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 “The processing of your personal data” specifically the sub-section titled “Credit checks”.
- The section headed “Handling money”, which explains our terms for handling client money in a Non-Statutory Trust account.
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 Financial Conduct Authority
Rotherham Insurance Brokers is a trading style of RIB Group Limited which is authorised and regulated by the Financial Conduct Authority (FCA). Our Financial Services Register number is 305807. Our permitted business is advising, arranging, introducing, dealing as agent and assisting in the administration and performance of general insurance contracts and credit broking in relation to insurance instalment facilities. You may check this on the Financial Services Register by visiting the FCA website,www.fca.gov.uk/register/ or by contacting the FCA on 0800 111 6768.
Helping you decide
We act as an insurance intermediary, not an insurer. Our role is to advise you at all times and, after we have assessed your needs, to make a suitable recommendation. 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.
Our product range and the range of insurers used
We select personal and commercial insurances after making a fair and personal analysis of the market. For commercial clients, 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 may be able to offer finance for insurance premiums through the insurer and/or a premium finance provider. We will give you further information about this before we finalise your instalment arrangements. We will not in any circumstances act as an insurer nor guarantee or warrant the solvency of any insurer
Complaints and compensation
We aim to provide you with a high level of customer service at all times, but if you are not satisfied, please contact the Complaints Manager at the above address. 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). For further information you can visit the FOS website WWW.financial-ombudsman.org.uk. Access to the FOS is available for complainants coming within one of the following categories at the time we receive their complaint:
- Consumers (private individuals acting for purposes which are wholly or mainly outside that individual’s trade, business, craft or profession)
- Micro-enterprises (businesses employing fewer than 10 persons and with a turnover or annual balance sheet total not exceeding £2 million
- Other small businesses (with an annual turnover of below £6.5 million and less than 50 employees or with an annual balance sheet total of below £5 million
- Charities with an annual income of under £6.5 million
- Trustees of a trust with a net asset value of under £5 million
We are covered by the Financial Services Compensation Scheme (FSCS) for our insurance distribution activities. You may be entitled to compensation from the scheme if we cannot meet our obligations. 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
- 100% of the claim without any upper limit for compulsory classes of insurance (such as third party motor or employers liability); and “pure protection” contracts, professional indemnity insurance and general insurance claims arising from the death or incapacity of the policyholder owing to injury, sickness or infirmity, or where the insurance intermediary has failed to pay money to an insurer, pay away money it has received from an insurer or has failed to take steps to allow the insurer to effect the contract of insurance.
Further information about compensation scheme arrangements is available from the FSCS on 0800 678 1100 or 020 7741 4100 or www.fscs.org.uk.
Payment for our services
We normally receive commission from insurers, product providers and, where applicable, finance providers. Any commission we receive will be paid by the insurer or product provider from the insurance premium. Any commission we receive from the premium finance provider will be paid from the finance repayment. Any fees we charge are set out below.
- Private motor new policies and renewals £20.00
- Household new policies and renewals £20.00
- Cancellation (all policies) £15.00
- Commercial policies £50.00
In circumstances where our commission earnings are low we reserve the right to charge a fee which will be agreed with you prior to inception or renewal of your policy.
If you are a consumer and are cancelling a policy during a 14 day statutory cooling off period you will not be charged a cancellation fee but Insurers may charge for the time on cover & we will retain the £20.00 set up fee.
In the event of refund of premium due to the cancellation or amendment we will also deduct a percentage of the returned premium to replace commission reclaimed by the insurer as follows:
- Private motor 10%
- Household 20%
- Commercial 15%
Legal expenses policies are non-refundable (after the 14 day cooling off period). 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. 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.
Full payment of premium and fees is required before cover commences unless otherwise agreed. We accept payment by cash, cheque, credit card, debit card or BACS. We can also offer arrangements for instalment facilities, terms for which will be confirmed upon request. We also draw your attention to the sections headed “Cancellation of Insurances” and “Ending your relationship with us”.
