TERMS OF BUSINESS – CLASSIC AND COLLECTABLE CLUB INSURANCES LTD38 Railway Road, Coleraine, Co Londonderry, BT52 1PE, 028 703 44321www.broker@cccinsurance.co.uk
1 Our Service
We act as an independent Intermediary and registered insurance broker on your behalf (the client), offering a range of Insurance products from a limited panel of insurance companies, Lloyds and Underwriting Agencies, details of which are available on request. We offer a continuing service to you, which will include advice on all aspects of your policy and on claims. Our claims service is detailed below.
2 Regulation
We are an appointed representative of James Campbell & Son (Insurance Brokers) who are members of the Financial Services Authority (FSA) and a registered insurance broker (IIB) and are regulated by their Codes of Practice and Rules. Our FSA authorisation number is 306906 and our permitted business is arranging general insurance contracts. This can be verified on the FSA’s register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 6061234. A copy of the code and rules can be viewed on this Website. We are licensed under the Customer Credit Act and Data Protection Act.
3 Disclosure of Information – Your duty to us
We will ask for and seek all relevant information from you in order to recommend an appropriate policy, but it is your responsibility to provide complete and accurate information to Insurers at all times. Insurers request that all “material facts” be disclosed. This is any fact, if known, which may be likely to influence their decision to accept a risk and on what terms. Whilst this is particularly important before taking out a policy and at renewal it applies throughout the life of the policy. If any information supplied changes during the course of the policy period, you must notify us immediately, as this may influence the cover, premium and policy terms and conditions. Please ask our Insurance Advisers what charges if any will be made.
Failure to supply requested information or to provide incorrect information may lead to you buying an inadequate product or could invalidate your insurance leading to unpaid claims. If you have any queries regarding the disclosure of information or as to what constitutes a material fact, please ask the advice of one of our insurance advisers.
4 Our quotation to you
All premiums quoted by us include HM Government Insurance Premium Tax, Administration charges and Legal Expenses.
Although we aim to give correct premium indications at the time, we reserve the right to withdraw quotations before they are taken up and to apply any changes notified to us by underwriters after the indication of premium has been given.
New business documentation and cancellation rights
Temporary insurance cover can be granted under a policy without you providing a completed proposal form, evidence of no claims bonus or any other documentation. However you must undertake to produce these documents within fourteen days of commencement date. Failure to produce documentation within 14 days may result in increased premiums and cancellation of the policy. In the event of the policy being cancelled because of failure to produce documentation, you will be asked to pay a time on risk charge based on the total gross premium.
5 Payment Options and premiums received
We offer a full range of payment options including Cash, Cheques, Credit Card, and Debit Card For further queries please ask any of our insurance advisers. We act as agents for our insurers and receive premiums on their behalf.
6 Cancellation of Policies and Refunds of Premium
You have certain rights of cancellation in the early stages of a policy life. You have the right to reject the product we provided within 14 days from policy inception. However we will need a written explanation of why the policy is being cancelled together the return of all documentation. If you exercise your right to cancel within 14 days of inception, most insurers will make a Pro rata charge and/or administration charge for the number of days on cover. Classic and Collectable Club Insurances Ltd also reserve the right to make an administration charge.
If you wish to cancel your policy, we must receive your instructions, together with your Certificate of Insurance or Cover note where applicable. We cannot cancel classic vehicle or motorcycle policies without your certificate/cover note. Commission will be deducted from any return. We will only refund any monies when the insurer has confirmed the amount on our account. As a result, please allow up to 45 days for a refund. Any refund amounting to less than £10.00 will be left on your account until such times as it can be credited against another premium eg a renewal premium.
Please note that during the first 12 months of cover, no return premium will be allowed following the cancellation of your policy. If you have any queries regarding this, please discuss this with one of our insurance advisers. There will be no return premium following cancellation after an accident.
7 Charges
We reserve the right to make charges in addition to any insurance premiums, for arranging, amending and cancelling your insurance. A list of the charges is detailed below. Commission is earned in full when your insurance is placed.
7.1 Administration Charges
Renewals/New Business - £15 to £25Mid-Term Adjustments - £15 to £25Refunds – Commission deducted
8 Confidentiality & Data Protection
Unless required by law, public interest, our membership of the FSA or with your consent all information you supply will be kept confidential to us and the parties involved in the normal course of arranging and administering your insurance. We will ask a series of questions to ensure that we are speaking to our customer and not a person, who is not authorised to ask questions or to give instructions to us,
We can only take instructions to effect or to alter a policy in some way from the Policyholder or their legal representative.
Under the Data Protection Act 1998 you have a right to see all of the personal information about you that we hold on our records. If you have any queries, please write to James Campbell & Son (Insurance Brokers), 38 Railway Road, Coleraine, Co Londonderry, BT52 1PE. Please note that if you require a printed copy of this information, we reserve the right to make a charge.
9 Your Renewal
When your policy is due for renewal we will send you a renewal reminder 14 days before your due date. Renewal must be confirmed on or before renewal date.
10 Complaints
It is our aim to offer you the best possible advice and service at all times. There may be occasions when you feel our service or the products offered have not met your expectations. If this is the case, please contact Mrs Pamela Doherty either verbally or in writing, who will take details of your concerns and try in the first instance to resolve the situation to your satisfaction.
If we are unable to resolve your complaint, we will acknowledge, in writing, advising you of who is dealing with your concerns and attempt to address your concerns within 5 working days. If our investigations take longer, we will provide a full response within 20 working days or explain our position and provide time scales for a full response.
As members of the FSA, should you fail to be satisfied with our final response you may refer your complaint to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London, E14 9SR.
We are also covered by The Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. Compensation depends on the type of cover arranged and the circumstances of the claim. Advising and arranging Insurance is covered for 100% of the first £2000 and 90% of the remainder of the claims without any upper limit. Information regarding compensation scheme arrangements is available from the FSCS.
11 Claims Procedure
In the event of an accident/claim, you should contact our office immediately at which time you will be advised of the correct course of action applicable to your own circumstances and the requirements of your individual insurer. We can also give assistance with appointing legal representation if required.
30/03/05
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