Terms of Business

UKinsurancenet Terms of Business

The Financial Services Authority

UKinsurancenet is the trading title of Internet Insurance Services (UK) Limited which is authorised and regulated by the FSA (Financial Services Authority). Our FSA Registration number is 300859.
Our permitted business is advising on and arranging non investment insurance contracts.

You may consult the FSA’s register by visiting the FSA website, http://www.fsa.gov.uk/Pages/register/ or by contacting the F.S.A. on 0845 606 1234.

Our Services

Our role is to advise and make a suitable recommendation after we have assessed your particular needs. In situations where we are able to arrange insurance services for you, but do not offer advice, we shall confirm that position to you in writing.
For certain types of insurance policies we are authorised to issue policy documents on behalf of the underwriters.
We will not in any circumstances, act as the insurer nor guarantee or warrant the solvency of any particular insurer.

Personal insurance:

We offer products from a range of insurers and underwriters for the majority of non-investment household insurance and personal protection products. The range available may also include but is not limited to, let property insurance, holiday home insurance, payment protection insurance, caravan, horse, and leisure insurance as well as, term life, critical illness and income protection insurance.

You may ask us for a list of insurers we deal with for any of these products.

Commercial insurance:

We select commercial insurance products and services from a wide range of insurers but, for certain products, we may only deal with a selected number of insurers or even a single insurer.

Direct Offers

Some of the insurance and financial service quotations and the supporting information we provide from our Internet web sites are made on a direct offer basis. This does not; therefore constitute a personalised advice service. In these circumstances no recommendation is made by us as to whether the specified products are suitable for you and match your specific personal circumstances.

Quotations

Quotations offered are based on the information provided to us on a given date, valid for acceptance at that time and for only the exact circumstances and criteria given by you the customer. Please be aware that on occasions individual insurers may vary the rate they charge, their terms and/or conditions without prior notice, which can in some circumstances, invalidate the insurance quotation. Insurers reserve the right to decline any proposal, or vary their terms of acceptance. We must therefore also reserve this right.

Methods of Payment and Charges for our Services

We normally accept payment by guaranteed cheque, debit or credit card. You may be able to spread your payments on some products and services, subject to an additional charge, either through an insurer’s instalment payment scheme, or a credit scheme that we have arranged with a finance provider.
Full information about payment options will be provided to you on demand and when arranging your insurance.
You will receive a quotation, which will normally include commission that the insurer pays to us.
Occasionally fees may be charged in addition to, or instead of any commissions. UKinsurancenet may also occasionally be paid commission on arranging credit agreements.
Your quotation will show you the total price to be paid, together with any fees, taxes and charges separately from the premium, before your insurance arrangements are finalised.
Where commission levels offered by insurers or underwriters are insufficient to allow UKinsurancenet to offer its services profitably, we reserve the right to apply certain charges to property insurance policies in respect of administration and brokerage costs. Any specific charge and purpose of any additional charges will always be advised to you in advance, in line with the F.S.A. rules.
In addition to the premiums charged by underwriters or insurers, we normally make the following charges to cover the administration of your property related insurance:

Arranging new policies	£10
Direct Debits	Charges may vary from insurer to insurer
Instalment plan 3 Month	3% of total premium (min £10)
Instalment plan 4 Month	4% of total premium (min £10)
Late payment	Interest charged at 3% over Barclays Bank base rate
Mid Term adjustment	£10
Payments by credit card	2 % of transaction amount
Policy Cancellation (see table below)	£10 plus refund of premium as detailed in the table below.
Renewal of paperwork	£10
Replacement of insurance documentation	£10
Unpaid Direct Debit or cheques	£10

Cancellation of Insurances

You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance should be returned to us or to the insurer concerned. In the event of cancellation, charges for our services will apply in accordance with the Tariff of Fees (above). 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. Please refer to your individual policy Terms and Conditions for further information.
Policy cancellation rights and terms and conditions vary between insurers. Your insurance contract may include a cancellation clause. Cancellation refunds are not normally given after a claim and are otherwise calculated on a short period scale weighted in favour of the insurers. Some insurers maintain that their costs are similar whether a policy has run for one day or a year. Please refer to the scale below.

Month	Charge
Month 1	Minimum of 50% refunded
Month 2	Minimum of 40% refunded
Month 3	Minimum of 30% refunded
Month 4	Minimum of 20% refunded
Month 5	Minimum of 10% refunded
Month 6 - 12	Minimum of 0% refunded

Wherever possible, refunds will be greater than shown in the scale shown above; however, we reserve the right to use the above tariffs.

