Terms of Business
(Please sign two Terms of Business, retaining one copy and
returning the other to Sturdy Edwards)
We/us/our means Sturdy Edwards (Insurance Brokers) Limited. 193-193A London Road, East Grinstead, West Sussex RH19 1HA. Telephone Number: 01342 313733, Fax Number: 01342 410320. We are authorised to transact business by the Financial Conduct Authority (Membership Number 300394). The FCA regulates sales, advisory and service standards to ensure that commercial insurance customers are treated fairly. You can check this information by visiting the Financial Conduct Authority website: www.fca.org.uk. You can also obtain a copy of the FCA Private Code from their website.
2. Our Services
We are independent intermediaries who act on your behalf in arranging your insurance. Our service includes: advising you on your insurance needs; arranging your insurance cover with insurers to meet your requirements, and helping you with any ongoing changes you have to make. For some of the policies we arrange, you will deal directly with the insurer for ongoing policy administration. As part of our service, we will also assist you with any claim you need to make. We can also issue policies on behalf of certain insurers. We offer a wide range of personal and commercial insurance products and have access to the leading insurers in the marketplace. On occasions we may use the services of another authorised FCA intermediary to place cover if it is considered appropriate to best meet your needs. We do not have any interest in any insurer with whom we place business.
3. Insurance Contract
Your contract will be provided on the basis of a fair analysis of the market and only relates to contracts arranged on your behalf by ourselves. The exception to this is legal expenses cover attached to a motor or household policy, where the contract will be effected with a single insurer.
It is our intention to communicate with you in a clear, fair and not misleading manner. If there is anything you do not understand, please ask for an explanation. Any alterations or amendments to the insurance contracts received by any means will not be effective until such changes are confirmed in writing to you.
4. Awareness of Policy Terms
When a policy or other insurer documentation is issued you are strongly advised to read it carefully, as it is these documents, the Schedule and any Certificate of Insurance, that forms the basis of the insurance contract you have purchased. If you are in doubt over any of the policy terms or conditions, please seek our advice promptly.
5. Your Duty to Disclose Information
It is your responsibility to provide complete and accurate information to insurers when you take out your insurance policy, throughout the life of your policy, and when you renew your insurance. It is important that you ensure that all statements you make on proposal forms, claim forms, and other documents, are full and accurate. Please note that if you fail to disclose any material information to your insurers, this could invalidate your insurance cover and could mean that part or all of a claim may not be paid. Please consult us if you have any doubts as to what information you need to disclose.
6. What To Do If You Have A Complaint
It is our intention to provide you with a high level of customer service at all times. If there are occasions when we do not meet your standards, and the complaint cannot be resolved within one working day, please contact the Managing Director, either verbally or in writing, who will take details of your concerns. We will acknowledge in writing, advising you of who is dealing with the matter, and attempt to address the issue within five working days. If our investigations take longer, we will provide a full response within twenty working days, or explain our position and provide timescales for a full response. As we are members of the FCA, should you fail to be satisfied with our final response, and you are not a company with a turnover in excess of £1,000,000, you may complain to the Financial Ombudsman Service.
7. Insurer Documentation
In accordance with the signed Terms of Business, we may keep certain documents such as your insurance policy documents or certificate while we are waiting for full payment of premiums or administration charges. For motor or household insurance, we may retain your original renewal notice where this is, or may be, required to provide proof of No Claims discount. In these circumstances, we will ensure that you receive full details of your insurance cover and will provide you with any documents which you are required to have by law.
8. Insurers' Solvency
We cannot provide a warranty or guarantee over the solvency of insurers with whom insurance is placed, even if this is assessed at the time of providing the advice.
9. Confidentiality of Information
Sturdy Edwards (Insurance Brokers) Limited is registered under the Data Protection Act and our Registration Number is Z8311502. All personal information about you will be treated as private and confidential. We may use information we hold about you to provide information to you about other products and services which we offer and we feel may be appropriate to you. Under the Data Protection Act you have a right to see personal information about you that we hold in our records. If you have any queries, please write to us.
You should be aware that insurers pass information to the Claims and Underwriting Exchange, run by Insurance Database Services Limited, and the Motor 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.
Motor insurance details are added to the Motor Insurance Database, run by the Motor Insurers' Information Centre, which has been formed to help identify uninsured drivers and may be searched by the police to help confirm who is insured to drive. In the event of an accident, the database may be used by insurers and the Motor Insurers Bureau to identify relevant policy information.
