Terms of Business Agreement

Client Agreement – How we are regulated
Caravan & Leisure Insurance Consultants Ltd t/as CBI Insurance Consultants, 35 Conway Road, Colwyn Bay, Conwy, LL29
7AA. Telephone: 01492 534524. Email: enquiries@cbi-insurance.com.

Client Agreement – How we are regulated
Caravan & Leisure Insurance Consultants Ltd t/as CBI Insurance Consultants, 35 Conway Road, Colwyn Bay, Conwy, LL29 7AA. Telephone: 01492 534524. Email: enquiries@cbi-insurance.co.uk.

The Regulator
The Financial Conduct Authority (FCA) is an independent watchdog that regulates financial services.

Our Financial Services firm reference number is 304354 and you can check our status and permissions at https://register.fca.org.uk or by contacting the FCA on 0800 111 6768.

Law and Language
This Terms of Business is subject to English Law and the jurisdiction of the English Courts. We will use the English language for all communications, the contractual terms and conditions, and any information we are required to supply to you, before and during the duration of the contract.

Our Activities
We are an insurance distributor, which means the FCA has authorised us to arrange, deal in and assist with the placing and administration or prepare in any other way the conclusion of all types of General Insurance policies.

Our service
We are an independent insurance intermediary, and can act both as agent of insurer, and on behalf of you, the customer. We have in place management controls to deal with any conflicts of interest that may arise. Unless we advise you otherwise, we are acting on your behalf.

We also act on behalf of insurers when collecting premiums under risk transfer (see “Money” section).

We will ask questions to enable us to assess reasonably your insurance requirements, this may include checking information that we already hold about you and your existing insurance arrangements with us and other parties.

We will provide you with information only; including generic comparisons between different insurers, you will need to make your own choice, as we will not provide you with any advice or specific recommendations.

We will confirm to you the level of service we are providing as part of our sales process. In all cases our service will include arranging and administering your insurance, including helping you with on-going changes.

If we use the service of another intermediary or distributor to place your insurance, we will advise you the name of the intermediary or distributor we use and the name of the insurer.

Demands and Needs

Consumers
In assessing your demands and needs we will ask you a number of questions. It is your responsibility to ensure you give us complete and accurate answers to any such questions, not only when you take out your policy, but also when you decide to renew or make any changes during the terms of a contract of insurance (this applies to any changes in information relating to any individual names on the policy).

We will not make a specific recommendation and will not provide you with specific advice, we will only give you the relevant information you require, honestly, fairly and professionally and in a way that is in your best interests to enable you to make an informed decision.

We will alert you to important terms and conditions about the contract of insurance, and we will provide you that information when it is most relevant. This may include information about comparable products between different product providers, all of which will enable you to make your own choice about whether to go ahead with any particular contract of insurance.

Non-Consumer
If you are dealing with us in a commercial capacity, you will be under a duty to make a fair presentation. You are therefore required to disclose any matter, which you know or ought to know, that would influence the judgement of an insurer in deciding whether to insure the risk and on what terms.

If you are unsure whether a matter is relevant or not, you should provide sufficient information to put an insurer on notice that it needs to make further enquiries if necessary.

We will not make a specific recommendation and will not provide you with specific advice, we will only give you the relevant information you require, honestly, fairly and professionally and in a way that is in your best interests to enable you to make an informed decision.

We will alert you to important terms and conditions about the contract of insurance, and we will provide you that information when it is most relevant. This may include information about comparable products between different product providers, all of which will enable you to make your own choice about whether to go ahead with any particular contract of insurance.

You will be provided with a statement of your demands and needs as part of our sales process, and you can request a copy at any time during the lifecycle of your insurance arrangement with us.

Our Product Selection (Fair and Personal Analysis)
We offer products from a wide range of product providers (i.e., insurance companies) and sometimes use other distributors (i.e., sub-agents) to access products. Our selection usually involves presenting to a reasonable number of insurance companies that will insure for the risk at hand, and this is called a fair and personal analysis of the market.

Sometimes we may only approach a specified number of product providers (i.e., insurance companies) and this is a Panel, or in some cases, we may only approach one product provider, in either case, we will tell you the basis as part of our selling process.

The processes we have in place means that the characteristics of these products take account of our target customer’s demands and needs and include sourcing products from one or more of the product providers we deal with.

Our Product Selection (Single Insurer)
We only offer this product from one insurer and so do not approach other providers – Static Caravan/Chalet/Park Home/Touring Caravan Insurance.

