Terms and Conditions
WHO WE ARE: “We/us/our” means Bollington CLA, part of the Bollington Wilson group of companies. Our address is Units 3A & 3B Mitre Court, 38 Lichfield Road, Sutton Coldfield, West Midlands, B74 2lZ. Telephone: 0121 321 4600. Website: www.clarisksolutions.co.uk.
REGULATION: We are authorised and regulated by the Financial Conduct Authority (FCA), 12 Endeavour Square, London, E20 1JN, to provide regulated products and services. Our FCA reference number is 468690. These details can be checked on the FCA register by visiting their website www.fca.org.uk or by contacting the FCA on 0800 111 6768.
ACCEPTANCE: The purpose of this agreement is to set out our professional relationship and detail the services we will provide to you. For your own benefit and protection, you should read all of the information carefully and if you do not agree to any part of the information, please tell us. We assume you accept the terms of this agreement unless we hear from you.
OUR EXCLUSIVE PRODUCTS & SERVICES: We are an independent intermediary acting on your behalf, however, in certain circumstances we may act for and owe duties of care to other parties. We will advise you when these circumstances occur so you will be aware of any possible conflict of interest.
Our service includes advising you on your insurance needs, arranging cover with insurers to meet your requirements and assisting you with any ongoing changes to the insurance we have arranged on your behalf. We 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. We do not guarantee the solvency of any insurer we place business with.
Our services will be provided for the duration of an insurance contract, normally being 12 months. In other circumstances these services may be terminated by us upon the giving of one month’s notice in writing to you or as otherwise agreed. In the event our services are terminated by you we will, under our terms of business agreements with insurers, be entitled to receive any and all or brokerage payable (whether or not the same have been received by us) in relation to policies placed by us. We will advise and make a recommendation for you after we have assessed your insurance needs. If we are unable to make a recommendation or offer advice or where your requirements cannot be fully met, we will provide you with enough information to enable you to make an informed purchasing decision. We will assist you in effecting any changes that you need to make to your insurance policy, with the renewal of your insurance policy and with any claim you need to make. We are also a credit broker in that we introduce those wishing to pay by instalments to firms that are able to lend money under a regulated credit agreement by way of business.
YOUR CONTRACT OF INSURANCE – INFORMATION WE NEED TO KNOW ABOUT:
COMMERCIAL CUSTOMERS; (Where the main purpose of the contract is not private use): You have a duty to provide a fair presentation of the risk which means you must make a clear and accessible disclosure of all material facts that you know, or ought to know. You must also provide sufficient information to make insurers aware they may need to ask further questions to uncover material facts. You are required to provide information revealed by a reasonable search of your business and the material knowledge of your senior management. All information you give must be true and complete, before and during the life of the policy.
Failure to make a fair presentation of the risk could lead to your insurer refusing or reducing claims payments, cancelling or voiding the policy or imposing additional terms, conditions or premiums. A material fact is any fact which affects the judgement of a prudent insurer to accept your risk and, if having accepted the risk, determines the level of premium to be charged and/or which terms and conditions are applied to the policy. If you are in doubt about the information you need to provide please contact us.
CONSUMERS: (Where the main purpose of the contract is private use);
It is your duty to take reasonable care to answer all questions honestly and to the best of your knowledge. If you do not, your insurance policy may be cancelled or treated as if it never existed or your claim may be rejected or not paid in full. It is important that all statements you make on proposal forms claim forms and other documents are full and accurate. If a form is completed on your behalf, you should check that the answers shown to any of the questions are true and accurate before signing the document. Failure to provide requested information to your insurers could invalidate your insurance cover and mean that part or all of a claim may not be paid.
AWARENESS OF POLICY TERMS: When a policy is issued you are strongly advised to read it carefully. It is the policy document, the schedule and any certificate of insurance that is the basis of the insurance contract you have purchased. Please ask our advice if you are in any doubt over any of the terms or conditions as failure to comply with policy conditions may result in your cover being cancelled or suspended and/or claims being refused.
REMUNERATION: We receive commission from insurers which is a percentage of the premium paid by you and allowed by the insurers. In addition to commission from insurers, we may also receive payments based on volumes of business or profitability of the account placed with them. These payments can vary from year to year. Such remuneration is only earned on the basis that it does not detract from our obligation to act in our client’s best interest at all times. In addition we may charge a professional fee to cover the placing and ongoing handling of your insurance. We normally make the following standard charges to cover the administration of your insurance:
Arranging new policies and renewals: £10.00
Mid-term adjustments: £10.00
Replacement / duplicate certificates or cover notes: £10.00
From time to time depending on the work and risk involved it may be necessary to charge greater fees. The specific amount and purpose of any professional fee and administration charges will always be advised to you in advance. We earn the entirety of our commission and/or fees when your risk is successfully placed and take our commission and/or fees immediately upon receipt of payment unless agreed otherwise with your insurer.
MID TERM ADJUSTMENTS OR CANCELLATIONS: In the event of an adjustment that results in a return of premium or cancellation mid-term we will refund the premium due net of our full commission and any charge made by insurers. Where the premium is being paid by instalments we will claim our full commission along with any charge made by the insurers in the calculation of any outstanding monies.
