LOSS DAMAGE WAIVER REIMBURSEMENT INSURANCE DAILY POLICY/BAGGAGE
EXCESS REIMBURSEMENT INSURANCE
WHAT IS EXCESS REIMBURSEMENT INSURANCE?
Most car rental agreements apply an insurance excess, which is the amount you are responsible to pay towards repair costs if the rental vehicle suffers any damage. Excess Reimbursement is designed to repay you the amount of any excess or repair costs you have to pay under the terms of the rental agreement following damage to the rental vehicle.
This insurance is underwritten by Jubilee, Lloyd’s Syndicate 5820 which is authorised by the Prudential Regulatory Authority and regulated by the Financial Conduct Authority (reference number 226696) and the Prudential Regulatory Authority. This information can be checked by visiting the Financial Services Authority website (http://www.fsa.gov.uk/register
/home.do) which includes a register of all regulated firms, or by contacting them on 0845 606 1234.
The Lloyd’s Managing Agent for Lloyd’s Syndicate 5820 is Jubilee Managing Agency Limited. It is entered in the Register of Lloyd’s Managing Agents. Registered Office: 47 Mark Lane, London, EC3R 7QQ, registered in England number 04434499.
This insurance is underwritten 100% by a Lloyd’s syndicate, and each member of the syndicate (rather than the syndicate itself) is an insurer. Each member has underwritten a proportion of the total liability for the syndicate, which is the total of the proportions underwritten by all the members of the syndicate taken together. A member is liable only for that member’s proportion and is not jointly liable for any other member’s proportion.
The business address of each syndicate member is Lloyd’s, 1 Lime Street, London EC3M 7HA. The identity of each member and their respective proportion may be obtained by writing to Market Services, Lloyd’s, at the above address.
YOUR INSURANCE DOCUMENTS
This is your Insurance Policy. It is only valid when you have also received your certificate. This document makes up the insurance contract between you and us (the Insurer). Please keep this in a safe place.
All insurance documents and all communications with you about Excess Reimbursement will be in easy to understand English.
CERTIFICATION OF COVER
This Policy combined with your certificate certifies that insurance has been effected between you and us. In return for payment of the premium we agree to insure you in accordance with the terms and conditions contained in and endorsed on these documents.
This insurance is managed by insurance4carhire which is a trading name of Towergate Underwriting Group Limited. We have entered into a Binding Authority Contract reference number 6025/EW150 with Towergate Underwriting Group Limited under which we have authorised them to sign these documents on our behalf. If you purchased this insurance from an insurance broker then the broker will be authorised by us to issue these documents to you.
Jubilee Service Solutions Limited is appointed by us to handle all claims under this insurance. You can find their details in Section 8 How to Make a Claim.
COOLING OFF PERIOD
If you decide that you do not want this insurance after all, you may return your Excess Reimbursement Insurance documents to Insurance4carhire, Towergate Insurance, Ellenborough House, Wellington Street, Cheltenham, GL50 1XZ within 14 days of receiving them and cancel the cover. You will receive a full refund of premium as long as you have not made a trip or intend to make a claim or a claim has been made.
DEMANDS AND NEEDS
This product meets the demands & needs of those clients who rent a vehicle in territories as defined in the Territory Section for the specified period for any one Rental Agreement and who have paid a premium in return for this policy. Further details of the key benefits are as outlined below. This statement does not form part of your policy. You have not received any personal recommendations from Insuremycarhire.com.
STATEMENT OF PRICE
This Loss Damage Waiver Excess Reimbursement Policy provides worldwide cover for an inclusive daily cost of £4.50 per day.
Already included within this Policy's inclusive cost there is an Administration Fee of £2.69 and any applicable Insurance Premium Tax charged at 6%.
2. TO QUALIFY FOR COVER
1. To apply for this Excess Reimbursement Insurance you must be the person named as the car club member or the lead named driver on the rental agreement.
2. You can include up to seven additional insured drivers for each trip as long as each additional insured driver is named as a driver on the rental agreement.
3. You and all other insured drivers must be aged between 21 and 85 years of age on the date of purchase of this Insurance and must have a full valid driving licence, or hold a full internationally recognised licence to drive the rental vehicle.
4. You must be a permanent resident in European Economic Area (EEA).
5. Cover is not available for rental vehicles valued at more than £50,000, or which are more than 10 years old.
“Baggage and/or Personal Effects” means luggage, clothing, personal effects and other articles normally worn used or carried during any Trip/s and which belong to you (or for which you are legally responsible)
“Car Club Company” means a company or agency that is fully licensed with the regulatory authority in the United Kingdom, and which provides registered paying members access to a rental vehicle within the car club company fleet for short term hire. Please note car club company is different from car rental company or agency.
