge structure

Our Products are underwritten by AWP P&C S.A. – Dutch Branch, trading as Allianz Partners Europe, located at Poeldijkstraat 4, 1059 VM Amsterdam, the Netherlands, Corporate identification No 33094603. It is registered at the Dutch Authority for Financial Markets (AFM) No 12000535 and is authorised by L’Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France and authorised by the Central Bank of Ireland for conduct of business and administered in Ireland by Frith Service Contracts Ltd, Business Number 373654 (trading as Brightside), who is registered and regulated by the Central Bank of Ireland under No C51103

Brightside Cover does not sell directly to consumers. It receives a third-party administrator fee from ancillary insurance intermediaries for policies sold to consumers by those intermediaries. Brightside Cover’s fee is calculated on the product producer’s base rate for the risk. The ancillary insurance intermediaries set the price and sell the policy to the consumer. The pricing of the policy by the ancillary insurance intermediaries has no impact on the fees due to Brightside Cover and the product producer. From the proceeds, the base rate and third-party administrator fee is remitted to Brightside Cover who then remit the base rate to the product producer. From its fee Brightside Cover may pay an amount to other parties, including ancillary insurance intermediaries, who sell, introduce or refer our Products to customers.

If you would like more information about the remuneration that Brightside Cover receives, please call 01 866 6166 or email [email protected].

Other types of payment/remuneration

We may earn a non-monetary benefit which we will only accept if it enhances the quality of our service to you our client. For example: attendance at a product seminar or assistance with branding, IT support etc.