Please note no refunds can be given until funds are returned to us from the insurer.
In the event of a policy being amended or cancelled we will deduct our commission from all premiums rebated by the insurers in addition to the above administration charge tariffs.

In view of the costs involved in making changes to your policy, we will not issue refunds of less than £10.00.

Premiums for some policy types (for example; travel, liability etc.) are non refundable. In addition to the above tarriff scale, charges for credit card use and installment fees are non-refundable.

Changing your mind

You may cancel your policy within the first 14 days, or 30 days for a personal protection policy, without incurring a charge over and above the administration fee. Commercial customers do not have a right to cancel without incurring further charges.

Premium Finance

Where payment of your premium is to be made over a given period of months, the insurance underwriters or credit companies may apply to obtain credit references. You have the option to cancel your credit agreements at any time; however the full balance of premium will then become immediately payable. In the event of non payment or default of an installment, you will receive written confirmation of the outstanding balance, together with the date before which any outstanding premiums must be paid. Failure to pay the balance of premium prior to the given deadline date will result in the immediate termination of the said policy. Any return premiums following a cancellation of a policy will be used to offset the unpaid balance. Under some circumstances, the refund may not meet the debit balance and you will be required to pay the fiscal difference.

Handling Client Monies and/or Insurer Monies

For your protection, our financial arrangements with most insurance institutions are on a "risk transfer" basis, which means that we may hold premiums and any refunds due to clients on behalf of the relevant insurance undertaking and under a "risk transfer" arrangement. Such money is deemed to be held by the insurer with which your insurance is arranged.

We hold client monies, collected for onward transmission to the insurance undertaking in a Client Bank Account, under a Non-statutory Trust in accordance with the authorisation given by the Financial Services Authority. A copy of the Deed of Trust is available, on request or alternatively may be inspected at our premises during normal office hours (9am to 5pm) Monday to Friday. If you object to your monies being held in a non-statutory trust account you should advise us immediately. Otherwise your agreement to pay the premiums, together with your acceptance of our Terms of Business will constitute your informed consent for the placing of any such monies in a non statutory trust account.
Please note that our client bank account is completely separate from our trading bank accounts.
For the purpose of some transactions, client monies may pass through other authorised intermediaries before it is passed to the insurance undertaking.
Interest will not be paid to customers or clients in respect of money held in client bank accounts.

Professional Indemnity Insurance

We conform to the F.S.A code in respect of Professional Indemnity Insurance. This type of insurance is mandatory under the F.S.A rules.

Changes to Your Insurance Cover

We will normally try to deal with any requests to increase or amend your insurance cover on the same day we receive your instructions, or within three working days if a weekend / public holiday. Sometimes changes may not be processed without obtaining additional information. If additional information is required we will contact you the customer as quickly as possible.

We will confirm any changes to your insurance policy, once agreed with underwriters, in writing. We will also advise you of any extra premiums, charges, fees or additional conditions, terms or warranties required.

Please note that instructions sent to us by post, fax, or electronic mail are not deemed to be received until they actually reach the relevant personnel in our offices. We cannot accept responsibility for failures or delays in the postal, electronic or telecommunications systems.

Awareness of Policy Terms

When an insurance policy is issued you are strongly advised to read the documents and paperwork carefully, as it is that document, the schedule and any certificate of insurance that is the basis of the insurance cover you have purchased. If you are in any doubt whatsoever over the terms and conditions, please seek our advice promptly.

Renewal of Policy Cover

We will take it that you wish to receive a renewal notice from us in advance of the expiry of your Insurance cover (other than one off contacts). If you do not wish to receive such a renewal offer, please contact us. If an insurer or underwriter does not offer a renewal for whatever reason, we will do our best to give you reasonable notice and will endeavor to obtain a quotation with other underwriters.

Termination of Authority

You may terminate the authority to act on your behalf with one months notice or as otherwise agreed. Notice of this termination must be given in writing and will take effect from the date of receipt. Termination of authority is without prejudice to any transactions that have already been initiated which will be completed according to our terms of business unless otherwise agreed in writing. You will be liable to pay for any transactions or adjustments prior to termination and we shall be entitled to retain any fees or brokerage payable in relation to insurance policies placed by us, prior to the date of termination.

Your Duty of Disclosure

You are responsible for providing the complete and accurate information, which insurers require in connection with any proposal for insurance cover. This is particularly important before taking out a policy and at renewal, but it also applies throughout the life of a policy. If you fail to disclose any material fact or other information material to the insurance this could invalidate the policy and mean that claims may not be paid. You should check all details on any proposal form or Statement of Fact.

