Terms of Business
TERMS OF BUSINESS IMPORTANT NOTICE TO OUR CUSTOMERS AND CLIENTS EXPLAINING OUR TERMS OF BUSINESS AND INDEPENDENT INTERMEDIARY STATUS. FOR GENERAL INSURANCE BUSINESS.
TERMS OF BUSINESS AGREEMENT – ABOUT OUR SERVICES
- The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide if our services are right for you.
- Whose Products Do We Offer?
We can offer products from a wide range of Insurers allowing us to make a fair analysis of the market.
- Which Service Will We Provide You With?
We will advise and make a recommendation for you after we have assessed your needs.
- What Will You Have to Pay Us For Our Services?
We will charge you an arrangement fee for the initial set up and renewal of your policy. Further fees may be applicable when amending and/or cancelling any policy of insurance. Details are available on request and will always be advised to you in advance. We are remunerated by way of commission from Insurers.
You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.
You are entitled at any time, to request information about earnings that we, or any other intermediary we have used, receive as a result of placing your business. In addition to commission from insurers, we may also receive payments from insurers based on volumes of business or profitability of the account placed with them. These payments can vary from year to year. Such remuneration is only earned on the basis that it does not detract from our obligation to act in our customer’s best interests at all times.
- Who Regulates Us?
Bellegrove Ltd is authorised and regulated by the Financial Conduct Authority. Our FCA register number is 499943.
Our permitted business is to sell and administer general insurance.
You can check this information on the FCA’s register by visiting the FCA’s website www.fca.org.uk/register or by contacting the FCA on 0845 606 1234.
- What To Do If You Have a Complaint
If you wish to register a complaint please contact us:
In writing to Robert Creedon, Bellegrove Ltd.
Yorkshire House, 110-112 Broadway, Bexleyheath, Kent, DA6 7DQ
By Phone 020 8298 2100
If you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service.
- Are We Covered By The Financial Services Compensation Scheme (FSCS)?
We are covered by the 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. Non-compulsory insurance advising and arranging is covered for 90% of the claim, without any upper limit. For compulsory classes of insurance this increases to 100% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS
TERMS OF BUSINESS – CUSTOMER CHARTER
- Regulation. We, Bellegrove Ltd, Yorkshire House, 110-112 Broadway, Bexleyheath, Kent, DA6 7DQ are authorised and regulated by the Financial Conduct Authority (FCA) to sell general insurance products. Our FCA register number is 499943 and you can check this on the FCA’s register by visiting the FCA’s website www.fca.org.uk/register or by contacting the FCA on 0845 606 1234.
- Our Service to You. In arranging insurance for our customers we act as an independent intermediary and act on your behalf when 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. We will also help you with any claims that you may make. We offer a range of general insurance products and have access to a number of Insurers with whom we place your insurance. We will give you details of these Insurers when we discuss your individual requirements.
- Disclosure of Information. It is important that you understand that any information, statements or answers made by you to us, or your insurer, are your responsibility and must be correct. Commercial clients must provide complete and accurate information and failure to disclose any material information to your insurers could invalidate your insurance cover and mean that part or all of a claim may not be paid. It is important that all statements you make on proposal forms, claim forms and other documents are full and accurate. If a form is completed on your behalf, you should check that the answers shown to any of the questions are true and accurate before signing the document. Failure to provide requested information to your insurers could invalidate your insurance cover and mean that part or all of a claim may not be paid. You are advised to keep copies of documentation sent to or received from us for your own protection. Please do consult us if you are in doubt of any aspect. The disclosure of information not only applies at commencement and renewal of your policy, but also at any time during the period of insurance.
- Awareness of Policy Terms. When a Policy is issued, you are strongly advised to read it carefully, as it is that document, the schedule and any certificate of insurance that is the basis of the insurance contract you have purchased. If you are in doubt over any of the policy terms and conditions, please seek our advice promptly.