We will advise you if we are contractually obliged to use any insurer.

Product Oversight and Governance
All of the products we offer are ultimately manufactured in collaboration with product providers (usually the Insurance Companies providing cover); however, because of the nature of our target market, in developing the required products, we elect to involve ourselves as a co-manufacturer of some products we offer, including those provided by Great Lakes Insurance UK Ltd.

In all instances where we co-manufacture, we have put in place a product oversight and governance framework. This framework’s overarching objective is to:

  1. (a)  Take into account the interests and characteristics of our target customers;
  2. (b)  Not adversely affect our target customers;
  3. (c)  Prevent or mitigate any customer detriment we might identify; including procedures for monitoring, reviewing and distributing such products.

Our framework means we have in place written processes, proportionate to the level of complexity and risks related to our products, which we follow stringently, allowing us to ensure any distributors (including us, and our employees) have the necessary knowledge, experience and competence to understand the product and ensure it is consistent with a customer (or potential customers) demands and needs; even where our distribution chain is long, we aim to ensure this goal is met.

Method of Communication
Whilst you do have a choice in the way we communicate with you, we will principally provide you with information using email or postal means (usually this will be email to enable you to access information electronically). During the process of dealing with us, you will be given an option, meaning if you would like information in a paper format, we will be happy to provide it.

Call Recording
Your call may be recorded for training and monitoring purposes. We ensure all call recordings are protected in the same way as any other digital or written data in strict accordance with the General Data Protection Regulator (GDPR) and The Data Protection Act (DPA) 2018.

Training
We maintain training to a minimum standard to ensure our workforce is appropriately skilled, but where specialism in particular activities is required, we have in place more detailed requirements, including the need for our staff to attain a professional qualification where relevant.

Limit of Liability
This clause restricts the amount that may be recoverable as a result of our negligence. Other than injury or death of any person (for which no cap in liability will apply), our liability to you for the services we provide shall not exceed £2,000,000 (GBP) about any one event or connected events.

Conflict Management
Whilst we act in the capacity of agents for our product providers (i.e., the insurance companies we do business with), we are required to have in place appropriate governance controls to help us meet our regulatory objectives. We have in place effective organisational controls, including appropriate supervision, to ensure we manage any conflicts of interests which may arise or may be identified from time to time, this includes gifts and benefits granted and accepted, which may damage the interests of our relationship with either our distributors or our customers.

Our Customers Best Interests
Our primary aim is to ensure, for any customer (or potential customer), that we act honestly, fairly and professionally, and in the customers best interest, including giving customers information they might need to understand the relevance of any information we provide, as well as objectively giving that information when it is most useful to a customer to enable informed decision making.

Financial Strength
We regularly assess the financial strength of the Insurance Companies and other intermediaries that we deal with. The process usually involves general observation of the financial ratings applied by independent rating agencies such as Standard & Poor’s and A M Best published with other readily available information within industry guides, newsletters and press releases. Whilst we take care to deal with companies that maintain reasonable solvency margins, we cannot guarantee their financial ability to pay claims.

Money
We will hold money that you pay to us in accordance with the regulator’s rules or under a risk transfer agreement with insurers. This will include holding your money in one of the following ways:

  • in accordance with our agreements with Insurance Companies that transfer the risk of money we receive from customers to them, these agreements deem any money you pay to us, to be received by them and they will bear the risk of any losses in the event that our firm becomes insolvent. This includes claims money or premium refunds we receive prior to being paid to you.

By holding your money in this way, it means that in the event that this firm becomes insolvent, your money remains protected.

In arranging your insurance, we may employ the services of other intermediaries who are regulated by the FCA and your premium may be passed to these intermediaries for payment to insurers. These firms are also required to hold clients’ money in a separate trust account. We will also inform you if at any time we are required to pass your premium to firms that operate outside the UK where the protection may be different. Should you not wish us to pass premiums to a firm outside of the UK, please inform us.

Insurance Premium Tax (IPT)
Your premium detailed in the policy will include IPT at the prevailing rate.
Should the rate of IPT be amended by the Government, your premium will be amended to reflect the change.

Our Remuneration
We usually receive a commission from the insurance provider with whom we place your business, and this is expressed as a percentage of the premium you pay, and in such a case, the commission will be paid to us either when we are in receipt of cleared funds from you (or the premium finance company, if one has been used) or, when the insurer has received cleared funds from us in respect of the premium due under your policy. The individual agreements we have with each insurer will determine which of the two methods above is used to make this transfer of commission.

