Terms of Business Agreement

1. Who are we?

·         Blackfriars Insurance Brokers Ltd Limited is an independent intermediary. 

2. We are authorised and regulated by 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.

·         Our FSA Register number is 308518.  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.  Our permissions enable us to act in relation to non-investment insurance contracts.

3.  Whose products do we offer?

·         We offer a range products from a range of insurers for general insurance.

·         For some products we may use a single insurer or a limited panel, and we will advise you if this is the case.

·         We will provide you with details of the insurers approached on request.

4. Which service will we provide you with?

·         You will not receive advice or recommendation from us for general insurance. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

5. What you will have to pay us for this service?

·         We are paid by commission that forms part of the premium paid or by a fee that we agree with you before you commit to the insurance or by a combination of these.

·         We may also charge a fee in the in the following circumstances:-

Ø  £10.00 for a policy renewal.

Ø  £25.00 for any mid term adjustments to the policy in addition to any insurer charges.

Ø  £25.00 for cancellation of a policy in addition to any insurer charges.

Ø  £25.00 for each request for duplicate certificates. 

Ø  £25.00 for each request for duplicate policy documents.

Ø  £25.00 for provision of insurance details to third parties.

·         On request we will tell you how much we have been paid for our services relating to your policy. 

6. Commission Disclosure

·         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 we receive from underwriters.  You are entitled, at any time, to request information regarding commission we may have received as a result of placing your insurance business.

7. What to do if you have a complaint

·         It is our intention to provide you with a high standard of service at all times but if you wish to register a complaint, please contact us:

Ø  In writing: to the David J Burton, Managing Director at the above address

Ø  By e-mail: to djb@blackfriarsgroup.co.uk

Ø  By telephone: 01270 767327

Ø  By fax: 01270 768585

·         If you cannot settle your complaint with us you may be able to refer to the Financial Ombudsman Service.

8. Are we covered by the Financial Services Compensation Scheme (FSCS)?

·         We are covered by the FSCS and you may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the claim circumstances.

·         For compulsory classes of insurance, advising and arranging is covered for 100% of the claim, without upper limit.  For other classes cover is for 100% of the first £2,000 and 90% of the remainder of the claim, again without any upper limit. 

·         Further information about the compensation scheme arrangements is available from the FSCS.

9. Looking after your money

·         Your money is held in a client account managed in accordance with FSA statutory trust rules until it is passed to the insurer or returned to you.  We will retain any interest earned on this account.

·         Some insurers have appointed us as agents for the receipt of money and where this applies they specify the banking arrangements for their money.

·         We will only use your money to pay insurers or intermediary brokers for your insurance.  As an extra safeguard, we will only take commission from an insurer after we have paid them your premium.

10. Payment

·         You are responsible for paying premiums by the due date.  We have no obligation to fund premiums for you and have no responsibility for any loss you may suffer as a result of the insurer cancelling the policy due to non-payment.

·         We normally accept payment by cash, cheque, debit or credit card.

·         Direct debit facilities may be available with your insurer.  Please ask for details.

·         We offer instalment facilities through a single provider, Close Premium Finance, with a 30% deposit and the balance paid over 10 months. We provide details of interest payable if you are interested in this option.

11. Your duty of disclosure

·         It is your responsibility to provide complete and accurate information to insurers when you take out your insurance policy.

·         It is important that you ensure all statements you make on proposal forms, claim forms and all other documents are full and accurate.

·         If you fail to disclose any material facts to your insurers at the outset or other relevant time including renewal this may invalidate your insurance and result in all or part of a claim not being paid.  If you are unsure what constitutes a material fact you may ask us for guidance.

12. Your responsibility to read all documents

·         When a policy and related documents, e.g. policy summary, demands and needs statement, are issued you are strongly advised to read them carefully as they form the basis of the cover you have purchased.

·         If you are in doubt over any of the policy terms or conditions, please seek our advice promptly.

13. Your cancellation rights

·         Retail clients have the right to cancel new policies within 14 days of receipt and renewal instructions within 14 days of renewal.  If this right is exercised insurers will charge for the cover provided including administration costs. Full details are provided in your policy summary.

·         This right is in addition to any other cancellation right retail clients have after expiry of the 14-day period.

·         For commercial clients if there is any right to cancellation or refund this is detailed in your policy.

·         Our own charges are separate and if the policy is cancelled at any time these will not be refunded.

·         Any return premiums allowed by insurers due to cancellation will be reduced by the amount of commission we receive.

14. Protecting your data

·         Insurers share information with each other to aid the prevention of fraudulent claims. In the event of a claim information is placed on industry registers for analysis.

·         Under the Data Protection Act you have the right of access to your personal records held on our files and we will tell you the fee if you ask us for a copy of your information.

·         Confidential data is not otherwise shared with other parties unless it is a legal or regulatory requirement.

15. What to do in the event of a claim

·         If you want to claim on your policy you should use your insurer claim line (details in your policy) or notify us immediately by telephone 01270 767327 or by e-mail to mail101@blackfriarsgroup.co.uk.

·         You should not admit liability nor agree to any course of action, other than emergency measures carried out to minimize the loss, until you have agreement from either your insurer or us.

·         Where required we will provide you with reasonable guidance in pursuing your claim for as long as you remain a customer of Blackfriars Insurance Brokers Ltd Limited.

16. Quotation validity

·         Quotatons are usually valid for 30 days from date of issue but we cannot guarantee this will always be the case.

17. Document retention

·         We reserve the right to retain certificates at this office until all payments due under the policy have been made and any cheques cleared through our bank account.  By accepting this agreement you agree that delivery of any certificate of insurance to Blackfriars Insurance Brokers Limited shall constitute delivery to yourselves in accordance with statute law.

18. Governing law

·         The laws of England & Wales govern this agreement and the parties agree that any dispute arising from it is subject to the exclusive jurisdiction of the English courts.