Client Premium. The Intermediary is expressly authorised to act as an agent for Thomond for the purpose of receiving from Proposers/Policyholders premium payments in connection with the issue, endorsement or renewal of any policy of insurance, and receiving and holding any premium refunds due to Policyholders. The Intermediary shall hold such payments in trust for and on behalf of Thomond in a separate account designated for that purpose. When we receive your money (either premiums or claims), if insurers allows risk transfer, we hold it as their agent. This means that the insurer is deemed to have received those monies (such as premium paid by you) on the date upon which the monies are received by Thomond Underwriting. Whether we hold your money as agent of the Insurer or not, all your money is held in our Client bank account, separate from Thomond’s own money,
Client Premium. The Intermediary is expressly authorised to act as an agent for Thomond for the purpose of receiving from Proposers/Policyholders premium payments in connection with the issue, endorsement or renewal of any policy of insurance, and receiving and holding any premium refunds due to Policyholders. The Intermediary shall hold such payments in trust for and on behalf of Thomond in a separate account designated for that purpose (in accordance with the Central Bank Consumer Protection Code). When we receive your money (either premiums or claims), if insurers allows risk transfer, we hold it as their agent. This means that the insurer is deemed to have received those monies (such as premium paid by you) on the date upon which the monies are received by Thomond Underwriting. Whether we hold your money as agent of the Insurer or not, all your money is held in our Client bank account, separate from Thomond’s own money.
Client Premium. The Intermediary is expressly authorised to act as an agent for Thomond for the purpose of receiving from Proposers/Policyholders premium payments in connection with the issue, endorsement or renewal of any policy of insurance, and receiving and holding any premium refunds due to Policyholders. The Intermediary shall hold such payments in trust for and on behalf of Thomond in a separate account designated for that purpose.
