Retail Terms of Business Agreement

Henderson Insurance Brokers Limited (HIBL) Trueman House, Capitol Park, Tingley, Leeds, LS27 0TS is authorised and regulated by the Financial Services Authority. Our FSA Register number is 309735, this can be checked on the FSA Register by visiting the FSA website www.fsa.gov.uk/register/ or by contacting the FSA on 0845 6061234.

In the absence of an agreement to the contrary the following sets out the terms of our relationship with you, our Client, for the provision of non-investment insurance contracts. HIBL act as agents of the client unless stated otherwise.

Our Services

Our service includes advising and providing recommendations to you on your insurance needs, arranging your insurance cover with Insurers to meet your needs once they have been assessed, and helping you with any ongoing changes you need to make. HIBL are Independent Insurance Intermediaries and we are able to offer advice and quotations on all general insurance contracts. We offer products from a range of Insurers and are not tied to any one particular Insurer. HIBL may also issue policies and handle claims on behalf of some insurers. Legal Expenses Policies and Breakdown cover are provided through one insurer only and so no recommendations on the suitability of cover will be made.

Treating Customers Fairly

Hendersons has a documented policy of ËTreating Customers FairlyÓ that requires us to ensure that:

1.Customers should clearly understand the nature of the services we provide, including our terms, conditions and charges.
2.Customers must clearly understand the risks of the covers placed.
3.We must communicate in an open, transparent and easily understandable manner and have a clear understanding of Customers demands and needs.
4.We must be clear about the suitability of our recommendations to our customers.
5.We will not promise to provide services we are not able or equipped to deliver.

Our complaint procedures must be clear, unambiguous and impartial.

Duty of Disclosure

It is important that you understand that any information, statements or answers made by you to your insurer or us are your responsibility and must be correct. Your attention is particularly drawn to the importance of the declaration and signature on any Insurers' Proposal Forms as any failure to disclose facts material to the insurance or any inaccuracies in your answers may invalidate your insurance cover in part or in whole. Facts material to the insurance are matters or information which may influence your Insurer as to the acceptability or otherwise of your Proposal or Renewal and must be disclosed at the earliest opportunity and certainly at each Renewal. You are advised to keep copies of documentation sent to or received from us for your own protection.

Quote Validity

Insurance rates used by us are updated on a monthly basis and so all quotations unless otherwise specified are valid for the calendar month that they were issued in.

Documentation

All documentation will be sent to you as soon as we have received it and checked to ensure it appears to meet your requirements subject to us having received all monies or documents required. However if you are paying on monthly instalments your policy documents will be held until we have received confirmation that the insurer is receiving payments. In this circumstance we will ensure that you receive full details of your insurance cover and will provide you with any documentation that you need by law.

Awareness of Policy Terms

When a policy is issued you are strongly advised to read it carefully, as it is that document, including the schedule/certificate that details the policy terms and conditions of the insurance contract you have purchased. If you are in any doubt over any of the policy terms or conditions, please ask a member of staff for further clarification.

Our Remuneration

The method of remuneration for the service we provide is either in the form of a percentage of the insurance contract premium (known as brokerage or commission) or an agreed fee or a combination of both. We reserve the right to make charges in addition to any insurance premiums, for the arranging, amending, and renewing of any policy of insurance. Any such charges will always be advised to you before you purchase the insurance or before they are incurred.

HIBL may at one time or another receive additional benefits / payments from certain insurers dependant upon such factors as low claims ratio. However HIBL conduct business on a fair analysis basis of the insurance market and therefore are not tied only to those insurers. For certain specific insurances HIBL offer products from a limited number of insurers, details are available on request. When recommending cover HIBL will take into account certain factors about the proposed insurer including but not limited to Cover requirements, Service Standards, Performance, Financial stability and Standard and Poors rating.

We hold client money subject to a non-statutory trust. This means that we are entitled to and may use client money held on behalf of one client to pay another client's premium before the premium is received from that other client, and to pay claims and premium refunds to another client before we receive payment from the insurer. However, we are not entitled to use client money to receive commission until we have received the relevant premium from the client.

Brokerage and fees are earned on a minimum and deposit basis for the policy period. This entitles HIBL to retain all brokerage or fees in relation to policies placed through us even if the policy is cancelled during the period of cover.

Interest received by the company within its bank account will be retained by itself unless the client notifies otherwise.

During the normal course of trading small under or overpayments can sometimes occur, due to the costs incurred by both parties in rectifying these. It is deemed that all payments under £1.00 will be donated to charity.

Claims

In the event of a claim notify us immediately (with as many details as possible) and we will advise you of what to do next, we will issue you a claim form if necessary and pass your details on to the insurance company.

You should not admit liability or agree a course of action other than emergency measures carried out to minimise the loss until you have agreement from the Insurers.

If you are unsure whether a matter constitutes a claim or not, contact us and we will be happy to advise you.

For specific technical claims and complex claims in excess of £50,000 Hendersons reserve the right to charge an additional claims fee. This fee is dependant upon the circumstances and complexity of individual claims, the fee will be charged at an agreed hourly rate of £75 plus expenses. The rate covers the cost of additional group claims expertise. Any costs incurred on such claims will be discussed and agreed with you, the client before they become due.

Payment

We normally accept payment by cash, cheque or credit/debit card. All payments by credit card will be subject to a handling fee. This cost is incurred through (Streamline) HIBL do not benefit from this. You may also be able to spread your payments through an Insurers instalment scheme or a credit scheme we arrange through Premium Credit finance providers. We will give you full details of your payment options when we discuss your insurance in detail.

Complaints

HIBL are committed to ensuring that you are treated in a well-informed manner and that we provide you with a high level of customer service at all times. However should you have any cause for complaint you should in the first instance contact the Branch Manager/ Branch Director orally or in writing. If your complaint cannot be handled immediately we will respond within five working days and inform you who is handling the complaint and also to advise you when you may expect an answer from us. We will provide a written response within twenty business days from the original receipt of the complaint should it still be outstanding, if it cannot be resolved within this timescale we will write with an explanation as to the progress and the likely timescale involved.

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

A copy of our full complaints procedure is available on request.

Cancellation

Most insurance policies carry a charge if they are cancelled within the first year. Please check your policy documentation for further information or ask a member of staff for clarification. When a claim is made within the current insurance year and subsequently the policy is cancelled, it is common for many insurers not to allow any return premium.

HIBL may lapse or cancel your policy midterm, following suitable reminders if any monies, documentation or other relevant information remain outstanding unless HIBL or the insurer has agreed specific terms.

Brokerage and fees are earned on a minimum and deposit basis for the policy period. This entitles HIBL to retain all brokerage or fees in relation to policies placed through us even if the policy is cancelled during the period of cover.

Financial Services Compensation Scheme

HIBL 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. Insurance advising and arranging is covered for the first £2000 and 90% of the remainder of the claim without upper limit. Further information about the compensation scheme is available from the FSCS.

Download the Retail Terms of Business Agreement