Terms of Business Agreements

This document details our service and our arrangements for dealing with Your insurance. Please read it carefully and retain a copy for Your records. The English language will be used for all communications, the contractual terms and conditions, and any information We are required to supply to You, before and throughout the duration of the contract, and this agreement shall be subject to English Law (Scottish Law, where issued in Scotland).

Our Service

We are an independent insurance intermediary who act on our customers’ behalf in arranging insurance. Our services include: 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. As part of our service, We will assist You with any claim You need to make and tell You what Your responsibilities are in relation to making claims.

We will not provide You with any advice in relation to policies purchased solely through our Website and You will need to make Your own decision on the suitability of any such product.

The Financial Conduct Authority

The Financial Conduct Authority is the independent watchdog that regulates financial services. Access Underwriting Ltd is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 300421. You can check our status at register.fca.org.uk or by contacting the FCA on 0800 111 6768. Our permitted business includes advising, arranging, dealing in and assisting with the placing & administration of General Insurance policies.

Confidentiality and Data Protection

We are a data controller and our data protection officer is Mr Simon Hickman. We act as Your agent and will collect data, including personal information and risk details, solely to enable us to obtain and provide insurance quotations, arrange and administer Your insurance. Data collected by us is contractual, and for our legitimate business interests as an insurance broker and we will be unable to offer any quotation or insurance if You refuse to provide certain personal data, including health, financial and criminal records data which is collected under the lawful basis of public interest, where these would affect the provision of cover and/or performance of insurance contracts. Your information will be held securely by us and shared with insurers, and anyone else involved in the normal course of arranging and administering Your insurance which could include reputable providers outside the EU, to enable them to provide accurate terms They will also obtain data about You and Your insurance history from various insurance anti-fraud databases, such as the Claims and Underwriting Exchange (CUE) as well as publicly available websites and credit referencing agencies.

We may also share Your contact information with Zywave, who provide an online platform with useful resources to our clients. Zywave may send you information which we believe will be useful to you, but we will not give anyone else any personal information except on Your instructions or authority, or where we are required to do so by law, or our regulatory requirements. Information about You and Your insurances will be held while You are a client and for a minimum of three years, and in certain circumstances up to six years, after expiry of Your policies. Under the Data Protection Act data subjects have the right to see, and correct, personal information about them that we hold. Please write to our data protection officer at our usual office address if You wish to exercise Your rights or have a complaint about our use of Your data.

Our Service in relation to the provision of Premium Finance

We are a credit broker, not a lender. We only offer the credit facilities of insurers and Close Brother Premium Finance and We will not provide any advice on the suitability of credit facilities to Your needs. We may use providers who will conduct a credit check, which will be recorded on Your credit record. Please contact us if You do NOT consent to a credit check being undertaken, however this may affect our ability to offer instalment facilities to You.

Please Note: Your policy cover will cease if You fail to keep up payments on an instalment agreement or premium finance facility related to it and Your credit rating may be affected. In entering into a credit agreement to pay Your insurance premium, You give the finance provider the legal right to cancel Your insurance policy on Your behalf in the event that You default on the loan, and offset any refunded premium against the outstanding amount owed to them. This means that if You default on Your payment terms and the finance provider requests that We cancel Your policy, We will do so as Your agent.

Information on how We treat Payments You make to Us

Under the terms of our agreements with the Insurance companies with whom We place business, We normally receive premiums You pay to us as Agent of the Insurer. All insurance premiums You pay to us are protected in a Statutory Trust Client Account until We pay insurers. We do not pay any interest on premiums held by us in the course of arranging and administering Your insurance.

Payment Options

We normally accept payment by cheque or the following credit/debit cards – Visa, MasterCard, You may be able to spread Your payments through insurers’ instalment schemes or a credit scheme, which We have arranged with an established insurance premium finance provider, however rates and acceptance may be subject to a credit check. We will give You full information about Your payment options and the appropriate finance agreement when We discuss Your insurance in detail.

