DAVID HASKOLL LTD - TERMS OF INSURANCE BUSINESS
About us: David Haskoll Ltd of 1 Falmer Court, London Rd, Uckfield, TN22 1HN are authorised and regulated by the Financial Conduct Authority. Our Firm Registration Number is 301630. We are permitted to arrange, advise, or deal as an agent of insurers and clients and assist in claims handling with respect to non-investment insurance policies. We are also authorised for credit broking activities and act for a number of lenders. You can check these details on the FCA's Register by visiting the FCA's website http://www.fca.org.uk or by contacting the FCA on 0800 111 6768.
Our Services: We offer a wide range of insurance products with access to many leading insurers in the marketplace. However, for some types of insurance we deal exclusively with a single insurer selected as offering sound value for money allied to a good service. We also act as agents for a number of specialist intermediaries to obtain access to limited underwriting sources for unusual or specialist policies. This Terms of Insurance Business document constitutes both your acceptance that we may do this and your prior request for us to do so.
Your duty of disclosure Consumers: You must take reasonable care not to make a misrepresentation to the insurers. This means that all the answers you give and statements you make as part of your insurance application, including at renewal and when an amendment to your policy is required, should be honest and accurate. If you deliberately or carelessly misinform the insurers, this could mean that part, or all of a claim may not be paid.
Non-Consumer Customers: Where we arrange insurance wholly or mainly for purposes related to your trade, business, or profession, you have a duty under The Insurance Act 2015 to make a fair representation of the risk. This means that you must disclose every material circumstance which you and/or your senior management and/or anyone responsible for arranging your insurance know or ought to know. Alternatively, you must disclose sufficient information which would put the insurer on notice that it needs to make further enquiries for the purpose of revealing those material circumstances. You are expected to carry out a reasonable search in order to make a fair representation of the risk and will be deemed to know what should reasonably have been revealed by the search. Your duty of fair representation applies at the start of the policy, at renewal and when any variation of the policy is arranged. If you fail to make a fair representation, the insurer may refuse to pay your claim or reduce the settlement amount, depending on circumstances.
Insurer Selection: The insurers we choose to place cover with will have an independent financial rating between A-C. An ‘A’ rated insurer indicates an excellent ability to pay claims, while for a ‘C’ rating means that the insurer may be less able to pay claims. At Wisemans Insurance we aim to use ‘A’ rated insurers to place your business. However, occasionally, in order to meet your demands and needs we may use an ‘unrated’ insurer due to this being the only option to provide you with a policy that meets your needs. On such occasions, in the absence of a formal rating, Wisemans Insurance will look to have obtained that insurers solvency rating and have set a minimum acceptable solvency rating for all unrated insurers of 120% or above. 100% rating ordinarily suggests solvency.
Product Governance & Distribution Strategy: It is our duty when selecting insurance products for our customers to ensure they offer fair value and are provided accurately to the right people in order to meet the demands and needs of our clients. We review all our product lines annually to ensure we maintain this level of high standards.
All our products are distributed to our clients via email or via postal services. We sell all our products over the phone or via email conversations. At present we do not use our own website to quote directly through, nor do we use price comparison websites in order to sell and distribute our products. If we were to change our distribution strategy we will advise our clients in advance of doing this to ensure our clients are aware of how to best access our products
How to cancel: You may have a statutory right to cancel this policy within a short period. Please refer to your policy documentation for further details. If you cancel you will receive a pro rata refund of premium from the insurer. Insurers are also entitled to make an administrative charge. We may keep an amount that reflects the administrative costs of arranging and cancelling the policy. If you wish to cancel outside this period, you may not receive a pro rata refund of premium. We may also keep an amount that reflects the administrative costs of arranging and cancelling the policy (see tariff of charges).
Protecting your information: We take your privacy extremely seriously and we will only use your personal details in line with our Privacy Notice. Please read our Privacy Notice carefully. This can be found on our website: www.wisemans.co.uk or a copy is available upon request. Please contact us immediately if you have any queries. Where necessary, for example, where we would use your data for some marketing purposes, we shall ask for your specific consent to do so. Your personal information includes all of the details you have given us to process your insurance policy (we will not ask for more information than is necessary). We may share your data with Third Parties for the provision and ongoing performance of your insurance policy. Your data may be transferred outside the UK. We will not sell, rent, or trade your data under any circumstances. All of the personal information you supply to us will be handled strictly in accordance with the applicable Data Protection regulations and legislation.
