Terms Of Business
Bruford & Vallance Insurance Services Limited – Terms of Business
SECTION 1 Firms Identity
Bruford & Vallance Insurance Services Ltd 45 St James Street, Taunton, Somerset, TA1 1JR
Registered in England 4540484
Tel No: 01823 277188
Fax: 01823 256411
FINANCIAL CONDUCT AUTHORITY – From the 1st April 2013 The Financial Conduct Authority is the independent watchdog that regulates financial services. Bruford & Vallance is authorised and regulated by the Financial Conduct Authority. Our FCA registration number is 300117. You can check our status at www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA on 0800 111 6768. Our permitted business is advising on and arranging non-investment insurance contracts.
INTRODUCTION & DEFINITIONS – This terms of Business (TOB) refers to both Consumers & Commercial Customers. A Consumer is any natural person who is acting for the purposes which are outside his trade or profession. A Commercial Customer is a customer who is not a consumer.
SECTION 2 Our Service – We are an independent insurance intermediary who acts on our customers, behalf in arranging 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. As part of our service, we will assist you with any claim you need to make and tell you what your responsibilities are in relation to making claims.
SECTION 3 Whose products do we offer? – We offer products from a range of insurers for Motor Car, from a limited number of insurers for Caravan, Commercial Combined, Commercial Vehicle, Directors & Officers, Household, Let & Unoccupied Properties, Liabilities, Motorcycle, Motor Breakdown Recovery, Motor Traders, Offices, Property Owners and Travel. We offer products from a single insurer for Legal Expenses.
To make sure you get the best offer from your insurers, now or at any time and to protect their customers from fraud and to verify your identity, insurance companies may use publicly available data which they obtain from a variety of sources, including a credit reference agency and other external organisations. Their search will appear on your credit report whether or not your applications proceed. As well as these searches insurance companies may use a credit check to ascertain the most appropriate payment options for you. This credit check will also appear on your credit report whether or not your applications proceed. Please contact us if you do NOT consent to a credit check being undertaken, however this may affect our ability to offer certain products and instalment facilities to you. In relation to the provision of credit, we offer only the facilities provided by insurers, or those of Creation Consumer Finance Ltd.
SECTION 4 Confidentiality and data protection – All personal and sensitive information about our customers is treated as Private and Confidential.
We are a data controller for the information you provide to us including individual, identification and financial details, policy history and special category data (such as medical or criminal history).
Details of our legal basis for processing your information, along with details of any third party recipient whom it may be necessary to share your personal data with in order to fulfil the contract, retention period for data held, security of your data, your rights under the General Data Protection Regulations (GDPR) including the right to complain can be found in our full ‘Privacy Notice’ attached to these terms of business.
SECTION 5 Important information (consumer customers only) – Under the Consumer Insurance (Disclosure and Representation) Act 2012 it is your duty as a consumer to take reasonable care not to make a misrepresentation to an insurer. Under the Act a consumer is defined as an individual who enters into an insurance contract wholly or mainly for purposes unrelated to the individual’s trade, business or profession. A failure by the consumer to comply with the insurers request to confirm or amend particulars previously given is capable of being a misrepresentation for the purpose of this Act.
It is important that you ensure all statements you make on proposal forms, claim forms and other documents are full and accurate and we recommend that you keep a copy of all correspondence in relation to the arrangement of your insurance.
Under the Act an insurer has a remedy against a consumer in respect of qualifying misrepresentations in breach of the consumers’ duty of reasonable care where the insurer deems the misrepresentation to be either deliberate, reckless or careless.
If in doubt about any point in relation to your duty to take reasonable care and subsequent qualifying misrepresentations, please contact us immediately.
SECTION 6 The Duty of Fair Presentation (non-consumer customers only) – It is your responsibility to provide a fair presentation of the insurance risk based on you conducting a reasonable search for information. This could require you to obtain information from senior managers within your organization or other parties to which the insurance relates or who carry out outsource functions for your business.