“Car Club Member” means a member of the car club company. This policy covers “Joint Members” and/or “Partner Members” who live at the same main residence as the main car club member.
“Car Rental Company or Agency” means a company, which must be fully licensed with the regulatory authority of the Country, State or Local Authority from which it operates, which rents automobiles for a fee.Please note car rental company or agency is different from car club company.
“Certificate” means the document which forms part of the insurance contract between you and us. It contains your name and gives details of the period and territory provided under your Excess Reimbursement Insurance.
“Damage” means damage to the rental vehicle caused by fire, vandalism, accident and theft and it will include loss of use of the rental vehicle.
“European Economic Area(EEA)” means the member counties the EEA: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom.
“Excess” means the amount as stated in the rental agreement that you are responsible for in the event of damage.
“Insured Drivers” means you and other drivers covered by this Policy as long as they are named on the rental agreement and qualify for cover as specified in Section Two.
Membership Card/Keys means Keys, Key Fobs, Membership Cards used to open and lock the rental vehicle.
“Period of Insurance” means the annual period of cover under this Excess Reimbursement Insurance for which we have accepted the premium, as stated in your certificate.
“Rental Agreement” means the contract signed by the lead named driver or car club member and the car rental company or agency or car club company for the hire of a rental vehicle for the purpose of business or pleasure.
“Rental Vehicle” means any single automobile hired under a short term contract from a car rental company or agency or car club company. This insurance will not cover any rental vehicle that is a motor home, camper van, trailer or caravan, commercial vehicle or truck, motorcycle, moped, motorbike, off-road vehicle, recreational vehicle, high performance vehicle, prestige or exotic vehicle, passenger van or other vehicle with more than 9 seats.
Trip/s means the period of a single rental agreement in respect of a single rental vehicle which is collected and rented from a car rental company or agency or car club company for the period stated on the rental agreement.
“We/Us/Our” means Jubilee, Lloyd’s Syndicate 5820. We are the insurer for your Excess Reimbursement Insurance.
You/Your” means the person who took out this Excess Reimbursement Insurance and is named as the policyholder on the certificate and who must also be the person named as the car club member or the lead named driver in the rental agreement.
4. WHEN AND WHERE COVER APPLIES
VALID RENTAL AGREEMENTS
This Policy must have been purchased and have commenced, either prior to or to coincide with, the start of a rental agreement for which you wish cover to apply.
MAXIMUM RENTAL PERIOD
This insurance covers you only for rental agreements that are for a period of up to 62 continuous days.
You are covered only when you use the rental vehicle in the Territory specified in your certificate. This will be one of the following geographical areas:
The United Kingdom of Great Britain and Northern Ireland.
All countries to the west of the Ural Mountains including the United Kingdom, Republic of Ireland, Iceland, islands in the Mediterranean, Morocco, Tunisia, Turkey, Canary Islands, Madeira, and the Azores.
USA AND CANADA
This will include the Caribbean, South and Central America.
Anywhere in the World excluding any trip in, to, or through Afghanistan, Belarus, Cuba, Congo, Iran, Iraq, Ivory Coast, Liberia, North Korea, Myanmar, Sudan and Zimbabwe.
5. WHAT IS COVERED
WHAT YOU ARE COVERED FOR
We will reimburse you up to the Policy Limit stated below for the amount of excess or repair costs you have to pay under the terms of the rental agreement if your rental vehicle is involved in an incident whilst being used for business or pleasure and it results in:
(a) damage to the rental vehicle including damage to the windows, tyres and wheels, headlights, the undercarriage and the roof
(b) loss of use of the rental vehicle
(c) towing costs relating to damage or mechanical breakdown
Provided that you are held responsible as declared in the rental agreement for the excess.
POLICY LIMIT – THE MOST WE WILL PAY
We will reimburse you for the excess or repair costs up to a maximum of £4,000 (or equivalent in local currency) for any single incident. You can claim under Excess Reimbursement more than once but in total we will only reimburse you up to a maximum of £5,000 (or equivalent in local currency) during any one annual period of insurance.
AUTOMATIC EXTENSIONS TO THE POLICY
Your Policy automatically includes cover for the following costs and services:
A. CAR RENTAL KEY COVER
This Policy also covers you, for costs incurred up to a maximum of £500 (or equivalent in local currency), for each and every claim, subject to a maximum of £2,000 in any one period of insurance, for replacing a lost or stolen membership card/key for a rental vehicle, including replacement locks and locksmith charges.