We also receive commission for arranging finance agreements for the payment of insurance premiums and this is usually expressed as a percentage of the individual loan and is paid to us directly by the premium finance provider.

We may also receive a commission or fee for passing introductions to other professional firms.

You are entitled to request at any time, information about the commissions that we may have received from your insurance or premium finance agreement. If you want this information, please contact us.

In addition, we may also charge you a fee for arranging your insurance and full details will be provided to you at the outset.

  1. A fee of up to £30.00 may be included in the premium to cover the administrative costs of incepting/renewing the policy;
  2. A fee of £20.00 will be charged if a mid-term adjustment is required;
  3. A fee of £20.00 will be charged if a mid-term cancellation is required;
  4. A fee of £20.00 may be charged for replacement certificates/policy documents;
  5. Refunds (refund NET of our fee): £20.00.

Payment Options
We will provide you with full details of all the payment options available to you when we provide you with your insurance premium.

Premium Finance
If you choose to enter into a finance arrangement, your details will be passed to a third party (insurer or lender) to enable them to contact you, and you should contact us at the address given in this document if you do not want your details passed to that party.

This finance arrangement will be subject to interest charges that we will confirm to you when providing the full details. Importantly, the arrangement you will enter into will be with the finance company not us. It is an entirely separate contract irrespective of the insurance contract. In the event of your failure to meet with the contractual obligations regarding payment, the finance provider could approach the insurer to seek a termination of the insurance contract to recoup their outstanding finance arrears. You will be liable to pay their costs and charges if you do not keep up your repayments and cover is cancelled under your policy. This is because the agreement is between you, the policyholder and the finance company direct, not us or the insurer.

It is important that you read the finance agreement that is sent to you before you agree to enter into such an agreement.

We do not charge any fees to you for introducing you to a credit provider.

If you are a consumer as defined under the Consumer Credit Act, you will have the benefit of a 14-day cooling off period.

Please note that we only use Close Brothers Premium Finance for the provision of premium finance facilities.

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.

Your Right to Cancel (Applicable to Consumers only)
Please contact us if you wish to cancel any policy that we have arranged for you. Customers acting outside their trade or profession (Consumers) will usually have a legal right to cancel policies for any reason, subject to no claims having occurred, within 14 days of receiving full terms and conditions. You will always be advised where this Right applies. A charge may apply for the period of cover provided, and in addition, an administration charge will apply.

Cancellation under this right must be in writing, prior to expiry of the cancellation period, to our usual office address.

Cancellation non-consumer
Commercial insurance policies do not routinely have cancellation rights except those available to the insurer. As a Commercial customer, you do not have the same cancellation rights by law as a consumer, but may still have specific contract rights, and reference should be made to the policy document to ascertain your position.

Where returns of commercial premiums are made on cancellation, it is usually following cancellation by the insurer, not the policyholder. On cancellation of a policy, any refund or premium allowed by the insurer will be paid to you after deducting our annual commission and fees.

Automatic Renewal
Your policy is not set to automatically renew.
It is important that you contact us to arrange cover, as if we do not hear from you, all cover will end on the expiry date. This also applies when paying by Premium Finance.

Complaints
Our aim is always to provide our customers with a first-class service; however we are aware that, occasionally, it is possible that we may fail to meet your expectations. If for any reason we have not met your expectations, let us know as soon as possible, by calling our main office telephone 01492 534524, or write to the Complaints Manager, Caravan and Leisure Insurance Consultants Limited, 35 Conway Road, Colwyn Bay, Conwy. LL29 7AA, or email enquiries@cbi-insurance.co.uk.

If we are unable to resolve the issue to your satisfaction by the end of the third business day following receipt, we will formally investigate the matter. You will receive an acknowledgement of the matter together with a copy of our complaints process promptly and certainly within 5 working days. We will then aim to investigate and provide a resolution as quickly as possible, informing you of a final response no later than 8 weeks.

If you are not happy with our response, or the position after a period of 8 weeks, you may be eligible to refer your complaint to the Financial Ombudsman Service (FOS) for an independent assessment and opinion.

The FOS Consumer Helpline is on 0800 023 4567 (free for people phoning from a “fixed line” (for example, a landline at home) or 0300 123 9123 (free for mobile-phone users paying monthly charge for calls to No’s starting 01 or 02). Alternatively you can contact them at Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square, London, E14 9SR www.financial-ombudsman.org.uk

A full copy of our complaints procedure is available upon request.