You must disclose every material circumstance which you know or ought to know, or failing that disclose sufficient information to put your insurer on notice that it needs to make further enquiries. You must ensure that any information you provide is correct to the best of your knowledge and representations that you make in expectation or belief must be made in good faith.
If you fail to make a fair presentation of the risk this may result in additional terms or warranties being applied from inception of the policy or any claim payment being proportionately reduced. In some cases, this could result in your policy being declared void by an insurer and your premiums being returned. Any deliberate or reckless breach of the duty of fair presentation could result in your policy being declared void by an insurer with no refund of premium.
SECTION 7 Claims – We have no authority to settle claims on behalf of insurers. In the event of an incident occurring, which may give rise to a claim under your policy, you should notify the insurers as laid out in the claims procedure shown in your policy document or in the case of a motor accident and you have legal expenses cover, use the claim number provided. If you are unsure as to the claims procedure you should contact us as soon as possible using our contact details.
When we receive notification of an incident that might give rise to a claim under your policy, we will inform the insurer without delay. We shall use our best endeavours when acting on your behalf in relation to a claim, to handle all elements of the claim with due care, skill and diligence. We will advise you promptly of insurers’ requirements concerning claims, including the provision, as soon as possible, of information required to establish the nature and extent of a loss. We will forward any payments received from insurers in respect of any claim, to you, without delay.
We will notify you of any request for information we receive from your insurers.
SECTION 8 Complaints – It is our intention to provide you with the highest possible level of customer service at all times. However, we recognize that things can go wrong occasionally and if this occurs we are committed to resolving matters promptly and fairly. Should you wish to complain, you may do so:
- In writing to the Complaints Manager Mr Jason Mayled
- By telephone on 01823 277188 or By Fax on 01823 256411 or By email at firstname.lastname@example.org
- In person by visiting our office (see above for full address)
Should you not be satisfied with our final response, you may be entitled to refer the matter to the Financial Ombudsman Service (FOS). More information is available on request or on their website www.financial-ombudsman.org.uk Further details will be supplied at the time of responding to your complaint.
SECTION 9 Payment options – In order to be able to offer you credit facilities, we hold Interim Permission as a Credit Broker (OFT Licence Number 529004). Bruford & Vallance Insurance Services Ltd does not charge any fees to customers in relation to Credit Broking activities.
We normally accept payment by cash, bank transfer, cheque and most major credit/debit cards, except American Express & Diners Club. Credit card and Debit card payments incur no charge. You may be able to spread your payments through insurers’ instalment schemes or a credit scheme with a third party finance provider for who we act as an agent, however rates and acceptance may be subject to a credit check. We will give you full information about your payment options when we discuss your insurance in detail. Your policy cover will cease if you fail to keep up payments on an instalment agreement or premium finance facility related to it, and your credit rating may be affected.
SECTION 10 What you will pay us for our services –
- Where the insurance provider pays a commission, the firm will retain this.
- New policies excluding household and commercial – £11.00 fee.
- Renewal charge excluding household and commercial – £16.00.fee
- Transferring insurer – £16.00 fee.
- Household policy charges. Premium up to £299 – £13.50; £300 to £599 – £21.00; £600 to £899 – £26.00; £900+ – £31.00.
- Adjustments – £11.00 fee.
- Return premiums £11.00 or the amount of commission repaid to your insurer, whichever the greater
- Policy Cancellation – £21.00 fee
- The specific charge and purpose of any additional charges will be advised to you in advance.
SECTION 11 Risk transfer – Premiums that we collect from you are held in an insurance broking bank account specifically used for the purpose of holding client premiums. By virtue of agreements we hold with insurers, we collect premiums as agent of the insurer. Therefore, once we have collected premiums from you, under the terms of our agreements with insurers, those premiums are treated as having been paid to the insurer. We will remit the premiums to insurers, after deduction of our commission, in accordance with the terms of our agreements with insurers.
