TERMS OF BUSINESS DOCUMENT

OUR STATUS

We Trust Insurance Services Ltd, Trust House, 1 Scirocco Close, Moulton Park, Northampton, NN3 6AP 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 authorised and regulated by the Financial Conduct Authority, and our authorisation number is 304555 which you may check on the FCA register by visiting the FCA website or by contacting the FCA on 0845 606 9966. With regards to Legal Protection, we only offer one policy for motor insurance underwritten by AM Trust Europe Ltd, for general commercial the policy is underwritten by ARAG plc. 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:

  1. Provide adequate information in a timely and comprehensive manner to enable you to make an informed decision about the insurance being proposed at inception or renewal.
  2. Give an explanation to you of the differences in and the relative cost of the types of insurance that we think will suit your needs based on the information you have supplied.
  3. Explain the main features including the essential cover and benefits and any significant or unusual restrictions exclusions conditions warranties or other obligations and the period of cover.
  4. Advise why we are unable to match your requirements if this occurs and we will explain the differences between those requirements and the insurance we are proposing.
  5. Invite your renewal with the most appropriate insurer and (before your renewal date) send details to you in writing, including the premium payable and the terms and conditions for your consideration. You will need to let us know if you wish to go ahead with the renewal and agree payment terms prior to the renewal date. Unless specified on your renewal invitation, should we not hear from you, the policy will lapse on the expiry date and you will have no cover after that date.
  6. If the contract provided has not been selected on the basis of a fair analysis of the market, you may request a copy of the list of the insurers that we select from or deal with in relation to the contract provided.
  7. 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.

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 FCA. 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.

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.

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.

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 or renewal. 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. Credit Card payments will be subject to a charge of 1.6%. Our administration charge on Mid-Term adjustments and cancellations is £35.00. 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.

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

Financial Crime, Bribery & Corruption

All regulated firms are required to comply with the requirements of the Proceeds of Crime Act 2002, Terrorism Act 2000, Bribery Act 2010 and Money Laundering Regulations 2007. The company has a zero tolerance policy towards bribery and/or corruption. Should there be suspicion that any party to this agreement is engaged in prohibited activity; The Company has the right to report to the relevant authorities without notice and terminate this agreement.

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.

Proceeds of Crime Act (POCA)

Under the POCA we may need to obtain evidence of the identity of our clients. For individuals this could be a evidenced by a passport or utility bill or for companies this could comprise of a certificate of incorporation, list of directors or shareholders and the registered address. If there is any evidence or suggestion of suspicious transaction then we are obliged to report this to the National Crime Intelligence Service.

COMPLAINTS PROCEDURE

We are dedicated to providing you with a high quality service and we want to ensure that we maintain this at all times. If you feel that we have not offered you a first class service or you have any questions or concerns about your policy or the handling of a claim you should in the first instance contact your broker or intermediary.

In the event that you remain dissatisfied and wish to make a complaint you may do so in writing or verbally by using the contact details below:

Compliant Officer
Trust Insurance Services Ltd
Trust House, 1 Scirocco Close
Moulton Park, Northampton, NN3 6AP

Tel: +44 (0)1604 492644
Email: rudi@trustinsurance.co.uk

The Financial Ombudsman Service (FOS)

Should you be dissatisfied with the outcome of your complaint, you may have the right to refer your complaint to the Financial Ombudsman Service. The FOS is an independent service in the UK for settling disputes between consumers and businesses providing financial services. Contacting the FOS does not affect your right to take legal action.

The FOS’s contact details are as follows:

Financial Ombudsman Service
Exchange Tower
London E14 9SR

Email: complaint.info@financial-ombudsman.org.uk
Telephone: +44 (0)30 0123 9123
Website: www.financial-ombudsman.org.uk

The European Commission Online Dispute Resolution Platform (ODR)

If you were sold this product online or by other electronic means and within the European Union (EU) you may refer your complaint to the EU Online Dispute Resolution (ODR) platform. Upon receipt of your complaint the ODR will escalate your complaint to your local dispute resolution service – this process is free and conducted entirely online. You can access the ODR platform on http://ec.europa.eu/odr.

This platform will direct insurance complaints to the Financial Ombudsman Service. However, you may contact the FOS directly if you prefer, using the details as shown above.

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.

Benefits of Liability Insurance

  • Variation of cover levels and limits available
  • Expert advice and selected products to suit your needs
  • Add more products to your flexible payment plans