How to claim: Please refer to your policy documentation for further details if you need to notify a claim. Whilst insurers often provide contact details for you to report a claim directly, our general advice is to always make us aware of the situation and report to us directly as soon as possible on 01825 747760. We will contact your insurers on your behalf and assist depending on the nature of the incident
Fees and charges: Fees are charged to reflect work where we receive a low commission or commission falls below the minimum earnings, in these circumstances we will add a broker fee in order to cover our operating costs. We will also charge a broker fee, in addition to commission, for more complex and hard to place risks. Please refer to our enclosed Tariff of Administration Charges for fees payable under this Terms of Insurance Business document. These will apply if you instruct us to carry out a mid-term adjustment, renewal, cancellation, or other work on your behalf.
Our Earnings - Commercial Customers only: If you are classified as a Commercial Customer 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.
Block Transfers: In respect of some classes of insurance we may operate block insurance arrangements in order to provide competitive terms. On occasions it will be necessary for us to transfer such blocks from one insurer to another where this is beneficial for our clients. This Terms of Insurance Business document constitutes both your acceptance that we may do this and your prior request for us to do so.
Protecting your money: Prior to your premium being forwarded to the insurer, and for your protection, we either hold your money as an agent of the insurer (in which case your policy is treated as being paid for), or we hold it in a client bank account in trust for you. We may transfer your money to another intermediary in some cases. However, your money will be protected at all times because of the requirements of FCA rules. We also reserve the right to retain interest earned on this account. By accepting this Terms of Insurance Business document, you are giving your consent for us to operate in this way.
Complaints: It is our intention to provide a high level of service at all times. However, if you have reason to make a complaint about our service you should contact Paul Driver at the above address or ring 01825 747760. You may be entitled to refer the matter subsequently to the Financial Ombudsman Service. You can contact the Financial Ombudsman Service by telephone on 0800 023 4567 and further information is available at http://www.financial-ombudsman.org.uk/. If you decide to refer any matter to the Financial Ombudsman Service your legal rights will not be affected.
Compensation arrangements: We are covered by the Financial Services Compensation Scheme. 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 90% of the claim with no upper limit. For compulsory classes of insurance, 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 0800 678 1100 or by visiting http://www.fscs.org.uk/ Insurer Security The Insurers we use are regulated and are required to have adequate capital resources. However, we cannot guarantee the solvency of any insurer we place business with. An insolvent insurer may be unable to pay claims or may be unable to pay them in full and you may have to pay a further premium to pay for alternative insurance cover.
Money laundering/Proceeds of crime: We are obliged to report to the National Crime Agency any suspicion of money laundering or terrorist financing activity and we are prohibited from disclosing any such report.
Adequacy of insurance values: It is the responsibility of the insured to ensure that all sums insured, and policy limits are adequate. It is strongly recommended that the appropriate Professional (e.g., Surveyor/Accountant) be consulted to ensure that the sums insured and limits under the policy are suitable.
Conflicts of interest/Customers best interests: As insurance brokers we generally act as your agent in advising you, arranging your insurance and assisting you in the event of a claim; we will always act honestly, fairly and professionally ensuring your best interests are our priority. In certain circumstances we may act for and owe duties of care to insurers and/or other parties. Where we become aware of any actual or potential conflict of interest with our duty to you, we will inform you of the situation and the options available to you before we proceed.
Termination: You or we may terminate authority to act in connection with your insurance arrangements at any time. Notice of termination must be given in writing and will be without prejudice to the completion of any transactions already commenced. Any business currently in progress will be completed unless we receive instructions to the contrary. Any premiums or fees outstanding will become payable immediately. In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days' notice.
Law and Jurisdiction: These Terms of Business shall be governed by and construed in accordance with English Law and shall be subject to the exclusive jurisdiction of the courts of England and Wales.