B. MISFUELING COVER
This Policy also covers you for costs incurred up to a maximum of £500 (or equivalent in local currency) for each and every claim, subject to a maximum of £2,000 in any one period of insurance, for cleaning out the engine and fuel system and associated towing costs in the event that you put the wrong type of fuel in your rental vehicle.
C. IN-COUNTRY RENTALS
This Policy also covers you where a rental agreement is made in your country of residence.
This Policy will provide an additional benefit of £25 (or equivalent in local currency) per day if the Rental Agreement is cancelled or cut short on the advice of a physician
The maximum amount payable during the Period if Insurance is £300 (or equivalent in local currency).
Cover is subject to the following conditions:
(i) The Insured Driver must be confined to a bed in a hospital, in a hotel or in private accommodation during the time that the Rental Vehicle was booked and paid for.
(ii) The Rental Agreement must be for at least a minimum of 7 days, proof of the booking and duration of rental may be requested by the Assistance Company.
(iii) In the event of a claim the Insured Driver must present both the Rental Agreement and a medical certificate confirming You had been confined to bed.
E. DROP OFF CHARGES
In the event of there being no Insured Driver as named on the Rental Agreement to return the Rental Vehicle to the Car Rental Company or Agency following an accident or illness for which hospitalisation takes place, this extension will indemnify You up to but not exceeding £300 (or equivalent in local currency) to pay for drop off charges incurred through the Car Rental Company or Agency.
Cover is subject to the following conditions:
(i) One-way drop off rentals are excluded.
In the event that You are unintentionally locked out of the Rental Vehicle, We will pay the costs incurred to open the car, without causing any further damage to the said Rental Vehicle, up to a maximum of £60 (or equivalent in local currency).Cover is subject to the following conditions:
(i) The Car Rental Company or Agency must approve the locksmith and the course of action prior to a locksmith being called out.
(ii) All receipts are to be retained and presented by You to the claims administrator for the reimbursement to be approved.
Failure to follow these steps may void this cover.
G. BAGGAGE COVER
We will indemnify You against theft of or Damage to Baggage and/or Personal Effects as a result of theft or attempted theft, following upon visible and forcible entry. Provided such items are secured in the Rental Vehicle in either a locked boot or glove box only. We will indemnify You for losses incurred during the Period of Insurance up to:
Provided that you are held responsible as declared in the rental agreement for the excess.
· £300 in total for any one claim
· £150 for any single item
The maximum payment for any single item for which an original receipt, proof of purchase or insurance valuation (obtained prior to the loss) is not supplied is £75, subject to a maximum £200 for all such items.
H. ROAD RAGE
We will pay You or Your legal representatives £1,000 (or equivalent in local currency) if You suffer a physical assault by another person which results in a physical injury as a direct result of an accident involving Your Rental Vehicle.
The maximum amount We will pay is £1,000 (or equivalent in local currency) in any one period of cover.
J. CAR JACKING
We will pay You or Your legal representatives £1,000 (or equivalent in local currency) if You suffer a physical assault by another person which results in a physical injury as a result of Your Rental Vehicle being subject to an theft or attempted theft.
The maximum amount We will pay is £1,000 (or equivalent in local currency) in any one period of cover.
6. WHAT IS NOT COVERED (EXCLUSIONS)
We will not reimburse your excess or any financial loss or expense in the following circumstances:
6.1 If your country of residence is outside the European Economic Area (EEA) or if you or any other insured driver do not qualify for cover as set out in Section Two.
6.2 Where the rental agreement is for a period longer than 62 continuous days.
6.3 Where damage is as a result of willfully self-inflicted injury or illness, alcoholism or the use of alcohol or drugs (other than drugs taken in accordance with treatment prescribed and directed by a registered medical practitioner, (but not for the treatment of drug addiction); exposure to unnecessary danger except in an attempt to save human life.
6.4 If your losses are in respect of any property or expenses are more specifically insured or any claim which but for the existence of this insurance should be recoverable under any other insurance.
6.5 Where damage arises from operation of the rental vehicle in violation of the terms of the rental agreement, including transporting contraband or illegal trade.
