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Terms of Business
TERMS OF BUSINESS IMPORTANT NOTICE TO OUR CUSTOMERS AND CLIENTS EXPLAINING OUR TERMS OF BUSINESS AND INDEPENDENT INTERMEDIARY STATUS. FOR GENERAL INSURANCE BUSINESS.
TERMS OF BUSINESS AGREEMENT – ABOUT OUR SERVICES
1. The Financial Services Authority (FSA)
The FSA is the independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide if our services are right for you.
2. Whose Products Do We Offer?
We can offer products from a wide range of Insurers allowing us to make a fair analysis of the market.
3. Which Service Will We Provide You With?
We will advise and make a recommendation for you after we have assessed your needs.
4. What Will You Have to Pay Us For Our Services?
We may charge you a fee for arranging, amending, renewing and cancelling any policy of insurance. Details are available on request. Otherwise we are remunerated by way of commission from Insurers.
You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.
5. Who Regulates Us?
Irvine Commercial Insurance Brokers Ltd. is authorised and regulated by the Financial Services Authority. Our FSA register number is 305126.
Our permitted business is to sell and administer general insurance.
You can check this information on the FSA’s register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.
6. What To Do If You Have a Complaint
If you wish to register a complaint please contact us:
In writing to Irvine Commercial Insurance Brokers Ltd.
Suite 35
Stoneleigh Deer Park
Stareton
Kenilworth
Warwickshire, CV8 2LY
By Phone 024 7632 3880
If you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service.
7. Are We Covered By The Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
Insurance advising and arranging is covered for the first £2,000 and 90% of the remainder of the claim without any upper limit.
Further information about the compensation scheme is available from the FSCS.
TERMS OF BUSINESS – CUSTOMER CHARTER
1. Regulation. We, Irvine Commercial Insurance Brokers Ltd. of Suite 35, Stoneleigh Deer Park, Stareton, Kenilworth, Warwickshire, CV8 2LY, are authorised and regulated by the Financial Services Authority (FSA) to sell general insurance products. Our FSA register number is 305126 and you can check this on the FSA’s register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.
2. Our Service to You. In arranging insurance for our customers we act as an independent intermediary and act on your behalf when arranging your insurance. Our service includes: advising you on your insurance needs; arranging your insurance cover with Insurers to meet your requirements; and helping you with any ongoing changes you have to make. We will also help you with any claims that you may make. We offer a range of general insurance products and have access to a number of Insurers with whom we place your insurance. We will give you details of these Insurers when we discuss your individual requirements.
3. Disclosure of Information. It is important that you understand that any information, statements or answers made by you to us, or your insurer, are your responsibility and must be correct. Any failure to disclose facts material to the Insurer or any inaccuracies in your answers may invalidate your insurance cover in part or in whole. Facts material to the insurance are matters or information which may influence your Insurer as to the acceptability or otherwise of your Proposal or Renewal and must be disclosed immediately. You are advised to keep copies of documentation sent to or received from us for your own protection. Please do consult us if you are in doubt of any aspect. The disclosure of information not only applies at commencement and renewal of your policy, but also at any time during the period of insurance.
4. Awareness of Policy Terms. When a Policy is issued, you are strongly advised to read it carefully, as it is that document, the schedule and any certificate of insurance that is the basis of the insurance contract you have purchased. If you are in doubt over any of the policy terms and conditions, please seek our advice promptly.
5. Charges. We reserve the right to make charges, in addition to any insurance premiums, for the arranging, amending, renewing and cancelling any policy of insurance. Details of charges made will be declared in all correspondence with you.
6. Customer Protection Information. It is our intention to provide you with a high level of customer service at all times. If there are occasions when we do not meet your standards, please contact The Directors either verbally or in writing, who will take details of your concerns. We will acknowledge in writing, advising you of who is dealing with your concerns and attempt to address your concerns within five working days. If our investigations take longer, we will provide a full response within twenty working days or explain our position and provide timescales for a full response. If we cannot satisfy your complaint you may be entitled to refer it to the Financial Ombudsman Service.
7. Financial Services Compensation Scheme (FSCS). We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Insurance advising and arranging is covered for the first £2,000 and 90% of the remainder of the claim without any upper limit. Further information about the compensation scheme is available from the FSCS.
8. Cooling Off Period. We will give you enough information and help so you can make an informed decision before you make a final commitment to buy your insurance policy. However you will have 14 days to change your mind and cancel the insurance contract from the date you receive the policy documentation.
NB. This only applies to retail customers.
9. Confidentiality. All personal information about you will be treated as private and confidential. We will also use and disclose the information we have about you in the normal course of arranging and administering your Insurance. We may use information we hold about you to provide information to you about other products and services, which we offer. Under the Data Protection Act 1999 you have the right to see personal information about you that we hold on our records. If you have any queries in this respect or if you do not wish to receive marketing information from us please write to us at ICIB Ltd., Suite 35, Stoneleigh Deer Park, Stareton, Kenilworth, Warwickshire, CV8 2LY.
10. Quotations. Any Quotation given is operative for a period of 30 days, from the date of quotation unless otherwise shown.
11. Proposal Forms. All answers on any proposal form and any other statements made to us by you are your responsibility. If we are requested to amend or enter any additional information on your proposal form by you we will send you a copy of the form indicating what we have done. You will have the opportunity of correcting any amendments or entry if it is not correct.
12. Premium Payments. We normally accept payment by cheque, cash or credit card. For the latter a small administration charge may be added. In order to be able to offer you credit facilities we are registered under the Consumer Credit Act. Our licence number is 537526.
You may also be able to spread your payment through Insurers’ instalment schemes or a credit facility we have arranged with a Third Party Finance provider. We will give you full information about your payment options when we discuss your insurance in detail. We may keep certain documents such as your insurance policy or certificate while we are awaiting full payment of premiums. In these circumstances we will ensure that you receive full details of your insurance cover and will provide you with any documents that you are required to have by law. We hold monies received from you in a designated insurance bank account, and as such receive interest on the monies from time to time before such monies are remitted to insurers in accordance with our agreements with them.
13. Claims. If you have occasion to claim on your policy you must notify us promptly. We will either issue a claim form or inform you what information is required and pass all such details to your Insurers. If a Third Party is involved, you must not admit liability nor agree to any course of action until you receive confirmation of such action from your Insurers.
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