Terms and Conditions
These terms of business dated 12th January 2018 supersede all previous terms you may have received from us. Please keep them with you policy(ies), for future reference.
Proceeding with a quotation or a renewal implies your acceptance of our Terms of Business. Acceptance of them gives us the authority to instruct insurance providers on your behalf based on our understanding of your instructions.
- "We/us" means Internet Insurance Services UK Ltd. Alton House, 27-31 Grange Road, Darlington, DL1 5NA. Tel: 01325 346 328.
- "Financial Conduct Authority" (FCA). 25 The North Colonade, Canary Wharf, London E14 5HS. Tel: 0800 111 6768
Accepting our Terms of Business
By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business. We draw your particular attention to:
- The section headed 'Use of personal data', and specifically the paragraph explaining how 'sensitive personal data' will be used; and
- The section headed 'Handling money', which explains our terms for handling client money in a Non-Statutory Trust account.
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 Financial Conduct Authority
Internet Insurance Services (UK) Ltd trading as UKINSURANCENET is authorised and regulated by the Financial Conduct Authority (FCA). Our FCA Register number is 300859.
Our permitted business is advising, arranging, dealing as agent and assisting in the administration and performance of general insurance contracts.
You may check this on the FSA's register by visiting the FSA website, http://www.fsa.gov.uk/Pages/register/ or by contacting the FCA on 0800 111 6768.
Our role is to advise you and, after we have assessed your needs, to make a suitable recommendation. Occasionally we act as the agent of another intermediary.
In situations where we are able to arrange insurance for you but do not offer advice, we shall confirm the position to you in writing.
We select personal and commercial insurances from a wide range of insurers, but for certain products, we may only deal with a single insurer or select from a limited number of insurers. We will give you further information about this before we finalise your insurance arrangements.
For certain types of insurance policies we are authorised to issue policy documentation on behalf of insurers.
We will not in any circumstances act as an insurer nor guarantee or warrant the solvency of any insurer.
Some of the quotations and the supporting information we provide directly from the Internet sites are made on a direct offer, non-advised basis. This does not therefore constitute personalised advice. No recommendation is made as to whether the specified products are suitable and match your personal circumstances.
Our quotations are based on the information provided on a given date, valid for acceptance at that time and for only the exact circumstances and criteria given by you. You should be aware that occasionally insurers change premium rates, terms and/or conditions without notice, which can invalidate a quotation. Insurers always reserve the right to decline any proposal or vary terms of acceptance. We must also reserve this right.
Complaints and Compensation
We aim to provide a high level of customer service at all time, but if you are not satisfied, please contact us:
|In writing:||Write to Operations Director at the address shown above|
All complaints will be acknowledged promptly and our response will include a copy of how we will handle your complaint. A copy of these procedures are available on request.
If you are not satisfied with our final response, you may refer the matter to the Financial Ombudsman Service (FOS). The Financial Ombudsman Service is an independent service in the UK for settling disputes between consumers and businesses providing financial services.
The FOS’s contact details are as follows:
|In writing:||Financial Ombudsman Service, Exchange Tower, London, E14 9SR|
|Telephone:||+44 (0)300 1239123|
We are also 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:
Further information about compensation scheme arrangements is available from the FSCS on 020 7892 7300 or www.fscs.org.uk.
Payment for our Services
We normally receive commission from insurers or product providers. Occasionally fees may be charged in addition to or instead of commission.
On request, we will be pleased to provide information about any commission received by us in the handling of your insurances.
Full information about payment options will be provided to you when arranging your insurance.
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.
