Terms of Business

We are authorised by the Financial Services Authority (FSA) to undertake insurance mediation. Our registration no. is 304354. You can check this on the FSA’s register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting them on 0845 606 1234.

We are an independent intermediary (broker) acting on your behalf. Our services include, assisting you with your insurance needs, arranging cover with insurers to meet your requirements and with any alterations necessary to the insurance we have arranged on your behalf. We place insurance with leading insurers, approved under UK legislation. We will advise you should we have any special arrangements with them., regarding issuing policies or claims handling.  

We subscribe to the FSA’s principles on Treating Customers Fairly. The main philosophy is that customers are entitled to the same degree of protection no matter what size of the firm they do business with.

Our Terms of Business gives you the promise that we will act fairly and reasonably in all our dealings with you in line with the Principles.

Duty of Disclosure
The duty of disclosure arises when you apply for a policy and also on each subsequent renewal, amendment of it, or claim form. You are therefore required to provide us with all information, whether it is favourable or otherwise as this information could affect the judgement of the prudent Insurer in estimating the Risk and setting the premium.If you are in doubt as to whether information is material, you should disclose it. If a misrepresentation or non-disclosure induced the Insurer to enter into the contract of insurance, this could lead to the contract being cancelled by the Insurer and accordingly no claim will be paid.

Terms of Payment
Our normal payment terms are:
New Policies: immediate payment prior to effective date of policy;
Renewals: due in full by renewal date.
If payment is not received from you by the renewal date, it  may result in the cancelling of the policy/policies.

Client Money
Client Money is money of any currency that we receive  and hold in the course of carrying on insurance mediation on behalf of our clients (including you) or which we treat as client money in accordance with the client money rules governed by the Financial Services Authority.
The agreements we have with our Insurers contain terms, which make clear that we hold money as their agent, which will ensure the money will be adequately protected to the extent that the premiums, which we receive, are treated as being received by the insurers/underwriters and claims money and premium refunds will only be treated as received by the client when they are actually paid over.
This company holds all client money in a designated Statutory Trust Account. Any interest earned on client money and any investment returns on any segregated designated investments is retained by us for our own use, rather than paid to you. This applies even if the interest earned exceeds £20 per transaction. This also meet the terms of the agreements we have with the insurers/underwriters. We would appreciate you confirming in writing that you are in agreement to your money being held in a Statutory Trust Account and any interest earned being retained by this company. We will provide you with the name of our bankers if you so wish.
Awareness of Policy Terms
When you receive the policy document, schedule and certificate of insurance you are advised to read them carefully. Please contact us if you are in doubt over any of the terms or conditions.

Remuneration
Our remuneration will either be a fee as agreed with you or commission which is a percentage of the premium paid by you or a combination of both, if applicable. Brokerage/fees are for the policy period and we are  entitled to retain all brokerage/fees in relation to policies placed by us.

Charges
We reserve the right to make charges in addition to the insurance premium for arranging, amending, renewing or cancelling any policy of insurance. Our charges are found in the Initial Disclosure  Document.

Payment to Third Parties
We may transfer client money to another person, such as another broker or settlement agent, in order to effect a transaction on your behalf.

Cancellation Clause
Your insurance contract may include a cancellation clause. A cancellation clause is mandatory for all none commercial customers. In the event that you fail to pay your premium by the due date, the insurance may be cancelled. In the event of cancellation of the insurance contract, insurers may return a pro rata premium to us, but you are advised to check your insurance policy for full details on the cancellation clause.

Claims Handling
When you notify us of a claim, we will inform you, if we or the Insurer will be dealing with it. We will inform you of the claims procedures.

Compensation
We are covered  by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the FSCS if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. On general insurance it is 100% of the first £2,000 plus 90% of the remainder of the claim. Compulsory insurance is protected in full. Full details and further information on the scheme are available from the FSCS.

Confidentiality and Data Protection
We observe the highest principles of integrity, professionalism and fair practice in maintaining the confidentiality and privacy of our customers. Client information and confidentiality of records are maintained in accordance with the Data Protection Act and good business practice. We are registered under the Act and we undertake to comply with the Act in all our dealings with your personal data. You have the right of access to any personal information we hold about you.

Law and Jurisdiction
These terms of business shall be governed by and construed in accordance with English law.

Hours of Business
Our normal hours of business are 8.30am to 5.30 pm Monday to Friday,
and 9.00am to 12.00 pm on  Saturday. These times exclude public
holidays.