TERMS OF BUSINESS DOCUMENT

OUR STATUS
We represent a number of insurers and are able to arrange insurance on your behalf as an Independent Intermediary and accept responsibility for the advice we give. We are registered by the Financial Services Authority, and our authorisation number is 304555.
With regards to Legal Protection, we only offer one policy, underwritten by IGI Insurance Company Ltd.

Our Services to you:
Our service includes advising you on your insurance needs, arranging your insurance cover with insurers to meet your requirements and helping you with any on going changes you have to make for as long as we act for you as your appointed insurance broker.
We will also provide:

If required we can also offer advise on risk management, assistance with claims and advice on health and safety matters.

Confirmation of Cover
We will provide you with cover notes and/or written confirmation that cover has been incepted and the terms as well as the Insurers involved. We will forward these to you within fourteen days of cover being incepted.
You must review all information upon receipt and advise us immediately if any details of the cover or the Insurer involved do not meet with your approval or do not reflect the instructions previously given to us.
It is your responsibility to ensure that the insurance has been arranged on the correct terms.

Transferred Business
If we take over the servicing of a policy that was previously through another intermediary we do not accept liability for any errors, omissions or gaps in cover arranged until such time as we have been able to carry out a full review of your requirements which may not be until the next renewal date.

Insurer Security
We only seek to place insurance with Insurers that we feel meet solvency requirements unless you instruct us to the contrary. However, we cannot and do not guarantee the solvency or continuing solvency of any insurer used and you should note that the financial position of an Insurer can change after cover has been incepted.

Claims
It is essential that claims or circumstances that could give rise to a claim are notified immediately. Some Insurers provide claims help-lines, details of which are included within your policy. Such notifications should include all material facts concerning the claim. Failure to do so may entitle Insurers to repudiate payment.
Where agreed we will provide a claims handling service for as long as you remain our client in order to give you guidance in the pursuit of the claim under the terms of the policy arranged.

Retention of Documents
We will maintain records of the Insurance Contracts arranged on your behalf in accordance with best practice within the insurance industry, which is usually six years. Records may be destroyed after this period. We provide this service free of charge providing you remain our client. However you should retain all confirmation of cover and policy documents for as long as a claim is possible under the relevant policy and in accordance with statutory requirements.

Data Protection and Confidentiality
We will treat any personal or other information received by us from you or about you with the utmost respect and where appropriate in accordance with data protection legislation including the Data Protection Act 1998 and such other legislation as may become applicable.
Information provided by you or which is obtained from other sources in the course of our dealings with you may be used by us to facilitate the provision of our services.
Under the Data Protection Act 1998 you are entitled to a copy of your personal data held by us on request and a payment of a small fee.

COMPLAINTS
We endeavour to offer the highest level of customer service, however, if you are unhappy with your insurance in the first instance, please contact either by phone or writing:
Simon Rutter, The Complaints Officer, Trust Insurance Services, The Kingsfield Centre,         8 Brookfield, Duncan Close, Moulton Park, Northampton, NN3 6WL.
We undertake to acknowledge your complaint within 5 business days and provide a final response within 20 days. .
If after making your complaint you are still unhappy you can refer your complaint to:
The Financial Services Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR.
We also maintain Professional Indemnity Insurance to enable us to meet any liabilities that may arise on us in respect of our obligations to you for services performed on your behalf.

Charges and Termination
Charges may be incurred dependant on the Insurance Company or Lloyds Syndicate that is used and the amount of work that is involved and this will be included within our quoted figure to you and advised at time of quotation. Any Mid-Term adjustment would incur an administration charge again dependant on work involved and the Company concerned and this will be advised at the time of quotation.
Should you decide to cancel we would advise that certain policies do not provide a return premium under the terms of the policy and we strongly suggest you contact us so that we can advise you of the position.
In the event of termination we will be entitled to retain all fees and brokerage payable.

Premiums and Financial Aspects
You may be able to spread the payment of your premium over instalments through Premium Credit Finance. We will give full details of this option when we discuss your insurance in detail.

Risk Transfer
Premiums we collect from you are held in an insurance broking clients account used only for the purpose of holding clients premiums. We have agreements with insurers where we collect premiums as agent for the Insurer. Therefore, once we have collected premiums from you, under the terms of our agreements with Insurers those premiums are treated as having been paid to the insurer. We will remit the premiums to insurers, after deduction of our commission, in accordance with the terms of our agreement.

Segregation of Client Money
Premiums that we collect from you will be segregated into and held in a Client Money Bank Account. The client money will be held by us as trustee on your behalf. The Client Money Account is set up as a trust governed by F.S.A. rules. This means that once the client money is segregated into the Clients Money Bank Account, it falls into our legal ownership but remains in the beneficial ownership of customers whose premiums are deposited in the Account. If we become insolvent, the terms of the trust dictate that customers will have prior claim on the client money in the Account according to their respective interest in the client money. The costs relating to the distribution of client money may have to be borne by the trust.

Remuneration
We are normally remunerated for arranging the insurance in the form of commission paid to us by the insurer. In the event that the policy in question is “net” rated (no Commission) an arrangement fee would be imposed. We do reserve the right to charge for any policy amendment or cancellations dependant on policy concerned.
Our quoted figures will always include the total cost to you inclusive of any arrangement charge and Insurance Premium Tax applicable.

Third Party Rights
These terms of business exclude and rights, which may be conferred upon third parties by the Contracts (Third Party Rights) Act 1999

Legal Governance
These terms and conditions of Business are governed by and shall be construed in accordance with the laws of England and Wales and in the event of any dispute the parties shall submit to the jurisdiction of the English Courts. 

YOUR OBLIGATIONS

Instructions
We prefer that your instructions be given to us in writing by letter facsimile or e-mail in order to avoid any misunderstandings about the cover you have requested. In urgent cases we will of course accept verbal instructions but we request that they be confirmed in writing.

Proposal Forms
With certain classes of insurance we will have to ask you to complete a proposal form. We will provide advice or assistance although we cannot complete the form for you.
In the case of a Statement of Fact please check the details carefully.

Duty of Disclosure
We remind you of your obligations to disclose all material information whether or not proposal forms are applicable or completed.
Information is material if it would have an effect on the mind of a prudent Insurer in fixing the premium or determining whether they will take the risk. There is no duty on the insurer or us to make enquiries and the burden of disclosure falls upon you as the proposer. This duty arises when the policy is first taken out and on each subsequent renewal or amendment of it.
If any material information is omitted or misrepresented, Insurers have the right to void the policy or return the premium. The effect of this is that there is no longer an insurance policy and no claim will be paid.

Policy terms, conditions and warranties
You should read through all policy terms, conditions and warranties shown on your policy documentation. Please ensure that you understand them and are able to follow their requirements exactly. If not, please advise us immediately, as a breach of any terms, conditions or warranties may enable your insurers to terminate your policy from the date of that breach, and/or repudiate a claim under your policy.

Settlement Terms
We will issue invoices for all new, renewal and mid-term adjustment premiums.
You will be responsible for paying promptly normally within Seven Days to enable us to make the necessary payment to insurers, or completion of premium instalment documentation is you prefer to finance payments due.
For the avoidance of doubt we have no obligation to fund any premiums, duties, fees or taxes on your behalf and have no responsibility for any loss you may suffer as a result of late payment.

Yours faithfully,

Trust Insurance Services Ltd