Accepting our Terms of Business
By asking us to quote for, arrange or handle your insurance, you are providing your informed agreement to these Terms of Business. We draw your particular attention to the section headed ‘use of personal data’.
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.
The Regulator
The trading names of Wedding Insurance Group ; Abbeyfilds Insurance and The Enthusiasts Insurance Broker are trading style sof Abbeyfields Services West Midlands Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Our Financial Services Register number is 556042 and you can check our status and permissions at https://register.fca.org.uk/ or by contacting the FCA on 0800 111 6768.
Our permitted business is introducing, advising, arranging, dealing as agent, assisting in the administration and performance of general insurance contracts and credit broking.
Our Service
Our role is to advise you, 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 premium 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 need to make your own choice about how to proceed.
In some circumstances, we do not provide advice and we will therefore confirm in separate documentation whether or not any advice or recommendation has been made before finalizing your insurances. In these circumstances, we will not provide further advice or recommendations following the arrangement of insurance cover, unless you notify us of a material change of circumstance or formally request that we review your insurance arrangements. At renewal, unless we give you a quote for cover with an alternative insurer, we will not offer advice or make recommendations unless you request this during the renewal process.
We also act on behalf of insurers when collecting premiums under risk transfer (See “Money” section). If we use the services of another intermediary to place your insurance we will confirm this to you in good time before any arrangements are finalized.
Our Product Selection
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 can 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.
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 will not under any circumstance guarantee the solvency of any insurer.
Please note that if we offer products with Advantage Underwriting Limited, they are an MGA based in Jersey and are regulated by the Jersey Financial Services Commission. Unlike our other insurer partners they are not regulated by the FCA, however, they are Lloyd's cover holders. In the case of Zenith Marque Insurance Services Ltd, they continue to administer policies on behalf of Zenith Insurance PLC who are regulated by (Gibraltar Financial Services Commission) and QIC Europe Limited who are regulated by (Malta Financial Services Authority). We cannot guarantee the financial stability of any insurance company we trade with.
Complaints
Our aim is always to provide our customers with a high level of customer service; however, we are aware that, occasionally, it is possible that we may fail to meet your expectations. If for any reason we have not met your expectations, let us know as soon as possible, by calling our main office telephone 0121 550 2380, or write to Miss Laura Bird, at the above address or email info@weddinginsurancegroup.co.uk
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 (FOS). (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) For further information you can visit FOS website www.financial-ombudsman.org.uk
A full copy of our complaints procedure is available on request.
Financial Services Compensation Scheme (FSCS)
we are covered by the Financial Services Compensation Scheme for our insurance mediation activities. 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 in relation to insurance advising and arranging as follows: 90% of the claim, without any upper limit; however, claims under compulsory insurance, professional indemnity insurance and certain claims for injury, sickness or infirmity of the policyholder are protected at 100% without any upper limit. Further information about compensations scheme arrangements is available from the FSCS helpline on 0800 678 1100 or 020 7741 4100 and www.fscs.org.uk.
Payment for our services
We normally receive commission from insurers, product providers and where applicable finance providers with whom we place your business. In good time before the 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 as a result of placing your insurance business.
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. Full payment of premium and fees is due before cover commences, or as otherwise stated under terms of credit issued to you. Failure to pay the premium due will mean that your insurance policy might not commence or that it will be cancelled.
We also draw your attention to the sections headed ‘Cancellation of insurances’ and ‘Ending your relationship with us’
We also charge you for handling your insurances as follows:
New business: £45.00
Policy adjustment: £15.00 on top of any insurer charges
Cancellation: £30.00
Handling Money
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 and handling refunds due to clients. In these circumstances, such monies are deemed to be held by the insurer. You will be notified if Risk Transfer does not apply and such monies will then be held buy us in a Non-Statutory Trust account pending payment. The establishment of a Non-Statutory Trust account follows 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 request or may be inspected at out 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 our 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 us. For the purpose of some transactions client money may pass through other authorised intermediaries before being paid to the insurer.
Your Right to Cancel
lease contact us in writing if you wish to cancel a policy that we have arranged for you. In the event of cancellation, charges for our services will apply in accordance with the ‘Payment for our services’ section. 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.
You may cancel the policy within 14 days of the start date of the policy (the “cooling-off” period) subject to no claims. After this period, you or insurers may cancel the policy by giving relevant written notice as per the policy terms and conditions. Insurers will give a refund of premium for the remaining period subject to no claims.
Our charges are separate from insurers and if the policy is cancelled at any time these will not be refunded.
Ending your relationship with us
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, together with all fees charged by us for services provided.
Your Responsibilities
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 insurer swill 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 any 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. 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. It 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 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.
Use of personal data
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 relevant 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 may contact you in order to promote products or services which may be of interest to you. Contact may include SMS text, post, telephone or e-mail. If you do not want us to use your information in this way, please let us know. 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.
Under the DPA, you have a right to a copy of any personally identifiable information about you that we hold in our records, you can obtain details by writing to us. You will be charged a fee of £10.
Credit Checks
we, and premium finance companies may use public and personal data from variety of sources including credit reference agencies and other organisations. The information is used to help tailor a price, to ascertain the most appropriate payment options for you and to help prevent fraud. Any credit reference search will appear on your credit report whether or not your application proceeds. If you have any questions about this or any other matter, please do not hesitate to contact us.
Payment Options
We will provide you with full details of all the payment options available to you when we provide you with your insurance premium. If you choose to enter in a finance arrangement, your details will be passed to a third party (insurer or lender) to enable them to contact you. This finance arrangement may be subject to interest charges that we will confirm to you. Importantly, the arrangement you will enter into will be with the finance company not us. It is an entirely separate contract irrespective of the insurance contract. In the event of your failure to meet with the contractual obligations regarding payment the finance provider could approach the insurer to seek a termination of the insurance contract to recoup their outstanding finance arrears. You will be liable to pay their costs and charges if you do not keep up your repayments and cover is cancelled under your policy.
It is important that you read the finance agreement that is sent to you before you agree to enter into such an agreement.
We do not charge any fees to you for introducing you to a credit provider
If you are a consumer as defined under the Consumer Credit Act, you will have the benefit of a 14-day cooling off period.
Please Note: Your policy cover will cease if you fail to keep up payments on an instalment agreement or premium finance facility related to it.
Claims
To make a claim on your policy you should use your insurer claims line as detailed in your policy. Alternatively, contact us immediately on 0121 550 2380/0800 699 0659.
Law
This Terms of Business is subject to English Law.