6.6 Where expenses are assumed, waived or paid by the car rental company or agency or car club company or its Insurer.
6.7 For damage to automobiles or other vehicles which are not rental vehicles.
6.8 For damage caused by wear and tear, gradual deterioration, insect or vermin.
6.9 For losses caused by accidental damage to the interior or contents of the Rental Vehicle.
6.10 Where the rental vehicle is being driven by persons who are not named on the rental agreement.
6.11 Where the value of the rental vehicle exceeds £50,000, or is more than 10 years old
6.12 If the rental vehicle is a motor home, camper van, trailer or caravan, commercial vehicle or truck, motorcycle, moped, motorbike, off-road vehicle, recreational vehicle, passenger van or other vehicle with more than 9 seats.
6.13 Where the expenses are reimbursed by the insured driver's Employers' Insurer.
6.14 Where damage is the result of driving whilst on an un-made up road.
6.15 In respect of AUTOMATIC EXTENSION G) Baggage Cover, cover is not provided for:
1. claims arising from theft or Damage of
i) cash (defined as banknotes, currency notes and coins), For Damage to automobiles or other vehicles, which are not Rental Vehicles.
ii) valuables (defined as: photographic and video equipment, camcorders, radios and personal stereo equipment, computers, computer games and associated equipment, mobile telephones, telescopes and binoculars, furs, jewellery, watches, and articles made of or containing gold, silver or other precious metals),
2. wear, tear and depreciation of Baggage and/or Personal Effects,
3. claims not reported to an appropriate police authority within 24 hours of discovery and an official police report obtained,
4. claims where evidence of forced entry have not been confirmed by the Car Rental Company or Agency or Car Club Company and/or police,
5. claims arising from theft or Damage of Baggage and/or Personal Effects from Your Rental Vehicle unless taken from a locked boot or glove box.
6. claims recoverable under any other insurance
6.16 In respect of Automatic cover Extension H. Road Rage and I. Car Jacking We will not pay You where the physical assault:
is caused by a relative or a person known to You;
results in a physical injury which is not supported by medical evidence;
is not reported to the police within 24 hours of the incident;
is contributed to by anything said or done by You or any passenger in Your Rental Vehicle, other than the incident itself;
6.17 If your claim results in any way from war, terrorism or nuclear risk. For the purposes of this exclusion:
“War” means invasion, acts of foreign enemies, hostilities whether war is declared or not, civil war, rebellion, revolution, insurrection, military or usurped power, confiscation, nationalism or requisition or destruction or damage to property by or under the order of any government or public or legal authority.
“Terrorism” means any act of any person or organization involving, causing or threatening harm or putting the public or any section of the public in fear if it is likely that the purpose is of a political, religious, ideological (of an intellectual or rational nature) or similar nature.
“Nuclear Risk” means damage or destruction caused by, contributed to or arising from:
(a) ionizing radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel; or
(b) the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or component thereof.
You may cancel this insurance within 14 days of receiving it (cooling off period) and you will be entitled to a full refund of the premium as long as you have not made a trip or made a claim and do not intend to make a claim.
You can cancel at any time after the 14 day cooling off period and we will make a proportionate refund of the premium paid, as long as you have not made a trip or made a claim and do not intend to make a claim. However, such refund may be subject to administration charges from Towergate Underwriting Group Limited and/or your insurance broker if you purchased this Policy through a broker. To cancel cover please contact: Insurance4carhire.com, Towergate Insurance, Ellenborough House, Wellington Street, Cheltenham, GL50 1XZ, email address: email@example.com, telephone number: (+ 44 (0) 844 892 1770) or contact your insurance broker if you purchased this Policy through a broker.
We may cancel your policy at any time by giving you seven days' written notice to your last known email address (or mailing address if you do not have an email address) provided by you. We will allow a proportionate refund of any premiums paid for the insurance cover remaining, as long as you have not made any claims.
8. HOW TO MAKE A CLAIM
STEP ONE – CHECK YOUR CERTIFICATE
Read this Policy and your certificate first so that you are satisfied that you are covered for the claim you want to make. Read any Exclusions that may apply and make sure you understand them.
STEP TWO – NOTIFY THE CLAIM
All claims must be notified to our Claim Administrator, their details are below. You should do this within 31 days of the end of the rental agreement in which the incident happened. If you do not, it might mean that we will be unable to reimburse you for the excess or other losses. Please contact:
Jubilee Service Solutions Limited
Specialist Claims, PO BOX 1192, Doncaster, DN1 9PU
Phone: 0844 854 2059
Fax: 0844 412 4158
Please tell them the policy reference number which will be shown in your certificate. If you are not sure whether you can claim, please talk to the Claim Administrator who will be happy to help you.
STEP THREE – AFTER THE CLAIM IS NOTIFIED
The Claim Administrator will send you a claim form, which you should fill in and send back to them as soon as possible.