In addition to the premiums charged by insurers, we normally make the following charges to cover the administration of your property insurance:
|New Policy Fee||Fee varies, so please check your quotation document.|
|Renewal Policy Fee||£27.50|
|Late Payment||Interest is charged at 3% over Barclays Bank base rate|
|Mid Term Adjustments
(Excluding updating contact details)
|Up to £27.50|
|Policy Cancellation||£27.50 plus refund of premium as detailed in the table below.|
|Documents/duplicate documents via email||No Charge|
|Documents Issued by Post||£6.00|
|Duplicate/Lost Documents by Post||£10.00|
|Unpaid Direct Debit or Cheque
(this includes a default handling charge with our premium finance facilitator)
Where commission levels offered by insurers or underwriting agents are insufficient to allow the company to offer its services profitably we reserve the right to apply charges in respect of administration and brokerage costs. The specific charge and purpose of any additional charges will always be advised to you in advance in line with the FCA rules.
We normally accept payment by guaranteed cheque, debit or credit card. You may be able to spread your payments, subject to an additional charge, either through an insurer's instalment scheme, or a credit scheme that we have arranged with a specific premium finance provider.
Full payment of premium and fees is due before cover commences, or as otherwise stated under terms of credit, or in the debit note, invoice or statement issued to you.
We also draw your attention to the sections headed 'Cancellation of insurances' and 'Ending your relationship with us'.
Cancellation of Insurances
You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance should be returned to us or to the insurer concerned. In the event of cancellation, charges for our services will apply in accordance with the Tariff of Fees (above). In addition the terms of your policy may in some instances allow insurers to retain the premium in full or to charge short-period premiums in the event of cancellation. Please refer to your individual policy terms and conditions for further information.
Policy cancellation rights and terms and conditions vary between insurers. Your insurance contract may include a cancellation clause. If you are classed as a consumer type customer, this is mandatory. Cancellation refunds are not normally given after a claim and are otherwise calculated on a short period scale weighted in favour of the insurers. Some insurers maintain that their costs are similar whether a policy has run for one day or a year. Please see scale below.
|Month 1||Minimum of 50% refunded|
|Month 2||Minimum of 40% refunded|
|Month 3||Minimum of 30% refunded|
|Month 4||Minimum of 20% refunded|
|Month 5||Minimum of 10% refunded|
|Month 6 - 12||Minimum of 0% refunded|
Where possible, refunds will be greater than shown in this scale; however, we reserve the right to use the above tariff.
No refunds will be given until funds are returned to us from the insurer.
In the event of a policy being amended or cancelled we will deduct our commission from all premiums rebated by the insurers in addition to the above administration charges.
In view of the costs involved in making changes to your policy, we will not issue individual refunds of less than £20.00.
In addition to the above scale, charges for credit card use and instalment fees are non refundable.
Commercial customers may cancel their insurance in accordance with the relevant policy terms and conditions. Any return premium will be at the discretion of the insurer.
We act independently and not on behalf of a single company when it comes to the provision of premium finance, which is when payment of your premium is to be made over a period of months. The companies we introduce you to may obtain credit references. You will have the right to withdraw from the credit agreement within 14 days from the date of the credit agreement. You also have the option to cancel your credit agreements at any time and the full balance of premium will become immediately payable. In the event of non-payment of an instalment, you will receive written confirmation of the outstanding balance, together with the date before which the outstanding premium must be paid. Failure to pay the balance of premium prior to the deadline will result in the immediate termination of the policy. Any return premium following the cancellation of the policy will be used to offset the unpaid balance. Under some circumstances, the refund will not meet the amount of the debit balance and you will be required to pay the difference.
Handling Client Money and/or Insurer Money
Our financial arrangements with the insurance companies we use are on a “risk transfer” basis, which 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(s) with which your insurance is arranged. These monies will be held by in a segregated account pending payment. The establishment of the Non-Statutory Trust account follows the rules which the FCA introduced to protect money held by authorised intermediaries.
These monies will be remitted to insurers in accordance with our agreement with them. This improves your protection against financial loss in the event of our insolvency. The terms of the trust dictate that insurers will have a prior claim on the money in the account according to their respective interests.
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 your informed consent to our holding your money in a Non-Statutory Trust account.
Earning interest on Customer Premiums.
