Terms of Business
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 attention to the section headed ‘Confidentiality and Data Protection, specifically the information explaining how ‘sensitive personal data’ will be used and the details about credit reference agencies. 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 address above.
Dovetail Insurance Services Limited is authorised and regulated by the Financial Conduct Authority (FCA) to sell and administer general insurance products and to act as a credit broker in relation to arranging insurance premium instalment finance. Our Financial Services Register number is 306866 and you can check this by visiting the FCA’s website https://register.fca.org.uk/ or by contacting the FCA on 0800 111 6768.
Our service to you
In arranging insurance for our customers, we act as an independent intermediary and act on your behalf when arranging your insurance. Our service includes: advising you on your insurance needs; arranging your insurance cover with insurers to meet your requirements; and helping you with any ongoing changes you have to make. We offer a range of general insurance products and have access to leading insurers in the market place. For some types of insurance we deal predominantly with a single or limited number of insurers which we have selected as offering value for money and quality service. We will give you the details of these arrangements before you make any commitment on any product we offer you, and a list of the insurers in these cases will be available on request. We will not in any circumstance guarantee the solvency of any insurer. Acting as a credit broker, we will typically either arrange instalment facilities with your insurer of we will use one insurance premium instalment finance provider.
Consumers – Reasonable Care and Cooling Off Period
Your duty of reasonable care – it is your duty to take reasonable care when answering questions during the arrangement of an insurance policy and that all answers are provided with care and accuracy. If you have not fulfilled this duty of care you may find that insurers are able to avoid the policy or that an entire claim or a proportionate part of it may not be payable. Where appropriate, the answers provided by you are recorded in the statement of fact or proposal form attached. This also applies to existing insurances where you have previously been sent a statement of fact or have signed a proposal. You must check that the answers recorded remain accurate (a copy of the proposal form or statement of fact is available on request). Please do consult us if you are in doubt on any aspect. We will give you enough information and help so you can make an informed decision before you make a final commitment to buy you insurance policy. However, you will have 14 days to change your mind and cancel the insurance contract from the date you receive the policy documentation.
Commercial Clients Disclosure
You have a duty to give a fair presentation of risk to the insurer. 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 or persons responsible for arranging your insurance know or ought to know. It 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; and
- 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 clearly and in a manner which is accessible. If you are unsure whether to disclose any information you should speak to us. 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 then review the merits of a claim on this basis. You are advised to keep copies of documentation sent to or received from us for your own protection. Please do consult us if you are in doubt on any aspect.
You are entitled at any time to request information regarding commission which we may have received as a result of placing your insurance business.
Premiums and Financial Aspects
We act as the agent of the insurers we use in collecting premiums and handling refunds due to clients and as well as the transfer of claim monies. We hold these insurer monies separate from our own money, segregated into an Insurer Trust Account. When we hold monies in such an account we may earn interest on monies held, which will be retained by us. We may transfer money to another person, such as another broker or settlement agent, for the purpose of effecting a transaction on your behalf through that person. We do however remain responsible to the insurer in respect of your money.
Please be aware that current UK money laundering regulations require us to obtain adequate ‘Know Your Client’ information about you. We are also required to cross check you against the HM Financial Sanctions List as part of the information gathering process. We are obliged to report to the Serious Organised Crime Agency any evidence of suspicion of financial crime at the first opportunity and we are prohibited from disclosing any such report.
Awareness of your 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 insurance contract you have purchased. If you are in doubt over any of the policy terms and conditions, please seek our advice promptly.
We normally receive commission from insurers, product providers and where applicable finance providers. We reserve the right to make charges, in addition to any insurance premiums, for the arranging, amending, renewing and cancelling any policy of insurance. Details of chares made will be declared in all correspondence with you. 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 view of the costs involved, we will not issue any return premium that is less than £10 (after deduction of charges). An amount less than £10 will be held to your credit and can be utilised against any future insurance policy with us. By asking us to arrange and handle your insurances, you are providing your informed instruction to hold such return premium to your order.
Cancellation of insurances
You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance must be returned to us or to the insurer concerned. 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 and will take effect from the date of receipt. 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 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.
Customer Protection Information and Complaints
It is our intention to provide you with a high level of customer service at all times. If there are occasions when we do not meet your standards, please contact a director of the business, either verbally or in writing. They will take details of your concerns and we will then acknowledge in writing, advising you of who is dealing with the matter and attempt to address this within 5 working days. If our investigations take longer, we will provide a full response within 20 working days, or explain our position and provide timescales or a full response. If we cannot satisfy your complaint you may be entitled to refer it to the Financial Ombudsman Service. For further information you can visit FOS website www.financial-ombudsman.org.uk.
Financial Services Compensation Scheme (FSCS)
We are covered by the FSCS. You may be entitled to compensation from this scheme if we cannot meet our obligations. Further information about compensation scheme arrangements is available from the FSCS on 0800 678 1100 (freephone) or 020 7741 4100 or www.fscs.org.uk.
Confidentiality and Data Protection
We will only use and disclose the information we have about private individuals in the normal course of arranging and administering their insurances, and will not disclose any information to any other parties without their written consent. We will process your information in accordance with the Data Protection Act 1998. Unless we are notified of any changes, we shall assume the personal and sensitive data (such as information about offences or medical conditions) we hold about our customers is correct, and shall use it to provide quotations when policies fall due for renewal. We may pass information about you to credit reference agencies for the purposes of arranging payments by instalments, and may also pass to them details of your payment record with us. Under the Data Protection Act 1998, private customers have a right to see personal information about them that we hold in our records. A charge of £10 may be made for this service. If you wish to exercise this right, or have any other related queries, you should write for the attention of the Managing Director at the address above.
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.
These Terms of Business are constituted under English Law and shall be subject to the sole jurisdiction of the Courts of England and Wales.
Dovetail Insurance Services Limited. Registered in England under Company No. 04822711
Registered Office: 486 London Road South, Lowestoft, Suffolk, England, NR33 0LB
Any attempt to damage this website or act in contravention of these terms and conditions may give rise to legal redress.