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Introduction This terms of business comes into force on the date you receive it from us and will remain in force until you are provided with revised terms. Cheam Insurance Brokers Limited is an insurance intermediary acting on your behalf in arranging your general insurance. The services we provide include the initial arrangement of cover, mid-term alterations and renewal processing. After we have assessed your needs we will make a recommendation regarding the type of cover you seek and advise you on the costs involved before committing you to any product we offer you. We offer products from a range of insurers for Motor Insurance & Household Insurance. For Commercial Products we deal with a panel of Insurers. The list of Insurers we offer insurance from is available on request. We only offer products from UK Underwriting Limited for legal protection insurance. Our Status Cheam Insurance Brokers Limited of 4a Ewell Road, Cheam, Surrey, SM3 8BU is authorised and regulated by the Financial Services Authority. Our FSA Register number is 313905. Our permitted business is advising and arranging general insurance contracts and you can check this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk/register/ or by contacting the FSA on 0845 606 1234. The FSA is the independent watchdog that regulates financial services. You should use the following information to decide if our services are right for you. Remuneration/Charges In the normal course of our business we receive commission paid to us by insurance companies with whom we place business. We will also make the following charges to cover our administrative costs for the following specified activities · Discretionary Policy adjustment charge: £15.00 · Mid-Term Cancellations:We will retain our commission · Payment by Credit Card: A charge of 2% of the premium being collected (e.g. A £500 premium will attract a charge of £10.00). · Where we offer premium instalments: A variable charge will be made. The specific charge and purpose of any additional charges will always be advised to you in advance. Client Money Client money is money of any currency that we receive and hold in the course of carrying on insurance mediation on behalf of our clients (including you) or which we treat as client money in accordance with the client money rules. Such money will be held in a Statutory Trust Account. Client money will only be held as agent on behalf of an insurer or underwriter in accordance with a written agency agreement. You will be notified if this will affect your policy. We may transfer client money to another person, such as another broker or settlement agent, for the purpose of effecting a transaction on your behalf through that person. Interest on Client Money Any interest earned on client money held by us for consumers will be retained by us for our own use, rather than paid to you Your Duty to Give Information Your attention is particularly drawn to the importance of the Declaration and Signature on the Insurer’s proposal forms. Any failure to disclose facts material to the insurance or any inaccuracies in your answers could invalidate your cover , which could result in part or all of a claim not being paid. You have a continuing obligation to disclose facts material to the insurance throughout the period of cover and at renewal of the policy. If you are in any doubt as to whether to advise the Insurer of a change in circumstances that may be relevant to the cover then it is preferable to do so. Policy Terms & Conditions and Claims All insurance policies contain conditions, exclusions and some warranties which if they are breached may well void the insurance completely regardless of whether any loss is caused by the breach. As such we cannot stress too highly the importance of being familiar with the obligations imposed upon you by the terms of the policy and the limitations of its scope. Similarly, if you should become aware of any claim, or circumstances which could lead to a claim being made, you must notify us immediately and in writing if required. Failure to do so could prejudice your position. Please do consult us if you are in doubt on any aspect of your insurance arrangements. Policy documentation We will issue policy documentation in a timely manner. Your policy documentation will confirm the basis of the cover and give details of the insurers. Prior to the conclusion of the contract you will be given a statement of demands and needs which sets out and confirms the reason for us making the recommendation to you. We will take reasonable steps to ensure that consumers are provided in writing no less than 21 days before the expiry of the policy with renewal terms, or advised if renewal is not being offered. For commercial customers this period will also be 21 days. You will be given an explanation of any changes and if you are a consumer, of the right to request a new policy document. We may retain certain documents, such as your insurance policy and/or certificates of insurance until we receive full payment of premium and/or administration charges. In these circumstances we will ensure that you receive full details of your cover and any documents that you require by law. Payment of Premiums We normally accept payment by cheque or major credit / debit card. You may be able to spread your payments. We will provide full information about your payment options when we discuss your insurance in detail. Complaints We take all complaints seriously. If you wish to register a complaint then please contact a Director. In writing to Cheam Insurance Brokers Limited, 4a Ewell Road, Cheam, Surrey, SM3 8BU. By telephone on 020 8652 7733. We will acknowledge your complaint in writing and tell you how we will handle it. If we are unable to resolve your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. They can be contacted at Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR. Telephone: 0845 080 1800. A copy of our complaints procedure is available upon request. Cancellation Rights A consumer has the right to cancel a general insurance contract within 14 days of receiving the contractual terms and conditions. In the event of cancellation, Insurers may return a pro rata premium based on the time on risk. The policy may also be cancelled at any time during its currency by giving seven days notice in writing and returning the Certificate of Insurance to us at our office address. In the absence of a Certificate of Insurance , a Lost Certificate Declaration must be completed and the Insurance will remain in force until these have been received. Any return of premium will be calculated in accordance with your Insurer’s cancellation rates and will be dependent upon any claims which have been made or any incidents which have occurred that could give rise to a claim.. Compensation 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. Insurance advising and arranging is covered for 90% of the claim with no upper limit. For Compulsory classes of insurance, insurance advisory and arranging is covered 100% of the claim, with no upper limit. Further information about compensation scheme arrangements is available from the FSCS. Confidentiality All personal information about you will be treated as private and confidential. We only use and disclose information we have about you in the normal course of arranging and administering your insurance and to provide you with information about other products and services we feel may be appropriate to you. We will not disclose information to any other parties without your consent. Under the Data Protection Act 1998 you have a right to see personal information about you which we hold in our records. If you have any queries or do not wish to receive marketing information from us please write to the address stated in this leaflet. Termination You or we may terminate our authority to act on your behalf at any time without notice period or penalty. Notice of termination must be given in writing and will be without prejudice to the completion of any transactions already initiated. Any business currently in progress will be completed unless we receive your instructions to the contrary. Any fees outstanding at the date of termination will be due within four weeks of the termination date. Security. We do not guarantee the solvency of any Insurer we place business with. A liability for the premium, whether in full or pro rata, may arise under policies where a participating insurer becomes insolvent. In the event that an insurer becomes insolvent or delays making a claim settlement we do not accept liability for any unpaid amounts. Governing Law This terms of business shall be governed by and construed in accordance with the Laws of England and Wales and the parties submit to the exclusive jurisdiction of the courts of England and Wales. Cheam
Insurance Brokers Limited, Tel: 020 8652 7733. Fax: 020 8652 7744 Registered in
England No 05052214. Data Protection Act Registration No. Z8828596. Registered Office: Belmont Place, Belmont Road, Maidenhead Berkshire, SL6 6TB
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