Terms of Business

TERMS OF BUSINESS as at 1st April 2014

The below TOB can also be download HERE

Accepting our Terms of Business

By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business.  We draw your particular attention to the section headed ‘Use of personal data’ and specifically the paragraph explaining how ‘sensitive personal data’ will be used.

For your own benefit and protection, you should read these terms carefully.  If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you, please contact us at 2 Catherine Street, Kirkintilloch, Glasgow, G66 1LJ.

 

The Financial Conduct Authority

Hamilton Robertson Insurance Brokers Ltd are authorised and regulated by the Financial Services Conduct (FCA).  Our FCA reference number is 301157.

Our permitted business is advising, arranging, introducing, dealing as agent and assisting in the administration and performance of general insurance contracts.   You may check this on the FCA’s register by visiting the FCA website, www.fsa.gov.uk/register/ or by contacting the FCA on 0845 606 1234.

 

Our Service

Our role is to advise you and make a suitable recommendation after we have assessed your needs.  In situations where we are able to arrange insurance for you but do not offer advice, we shall confirm the position to you in writing.   We will not in any circumstances guarantee the solvency of any insurer.

Personal insurances:

  • We select motor insurance products from a range of insurers.
  • We select household insurance products from a range of insurers.
  • We select travel insurance products from a range of insurers.
  • We select legal expenses insurance from a single insurer

 

Commercial Insurances:

  • We select commercial insurance products from a range of insurers but, for certain products, we may only deal with a single insurer or select from a limited number of insurers. If we propose using another intermediary to help place your business, we will confirm this to you in good time before any arrangements are finalised.

You may ask us for a list of the insurers we deal with for these products

 

Complaints and Compensation

We aim to provide you with a high level of customer service at all times, but if you are not satisfied, contact us:

 

in writing                                                                                 by phone                                 by email

Alex Hamilton at the address above                                   0141 777 7199                        ah@hrib.co.uk

 

When dealing with your complaint, we will follow our complaint handling procedures; a summary of these is available on request.  If you are still not satisfied, you may be entitled to refer the matter to the Financial Ombudsman.

We are covered by the Financial Services Compensation Scheme (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.  If you are eligible to claim from the FSCS, compensation is available as follows:

 

  • Insurance advising and arranging is covered for 90% of the claim, without any upper limit
  • For compulsory classes of insurance (such as Third Party Motor or Employers Liability) insurance advising and arranging is covered for 100% of the claim without any upper limit.

Further information about compensation scheme arrangements is available from the FSCS on 020 7892 7300 or www.fscs.org.

 

Payment for our Services

We normally receive commission from the insurers or product providers but may make charges for handling your insurances as follows:

  • in the event of a mid term alteration we make a charge of £25.00 in addition to any charge made by the insurer.
  • in the event of a policy being cancelled we make a charge of £25.00 in addition to any charge made by the insurer.
  • for duplicate cover notes or certificates we make a charge of £25.00 in addition to any charge made by the insurer.
  • should you wish us to recover uninsured losses on your behalf where legal expenses cover was not purchased a charge of 10% of the recovery made will be payable.

You will receive a quotation which will tell you the total price to be paid, showing any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded.  Full payment of premium and fees is due before cover commences, or as otherwise stated under terms of credit, or in the invoice or statement issued to you.  We make a 2% charge for all payment made by credit card.

In good time before the conclusion of each insurance contract or upon renewal, we will remind you of your right to be informed of the level of commission which we receive from underwriters.  You are entitled, at any time, to request information regarding any commission which we may have received as a result of placing your insurance business.

We also draw your attention to the sections headed ‘Cancellation of insurances’ and ‘Ending your relationship with us’.

 

Handling Client Money and/or Insurer Money

Our financial arrangements with most insurance companies are on a ‘Risk Transfer’ basis.  This means that we act as agents of the insurer in collecting premiums and handling refunds due to clients.  In these circumstances such monies are deemed to be held by the insurer(s) with which your insurance is arranged.  However, if Risk Transfer does not apply, such monies will be held by us in a Statutory Trust account set up in accordance with FCA rules.  Interest earned on monies held in such a Statutory Trust account will be retained by us.  For the purpose of some transactions, client money may pass through authorised intermediaries before being paid to insurer.

 

Cancellation of Insurances

You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance should be returned to us or to the insurer concerned.  In the event of cancellation, charges for our services will apply in accordance with ‘Payment for our Services’ above.  The terms of your policy may allow insurers to retain the premium in full or to charge short-period premiums in the event of cancellation before the policy expires.

 

Ending your relationship with us

Subject to your immediate settlement of any outstanding premiums and fees, you may instruct us to stop acting for you and we will not impose a penalty.  Your instructions must be given in writing and will take effect from the date of receipt.  In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days notice.

Unless otherwise agreed in writing, if our relationship ends, any transactions previously initiated will be completed according to these Terms of Business.  You will be liable to pay for any transactions concluded prior to the end of our relationship and we will be entitled to retain commission received for conducting these transactions, together with all fees charged by us for services provided.

 

Conflict of Interests

Occasions can arise where we or one of our associated companies, clients or product providers will have a potential conflict of interest with business being transacted for you.  If this happens and we become aware that a potential conflict exists, we will write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment.

 

Your Responsibilities

You are responsible for providing the complete and accurate information, which insurers require in connection with any proposal for insurance cover. This is particularly important before taking out a policy and at renewal, but it also applies throughout the life of a policy.  If you fail to disclose information or misrepresent any fact which may influence the insurer’s decision to accept the risk or the terms offered this could  invalidate the policy and mean that claims may not be paid.  You must check all details on any proposal form or Statement of Facts and pay particular attention to any declaration you may be asked to sign.

It is important that you read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply.  Particular attention should be paid to any warranties and conditions as failure to comply with them could invalidate your policy.

You must inform us immediately of any changes in circumstances that may affect the services provided by us or the cover provided by your policy.  If you are unsure about any matter, please contact us for guidance.

 

Credit Check Consent

To make sure you get our best deal and to ascertain the most appropriate payment options for you and to protect you from fraud, we use public and personal data from a variety of sources, including a credit reference agency and other organisations.  Our search will appear on your credit report whether or not your application proceeds.  We will seek your consent to this prior to any check being made.

 

Confidentiality of Personal Data

We will process any personal information we obtain in the course of providing our services to you in accordance with the Data Protection Act 1998.  In administering your insurances it will be necessary for us to pass such information to insurers and other product or service providers which may also provide us with business and compliance support.

We may also disclose details to relevant parties, as necessary, to comply with regulatory or legal requirements.  We may contact you or pass your details to other companies associated with us in order to promote products or services which may be of interest to you.  We will not otherwise use or disclose the personal information we hold without your consent.  Some of the details you may be asked to give us, such as information about offences or medical conditions, are defined by the Act as sensitive data.  By giving us such information, you signify your consent to its being processed by us in arranging and administering your insurances.

Subject to certain exceptions, you will be entitled to have access to your personal and sensitive personal data for which you will be charged a fee of £10.  If at any time you wish us, or any company associated with us, to cease processing any of the personal data or sensitive data we hold, or to cease contacting you about products and services please write to Hamilton Robertson Insurance Brokers Ltd at the address above.

 

Claims Handling Arrangements

You should take note of the required procedures in the event of a claim, which will be explained in the policy documentation.  Generally, insurers require immediate notification of a claim or circumstances which may lead to a claim. We will employ due skill if we act on your behalf in respect of a claim.   TOB 010414