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(s) with which your insurance is arranged. If Risk Transfer does not apply such monies will then be held by us in a NonStatutory Trust 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. 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 our 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 your 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. Following receipt of your premium we may withdraw our commission before onward transmission to the Insurer or authorised intermediary
Cancellation of Insurances
You should make any request for the cancellation of a policy either by letter, email or phone and where requested the relevant certificate of insurance must be returned to us. In the event of cancellation, charges for our services will apply in accordance with the “Payment for our services” section above. 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.
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 or by email 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 where there is a valid reason for doing so. We will advise you of the reason for cancellation. Valid reasons may include, but are not limited to non-payment of premium or fees, where you give instructions to another party to handle your insurance(s), failure to provide requested documentation or information, deliberate misrepresentation or non-disclosure, attempted fraud, the use of threatening, abusive behaviour or language, intimidating or bullying of our staff or suppliers. Unless otherwise agreed in writing, if our relationship ends, then 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.
If you are a consumer you are responsible for answering any questions in relation to any proposal for insurance clearly, honestly, and to the best of your knowledge, providing complete and accurate information which insurers will require. This also applies to your responses in relation to any assumptions which 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 and if you request a mid term amendment to your policy. If you fail to disclose information, or misrepresent any fact which may influence the insurers decision to accept the risk or the terms offered, this could invalidate the policy and mean that 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. This means that 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 and 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 particular concerns which led you to seek insurance cover for the risk
- 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 and complexity of your business and allow yourself sufficient time before renewal date to consider and 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 and 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 the 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. You must check all details on any proposal form or statement of facts and pay particular attention to any declaration you may be asked to sign. It is important that you read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply. Particular attention must be paid to any warranties and conditions as failure to comply with them could invalidate your policy or mean that claims may not be paid. You must inform us immediately of any changes in circumstances which may affect the services provided by us or the cover provided by your policy. Any email request for insurance to be put in place or adjusted will always be acknowledged by response from the recipient or another on their behalf. If you do not receive a response then we cannot guarantee that your request for cover has been actioned. If you are unsure about any matter, please contact us for guidance.
The processing of your personal data
In your dealings with us you may provide us with information that may include data that is known as personal data. Where we process personal data, we comply with statutory data processing requirements as set out by the Data Protection Act 2018. The personal data we will collect will include information relating to your name, address, date of birth, contact details and health or criminal offences. We will process your personal data to allow us to provide you with our services as your insurance broker in quoting for, arranging and administering your insurances and in arranging insurance premium finance where applicable. Your personal data will also be used to manage future communications between ourselves. Where you have agreed, or in circumstances where to do so will be in our mutual interests, your personal data will be used to provide you with further information about our wider products and services. You can opt out from receiving such communications by e-mailing email@example.com. In processing personal data for insurance purposes about health or criminal offences, we will only do so to enable us to provide our service to you and on the basis of it being in the public interest. We will only use your data for the purpose for which it was collected. We will only grant access to or share your data within our firm or other firms associated with us, with other authorised third parties and product and service providers such as insurers and premium finance providers where we are entitled to do so by law under lawful data processing. The Data Protection Act 2018 provides you with access rights that allow you to gain an understanding on the data being processed, who we share it with, for what purpose, why we need to retain it and retention periods, to object to the processing and to place restrictions on the processing, to request copies of your data and to request the deletion of your data. If you require further information on how we process your data or you wish to exercise your rights, please contact us by emailing firstname.lastname@example.org or by writing to the above address or by telephoning 01709 875548. How we process your personal data is detailed further within our Privacy Notice https://www.rib-group.co.uk/privacy.php
Some insurers and premium finance compnies may use public and personal data from a variety of sources, including a credit reference agency and other organisations. Notice of such an enquiry may appear on your credit report whether or not your application for insurance proceeds.
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. It should be noted that 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.
This Terms of Business is constituted under and shall be governed by English Law.
RIB Group Limited, registered in England under Company No. 4098199. Registered office as above.