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Legal information IMPORTANT NOTICE TO CLIENTS OF INSURANCE WORLD EXPLAINING OUR TERMS OF BUSINESS AND STATUS DISCLOSURE
1. Definitions
"We/us/our" means Treelyn (Insurance Services) Ltd trading as Insurance World
Business & registered address : 11 Billing Road, Northampton, NN1 5AW
Telephone - 01604 615400
Fax - 01604 615410
Email - info@insurance-world.co.uk
2. Regulation
Insurance World of 11 Billing Road, Northampton, NN1 5AW is authorised and regulated by the Financial Services Authority (FSA). Our FSA Register number is 305036.
Our permitted business is arranging general insurance contracts.
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.
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.
3. Whose Products Do We Offer?
Insurance World offer products from a range of insurers; we will be please to provide a list of insurers upon request.
4. Which Services Will We Provide You With?
We will advise and make a recommendation for you only after we have assessed your needs. In order that we can produce an accurate assessment of your ‘demands and need’ it is essential that you supply us with all/any information that is or maybe relevant to your insurance requirements.
5. Disclosure of Information
It is important that you understand that any information, statements or answers made by you to us or your insurer (either verbally or in writing) are your responsibility and must be correct. Your attention is particularly drawn to the importance of the declaration and signature on any Insurers' Proposal Forms as any failure to disclose facts material to the insurance 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 on any aspect.
6. Awareness of Policy Terms
When a policy is issued, you must 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 any doubt over any of the policy terms or conditions, please seek our advice promptly.
7. What Will You Have to Pay Us For Our Services?
We reserve the right to make charges in addition to any insurance premiums, for the arranging, amending, renewal and cancellation of any policy of insurance. These charges will always be advised to you before you purchase the insurance or they are incurred. Our inception or renewal fee will not exceed 27.5% (unless advised otherwise) of the insurers premium e.g.:
Insurers Premium = £100.00
Our Fee = £ 27.50
TOTAL AMOUNT PAYABLE = £127.50
We may receive an additional over rider commission or fee from some insurers or underwriters. This additional income could, for example, be based upon our overall account profitability with that insurer or a volume based over rider.
8. Holding Clients Money
We have a written agreement to hold your premium (or part thereof) as agent for the insurance company. This money will be paid into our ‘statutory clients bank account’ and will be rendered to the insurer in accordance with our terms of payment to the Insurer. Any interest earned on client money held by us will be retained by us for our own use rather than paid to you. We may transfer client money to another person, such as another broker or settlement agent, for the purpose of effecting a transaction on your behalf through that person.
9. Claims
It is an express condition of the Policy that all incidents that might give rise to a liability or claim under the policy must be reported to your Insurer immediately (or in any event, by the next business day) and thereafter in writing to enable a proper investigation to be carried out and a settlement agreed. Claims should be reported to your Insurer using the telephone number/address supplied and to Insurance World on fax number 01604 615410.
ATTENTION - QUINN-DIRECT POLICYHOLDERS:- It is an express condition of Quinn-Direct Policies that all incidents that might give rise to a liability or claim under the policy must be reported to Quinn-direct immediately (or in any event, by the next business day) and thereafter in writing to enable a proper investigation to be carried out or agreed. Claims should be reported to Quinn-direct by fax to number 0161 869 7701 and a copy to Insurance World by fax on 01604 615410 The policyholder may be requested to pay an excess under the terms of the Policy to Quinn-direct as soon as, or at any time after, an incident occurs that Quinn-Direct believes may give rise to a liability under the policy, regardless of whether a claim has yet been made, liability established or a settlement made. Quinn-direct will not be obliged to make payment under the policy in respect of any incident or claim arising from it if the excess has been requested and not paid. It should be noted that 50% of any excess paid to Quinn-Direct will be refunded where it is clearly demonstrated, to the satisfaction of the Quinn-Direct, that the assistance of the Insured has resulted in a quick and effective settlement of a claim avoiding unnecessary fees and costs.
10. What To Do If You Have a Complaint
It is always our intention to provide a first class service. However, should you have any cause for complaint you should in the first instance contact our Complaints Manager Mr Carl Tero:
…in writing Write to Insurance World, 11 Billing Road, Northampton, NN1 5AW
…by phone Telephone 01604 615400
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. Full details of our ‘complaint procedures’ are available upon request.
Please note that your insurer also maintains a complaint procedure, details of which are contained in your Policy.
11. 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 100% of the first £2,000.00 and 90% of the remainder of the claim, without upper limit. Further information about compensation scheme arrangements is available from the FSCS.