Financial Services Compensation Scheme (FSCS)
If we are unable to meet our obligations, you may be entitled to compensation from the FSCS. If we have advised or arranged insurance for you this will be covered for 90% of a claim, without any upper limit, however, claims under compulsory and professional indemnity insurance are protected at 100%. Further information is available from the FSCS. Their free phone number is 0800 678 1100 or 020 7741 4100, and www.fscs.org.uk.

The FSCS is the UK’s statutory fund of last resort for customers of authorised financial services firms. Compensation is usually payable if an authorised firm is unable or unlikely to pay claims usually because it has ceased trading or become insolvent.

Your Data
We aim to process your data responsibly, fairly and in strict accordance with the General Data Protection Regulations (GDPR) and The Data Protection Act (DPA) 2018.

The GDPR modernised data protection law requiring enhanced disclosures about what we do with your information, including (but not limited to):

  • Our lawful bases of processing;
  • The information we collect, and how we use and share that information;
  • How long we keep information, including the purposes (e.g., administer your policy);
  • The technical and organisational measures we have in place to safeguard your information;
  • Your individual rights; and
  • Our approach to marketing

As with many organisations and to ensure Customers can easily access details on the areas listed above, we have developed a separate Privacy Notice which can be found at: www.cbi-insurance.co.uk

It is vitally important to take time to read our Privacy Notice carefully as it contains full details of the basis on which we will process (i.e., collect, use, share and or transfer) and store your information. It is also your obligation to ensure you show our Privacy Notice to all parties related to this insurance arrangement. If you have given us information about someone else, you are deemed to have their permission to do so.

If you have any questions, including obtaining a copy of our Privacy Notice, or any further information about our approach to the GDPR, you can write to us 35 Conway Road, Colwyn Bay, Conwy, LL29 7AA, or email enquiries@cbi-insurance.co.uk.

Marketing
It is extremely important that all parties, insured under your policy, understand how we process information, including that set out in the Marketing Section of our Privacy Notice and this Terms of Business Agreement.

In distributing any marketing, we will act honestly, fairly and professionally and in the best interests of a customer or potential customer, including asking you separately for your permission (consent) to contact you, and the means to contact you (such as by telephone, email or post) to tell you about:

  • new products or services we have or are developing;
  • trialling products and services which we think may improve our service to you or our business processes;
  • offer you rewards;
  • enter you into a competition.

We will typically ask for your permission when you first contact us, but you have the right to easily withdraw your consent whenever you wish (unsubscribe). We will regularly review your consent to check that you relationship with us, and the processing and the purposes have not changed.

If you have consented to receive marketing, you may opt out at a later date.

You have a right at any time to stop us from contacting you for marketing purposes.
If you no longer wish to be contacted for marketing purposes, please telephone 01492 534524, or email enquiries@cbi-insurance.co.uk.

V2 11/2023 

1. Law and Language
This Terms of Business is subject to English Law and the jurisdiction of the English Courts. We will use the English language for all communications, the contractual terms and conditions, and any information we are required to supply to you, before and during the duration of the contract.

2. 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 in particular, we would like to draw your attention to the “IMPORTANT INFORMATION” section. If you do not agree to any part of the information, please tell us. We assume that you accept the terms of this agreement unless we hear from you.

3. Limit of Liability the Company’s Professional Indemnity Insurance Limit of Liability is GBP £2,000,000 (GBP) on any one claim.
This clause restricts the amount that may be recoverable as a result of our negligence.

4. The Regulator
The Financial Conduct Authority  is an independent watchdog that regulates financial services.
The Financial Conduct Authority has authorised us to advise, arrange, deal in and assist with the placing and administration of all types of General Insurance policies.
Our Financial Conduct Authority Register number is 304354 and you can check our status and permissions at http://www.fsa.gov.uk/register/home.do or by contacting the Financial Conduct Authority on 0800 111 6768.

5. Confidentiality and Data Protection
We will exchange the information that you provide to us with insurance companies and other brokers or agents for the purposes of obtaining quotations and arranging cover, this may result in a credit check to confirm your identity and minimise the risk of fraud. We will treat all information as private and confidential, and in strict accordance with the Data Protection Act 1998 (DPA), even when you are no longer a customer and only share information if we are required to do so by law, or regulation.
Under the DPA, you have a right to a copy of any personally identifiable information about you that we hold in our records, you can obtain details by writing to us at the usual address. A nominal charge might apply in providing the information to you.
We will, in addition use information for marketing similar products or services by us and carefully selected companies. Contact may include SMS text, post, telephone or e-mail. If you do not want us to use your information in this way, please let us know.