10. Account Payment
Payment is required prior to inception or as otherwise specifically agreed. Premiums will be held in our Trust Client Monies Accounts, in accordance with FCA rules, and will be held in that account until they are paid to insurers in accordance with their payment terms. These accounts may be interest bearing.
Where payment is via instalments direct to the insurer, or an external finance arrangement, you must return any instalment deposit payment and/or form to us within seven days of receipt of the documents. We will confirm any Agreement separate to this in writing to you. Where premiums are paid by instalments, we will be under no duty to monitor payment of instalments. If cover is withdrawn because an instalment has not been paid, Sturdy Edwards (Insurance Brokers) Limited do not accept any liability arising from this action.
At the renewal date of the policy, where payment is by instalments, you will be advised of any changes to the policy and premium payable, and the monthly payments will continue automatically, unless you advise either ourselves, the insurer, or your bank, to the contrary.
11. Our Remuneration
We will receive our remuneration by one or more of the under noted methods:
- A fee payment, which will be agreed with you before the liability occurs.
- A commission payment from the insurer.
- Fees for additional services (provision of instalment facility).
All instructions that we receive 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. It is our policy to disclose our remuneration levels in accordance with the FCA requirements.
12. Special Charges
In addition to the premium charged by insurers, we reserve the right to make the following charges to cover administration of your insurance:
- Provision of duplicate motor certificates or cover notes to tax a vehicle £20.00
Provision of duplicate No Claims Bonus proof £20.00
- Dishonoured cheques £20.00
(Each and every time returned unpaid from the client's bank)
- An initial placing fee of £40 for Commercial Risks under £250 premium.
We will let you know in advance of any charges and will not take any money from you without your agreement.
Other than business customers, there is a right to cancel the insurance contract within fourteen days without incurring a penalty.
Other than the above, upon cancellation of a contract of insurance, an insurance company may apply short-term charges that are not proportionate to the annual premium. We would ask clients to realize that it is the Underwriters and not Sturdy Edwards (Insurance Brokers) Limited that apply such charges upon cancellation. In certain circumstances there is no guarantee of any refund of premium.
It is essential that instructions received from the client are both clear and precise in order that they may be properly acted upon. For this reason, we are unable to accept unacknowledged emails or faxes as instructions to go on cover for a risk.
15. Governing Law Jurisdiction
The Courts of England shall have exclusive jurisdiction to settle any disputes (including claims for set-off and counterclaims), which may arise in connection with the validity, effect, interpretation or performance of the legal relationship established by this agreement or otherwise arising in accordance with this agreement. Unless you have confirmed in writing to us prior to the completion of any insurance contract, you will therefore consent to submit irrevocably to the jurisdiction of the English Courts.
Except as expressly provided in this Agreement, no person other than a part of this Agreement may enforce it by virtue of the Contracts (Rights of Third Parties) Act 1999 (the "Act"). Notwithstanding any benefits or rights conferred by this Agreement on any Third Party by virtue of the Act, the parties to this Agreement may agree to vary or rescind this Agreement without any Third Party's consent.
Subject to the provisions of relevant legislation and any professional obligations, either party may end this Agreement:
- in the event that the other party commits a material breach of any of the terms of the contract, provided that if such a breach is remedial, the defaulting party, after being given written notice, has not remedied the breach within seven days. in the event that either party compounds with, or negotiates for, any composition with its creditors, or allows any judgments against it to remain unsatisfied for seven days, or calls any meeting of its creditors, or has a receiver of all, or any of its assets appointed, or enters into any liquidation, or:
- by giving fourteen days notice in writing by registered post to the last known address.
The termination of our Agreement shall not operate to affect any provisions which either expressly or by implication survive such termination.
Your acceptance of these Terms of Business does not affect your normal legal rights.
This Terms of Business Agreement will apply to all transactions in the future, including renewals, and it will only be reissued if changes are made. The Terms of Business Agreement sets out the entire Agreement between the client and us in connection with the services provided.
Except as expressly provided in the Agreement, no person has been authorised to give any representations on behalf of Sturdy Edwards (Insurance Brokers) Limited, as regards the subject matter, or Terms of Business Agreement. Any representations which have been or may be given, shall not be relied upon unless confirmed in writing. In the event that any of the terms or provisions of the Letter of Engagement are or shall become invalid, illegal or unenforceable, the remainder shall survive unaffected.
The current Terms of Business issued shall override any confliction provisions in any previous copy of the Terms of Business.
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