- Charges. We reserve the right to make charges, in addition to any insurance premiums, for the arranging, amending, renewing and cancelling any policy of insurance. Details of charges made will be declared in all correspondence with you. There will be a minimum charge for each mid-term adjustment, renewal and new business.
- Customer Protection Information. 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, please contact The Directors either verbally or in writing, who will take details of your concerns. We will acknowledge in writing, advising you of who is dealing with your concerns and attempt to address your concerns 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. If we cannot satisfy your complaint you may be entitled to refer it to the Financial Ombudsman Service.
- Financial Services Compensation Scheme (FSCS). We are covered by the 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. Full details and further information on the compensation scheme is available from the FSCS.
- Cooling Off Period. We will give you enough information and help so you can make an informed decision before you make a final commitment to buy your insurance policy. However you will have 14 days to change your mind and cancel the insurance contract from the date you receive the policy documentation.
NB. This only applies to consumer (not commercial) customers.
- Confidentiality. All personal information about you will be treated as private and confidential. We will also use and disclose the information we have about you in the normal course of arranging and administering your Insurance. We may use information we hold about you to provide information to you about other products and services, which we offer. Under the Data Protection Act 1999 you have the right to see personal information about you that we hold on our records. If you have any queries in this respect or if you do not wish to receive marketing information from us please write to us at Bellegrove Ltd Yorkshire House, 110-112 Broadway, Bexleyheath, Kent, DA6 7DQ.
- Insurers. Whilst we take every care to check the financial stability of any firm with which we place business, we cannot be held responsible if that firm subsequently ceases to trade.
- Quotations. Any Quotation given is operative for a period of 30 days, from the date of quotation unless otherwise shown.
- Proposal Forms. All answers on any proposal form and any other statements made to us by you are your responsibility. If we are requested to amend or enter any additional information on your proposal form by you we will send you a copy of the form indicating what we have done. You will have the opportunity of correcting any amendments or entry if it is not correct.
- Premium Payments. We normally accept payment by cheque, debit/credit card or bank transfer. In order to be able to offer you credit facilities we are registered under the Consumer Credit Act. Our licence number is 628427.
You may also be able to spread your payment through Insurers’ instalment schemes or a credit facility we have arranged with a Third Party Finance provider. We will give you full information about your payment options when we discuss your insurance in detail. Your application to pay your premium by instalments will result in a full credit check being carried out on you &/or your business. Your details will be passed to our third party finance provider, Close Brothers Premium Finance. This credit check will leave a footprint on your credit file. Should you fail this credit check your premium will be due immediately and in full.
When using a third party finance company, you will be charged an interest charge, of which, we may earn a commission.
We may keep certain documents such as your insurance policy or certificate while we are awaiting full payment of premiums. In these circumstances we will ensure that you receive full details of your insurance cover and will provide you with any documents that you are required to have by law.
We hold monies received from you in a designated insurance bank account in accordance with the requirements of FCA, and as such receive interest on the monies from time to time before such monies are remitted to insurers in accordance with our agreements with them. In arranging your insurances we may employ the services of other intermediaries who are regulated by the FCA and your premium may be passed to these intermediaries for payment to insurers.
We may earn interest on the money held in our Client Money account. Any interest earned will be retained by Bellegrove Ltd.
- Cancellation. In the event that your policy or policies are cancelled at your request or by insurers, Bellegrove Ltd reserve the right to deduct the annual commission payable or annual fee from any return premiums due back to you. You should refer to the policy wording provided by your insurer for details of their return premium policy in the event of cancellation.
- Claims. If you have occasion to claim on your policy you must notify us promptly on 0208 298 2100 or at firstname.lastname@example.org. We will either issue a claim form or inform you what information is required and pass all such details to your Insurers. If a Third Party is involved, you must not admit liability nor agree to any course of action until you receive confirmation of such action from your Insurers.
- 16. Credit Searches. We may share your information with and obtain information about you from credit reference agencies. If you require information about the credit reference agency we have received information from or the credit reference agencies we have approached please do not hesitate to contact us.
- Law. This Terms of Business is subject to English Law.