SECTION 12 Policy terms, conditions and warranties – You should read through all policy terms, conditions and warranties shown on your policy documentation. Please ensure you understand them and are able to follow their requirements exactly. If not, please advise us immediately, as a breach of any terms, conditions or warranties may enable your insurer to terminate your policy from the date of that breach, and/or repudiate a claim under your policy.
SECTION 13 Policy renewals – We shall contact you in good time before the due date with the renewal premium and terms for the coming year, provided that you have furnished us with all relevant pre-renewal information that we have requested.
Renewal by insurers instalment plan – If there have been no changes in the risk and your circumstances, and it is your intention to renew the policy, the policy will renew automatically without any action required from you. We shall send your new documentation or certificate of insurance to you, if appropriate. If you do not wish to renew the policy please let us know as soon as possible. We would also advise you to cancel your direct debit mandate (DDM) with your bank prior to the renewal date.
Renewal when using Creation Consumer Finance Ltd – If there have been no changes in the risk and your circumstances, and it is your intention to renew the policy, we will make arrangements for the policy to renew without any action from you. We shall send your new documentation or certificate of insurance to you, if appropriate. We will make arrangements for the renewal premium to be added to your credit plan and a new schedule of monthly payments will be sent by Creation Consumer Finance Ltd. If you do not wish to renew the policy please let us know as soon as possible. We would also advise you to cancel your direct debit mandate (DDM) with your bank prior to the renewal date. Finance will be subject to possible credit checks by Creation Consumer Finance Ltd.
SECTION 14 Financial Services Compensation Scheme (FSCS) – We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. If you are not a private individual this depends on the type of business and the circumstances of the claim. For non-compulsory classes of insurance, insurance advising and arranging is covered for 90% of the claim. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit. Further information about eligibility and compensation scheme arrangements is available from the FSCS. Their website address is www.fscs.org.uk
SECTION 15 Governing law – The English language will be used for all communications, the contractual terms and conditions, and any information we are required to supply to you, before and during the duration of the contract and this agreement shall be subject to English Law
SECTION 16 Government taxes – We have no control over taxes such as Insurance Premium Tax (IPT) or Value Added Tax (VAT). Either or both of these may be chargeable in relation to the products and services offered by us and will be levied at the appropriate rate when due.
SECTION 17 Motor and home insurance anti-fraud registers – Insurers share information with each other via the Claims and Underwriting Exchange Register (CUE), Motor Insurance Anti-Fraud and Theft Register to aid the prevention of fraudulent claims
In the event of a claim, the information you supply, together with any other information relating to the claim, will be put on the Registers.
SECTION 18 Motor Insurer Information Centre (MIIC) – Insurers are legally required to provide details of motor insurance policies to the MIIC. The information describing your insurance cover will be added to the Motor Insurance Database (MID), to which the police and other government agencies have access. This helps the pursuance of claims following accidents, and aids detection of those who are in contravention of the law by not taking out insurance.
SECTION 19 Motor Insurance – Driving Licences – It is your responsibility to ensure that you and all named drivers hold a valid driving licence(s) for the insured vehicle(s). Failure to hold a valid licence may invalidate your insurance. Drink/Drugs clause – A number of insurers will repudiate a claim if, at the time of an accident, the vehicle is being driven by a person under the influence of alcohol or any other substance that would adversely affect a persons ability to drive. Continuous Insurance Enforcement (CIE) – Continuous Insurance Enforcement (CIE) means that your vehicle must be continuously insured, or a Statutory Off Road Notification (SORN) sent to the DVLA. If your vehicle is not on the MID database (which can be checked at www.askmid.com) you could be liable for a fine, prosecution, and your vehicle could be clamped or seized. Further information is available at www.direct.gov.uk/en/motoring
(Version 13 effective 26 April 2018)