12. Documents
With your consent we reserve the right to retain certificates at this office until all payments due under the policy have been made and until completion of the cancellation period (if applicable to your insurance policy). Any agreed facilities for payment of premiums by instalments through us will be the subject of a written agreement, which will include authority to retain certificates of insurance until all payments have been received. By accepting this agreement, you agree that delivery of any certificates of insurance to us shall constitute delivery to yourself in accordance with statute law. Should we withhold any documents we will ensure you receive full details of your insurance cover.
13. Quotations
Unless otherwise advised Quotations will be valid until the end of the current calendar month from the date the quotation is provided.
14. Notice
Insurers pass information to the claims and underwriting exchange run by Insurance Database Services Ltd. The aim is to check information provided and also prevent fraudulent claims.
15. Our Administration Procedures
Commercial Customers
Required within seven days from policy inception:
a. Full payment or payment on agreed terms.
b. A completed Proposal form plus any additional supporting information.
c. PLEASE NOTE THAT SHOULD THESE DOCUMENTS NOT BE RECEIVED WITHIN THIS TIMESCALE INSURANCE COVER WILL CEASE WITHOUT FURTHER NOTICE 21 DAYS FROM THE POLICY INCEPTION DATE.
Retail Customers
Required within seven days from policy inception:
a. Full payment or payment on agreed terms.
b. A completed Proposal form.
c. Proof of No Claims Bonus. The original proof of no claims bonus is required from your last Insurer (Please note that a Broker copy/photocopy is not acceptable).
d. A current photocopy of each drivers Driving Licence.
e. Company car declaration (if specified as required).
f. Immobiliser Certificate of Installation/Immobiliser declaration (if specified as required).
g. If an immobiliser has been specified as required, ALL THEFT COVER WILL BE EXCLUDED from the policy unless we are in receipt of an Immobiliser Certificate approved by your insurance company (please refer to us for clarification and/or a list of approved systems).
h. PLEASE NOTE THAT NO CONTINUATION COVERNOTE WILL BE ISSUED BEYOND A PERIOD OF 30 DAYS AFTER THE POLICY INCEPTION, UNLESS ALL THE REQUIRED DOCUMENTATION IS RECEIVED BY US WITHIN THIS TIME SCALE.
Insurance World and/or the Insurer at all times reserve the right to apply terms or decline a risk at their total discretion. A specimen policy is available upon request as is a copy of Insurance World's instalment charges.
16. General Information
Should we receive advices from our bank with regards to un-cleared cheques, £18.00 will be requested for each re-presentation and £35.00 will be requested for each cheque completely returned to us. The same £35.00 charge will also be made for missed/declined credit/debit card payments.
For travel abroad, we can provide a Green Card facility on application. A charge is made for this facility and we will be pleased to provide details on application. Please give a minimum of two weeks notice if you require a Green Card for travel abroad (please note we can provide full travel insurance packages to suit your personal requirements). Please note that Norwich Union policyholders do not need to contact the office for trips of up to 3 months to an E.C. country, as this is included within the policy free of charge.
17. Cancellation
We are unable to cancel any insurance policy without your confirmation in writing that you wish to cancel the policy. We recommend that you retain your policy and cover notes carefully. Upon cancellation of the contract, it should be noted that some insurance companies apply short term cancellation charges which are not proportionate to the annual premium and as these form part of the contract offered, we would ask clients to realise that such charges upon cancellation are applied by the underwriters and not ourselves. All return of premium following cancellation or adjustment will be issued net of all our commission, inception and cancellation charges which we retain in full as remuneration for arranging the initial policy. Please note that our inception charges remunerate us for arranging the initial policy; we charge to handle all mid-term adjustments. Please note that a refund will be issued when the Insurers has confirmed cancellation and returned the unused policy premium to us. If a request for a refund is received a standard charge of £40.00 will be deducted from the return to cover administration and bank charges.
18. 'Cooling-off' period
In general, cancellation rights apply to non-investment insurance contracts taken out by retail customers (a retail customer is an individual who purchase’s an insurance policy for personal use such as private motor or household insurance; a commercial customer purchases insurance for their business); this cancellation right is generally not available to commercial customers. Your insurance policy will provide full details of any early cancellation rights that may apply to your policy.
19. Mid-Term Adjustment Charges
If you require any mid-term adjustments, e.g. additional drivers, change of vehicle, change of address, change of risk etc, we require your confirmation in writing before the amendment can be made. Both the Insurer and ourselves reserve the right to levy a reasonable administration charge for all adjustments. A copy of Insurance World's standard charges is available on request. Full payment is required before the adjustment can be made.
The following charges are made by Insurance World and are in addition to any charges levied by the Insurer:
• Policy cancellation fee £40.00
• Payment default £35.00
• Duplicate documents £10.00
• Substitution of vehicle £35.00
• Temporary additional vehicle £18.50
• Change of drivers £35.00
• Temporary change of driver £15.00
• Change of address £17.50
• Change of Cover £22.50
• Green card/foreign use cover £15.00
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