We hold premiums that you pay us in our Insurer money bank account. Under Financial Conduct Authority regulations we have to inform you that we may earn interest from money held in this account. Interest earned will not be held for the benefit of customers.
Customer money passed to another organisation.
In accordance with Financial Conduct Authority Regulations we have to inform you that in managing or arranging your insurance requirements, we may transfer money that you have paid us in payment of an insurance premium to another insurance intermediary. This has no effect on your insurance arrangements with us as your broker or your insurer.
We endeavour to place business with insurers with adequate levels of financial solvency but cannot guarantee the solvency of an insurer.
We do not monitor insurer solvency on an ongoing basis, and shall not be liable for losses suffered by you in the event of the insolvency of an insurer.
We conform to the FSA Rules in respect of Professional Indemnity Insurance and maintain cover in accordance with those rules.
Limitation/Exclusion of Liability ___ Your Attention is specifically drawn to this clause which limits or excludes our liability to you.
Our liability for losses suffered by you as a direct consequence of any negligent performance of our services shall be limited in all circumstances to £10,000,000 per claim. In respect of any other claim arising out of our performance or non-performance of the services hereunder our liability shall be limited to the amount of commission and fees which we have received for arranging your insurance cover during the 12 months prior to such claim arising. We shall not be liable to you for any economic loss, loss of profit or loss of business, whether directly or indirectly occurring and which arises out of or in connection with these Terms. Nothing in this paragraph shall exclude or limit our liability for death or personal injury caused by our negligence, or for loss caused by our fraud, wilful misrepresentation or breach of regulatory obligations owed to you. You are welcome to contact us to discuss increasing the limitations of our liability and/or varying the exclusions set out above. Please note however that an additional charge and other terms may apply should we agree to amend this clause.
Changes to Your Cover
We will normally try to deal with requests to increase or amend your insurance cover on the day we receive your instructions, or within three working days if a weekend or public holiday. Sometimes changes cannot be processed without obtaining additional information. If additional information is required we will contact you as quickly as possible.
We will confirm changes to your policy, once agreed with Underwriters, in writing. We will also advise you of any extra premium, fees, charges or additional conditions, terms or warranties required.
Please note that instructions sent by post, electronic mail or fax, are not deemed to be received until they reach the relevant personnel in our office. We cannot accept responsibility for failures in the postal, electronic or telecommunications systems.
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 cover you have purchased. If you are in any doubt over the terms and conditions, please seek our advice promptly.
Renewal of Policy Cover
In all cases we will assume that you wish to receive a renewal notice from us in advance of the expiry of your insurance (other than one-off contracts). If you do not wish to receive a renewal offer, please contact us. If an insurer does not offer renewal terms for whatever reason, we will try to give you reasonable notice and endeavour to obtain quotations with other underwriters.
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 the relationship and we will be entitled to retain any commission received for conducting these transactions, together with all fees charged by us for services provided.
You are responsible for providing complete, honest and accurate information which insurers require in connection with any proposal for insurance cover. This is particularly important before taking out a policy and at renewal but also applies throughout the life of the policy. Please take reasonable care to answer any questions asked truthfully and to the best of your knowledge. If you don't answer these questions honestly, your policy may be cancelled, withdrawn, or a claim rejected or not fully paid. Likewise if any changes in circumstances occur during the period of insurance, for example, change in tenant type, change in occupancy status, works to be carried out to your property, you must contact us immediately.
It is important that you read all insurance documents issued to you and ensure that you are fully aware of the cover being provided. This includes any limits, endorsements' and or exclusions including all policy terms and conditions that apply. Particular attention should be paid to any warranties and conditions as failure to comply with them could invalidate your policy.
You must inform us immediately of any changes in circumstances that may affect the services provided by us or the cover provided by your policy.
If you are unsure about any matter, please contact us for guidance.
Cooling Off Period
A customer who is classified as a consumer, as opposed to a commercial customer, will receive a full refund (excluding any set up charges) should cancellation occur within the cooling off period, which is 14 days from the date you receive the policy booklet, providing no claims have been made.
