F & N ( Reading) Ltd t/a Independents
Unit 5, Winnersh Fields, Gazelle Close, Winnersh, RG41 5QS
Phone: 01189 875100 Fax: 01189 875333
E-mail: Info@Independents-ins.com www.independents-solutions.co.uk
By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business. We draw your particular attention to:
The section headed ‘Use of personal data’ and specifically the paragraph explaining how ‘sensitive personal data’ will be used.
For your own benefit and protection, you should read these terms carefully. If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you, please contact us at the above address.
‘Independents’ is a trading name of F & N (Reading) Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Our FCA Register number is 586577. F & N (Reading) Ltd is registered in England under Company number 8087666. Our Registered Office is at the address stated above.
Our permitted business is introducing, advising, arranging, dealing as agent and assisting in the administration and performance of general insurance contracts and credit broking in relation to insurance instalment facilities. You may check this on the FSA’s register by visiting the FCA website, www.fca.gov.uk/register/ or by contacting the FCA on 0800 111 6768.
Our role is to advise you in relation to your insurance needs at all times and, after we have assessed your needs, to make a suitable recommendation. Where we can offer the availability of an instalment facility in order to pay the insurance premiums by regular premiums, we do not offer advice in relation to this but we may ask some questions to narrow down the selection of options available; you will then ned to make your own choice on how to proceed. We will not in any circumstance guarantee the solvency of any insurer.
In providing our service, we may sometimes act as an agent of the insurer. We will confirm the capacity in which we will act for you before undertaking any relevant transactions on your behalf.
We select personal and commercial insurances from a range of insurers. but for certain products we only select products from a limited number of insurers or only offer products from a single insurer. We will give you further information about this before we finalise your insurance arrangements; where we select products from a limited number of insurers you may ask us for a list of the insurers we deal with for these products.
We may be able to offer finance for insurance instalments through the insurer and/or premium finance providers. We will give you further information about this before we finalise your instalment arrangements. If we propose using another intermediary to help place your business, we will confirm this to you in good time before any arrangements are finalised.
We aim to provide you with a high level of customer service at all times but, if you are not satisfied, please contact us:
in writing to: Frank & Neil Adebowale Unit 5, Winnersh Fields, Gazelle Close, Winnersh, RG41 5QS
by phone: Telephone 01189 875100
by email: email@example.com
When dealing with your complaint, we will follow our complaint handling procedures; a summary of these procedures is available on request.
If you are still not satisfied, you may be entitled to refer the matter to the Financial Ombudsman Service (except in the case of a business employing 10 persons or more and with a turnover or annual balance sheet total exceeding €2 million, a charity with an annual income of £1m or more or trustees of a trust with a net asset value of £1m or more).
We are covered by the Financial Services Compensation Scheme (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. If you are eligible to claim from the FSCS, compensation is available for insurance advising and arranging for 90% of a claim, without any upper limit, but for compulsory classes of insurance (such as Third Party Motor or Employers Liability), 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 020 7892 7300 or www.fscs.org.uk.
We normally receive commission from insurers or product providers.
You will receive a quotation which will tell you the total price to be paid, and which identifies any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded. With certain insurers and products, the commission obtainable is insufficient to cover our costs. Where this occurs, we may also charge you a fee in addition to the commission that we receive from the insurer. We will always advise you of the fee amount before you incur a liability to pay such fees.
In good time before conclusion of each insurance contract, or upon renewal we will remind you of your right to be informed of the level of commission which we receive from underwriters. You are entitled, at any time, to request information regarding any commission which we may have received a as a result of placing your insurance business. We also draw your attention to the sections headed ‘Cancellation of insurances’ and ‘Ending your relationship with us’.
Our financial arrangements with most insurance companies are on a ‘Risk Transfer’ basis. This means that we act as agents of the insurer in collecting premiums, handling refunds due to clients and the transfer of claim monies. Such monies are deemed to be held by the insurer(s) with which your insurance is arranged. The establishment of the Non -Statutory Trust account follow FCA rules introduced to protect money held by authorised intermediaries. However, you should be aware that, under the Non-Statutory Trust account rules, we are permitted to use such monies temporarily held to advance credit to clients generally. A copy of the Deed of Trust is available on requite or may be inspected at our premises during normal office hours. If you object to your money being held in a Non-Statutory Trust account, you should advise us immediately. Otherwise, your agreement to pay the premium together with your acceptance of these Terms of Business will constitute your informed consent to our holding your money in a Non-Statutory Trust account. Interest earned on monies held in such a Non-Statutory Trust account will be retained by use.