CANCELLATIONS DUE TO PREMIUM INSTALMENT DEFAULT: If any credit agreement payment is not met, you acknowledge and agree that we may instruct on your behalf the relevant insurer to cancel the insurance and to collect any refund of premiums which may be made by the insurer and use it to offset any outstanding costs. Cancellation of the insurance policy will mean there is no cover in force should a claim occur.
If you make a change or cancel your policy mid-term which results in a return premium, or are eligible for a retrospective rebate, we will retain any commission, fees, charges or profit payments to cover our administration costs. If we arrange premium finance on your behalf, we normally receive commission which is based on a percentage of the premium being financed.
INSTALMENTS: As a licensed Credit Broker and not a Lender, we can arrange for payment of your premium to be spread over a number of instalments by introducing you to third party premium finance companies and/or insurers’ own monthly payment facilities. Please be aware that failure to keep up with your instalment payments (default) may result in default charges and the policy being cancelled.
CLIENT MONEY: The FCA rules are designed to protect you in the event that an insurance intermediary fails or is unable to transfer:
a) any premium money it has received from you to the insurer.
b) any claims or return premium monies that it has received from the insurer to you.
We are governed by strict rules pertaining to Client Money, set down by the FCA. Where we hold monies in a client bank account we may earn interest on monies held, which will be retained by us. Our agreement terms with different insurers vary as to whether we hold premiums as an agent of the insurer. When this is the case, this means that premiums are treated as being received by the insurer when received in our bank account and that any claims money or premium refund is treated as received by you when it is actually paid over to you.
When we do not act as agent of the insurer you will be advised, and we will your hold your money separate from our own money with an approved bank, segregated in a client bank account designated as subject to a statutory trust deed. We act as trustees of our clients’ monies and must meet certain legal and regulatory conditions. The trust allows us the flexibility to advance credit from the account to meet clients’ premiums obligations where the premium has not been received. It does not allow us to advance credit to the firm or take our commission before receipt of your premium. We usually deduct any commission we earn upon receipt of your premium in our bank account. We may transfer client money to another person, such as another broker, for the purpose of effecting a transaction on your behalf through that person.
We remain responsible to you in respect of that money. This may include brokers and settlement agents outside of the UK. The legal and regulatory regime applying to a broker or settlement agent outside the UK may be different from that of the UK and in the event of a failure of the broker or settlement agent, this money may be treated in a different manner from that which would apply if the money were held by a broker or settlement agent in the UK. You may notify us if you do not wish your money to be passed to a person in a particular jurisdiction. These terms of business constitute your informed consent to these arrangements.
CLAIMS: If you have to claim on your policy or have been involved in an incident that may result in a claim you must notify us immediately. Telephone 0121 321 4608. Failure to do so may invalidate your claim. In an emergency, or outside our business hours, please refer to your policy for guidance. You should not admit liability or agree to any course of action other than emergency measures to minimise a loss, until you have agreement from your insurer. If you are ever in any doubt as to what action to take in the event of a claim, please contact us at the address above.
COMPLAINTS: Our intention is 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 our complaints manager at Units 3A & 3B Mitre Court, 38 Lichfield Road, Sutton Coldfield, West Midlands, B74 2lZ. Telephone: 0121 321 4600. We will supply you with a copy of our complaints procedure upon receipt of a complaint or at any time upon request. If we cannot address your concerns immediately a full reply will follow within 8 weeks, unless we are waiting for information from another party, in which case we will advise the likely timescale involved. If we cannot settle your complaint you may be entitled to refer it to the Financial Ombudsman Service.
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. Full details and further information on the compensation scheme is available from the FSCS.
GENERAL DATA PROTECTION REGULATIONS: We comply with the General Data Protection Regulations (GDPR) EU 2016/679. For further information on how we process your personal data please refer to our Privacy Notice which can be viewed on our website www.clarisksolutions.co.uk or speak to one of our agents.
We both acknowledge and agree that in certain circumstances you will need to share the Personal Data of your employees in order that we can arrange the appropriate insurance programme for you. This information may include their name, address, date of birth, health information, details of criminal convictions and employment record. We will both ensure that we have all necessary legal bases in place to enable lawful transfer of the shared Personal Data to the other and other Permitted Recipients for the purposes of arranging insurance.
Permitted Recipients includes you, us, any third parties engaged to perform obligations in connection with this agreement, and any other person agreed in writing between ourselves.
You will give full information to any data subject whose personal data may be processed under this agreement of the nature such processing. This includes giving notice that, on the termination of this agreement, personal data relating to them may be retained by us or, as the case may be, transferred to one or more of the data recipients, Permitted Recipients, their successors and assigns.
We both agree to process the Shared Personal Data only for the purposes of this agreement and not disclose or allow access to the Shared Personal Data to anyone other than the Permitted Recipients. To ensure that all Permitted Recipients are subject to written contractual obligations concerning the Shared Personal Data (including obligations of confidentiality) which are no less demanding than those imposed by this agreement. To ensure that it has in place appropriate technical and organisational measures, reviewed and approved by the other party, to protect against unauthorised or unlawful processing of personal data and against accidental loss or destruction of, or damage to, personal data.
We will process the Shared Personal data in accordance with the provisions of our Privacy Notice.
MISCELLANEOUS: These terms of business shall be governed by and construed in accordance with English Law. Please contact your advisor if there is anything in these terms of business you do not understand, need further clarification on, or with which you disagree.