Are We covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the Financial Services Compensation Scheme (FSCS). For Commercial customers with less than £1m turnover, insurance advising and arranging is covered for 90% of the claim, without an upper limit. All compulsory insurances (for example, motor insurance and employers’ liability insurance), insurance advising and arranging are covered for 100% of the claim, without an upper limit. Further information about compensation scheme arrangements is available from the FSCS.

Our Fees and Charges for the services We provide to You

We usually receive a commission from the insurer, and credit provider, which is taken from the premium You pay to Us and, in addition, We normally make the following charges to cover the administration of Your insurance:

• New policies
  • Premium £0 up to £150: £30
  • Premium £151 up to £500: £40
  • Premium £501 up to £1000: £50
  • Premium over £1000: £60
• Mid-term adjustments: £NIL
• Mid-term cancellations and other refunds are refunded NET of commission.
• Renewals
  • Premium £0 up to £150: £30
  • Premium £151 up to £500: £40
  • Premium £501 up to £1000: £50
  • Premium over £1000: £60
• Replacement/duplicate certificates or cover notes: £NIL
• Payment by Debit or Credit Card: £NIL

Where we may receive additional remuneration based on the volume or profitability of our account with an insurer, we will advise You of this. Occasionally We may arrange a policy on which We earn no commission and, in these cases, We will advise You of the arrangement fee before You take the policy out. We may also make additional charges specific to the arrangement and servicing of certain policies, but these will always be advised to You in advance.

What to do if You have a complaint

Our aim is to provide a first-class service, however, if you wish to register a complaint, please contact us by writing to the Managing Director, Selsdon House, 212-220 Addington Road, South Croydon, Surrey, CR2 8LD, or, by phone on 020 8651 7420, by email at insure@accessinsurance.co.uk

If You cannot settle Your complaint with us, You may be entitled to refer it to the Financial Ombudsman Service, for an independent assessment and opinion. The FOS Consumer Helpline is on 0800 023 4567 and their website is at financial-ombudsman.org.uk Or you can contact them by post at: Financial Ombudsman Service, Exchange Tower, London E14 9SR

Cancellation of this Agreement

This agreement will remain in force unless cancelled by either party in accordance with the terms below or You have no insurance business placed through Us. You may cancel the agreement at any time, subject to notification in writing to our usual office address. In the event of cancellation, We shall be entitled to retain any commissions and fees earned prior to the date of cessation of the agreement in full. We have the right to cancel this agreement subject to one month notice in writing to your last notified address.

Reporting Claims

All incidents which could lead to a claim must be reported as soon as practicable and in accordance with any conditions contained in your policy. Your insurer’s claims contact number is shown in Your policy.

Sums Insured and Indemnity Limits

You will be responsible for ensuring that all sums insured and indemnity limits are adequate for the cover requested. We will advise You of the basis of calculation for sums insured and will, on request, give You details of external experts, such as surveyors and valuers, which You may wish to consult. The following information on calculating business interruption sums insured is given for guidance, but you should always seek specific advice from us if you are in any doubt as to what should be included.

Business Interruption / Loss of Profits Insurance

Several types of cover exist; Gross Profit basis (usual for manufacturers, retailers etc); Gross Revenue basis (normally for consultants, professions); and Increased cost of working basis, for businesses that believe there would be no loss of profit or revenue in the event of a claim, but would need to cover increased trading costs until the claim is settled.

‘Accounting Gross Profit’ and ‘Insurance Gross Profit’ are not the same thing. Where your policy includes this cover, the Sum Insured for ‘Gross Profit’ should normally be calculated using the following method:

Annual turnover plus year-end stock and work in progress; less opening stock (and work in progress) and purchases, bad debts and uninsured variable expenses (such as the purchase of raw materials or shipping costs)

Gross Revenue insures the total turnover without deductions and Increased Cost of Working is based on projected additional costs of temporary relocation and other forecast additional costs.