6. Our Fees, Commission and Charges
We usually receive a commission from the insurance provider with whom we place your business, and in such a case, the commission will be paid to us either when we are in receipt of cleared funds from you (or the premium finance company, if one has been used) or, when the insurer has received cleared funds from us in respect of the premium due under your policy. The individual agreements we have with each insurer will determine which of the two methods above is used to make this transfer of commission. We also receive commission for arranging finance agreements for the payment of insurance premiums and this is usually expressed as a percentage of the individual loan and is paid to us directly by the premium finance provider. We may also receive a commission or fee for passing introductions to other professional firms.
We may make the following charges to cover the administration of your insurance: These charges are non-refundable.

1. Credit Card Payments: 1.5%;
2. A fee of up to £50.00 (Consumers) and up to £150.00 (Commercial) will be included in the premium to cover the administrative costs of incepting/renewing the policy;
3. A fee of £20.00 will be charged if a mid-term adjustment is required;
4. A fee of £20.00 will be charged if a mid-term cancellation is required;
5. A fee of £20.00 may be charged for replacement certificates/policy documents;
6. Refunds (refund NET of our fee).
7. A fee of £50.00 may be charged for processing claims on your behalf.

Policies voided or cancelled from inception by insurers will be treated as a cancellation and we will retain any commission and fees before returning the net premium to you. By accepting these terms of business, you agree that we may retain the portion of the premium that relates to commission that would have been due to us.
Specific charges, which apply to individual policies, will be advised to you before the commencement of each contract applicable to that policy. The specific charge and purpose of any additional charges will always be advised to you in advance.
You are entitled to request at any time, information about the commissions that we may have received in connection with your insurance, if you want this information please contact us.

7. The service we will provide you with
We are an independent insurance intermediary, who acts on our customers’ behalf in arranging insurance, in respect of policies purchased through our website. You will not receive advice or a recommendation from us. We will ask questions to enable us to assess reasonably your insurance requirements, this may include checking information that we already hold about you and your existing insurance arrangements with us and other parties.
We will provide you with information only; including generic comparisons between different insurers, you will need to make your own choice, as we will not provide you with any advice or specific recommendations.
We also act on behalf of insurers when collecting premiums under risk transfer.

8. (a) Our Selection (Fair Analysis)
We offer products from a wide range of insurance companies e.g. Motor Insurance; House/Building and Contents Insurance and Commercial Insurance.
Our selection usually involves presenting to a reasonable number of insurance companies that will insure for the risk at hand, and this is called a fair analysis of the market.
Sometimes we may only approach two or three insurers and this is a limited Panel. Some of the products involved are: Pet Insurance, Travel Insurance, Legal Expenses Insurance and Marine Insurance.
In some cases, we may only approach one insurer, in either case, we will tell you the basis as part of our selling process. Y ou can also request a list of the companies that form the Panel we have approached.
Sometimes we will only approach one insurer, in which case we will tell you as part of our selling process
(b) Our Selection (Single Insurer)
We only offer this product from one insurer – Caravan/Park Home Insurance

9. Financial Strength
We regularly assess the financial strength of the Insurance Companies and other intermediaries that we deal with. The process usually involves general observation of the financial ratings applied by independent rating agencies such as Standard & Poor’s and A M Best published with other readily available information within industry guides, newsletters and press releases. Whilst we take care to deal with companies that maintain reasonable solvency margins, we cannot guarantee their financial ability to pay claims.

10. Payment Options
We normally accept payment by the following credit/debit cards – Visa, Mastercard, Switch and Maestro.
If you choose to enter in a finance arrangement, this will be subject to interest charges that we will confirm to you when providing the full details. Importantly, the arrangement you will enter into will be with the finance company not us. It is an entirely separate contract irrespective of the insurance contract. In the event of your failure to meet with the contractual obligations regarding payment the finance provider could approach the insurer to seek a termination of the insurance contract to recoup their outstanding finance arrears. You will be liable to pay their costs and charges if you do not keep up your repayments and cover is cancelled under your policy. This is because the agreement is between you, the policyholder and the finance company direct, not us or the insurer.
Please note that we only use Close Premium Finance for the provision of premium finance facilities.
Your policy cover will cease, if you fail to keep up payments on an instalment agreement or premium finance facility related to it.

