72 ST Pauls Road, Coventry CV6 5DF
Terms of Business for general insurance products and services

1. Introduction

These terms of business letter sets out the basis on which we will conduct general insurance business with you. The terms shown are effective from the date upon which you receive it from us and remain in force until you receive revised terms.

2. About Us

We are independent insurance brokers and provide a range of general insurance products & services. These will be from a range of insurers. At all times while we act for you we will use our professional expertise to provide a suitable product or service to meet your needs and requirements. We are authorised and regulated by the Financial Services Authority. The FSA is the independent watchdog that regulated financial services and our registered number is 486800. Our details can be checked on the FSA website at www.fsa.gov.uk.

3. Account Payment

Payment terms are seven days from the date of the invoice, unless payment is via instalments direct to the insurer or an external finance arrangement. Any instalment deposit payment must be paid within seven days of receiving the instalment from us. Any agreement separate to this will be confirmed in writing by us to you. Where premiums are paid by instalments, we will be under no duty to monitor the payment of instalments. If cover is withdrawn because an instalment has not been paid, we do not accept any liability arising from this. We do not accept cash payments in excess of £100.

4. Non Account Payment

Whilst we will always endeavour to maintain policy cover for clients, we cannot guarantee cover where payment of the account outside of the payment terms has occurred. Any extension to the account payment period needs to be agreed with us and confirmed in writing by us to you.

5. Lien Over Claims Monies

In the event of non payment of premiums, we reserve the right to place a hold on the payment of any outstanding claims monies due, until the outstanding amounts are settled.

6. Our Remuneration

We will receive our remuneration via one of the undernoted methods.

• A commission payment from the insurer, which we will disclose to you upon request
• A fee, within or in addition to the agreed premium, which will be advised to you in writing
• A combination of a commission and a fee
• Consultancy fees for services additional to our normal insurance broking services.

All instructions received by you either verbally or in writing or by representatives of your company are binding and any remuneration arising from such instructions will be deemed to be earned in full. In event of a policy of insurance being cancelled, or amended, and a demand made for the recovery of commission from the insurer to us, you will be liable to pay the commission being recovered to us. Any fees charged by us are non-refundable. Commission is deemed to be earnt by us upon receipt of the premium from you. In addition to client fees and/or commission payments we may also receive remuneration by way of interest earned on insurance monies passing through our bank account and profit commissions paid by insurers which are not identifiable to any specific client.

7. Cancellation

You may have a statutory right to cancel this insurance within 14 days. Please refer to your policy summary or your policy document for further details. If you cancel after 14 days you will receive a pro rate of premium from the insurer. We may also keep an amount that reflects our administrative costs of arranging and cancelling the insurance.

8. Client Money

Client Money is money that we receive and hold in the course of carrying on insurance mediation on behalf of clients. Client Money will be held by us in a statutory trust account in accordance with FSA client money rules.

9. Claims

We will endeavour at all times to bring claims to a satisfactory conclusion using our written procedures. It is the duty of the client to provide all information as reasonably requested by the insurer, loss adjuster or by us. You must notify us as soon as possible of a claims or circumstances which may give rise to a claim. We will advise you what you need to do to pursue your claim and you will need to state all material facts concerning the claim. In the event of an insurer becoming insolvent we do not accept liability for any unpaid amounts.

10. Duty of Disclosure

You must disclose to insurers before the insurance contract is concluded any fact or circumstance which is known to you or which ought to be known to you in the ordinary course of business and which is material to the risk. You must also advise us immediately of any material alteration to the risk.

11. Claims Information Sharing

Insurers share information with each other to prevent fraudulent claims and for underwriting purposes. The submission of bogus information or false documentation on support of a claim may invalidate the whole claim.

12. Proposal & claims information

The information you supply on a claim form or proposal form or at any point verbally or in writing to us may be provided to other insures for the purpose of re-broking or claims settlement. Where proposal forms are completed on your behalf from our records or conversations with you, a copy of the proposal form will be forwarded to you and you are responsible for advising us of any material changes or inaccuracies.

13. Information To Third Parties

Where requested by your financiers, accountants or solicitors for information such requests will be completed without reference to you, unless otherwise agreed with ourselves.

14. Data Protection and Confidentiality

We will treat any information received by us from you with due care and where appropriate in accordance with the data protection act 1998

15. Complaints

We will endeavour to deal with all aspects of your insurance requirements in a professional manner. Should you not be satisfied with any aspect of our service, you should refer the matter initially to your account executive. If you remain unsatisfied, you may request that a review of your case be conducted by the partners of Century Crest. Your complaint will be acknowledged in writing within five days and the investigation completed within 14 days of your request and a written reply submitted to you. If you are a retail customer as defined by the FSA and are still not satisfied you can take your complaint to the financial ombudsman service. Details are available on request.

16. Money Laundering

We are obliged to report to the national crime intelligence service any evidence or suspicion of money laundering and we are prohibited from disclosing to you any such report.

17. Law & Jurisdiction

These terms of business shall be governed by and construed in accordance with English Law. In relation to any legal action or proceedings arising out of these terms of business we both irrevocably submit to the non-exclusive jurisdiction of English courts.