Business interruption sums insured should then be adjusted to take into account the indemnity period (eg. doubled for 2 years indemnity period), and an allowance for increases in business unless a declaration-linked policy is selected

Average

In the event of under-insurance, Insurers may reduce the amount of any claim settlement in the same proportion as the sum insured bears to the total value of the insured items.

Our Service and Obligations to You:

We will conduct a fact-find to evaluate Your insurance needs with the member of Your business that You choose to nominate as Your Insurance Contact, who will be responsible for ensuring that Your disclosure obligations to insurers are met. Please refer to Your Responsibility to Provide Information below.

We will act as Your agent in sourcing a policy to meet Your demands and needs and presenting the information provided by Your nominated Insurance Contact in a manner which is clear and accessible to insurers. Where we operate under any delegated authority from insurers we will act as their agent when issuing cover and in handling any claim you may make, and We will always advise You where this is the case.

We will advise and make a recommendation for You after We have assessed Your demands and needs. Our advice will be confirmed in a demands & needs and suitability statement, giving the reasons for Our recommendation.

We typically offer advice from a range of insurers, representing a fair analysis of the market, which means that We will have compared products from a sufficiently large range of insurance providers in terms of cover, price, quality of service and other relevant features in order to select appropriate policies for You. However, under certain circumstances We may only deal with a limited panel, or single insurer, or We may use another specialist intermediary to access the insurance product that most suits Your needs. We will always inform You where this is the case.

We usually receive commission from the insurer, which is taken from the amount You pay, and from the premium finance provider with whom We place Your business and, in addition, We will normally make the charges as shown in our Terms of Business Agreement to administer Your policy, but the specific charges applicable to Your policy will be included in Our Remuneration Statement. 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 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 are proud to be part of the Benefact Group – a charity owned, international family of financial services companies that includes Ecclesiastical Insurance UK and Ansvar Insurance, with whom we may place business, but we are not contractually obliged to do so.

Your Responsibility to Provide Information:

You have a duty under the Insurance Act 2015 to make a fair presentation of the risk to insurers. This duty applies when You take out Your insurance cover, throughout the life of Your policy, and when You renew Your insurance.

This duty includes a need for Your nominated Insurance contact to undertake a reasonable search for material information which is known, or ought reasonably to be known, by anyone playing a significant role in making business decisions in Your business (such as Your company’s principals, directors, senior management or shareholders) and staff responsible for arranging or administering Your firm’s insurance.

You should advise Us of any particular concerns which led You to seek insurance cover and any special or unusual facts relating to the risk.

You must ensure that all material statements of fact are substantially correct and not misleading, and any material information which is a matter of expectation or belief (e.g. an estimate or forecast) is provided in good faith.

Failure to disclose any material information or change in circumstances to Your insurers which could influence the cost, or their decision to accept Your insurance, could mean that Your policy could be invalidated or cancelled without refund, or that part or all of a claim may be not be paid. ‘Material Information or changes in circumstances’ could include Your inability to comply with any conditions or warranties applicable to your policy, which should be notified to Us immediately.

‘Material statements’ and ‘material information’ are information which could influence the judgement of a prudent insurer in determining whether to take on a risk and on what terms.

This document details our services and our arrangements for dealing with Your insurance. Please read it carefully and retain a copy for Your records. The English language will be used for all communications, the contractual terms and conditions, and any information we are required to supply to You, before and throughout the duration of the contract, and this agreement shall be subject to English Law.

The Financial Conduct Authority is the independent watchdog that regulates financial services. Access Underwriting Ltd is authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 300421. You can check our status at register.fca.org.uk or by contacting the FCA on 0800 111 6768. Our permitted business includes advising, arranging, dealing in, and assisting with the placing & administration of General Insurance policies.

