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Terms of Business

Our Service

Goodmans Commercial Insurance Brokers LLP is an independent insurance broker, specialising in commercial insurance products and services. As an independent insurance broker, we act on your behalf in arranging your insurances.  Our service includes advising you on your insurance needs, arranging insurance cover to meet your requirements and helping you with any ongoing changes which you have to make.  As part of our service, we will assist you with any claim which arises under your policy and, where appropriate, the recovery of uninsured losses. We can also issue policies on behalf of certain insurers.

We are authorised and regulated by the Financial Conduct Authority (FCA) to sell general insurance products. Our FCA register number is 310807 and you can check this on the FCA’s register by visiting their website www.fca.org.uk   or by telephoning them on 0800 1116768.

We offer a wide range of commercial and personal insurance products and have access to leading insurers in the market place. For Motor Uninsured Loss Recovery insurance we deal exclusively with RVM Assist Ltd (underwritten by Elite Insurance Company Ltd), whom we have selected as offering good value and service.

Quotations

Quotations are usually subject to a satisfactorily completed proposal form, confirmed claims experience and risk survey. Cover will be subject, unless otherwise stated, to the normal   terms and conditions of insurers policies, implementation of any risk improvements following survey and acceptance of the proposal form.

Quotations are inclusive of Insurance Premium Tax (IPT) at the current rate unless otherwise stated.  Any quotation given is valid until the end of the calendar month, unless stated otherwise. If you are a Retail customer we will allow you a ‘cooling-off’ period of at least 14 days from the date on which you receive policy documentation. During this period you may cancel and receive a full refund of premium subject to deduction of any charge or administration fee imposed by insurers, provided no claims have been made, or are pending.

Payment Terms

by insurers are on a net of commission basis; in these cases we may charge a fee but this will be in line with commission levels normally payable. For some classes of insurance, we charge an administration fee as shown in our leaflet entitled ‘About our insurance Services’. In all instances, we will confirm the amount before you mak

In order to be able to offer you credit facilities, we are registered under the Consumer Credit Act and our Licence Number is 555798. Our standard terms of business require settlement of premiums in full within 30 days from the date of invoice, except for clients holding personal insurances only, where settlement is required at inception or renewal date, unless agreed otherwise. You may be able to spread payments through an instalment facility provided by an insurer or a credit scheme which 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.

The invoiced premium will include, where applicable, UK Insurance Premium Tax at the prevailing rate (certain policies may attract different rates). Invoices will include any administration charges, together with account handling fees and/or collection charges made by or on behalf of insurance companies and/or underwriting agencies and/or brokers. Invoices will not include instalment charges made by insurance companies or third party premium collection agencies for premium finance or premium credit arrangements.

Interest on Customer Premiums

We hold premiums that you pay us in a statutory trust client current bank account and we remit premiums to insurers, after deduction of our commission, in accordance with the terms of our agreements with insurers. Under FSA Regulations we have to inform you that we may earn interest from the money held in our client bank account which may exceed £20 for any one transaction that you make with us. Any interest earned in this respect will be retained by the company. By accepting these Terms of Business, you are giving your consent for us to act in the manner described in this section.

Charges

As independent brokers we are paid a commission by your insurance company, details of which are available on request. In some instances, premiums advised e any commitment.

Return premiums (usually arising if an insurance risk is reduced or a policy cancelled) On a return premium, we repay commission on the amount to your insurer and this will be deducted from the final amount refunded to you.

Claims

You must notify us of all incidents which may result in a claim as soon as possible.  Reporting an incident does not mean that you are committed to make a formal claim under your policy.  However, if you do not report an incident and subsequently wish to make a claim, your insurers could decline the claim by virtue of late notification. Control of claims is the responsibility of the insurer; you must not compromise their rights.  You should not make any admissions of liability.

If you make a claim we will respond promptly, explain how we will handle your claim and tell you what you need to do. We will give you reasonable guidance to help you make a claim. We will notify you of any request for information we receive from your insurers promptly. We will forward any payments received from insurers in respect of any claim, to you, without delay.

Confidentiality/Data Protection

All personal information about you will be treated as private and confidential.  We will only use and disclose information about you in the normal course of arranging and administering your insurance.  We will not disclose such information to other parties without your consent, unless it is required by law to comply with a subpoena and/or compelled by law to comply with the Data Protection Act or other statutory requirements.  Please be aware that insurers may share information with each other and statutory agencies to reduce the levels of insurance fraud. We may use information which we hold about our customers to provide them with information about other products and services which we feel may be appropriate to them.

Under the Data Protection Act 1998, private customers have a right to see personal information which we hold in our records. If you wish to exercise this right or have any other related queries, you should write to us at the address overleaf.

Your Obligations

Insurance policies are contracts under which both the insured and insurers have obligations.  It is your responsibility to provide complete and accurate information to insurers when you    take out your insurance policy, throughout the life of the policy, and when you renew your insurance.  It is important that you ensure that all statements which you make on any proposal forms, claims forms and other documents are full and accurate. If you are in any doubt about whether information is material, you should disclose it. There is a duty upon you to notify any changes which are material to any increase or change in risk and any convictions.  You are also advised to keep copies of all letters which you send us for your own protection.  Failure to disclose any material information could invalidate your insurance cover and could mean that part or all of a claim may not be paid.  It is your responsibility to make yourself aware of any terms and conditions which apply to your policy and to ensure that the cover provided is adequate.

You are reminded that it is an offence under the Road Traffic Act to make any false statements or withhold any relevant information with the object of obtaining an Insurance Certificate.

If a form is completed on your behalf, you should check that the answers shown to any questions are true and accurate before signing the document, as these will be treated as having been completed by you.

Complaints

It is our intention to provide you with a high level of customer service at all times. However, if, at any time, you are dissatisfied with the service we provide, we have a formal Complaints Procedure. You should therefore take the following course of action:

In the first instance, you should contact the member of staff with whom you have been dealing either in writing or by telephone. If you remain dissatisfied, please ask to speak to Paul Goodman. We will acknowledge receipt of your complaint in writing within 5 working days and let you have our response to your complaint at this time if we can. If it will take longer to deal with your complaint, we will advise you who is dealing with the matter and when you can expect to receive a fuller response. We will provide you with a full written response within 20 working days or explain the current position and provide you with a timescale for a full response. If we find your complaint is valid, we will agree with you a mutually acceptable form of redress. Your Insurer also has a complaints procedure, details of which can be found in your Policy. Should you feel the problem has still not been resolved, you may be able to refer it to the Financial Ombudsman Service.

We are also covered by the Financial Services Compensation Scheme and you may be entitled to compensation from the scheme if we cannot meet our obligations depending on the type of business and the circumstances of the claim. Insurance advising and arranging is covered for up to 90% of the value of any claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of any claim, without upper limit. Further information about the compensation scheme arrangements is available from the FSCS.

By making a complaint, you do not prejudice your rights to any legal proceedings. The parties to a contract of insurance covering a risk situated in the United Kingdom are permitted to choose the law applicable to the contract. English Law will govern your insurance.