11. Money
We will hold money that you pay to us in accordance with the regulators rules or under a risk transfer agreement with insurers. This will include holding your money in one of the following ways:
Client money may be held in designated investments and we will keep any investment returns earned.
A statutory trust client bank account that only allows us to use the money held in trust on behalf of a customer for paying that customers’ premium to an insurance company and to pay premium refunds or claims we receive from that insurance company to the customer, once the premium has been received from that insurance company. We cannot use that customer’s money to pay another customer’s premium or refund. Also for this reason it is not possible for you to offset the refund against premiums owed on another policy. We do not pay any interest on premiums held by us in the course of arranging and administering your insurance, unless, in the case of consumer transactions we receive more than £20 per transaction, and then we will ask for your permission to retain the interest. Unless you tell us otherwise, you are consenting to us holding your money in this way.
By holding your money in one of these ways, means that in the event that this firm becomes insolvent your money remains protected.
In arranging your insurance we may employ the services of other intermediaries who are regulated by the Financial Conduct Authority and your premium may be passed to these intermediaries for payment to insurers. These firms are also required to hold clients’ money in a separate trust account. We will also inform you if at any time we are required to pass your premium to firms that operate outside the UK where the protection may be different. Should you not wish us to pass premiums to a firm outside of the UK, please inform us.

12. What to do if you have a complaint
Our aim is always to provide our customers with a first-class service; however we are aware that, occasionally, it is possible that we may fail to meet your expectations. If you need to make a complaint, in the first instance, you should contact us either in writing to Mrs Karen Jones, Office Manager, Caravan & Leisure Insurance Consultants Ltd, 35 Conway Road, Colwyn Bay, Conwy LL29 7AA, email kjones@cbi-insurance.com, or by telephone/fax on Telephone 01492 534524 or fax 01492 533918.
We will provide you with a copy of our full complaints procedure and respond to you promptly. We will keep you informed of the progress of your complaint and aim to make a final response to you within 8 weeks, or keep you informed as to why this is not possible. In the event that your complaint relates to activities or services provided by another party, we will ensure that your complaint is appropriately forwarded in writing, and will track the progress of the complaint and responses of that party.
After our final response has been issued, if you still cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (FOS) for an independent assessment and opinion.
The FOS Consumer Helpline is on 0800 023 4567 (free for people phoning from a “fixed line” (for example, a landline at home) or 0300 123 9123 (free for mobile-phone users paying monthly charge for calls to No’s starting 01 or 02), and their address is Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square, London E14 9SR.
A full copy of our complaints procedure is available on request.

13. Your Right to cancel (Applicable to Consumers only)
You have a legal right to cancel your policy for any reason, subject to no claims having occurred, within 14 days of receiving the full terms and conditions. You will always be advised where this Right applies. A charge may apply for the period of cover provided and if you wish to cancel a policy you must advise us in writing, prior to the expiry of the 14-days cancellation period, to our usual office address.

14. Financial Services Compensation Scheme (FSCS)
If we are unable to meet our obligations, you may be entitled to compensation from the FSCS. If we have advised or arranged insurance for you this will be covered for 90% of a claim, without any upper limit. Compulsory classes of insurance (such as motor insurance) is covered for 100% of the claim, without any upper limit. Further information is available from the FSCS. Their free phone number is 0800 678 1100 or 020 7741 4100. Their website is www.fscs.org.uk.
The FSCS is the UK’s statutory fund of last resort for customers of authorised financial services firms. Compensation is usually payable if an authorised firm is unable or unlikely to pay claims usually because it has ceased trading or become insolvent.

15. Insurance Premium Tax (IPT)
Your premium detailed in the policy will include IPT at the prevailing rate.
Should the Government amend the rate of IPT, the insurer will amend your premium, to reflect the change.
Some polices are subject to Value Added Tax (VAT) not IPT and should the rate of VAT be amended by the Government, your premium will be amended by the insurer to reflect the change.

16. Termination
You may cancel this agreement with us at any time. You must provide at least 14 days written notice of instructions. We also

reserve the right to cancel this agreement at any time. In any event, we will provide you with reasonably sufficient time to re- arrange your insurance and we will notify you of termination in writing together with an explanation if appropriate.

17. Hours of Business
Our normal hours of business are 9.00am to 5.00 pm Monday to Friday. These times exclude public and bank holidays.