If you decide to cancel the policy or we enforce cancellation, then you will be liable to pay all monies due to us as earnings under the policy, which is in addition to any charge the insurer makes for the time you have been on 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 it will be necessary for us to pass such information to insurers and other 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. 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.
Subject to certain exceptions, you will be entitled to have access to your personal and sensitive personal data for which you will be charged a fee of £10. If at any time you wish us, or any company associated with us, to cease processing any of the personal data or sensitive personal data we hold, or to cease contacting you about products and services, please write to "The Customer Service Manager" at the address shown above.
Insurers pass information to the Claims and Underwriting Exchange run by Insurance Database Services Ltd. and the 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. In the event of a claim the database may be used by Insurers to identify relevant policy information.
We may use your personal information and information about the use of our products and services for marketing and to carry out research and analysis to help us meet your needs.
We may contact you if you abandon or fail to complete an online quotation to see if we can offer you any further assistance with this.
As part of our service to you, we may call you about any quotation you receive from us. We may also send you information by post, email, SMS and/or telephone in accordance with your preferences.
If you do not want us to use your personal information for marketing or research and analysis, please telephone us on 01325 346 328.
Monitoring of phone calls/emails
Conflict of Interests
Occasions can arise where we or one of our clients or product providers may have a potential conflict of interest with business being transacted for you. If this happens and we become aware that a potential conflict exists, we will write to you and obtain your consent before we carry out your instructions, and we will detail the steps we will take to ensure fair treatment.
Claims Handling Arrangements
You should take note of the required procedures in the event of a claim, which will be explained in the policy documentation. Generally, insurers require immediate notification of a claim or circumstances, which might lead to a claim. We will employ due care and skill if we act on your behalf in respect of a claim. For an emergency then you may find a helpline number for the insurance company in your policy documentation.
Buildings Sums Insured
UKinsurancenet are unable to offer direct advice on rebuilding costs (reinstatement values) of properties, and we would always recommend that the services of a building surveyor, architect or similar are used to confirm property rebuilding costs. A current Mortgage Valuation Report carried out on behalf of a mortgage lender may also show the correct property rebuilding cost. UKinsurancenet may recommend that their clients consult the Royal Institute of Chartered Surveyor's (RICS) website (www.bcis.co.uk) to help calculate the property rebuilding cost. Should we receive a request from any of our clients, policyholders, or potential policyholders, to visit the RICS website on their behalf for the purpose of calculating the rebuilding cost of a property, then UKinsurancenet will not be held responsible for any errors or inaccuracies resulting from this service. UKinsurancenet recommend that any rebuilding cost obtained by them on behalf of their clients, policyholders, or potential policyholders should be independently checked on the RICS website by the client, policyholder, or potential policyholder.
These Terms and Conditions are governed by English Law and we both agree to submit to the non-exclusive jurisdiction of the English courts.
NOTE. Your acceptance of these Terms of Business does not affect your normal legal rights.
Insurance Terms Explained
1 Average Clause
Please be aware that your policy may be subject to “Average”, whereby claims will be proportionally reduced if the sum insured is less than the full value of the risk or where underinsurance is of a significant amount a claim could be rejected entirely. Bearing in mind the attitude of insurance companies towards underinsurance, we would urge you to check the current figures to ensure that they remain adequate. The principle of Average means that if you are insured for less than the full value for that item at the time of loss, then ANY claim payment will be reduced in the proportion that the sum insured bears to the full value of the risk.
If the underinsurance is significant the insurer could reject a claim entirely. As an example, if a house is insured for £300,000 but the rebuild value of the house at the time of loss is £400,000 a claim for loss of, say £100,000 would result in a payment of £75,000 as follows:
|£100,000||X £300,000 = £75,000|
It is therefore important to ensure that your sums insured for all items represent the full value of the risk at the commencement of the policy period and the protection is in place to allow for inflation during the period of insurance.
For further information about “Average” please contact us.