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83-91 Woodside Way |
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83-91 Woodside Way |
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Terms of Business & Information About Our Service
Abbey Spring Hill are authorised and regulated by the Financial
Services Authority (FSA) the independent watchdog that regulates
financial services.
Our registration number is 307006.
This can be checked on the FSA website
www.fsa.gov.uk/register
or by contacting the FSA on 0845 606 1234. Abbey Spring Hill will
This document contains
important information about how Abbey Spring Hill conducts general
insurance business. The following areas are covered in detail
Details of the services we provide are explained in the Key Facts
Document provided in tandem with this document.
There will be no contract
between us for the services provided however you have a range of
statutory rights which are explained in this and other documentation
which will be provided.
With regard to products which we have arranged for you these will
not be kept under review but we will advise you upon you request.
However, we may contact you in the future by means of an
unsolicited promotion should we wish to contact you to discuss the
relative merits of a regulated service which we feel may be of
interest to you. 2.
Client Money All
money paid to us will be deposited in a designate bank account and
interest is earned.
We hold this money as agent of the respective Insurance
Companies and risk transfer exists.
We adhere to strict terms of credit on insurance premiums.
Any renewal invitation or other request received must be paid
by the settlement date stated on our invoice, statement or covering
documentation.
Failure to do so may invalidate cover and entitle Insurers to
cancel the policy. If
we have not received the premium from you we are under no obligation
to pay the premium by the payment date to Insurers on your behalf.
We have no responsibility for any loss that you may suffer as
a result of insurers cancelling the insurance or taking other such
prejudicial steps as a result of the late payment of such sums We
normally accept payment by cash, cheque, debit or credit card (2%
fee charged for payment by credit card).
You may also be able to spread your payments through
instalments or a credit scheme.
There will usually be a charge for paying by instalments and
full details will be provided if you select this option
We will give you full details about your payment options when
we discuss your insurance in detail. 3.
Your duty to give information
It
is your responsibility to provide complete and accurate information
to insurers when you take out your insurance policy, throughout the
life of your policy and when you renew your insurance.
It s important that you ensure that all statements you make
on proposal forms, claim forms and other documents are full and
accurate.
Please note that if you fail to disclose any material
information to your insurers this may render your insurance cover
invalid and could mean that all or part of a claim may not be paid.
You
should advise us of any changes immediately and not wait until the
renewal date.
You should check your
insurance cover to ensure it accurately reflects the cover,
conditions, limits and other terms you require
and in particular the policy warranties as failure to comply
may invalidate your cover. 4.
Disclosure of Clients Personal Data
Where insurance business services are provided to us by third
parties then circumstances may arise which warrant the disclosure of
more than just your basic contact details.
On these occasions such as processing business and obtaining
compliance and regulatory advice, you agree that personal
information held by us may be disclosed on a confidential basis and
in accordance with the Data Protection Act 1998 to such third
parties. You
agree that this information may be transferred electronically e.g.
e-mail. You also
agree that we or any such third party or any such company may
contact you in future by any means of communication which we
consider appropriate at the time 5.
Distance Marketing Directive On
the rare occasions when it may be necessary to conduct our business
without any personal contact I will advise you if this requires the
creation of a distance contract between us.
In this event you will be provided with additional
information as required by the Directive. 6.
Claims We
will provide claims handling services during the policy period where
policies are placed by us and a claim is notified to us by you.
Our services include notification of the claim or
circumstances to insurers, representing you in the resolution of the
claim and settlement of the claim in accordance with market practice
and the policy terms and conditions. We will not pursue uninsured
loss claims on your behalf and you would have to take out Motorists
Legal Protection cover for a separate fee. 7.
Your right to cancel your insurance You
have a right to cancel any insurance you buy through us and to
recover any payment made (except as stated below).
You must do this by giving notice within 14 days of receipt
of the policy documents.
If you do exercise this right to cancel you will be charged
by the Insurer for the service provided up to the point of
cancellation.
In addition we will make a cancellation charge of £25.00 and
you will not be entitled to a refund of the service charge made by
us for arranging your insurance. 8.
Professional Indemnity Cover We
maintain a Professional Indemnity Policy for the protection of our
clients in the event of negligence by any member or employee of the
Company and details of this, including the current limits of
indemnity, are available on request 9.
Refunds
Insurers reclaim commission paid to us when you cancel a policy
before renewal or where there is a mid-term alteration to the policy
which results in a refund of premium. The amount reclaimed is based
on the number of days until the planned renewal date.
As a consequence we will make a deduction to the value of the
commission reclaimed from any return premium owing to you. For
certain commercial insurance policies insurers will only provide
cover where the premium is paid in full on inception of the policy
(Minimum and Deposit) and no refund will be paid if the policy is
cancelled before renewal.
We will advise you if this affects you
Complaints
Full details are contained within our internal complaints procedure
which is available to you on request at any time |
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