You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance must be returned to us or to the insurer concerned. The terms of your policy may allow insurers to retain the premium in full or to charge short-period premiums in the event of cancellation before the policy expires. In the event of cancellation, charges for our services will apply in accordance with the ‘Payment for our services’ section above
Subject to your immediate settlement of any outstanding premiums and fees, you may instruct us to stop acting for you and we will not impose a penalty. Your instructions must be given in writing and will take effect from the date of receipt.
In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days notice.
Unless otherwise agreed in writing, if our relationship ends, any transactions previously initiated will be completed according to these Terms of Business. You will be liable to pay for any transactions concluded prior to the end of our relationship and we will be entitled to retain commission received for conducting these transactions
If you are a consumer, you are responsible for answering any questions in relation to any proposal for insurance cover honestly and to the best of your knowledge, providing complete and accurate information which insurers will require. This also applies to your responses in relation to any assumptions you may agree to in the process of applying for insurance cover. This is particularly important before taking out a policy but also at renewal or if you make a mid-term amendment to your policy.
If you fail to disclose information, or misrepresent any fact which may influence the insurer’s decision to accept the risk or the terms offered, this could invalidate the policy and mean that claims may not be paid.
If you are a commercial customer you have a duty to give a fair presentation of risk to the insurer. This means that you should disclose every material circumstance relevant to the risk being insured following a reasonable search within your business to identify and verify such information. This should include information which you and where applicable your senior management, persons responsible for arranging your insurance or other relevant third parties know or ought to know and should include all information that would influence the judgement of the insurer or that would put the insurer on notice that it needs to make further enquiries.
Examples of material circumstances are:
♦ Special or unusual circumstances relating to the risk;
♦ Any particular concerns which led you to seek insurance cover for the risk; and
♦ Anything which those concerned with the class of insurance and field of activity in question would generally understand as being something that would be dealt with in a fair presentation of risks for this type of insurance.
The information must be presented in a way which would be reasonably clear and accessible to a prudent insurer. If you are unsure whether to disclose any information you should speak to us. You need to take into account the size & complexity of your business, and allow yourself sufficient time before your renewal date to consider and / or assess your insurance requirements.
Failure to provide a ‘fair representation’ may result in a number of remedies by the insurer. If the breach was deliberate or reckless the insurer can void the contract and keep the premium. If the breach was not deliberate or reckless the insurer can void the contract, proportionately reduce a claim settlement or amend the insurance policy terms and conditions then review the merits of a claim on this basis.
You should therefore always provide complete and accurate information to us when we ask you about the insurance risks your business faces before taking out a policy, at renewal and throughout the life of the policy. This also applies to your responses in relation to any assumptions you may agree to in the process of applying for insurance cover.
We will process any personal information we obtain in the course of providing our services to you in accordance with the Data Protection Act 1998. In administering your insurances, and where applicable arranging premium finance, it will be necessary for us to pass such information to insurers and other product or service providers which may also provide us with business and compliance support.
We may also disclose details to relevant parties, as necessary, to comply with regulatory or legal requirements. We will not otherwise use or disclose the personal information we hold without your consent. Some of the details you may be asked to give us, such as information about offences or medical conditions, are defined by the Act as sensitive personal data. By giving us such information, you signify your consent to its being processed by us in arranging and administering your insurances.
To help make sure you get our best deal, to ascertain the most appropriate payment options for you and to help prevent fraud, some insurers and finance providers use public and personal data from a variety of sources, including credit reference agencies and other organisations. Any credit reference agency search will appear on your credit report whether or not your application proceeds.
Subject to certain exceptions, you will be entitled to have access to your personal and sensitive personal data. If at any time you wish us, or any company associated with us, to cease processing any of the personal data or sensitive personal data we hold, or to cease contacting you about products and services, please write to Frank Adebowale at the address noted above.
Occasions can arise where we, or one of our clients or product providers, may have a potential conflict of interest with business being transacted for you. If this happens, and we become aware that a potential conflict exists, we will write to you and obtain your consent before we carry out your instructions and we will detail the steps we will take to ensure fair treatment.
You should take note of the required procedures in the event of a claim, which will be explained in the policy documentation. Generally, insurers require immediate notification of a claim or circumstances which might lead to a claim. We will employ due care and skill if we act on your behalf in respect of a claim.
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