Terms Of Business - Customer Charter


Please read this document carefully because it sets out the terms on which we act for you and it gives details of our regulatory and statutory responsibilities.

We are authorised and regulated by the Financial Services Authority (FSA) and our reference number is 305757, we are bound by their rules. You can check this on the FSA register by contacting them on 0845 606 1234 or visiting their website www.fsa.gov.uk/register. This authority gives permission for us to advise you on General Insurance Products including: -

Arranging deals (policies) on non-investment contracts (general policies)
Making arrangements with a view to transactions in non investment insurance contracts (holding agencies with insurers)
Deal as agents in non-investment insurance contracts.
Assisting in the administration and performance of non investment insurance contracts (claims administration and settlement negotiation)

Product Selection

Advice and recommendation will be given to you after assessing your needs. We shall: -

Select products from a range of insurers for retail and commercial clients.
We have a binding authority in respect of FARMWEB for Farm Combined and Farm Fleet Insurance underwritten by NIG and Talbot Insurance at Lloyds for Livestock and Livestock Disease and may use this scheme if suitable for your needs. Regarding Business Combined Insurance we have binding authority with Brit Insurance and will recommend this if suitable for your needs.

Only deal with products from Uninsured Loss Recovery Services for Motor Legal Expenses cover.
Only deal with Talbot Insurance at Lloyds for livestock disease insurance.
Only deal with breakdown cover through MMA via the RAC scheme.

Charges

Our income is derived from commission, brokerage or other remuneration paid by the insurers or fees that will be agreed with you before conclusion of the contract.
We reserve the right to make charges in addition to any insurance premiums, for the arranging amending, renewing and cancelling any policy of insurance. These charges are at our discretion and will be shown in all correspondence with you. A charge of up to £30 per policy may be made for new business and renewals and £15 for mid term adjustments.
We make a mid term cancellation charge of £50 (per policy) for a term of up to 6 months and £30 thereafter.

Cooling Off

We will give you enough information and help so that you can make an informed decision before you make a final commitment to buy your insurance policy. However in respect of retail business only, you will have 14 days to change your mind and cancel the insurance contract from the date you receive the policy document. A charge may be made for the time the policy was in force. The period applies for 14 days from receipt of this letter and details of the contract terms and conditions, or from inception date of the policy whichever is later.

Listening to our clients

If you have a complaint about the advice you receive or a product you have bought, please contact a director at the address shown on this document. If following our subsequent investigation and response you are still not satisfied you may contact the Financial Ombudsman Service. Full details will be sent with our acknowledgement letter.
You are protected by the Financial Services Compensation Scheme and may be entitled to compensation from the scheme if we cannot meet our liabilities to following a complaint. This depends on the type of business and the circumstances of any claim. Full details are available on request at any time from this office. Eligible complainants are covered for 100% of the first £2000 and 90% of the remainder. For compulsory classes of insurance the cover is for 100% of the claim.    

Disclosure of Material Facts

You must disclose any material facts at inception, renewal and during the currency of your insurance contract. If you are aware of any facts or circumstances that may affect an insurer’s assessment of the risk, you should let us know as soon as possible. If in doubt as to whether a fact is material or not, please contact us to discuss the matter. The consequences of not disclosing material facts are that your policy may not be valid and claims may not be paid.

Accounting Procedures

We are not authorised (by choice) by the Financial Services Authority to handle money that is paid by the client. However we are authorised to handle money on behalf of the insurer paid by clients. Please see “Acting as agent of the Insurer”.

Acting as agent of the insurer

Sometimes we will act as an agent of the insurer for the collection of premiums and payment of claims and refunds of premiums. This means that premiums are treated as being received by the insurer when received in our bank account and that any claims money or premium refund is treated as received by you when it is actually paid over to you. There are occasions where such transactions are restricted (for example, to receiving premiums only) and we will tell you if this is the case.

Other Taxes and Costs

Other taxes or costs, or both, may exist in relation to the products and services offered by us, which are not paid through, nor imposed by us.

Interest on Insurer Money

No interest will be paid to retail clients upon single transactions unless it exceeds £20 after 25 working days at the standard rate offered by National Westminster Bank PLC for deposits at call. 

Transferring insurer monies to third parties

Your policy may be arranged directly with an insurer or through another intermediary, each of whom will be authorised and regulated by the FSA.

Disclosure of Commission (Commercial Customers)

Prior to the conclusion of each insurance contract, or upon renewal, we will remind you of your right to be advised of the level of commission that we receive from underwriters. This Terms of Business Document serves as that reminder.

Conflicts of Interest

There may be occasions when a potential conflict of interest arises. If this happens we will inform you and obtain your consent before we carry out your instructions.

Claims

In the event of a claim please report all incidents to our office as soon as possible (even if you do not think you are to blame) or if our office is closed, report your incident to the insurer (details will be within your policy documentation). Please forward to us any documents or correspondence you receive. Do not reply to these yourself as it may prejudice your claim.

Data Protection

All personal information about you will be treated as private and confidential. We will only disclose information about you in the normal course of arranging and administering your insurance, and will not disclose information to other parties without your consent.
We may use information we hold about you to provide details about other products and services that we feel may be appropriate.

Under the Data Protection Act 1988 you have the right to see personal information about you that we hold in our records. If you have any queries please contact our office. 

 

Version 4 :  06 April 09