OUR STATUS AND THE SERVICES PROVIDED
We are an insurance broker who arranges policies through a panel of leading insurers and intermediaries. Please note that for certain products we use only one insurance company. Our service includes advising you on your insurance needs, arranging your insurance cover and helping you with ongoing changes.
THE CAPACITY IN WHICH WE ARE ACTING
We act as your agent when sourcing a suitable policy, placing the insurance and in the event of a claim, unless the insurance is arranged under a delegated binding authority where we act as agent of the insurer when placing the insurance.
DISCLOSURE OF INFORMATION
It is your responsibility to provide complete and accurate information to your insurer when you take out your insurance policy and throughout the lifetime of the policy. Any information which might influence your insurer to accept, amend or decline your insurance proposal must be disclosed. If you are unsure about disclosing any matter please contact us for guidance. Failure to disclose any material information to your insurers or any inaccuracies in the information provided could invalidate your insurance cover and mean that part or all of your claim may not be paid. Any advice we offer will be based on the details you provide. Always keep copies of correspondence sent or received concerning your insurance.
SCHEDULE OF INSURANCE
It is important that you ensure that all details on your Schedule of Insurance are full and accurate. All details on the Schedule of Insurance are your responsibility. When a policy is taken out we will send you a copy of your Schedule of Insurance, which shows the information you have supplied. If you ask us to amend any answers, or add additional information we will send you a copy of the revisions. You will have the opportunity to correct amendments. Sample policy wordings are available upon request.
AWARENESS OF POLICY TERMS
You should read your policy carefully. The Schedule of Insurance and policy documents are the basis of the cover you have purchased. Please make sure that you understand them and are able to follow their requirements. Breach of any terms, conditions or warranties may enable your insurer to terminate your policy or repudiate a claim.
DATA PROTECTION ACT
Any information we hold about you, whether on our computer system or on paper files, will be treated as private and confidential. We will use and disclose the information we have in the normal course of administering or arranging cover on your insurance policy. Under the Data Protection Act 1998 you have rights of access to any personal information we hold about you in our records. If you have any queries in respect of confidentiality and data protection please contact us.
SERVICE STANDARDS
It is our intention to provide you with high levels of service at all times. In the unlikely event that you should have cause for complaint, you should write to the Head of Sales at the following address;
Quota Marketing
MMT Centre
Severn Bridge
Aust
Bristol
BS35 4BL
Alternatively you can contact Quota Marketing on telephone: 0845 683 0828 (calls may be recorded for training, compliance and claims purposes)
We will acknowledge receipt of your complaint in writing within 5 working days and provide you with a full written response within 20 working days, or explain the current position and provide you with a timescale for a full response. We will endeavour to provide you with a final response within 8 weeks.
If you remain dissatisfied with our response to your complaint you may be able to refer the matter to the Financial Ombudsman Service. To use their service you must be eligible and your complaint must be sent to them within 6 months of our final response letter. Full details of our complaints handling procedures are available upon request.
CLAIMS
We have no authority to handle claims on behalf of insurers. In the event of an accident occurring, which may give rise to a claim under your policy, you should notify the Claims Helpline as soon as possible. The claims contact details can be found in your insurance policy documents.
ADMINISTRATION CHARGES
We reserve the right to amend the level of charges at any time. You should also note that we will not be responsible for any fines or costs that you incur relating from late delivery of, or incorrect information on, any documentation relating to your insurance.
CANCELLATION OF INSURANCE POLICIES
1. Where cancellation rights exist
If you are a consumer buying a policy for non-business purposes, you have the right to cancel your policy during a period of 14 days either from the day of purchase of the contract or the day on which you receive your policy documentation, whichever is the later.
If you exercise this right and the cover had not yet commenced, you will be entitled to a full refund of the premium paid. If the insurance has commenced and provided that you have not made a claim, you will be entitled to a refund of the premium paid, subject to a deduction for the time that you have been on cover (calculated as a proportion of the annual premium).
To exercise your right to cancel, please contact Quota Marketing at the address shown.
2. When cancellation rights do not exist
unless otherwise stated, GAP insurance policies are arranged for a period of 36 months and you are required to pay the full premium. If you cancel the insurance, (other than in accordance with paragraph (1) above) and there have been no claims, you may be charged short period rates. We do not refund our commission as this was earned for arranging this policy.
PAYMENT OF PREMIUMS AND REFUNDS
Unless otherwise agreed and formalised by a premium instalment plan, all premiums are due on the day cover is arranged, or the date of any midterm adjustment.
We will pay the premium to the insurer and you will be responsible for paying the instalments as they fall due. In the event of any due payment not being made, you will be sent a 7-day cancellation letter by recorded delivery. If the monies are not received in this timescale the policy will be cancelled and all cover will cease. Any refund provided by the insurer, will be used against any outstanding balance on your instalment plan.