How we treat Information You give to us (Our Privacy Statement)

We are a data controller and our data protection officer is Simon Hickman. We act as Your agent and will collect data, including personal information and risk details, solely to enable us to obtain and provide insurance quotations, arrange and administer Your insurance. Data collected by us is contractual, and for Our legitimate business interests as an insurance broker and We will be unable to offer any quotation or insurance if You refuse to provide certain personal data, including health, financial and criminal records data which is collected under the lawful basis of public interest, where these would affect the provision of cover and/or performance of insurance contracts.

Your information will be held securely by us and shared with insurers, and anyone else involved in the normal course of arranging and administering Your insurance, which could include reputable providers outside the EU, to enable them to provide accurate terms. They will also obtain data about You and Your insurance history from various insurance anti-fraud databases, such as the Claims and Underwriting Exchange (CUE) as well as publicly available websites and ‘soft checks’ with credit referencing agencies, which will not affect your credit rating.

We may also share Your contact information with Zywave, who provide an online platform with useful resources to our clients. Zywave may send you information which we believe will be useful to you, but We will not give anyone else any personal information except on Your instructions or authority, or where We are required to do so by law, or by virtue of Our regulatory requirements. Information about You and Your insurances will be held while You are a client and for a minimum of three years, and in certain circumstances up to six years, after expiry of Your policies. Under the Data Protection Act, data subjects have the right to see, and correct, personal information about them that We hold. Please write to our data protection officer at our usual office address if You wish to exercise Your rights or have a complaint about our use of Your data.

Our Service to You and the Products we Offer

We are an independent insurance intermediary who act on our customers’ behalf in arranging insurance. Our services include: assessing 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 usually offer advice from a range of insurers, representing a fair analysis of the market, however, under certain circumstances we may only deal with a limited panel, or single insurer. we will notify You of the insurers considered when this applies.

We are proud to be part of the Benefact Group, a charity owned, international family of financial services companies that includes Ecclesiastical Insurance UK and Ansvar Insurance, with whom we may place business, but we are not contractually obliged to do so.

We will advise and make a personal recommendation for You after we have assessed Your demands and needs. Our advice will be confirmed in a demands & needs statement, giving reasons for our recommendation. In respect of Legal Expenses/Motor Breakdown and policies purchased on our website, you will not receive advice or a recommendation from us and you will then need to make your own choice about how to proceed.

Information on Payment Options and How we will treat Payments You make to Us

We normally accept payment by cheque or the following credit/debit cards – Visa, Mastercard. You may be able to spread Your payments through insurers’ instalment schemes or a credit scheme, which we have arranged with an established insurance premium finance provider. Rates and acceptance may be subject to a full credit check. We will give You full information about Your payment options and the appropriate finance agreement when we discuss Your insurance in detail.

Under the terms of our agreements with the Insurance companies with whom we place business, we normally receive premiums You pay to us as Agent of the Insurer. All insurance premiums You pay to us are protected in a Statutory Trust Client Account until we pay insurers. We do not pay any interest on premiums held by us in the course of arranging and administering Your insurance.

Our Fees and Charges for providing Our Services to You

We usually receive commission from the insurer, and credit provider, which is taken from the amount You pay us, on the insurance and premium finance with whom we place Your business. In addition, we also make the following charges to cover the administration of Your insurance:

• Arranging new policies and renewals (as below):
  • Premium £0 up to £150: £30
  • Premium £151 up to £500: £40
  • Premium £501 up to £1000: £50
  • Premium over £1000: £60
• Mid-term adjustments £NIL
• Replacement/duplicate certificates or cover notes £NIL
• Mid-term cancellations and other refunds are paid NET of commission

Personal lines/Retail policies cancelled during the ‘Right to Cancel’ period will be subject to an administration charge of £30, in addition to the premium charged by the insurer for the period of cover provided. If we arrange a policy on which we earn no commission, we will advise You of the arrangement fee before You take the policy out. We may also make additional charges specific to the arrangement & servicing of certain policies, but these will always be advised to You in advance. Where we may receive additional remuneration based on the volume or profitability of our account with an insurer – we will advise You of this.