You should read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply. Particular attention should be paid to any warranties and conditions as failure to comply with them could invalidate your policy.

You should take note of the required procedures in the event of a claim, which will be stated in the policy documentation. Insurers generally require immediate notification of a claim or circumstances that might lead to a claim.

You should inform us immediately of any changes in circumstances that may affect the services provided by us or the cover provided by your policy.

If you are unsure about any matter, please contact us for guidance.

Buildings Sums Insured

UKinsurancenet are unable to offer direct advice on rebuilding costs (reinstatement values) of properties, and we would always recommend that the services of a building surveyor, architect or similar are used to confirm property rebuilding costs. A current Mortgage Valuation Report carried out on behalf of a mortgage lender may also show the correct property rebuilding cost. UKinsurancenet may recommend that their clients consult the Royal Institute of Chartered Surveyor's (RICS) website (www.bcis.co.uk) to help calculate the property rebuilding cost. Should we receive a request from any of our clients, policyholders, or potential policyholders, to visit the RICS website on their behalf for the purpose of calculating the rebuilding cost of a property, then UKinsurancenet will not be held responsible for any errors or inaccuracies resulting from this service. UKinsurancenet recommend that any rebuilding cost obtained by them on behalf of their clients, policyholders, or potential policyholders should be independently checked on the RICS website by the client, policyholder, or potential policyholder.

Money Laundering/Proceeds of Crime Act

Sales of certain products fall under the Money Laundering regulations; this requires us to obtain evidence of a client’s identity at the start of a business relationship. We may ask for sight of your passport, utility bill or bank statements. For companies, evidence usually consists of a copy of the Certificate of Incorporation or we may check the Companies House register.

Conflict of Interests

Occasions can arise where we or one of our associated companies, clients or product providers will 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 detail the steps we will take to ensure fair treatment.

Confidentiality of Personal Data

Any information we may hold about you, whether on our computer system or on paper will be treated as private and confidential. We will only use and disclose the information we have in the normal course of administering or arranging insurance cover on your insurance policy. You agree that we may pass information about you to a credit reference company for the purposes of arranging insurance payments by installments. We may also pass details of your payment record with us if so required. May we also draw your attention to the fact that most insurers share and exchange information for underwriting purposes. Sharing your information via various databases also helps claim settlements and helps to prevent fraud.

We may, from time to time, use the information we hold about you to send you information on other products and services, which we offer, and which we feel may be appropriate. If you do not wish to receive any marketing information from us, please write to us at the address below and we will mark our records accordingly. 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 at the address below.

IMPORTANT
Insurers pass information to the Claims and Underwriting Exchange run by Insurance Database Services Ltd. and the Insurance Anti-Fraud and Theft Register run by the Association of British Insurers. The aim is to check information provided and also prevent fraudulent claims. In the event of a claim the database may be used by Insurers to identify relevant policy information.

Complaints and compensation

It is always our intention to provide a first class service. Our aim is to provide this level of customer service at all times, but if you are not satisfied, contact us:

in writing... Write to the Customer Service Manager, at UKinsurancenet
by phone... Telephone 0844 875 55 55

We have laid down procedures for dealing with complaints. Should we receive any complaints then they are acknowledged within 5 business days. This initial response will include a written copy of our procedures; copies of these procedures are available on request.
Should you not be satisfied with our final response, you may refer the matter to the Financial Ombudsman Service.

Access to the FOS is available for complainants coming within one of the following categories at the time we receive their complaint:

• Consumers (e.g. private individuals)
• Before 1st November 2009 - businesses with a group annual turnover of under £1 million
• From 1st November 2009 - businesses employing fewer than 10 persons and with a turnover or annual balance sheet total not exceeding £2 million
• Charities with an annual income of under £1 million
• Trustees of a trust with a net asset value of under £1 million

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 is dependant on the type of insurance, size of the business (if a commercial customer) and the circumstances of the claim. Further information is available as follows:

• Until 31st December 2009 - Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim without any upper limit
• From 1st January 2010 - Insurance advising and arranging is covered for 90% of the claim, without any upper limit

Download our Initial Disclosure Document & Terms of Business in Adobe Acrobat Format

Governing Law

Our Terms of Business will be governed by and construed in accordance with English Law.

NOTE. Your acceptance of these Terms of Business does not affect your normal legal rights