We will not accept responsibility for cancellation of your insurance policy by insurers due to late or non-payment of premium by customers. Instalment deposits are non-refundable. All premium refunds where applicable, will be made by cheque, payable to the policyholder.
QUOTATIONS
When a quotation is provided the premium is valid for 30 days. Quotations provided by the company do not constitute offers. All proposals and requests for insurance are subject to acceptance by insurers. Premiums and terms are quoted subject to confirmation and agreement by insurers. Your insurer has the right to decline your risk, increase the premium, or restrict the policy, if any errors or omissions are found on the proposal or statement of fact.
COMMISSION DISCLOSURE
Commercial customers (customers who are purchasing a policy in connection with their trade or profession) are entitled to information about the commission we receive for placing their business, prior to conclusion of the contract. This is available on request.
WITHHOLDING DOCUMENTS
We reserve the right to retain certain documents until all payments due have been made and any cheques cleared. We will provide any documents you are required to have by law.
RISK TRANSFER
Premiums that we collect from you are held in an insurance broking bank account specifically for the purpose of holding client money. By virtue of agreements held with insurers, we collect premiums as agent of the insurer. Therefore, once we have collected the premium from you, under the terms of our agreements with insurers, those premiums are treated as having been paid to the insurer. We will remit premiums to insurers in accordance with the terms of our agreements with insurers.
CLIENT MONEY SEGREGATION (STATUTORY OR NON-STATUTORY)
Premiums that we collect from you will be segregated into and held either in a Statutory or Non-Statutory Insurance Broking Trust Bank Account. We will hold the money as trustee for the insurer. The Client Money Bank Account is set up as a trust governed by our agreements with our insurers. This means that once client money is segregated into the trust account it falls into our legal ownership but remains for the beneficial ownership of insurers. If we become insolvent, the terms of the trust dictate that insurers will have a prior claim on the money in the account according to their respective interests. Where insurers permit use of a Non-Statutory Trust we may agree to extend credit to other customers using money from the Client Money Bank Account. We will have in place and maintain systems and controls to ensure that we are able to monitor and manage client money transactions and any credit risk arising from the operation of this trust arrangement.
EARNING INTEREST ON CUSTOMER PREMIUMS
We hold premiums that you pay us in a Client Money Bank Account. Under Financial Services Authority Regulations we have to inform you that we may earn interest from money held in our Client Money Bank Account, which may exceed £20 for any one transaction that you make with us. Interest earned will not be held for the benefit of customers. By accepting these Terms of Business, you are giving your consent for us to act in the manner described.
CUSTOMER MONEY PASSED TO ANOTHER PERSON
In accordance with Financial Services Authority Regulations we have to inform you that in managing and/or arranging your insurance requirements, we may transfer money that you have paid us in payment of an insurance premium, to another insurance intermediary. By accepting these Terms of Business, you are giving your consent for us to act in the manner described above.
CUSTOMER MONEY PASSED TO ANOTHER PERSON OUTSIDE THE UK
In managing and/or arranging your insurance requirements, we may transfer money that you have paid us in payment of an insurance premium, to another insurance intermediary operating outside of the United Kingdom. Unless you notify us that you do not wish your premiums to be transferred in the manner outlined, by accepting these Terms of Business you are giving your consent for us to act in the manner described. You should note that the legal and regulatory regime applying to the insurance intermediary may differ from that in the United Kingdom and consequently, if the intermediary fails, the premium may be treated in a different manner from which would apply if the premium was held by an insurance intermediary in the United Kingdom.
SEGREGATION OF INVESTMENTS
We hold premiums that you pay to us in a Client Money Bank Account. We may invest these premiums in a range of permitted designated investments as prescribed by Financial Services Authority Regulations. In the event that there is any shortfall in our client money resource attributable to falls in the market value of any of these permitted designated investments, we shall make provision for, and bear the cost of, any such shortfall. By accepting these Terms of Business you are giving your consent for us to act in the manner described above.
OTHER TAXES OR COSTS
Please note that there is a possibility that other taxes and/or costs may exist in respect of products and services offered by us, which are not paid through or imposed by us.
GOVERNING LAW
This agreement shall be governed by the laws of England and Wales and the parties agree herewith that any dispute arising out of it shall be subject to the exclusive jurisdiction of the English Courts.
VARIATIONS
No variations of these Terms are held to be valid unless in writing and signed by an authorised officer of the Company. The Company’s staff are not authorised to agree to any variation of these terms but they may be varied by the Company from time to time.
STATUTORY RIGHTS
Agreement to our Terms of Business does not affect your normal statutory rights.