How You can Complain

Our aim is to provide a first-class service, however, if You wish to register a complaint, please contact us by writing to the Managing Director, Selsdon House, 212-220 Addington Road, South Croydon, Surrey, CR2 8LD, or, by phone on 020 8651 7420, by email at insure@accessinsurance.co.uk

If You cannot settle Your complaint with us, You may be entitled to refer it to the Financial Ombudsman Service, for an independent assessment. The FOS Consumer Helpline is on 0800 023 4567 and their address is: Financial Ombudsman Service, Exchange Tower, London E14 9SR. Their website is at financial-ombudsman.org.uk or, if Your complaint relates to a policy sold online or via email can register the complaint using the European Online Dispute Resolution platform

The Financial Services Compensation Scheme (FSCS) We are covered by the Financial Services Compensation Scheme (FSCS). Insurance advising and arranging is covered for 90% of the claim, without an upper limit. For compulsory insurances (e.g., motor insurance and employers’ liability insurance), insurance advising and arranging is covered for 100% of the claim, without an upper limit. Further information about compensation scheme arrangements is available from the FSCS.

Premium Finance Facilities and Service

We are a credit broker, not a lender. When quoting, our systems will undertake a ‘soft’ check on your credit file, to verify your details, however this will not show on your credit file for other companies and will not affect your credit rating. We may use insurance and finance providers who will conduct a full credit check and share Your payment record with other lenders, all of which will be recorded on Your credit record. Please advise us if You do NOT consent to a full credit check being undertaken and you require premium finance, however this may affect our ability to offer instalment facilities to You. In relation to the provision of credit, we offer only the facilities provided by Insurers, or those of Close Brothers Premium Finance from whom we may receive a commission. We will not offer You any advice on premium finance facilities available through us and You will need to decide Yourself on the suitability of any credit agreement offered.

Please Note: Your policy cover will cease if You fail to keep up payments on an instalment agreement or premium finance facility related to it and Your credit rating may be affected. In entering into a credit agreement to pay Your insurance premium, You give the finance provider the legal right to cancel Your insurance policy on Your behalf in the event that You default on the loan, and offset any refunded premium against the outstanding amount owed to them. This means that if You default on Your payment terms and the finance provider requests that we cancel Your policy, we will do so as Your agent.

Your Responsibility to Provide Information

You must take reasonable care to answer all questions honestly and to the best of Your knowledge, and if You volunteer any other information, You must ensure that the information is not misleading.

If any information that You have provided to us changes before You take out Your insurance, during the life of the policy or at renewal, You must inform us of the change. If You deliberately, recklessly or carelessly misrepresent any information in relation to this insurance then Your policy may be cancelled without refund, or treated as if it never existed, or Your claim rejected or not fully paid.

Reporting Claims: As part of our service, we will assist You with any claim You need to make and tell You what Your responsibilities are in relation to making claims.

All incidents which could lead to a claim must be reported as soon as practicable. Your insurer’s claims contact number is shown in Your policy. For Motor Insurance we operate an outsourced claims management service via BDElite Total Claims Management, who will assist you with your claim and recovery of uninsured losses where this is possible. ALL such claims should be reported using the contact number 01204 567567.

Your Right to Cancel

You have a legal right to cancel Your policy or credit agreement for any reason, subject to no claims having occurred, within 14 days of receiving the full terms & conditions. You will always be advised where this Right applies. A charge will apply for the period of cover provided and, in addition, we make an administration charge as detailed above. If You cancel a credit agreement You will need to repay any sums provided in full. If You cancel after the 14 days has elapsed, short-period cancellation rates apply. If You wish to cancel a policy, You must advise us in writing prior to expiry of the 14-day cancellation period, to our usual office address.