JOEDOYLE.IE
Insurance Updates & F.A.Q's
Hi there
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Thank you for visiting my web page to get some information about our new insurance scheme for self employed tradesmen. To hear the full story about progress so far please read the following few paragraphs. If you have some questions please skip towards the bottom of the page and read the FAQ section where your question should be answered. If your question is not answered just drop an email to direct@joedoyle.ie.
The story so far….
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In June 2025 I decided to action a plan that I had in mind for a good few years. The plan here is that I would set up a self insured venture so self employed tradesmen where they as the customers who hold their insurance with this entity would also become the shareholders. The plan would be that my company would hold a majority 51% of the shares and the remaining 49% would be owned collectively by the policy holders.
To achieve this goal it is required to break the project down into two phases. The first phase being that we need to get 1,000 self employed tradesmen to agree to place their insurance with 1 particular insurance company, via our chosen broker so that everyone is in the one place from an insurance perspective. Once we have the 1,000 business owners insured in the one place it will be a lot easier to move these guys to our own entity once we get established. Phase 1 involves simply placing the insurance with a pre-existing mainstream insurance company.
As soon as Phase 1 is complete we can then begin Phase 2 of the process. At this point in time this piece has not been completely worked out in terms of the legal format of the insurance entity, but we will keep you posted as this progresses.
The main thing for now is that we get all these guys on cover. All businesses are placed in 1 of 3 categories as follows:
1 = Interested not yet opted in, this means the business owner has said they are interested in getting involved but has not yet submitted their business to the list
2 = Opted In, this means the business owner has said they are interested in getting involved and has NOW submitted their business to the list
3 = On cover, this means the business owner is now on cover with our nominated broker and will be changing over to our entity in due course.
At time of writing we have the following number of businesses in each category:
Interested buy not yet opted in = 161
Opted In = 875
On Cover = 94
(There's numbers are changing on a daily basis, so we will keep updating them regularly correct as of 04/09/25)
The share allocation piece has also not been fully worked out at this point in time as we are still completely caught up with phase 1. However here is an outline of how it works:
Once you go on cover with our broker as part of the first 1,000 clients you will get a document called a ‘Share Entitlement Document’ . This is confirmation in writing from me, that you will be entitled to shares in the new entity once it is established in the near future. The Share Entitlement Document is a promise from me to you that you are now included as part of this scheme and you will get the shares issued to you in due course.
The share entitlement document is not a legal document, whereas the share document that you will receive in due course is a legal document, however due to the fact that we do not have the entity established we cannot issue shares in an entity that is not established and we also have yet to decide what the exact legal structure of the entity will be.
For now we will continue on this journey and will keep you updated on progress. We currently have a waiting list available if you would like to add your business to the list and avail of this exciting new opportunity. To add your business to the waiting list please fill in click this link and submit your details.
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