The paperwork you need to provide. We will need copies of these documents
· Your Insurance4carhire insurance certificate
· The rental agreement
· Your Charge Receipt (if separate from the rental agreement)
· Police Report if the incident by law required the Police to attend
· The accident report from the car rental company or agency or car club company
· Invoices/Receipts/other documents confirming the amount you have paid in respect of damage for which the car rental company or agency or car club company holds you responsible
· Your credit card statement showing payment of the damages claimed
· Driving licence for the insured driver involved in the accident
Bank account details
Please provide the name and address of your bank together with the sort code and account details. This will assist reimbursement as we prefer to make the payment directly to your bank.
PLEASE NOTE: FAILURE TO FOLLOW THESE STEPS MAY DELAY AND / OR JEOPARDISE THE PAYMENT OF YOUR CLAIM
9. CLAIMS CONDITIONS
9.1 CLAIMS CONDUCT
You must give our Claim Administrator any information or help that they ask for and you must not settle, reject, negotiate or agree to pay any claim without their written permission.
No person is entitled to admit liability on our behalf or to give any representations or other undertakings binding upon us except with our written consent. We shall be entitled to the absolute conduct, control and settlement of all proceedings arising out of or in connection with claims in your name or the name of any insured driver.
9.2 RIGHT OF RECOVERY
We may at own expense take proceedings in your name or the name of the insured driver to recover compensation from any Third Party in respect of any indemnity provided under this Insurance and any amounts so recovered shall belong us. You and/or the insured driver must provide all reasonable assistance to us.
9.3 OTHER INSURANCE
If you were covered by any other Insurance for the same excess we will only pay our share of the claim.
9.4 KEEPING TO THE TERMS
We will only give you the cover that is described in this Policy if you comply with all its terms.
9.5 FRAUDULENT CLAIMS OR MISLEADING INFORMATION
We take a robust approach to fraud prevention in order to keep premium rates down. If any claim under this insurance is fraudulent or is intended to mislead, or if any misleading or fraudulent means are used by you or anyone acting on your behalf to obtain benefit under this insurance, your right to any benefit under this insurance will end, your cover will be cancelled and we will be entitled to recover any benefit paid and costs incurred as a result of any such fraudulent or misleading claim. We may also inform the police.
10. SERVICE AND COMPLAINTS
Every effort is made to provide you with a high standard of service.
COMPLAINTS ABOUT POLICY MATTERS
If you wish to make a complaint about any aspect of this insurance other than a claim, please contact:
The Managing Director, Insurance4carhire, Towergate Insurance, Ellenborough House, Wellington Street, Cheltenham, GL50 1XZ.
COMPLAINTS ABOUT A CLAIM
If you wish to make a complaint about a claims matter, please contact the Claims Administrator. Here are their details:
The Managing Director
Jubilee Service Solutions Limited
Specialist Claims, PO BOX 1192, Doncaster, DN1 9PU
Phone: 0844 854 2059
Fax: 0844 412 4158
The Claim Administrator has internal complaints handling procedures that you can ask to see. If you have any disability that makes communication difficult, please tell the Claim Administrator and they will be pleased to help.
IF YOU REMAIN DISSATISFIED
If the complaint is not resolved it can be referred to Lloyd’s. The contact details are:
Policyholder & Market Assistance
Lloyd’s Market Services
One Lime Street
Tel: 020 7327 5693
Fax 020 7327 5225
Complaints that cannot be resolved by Lloyd’s may be referred to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR. Tel 0845 0801800. Further details will be provided at the appropriate stage of the complaints process.
This complaints procedure does not affect your legal rights.
11. LEGAL AND REGULATORY INFORMATION
LAW AND LEGAL PROCEEDINGS APPLICABLE
Under the laws of the United Kingdom both you and we may choose the law which applies to this contract, to the extent permitted by those laws. Unless you and we agree otherwise, the law which applies to this contract is the law which applies to the part of the United Kingdom in which you live.
Any legal proceedings between you and us in connection with this contract will, therefore, only take place in the courts of the part of the United Kingdom in which you live.
FINANCIAL SERVICES COMPENSATION SCHEME
We are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the Scheme if we are unable to meet our obligations to you under this contract. Further information can be obtained from The Financial Services Compensation Scheme, 7th Floor Lloyds Chambers, Portsoken Street, London, E1 8BN Tel: 020 7892 7300 Website: www.fscs.org.uk”
DATA PROTECTION ACT
Information you supply may be used for the purposes of insurance administration by the Data Controller (as defined under the Act). It may be disclosed to regulatory bodies for the purposes of monitoring and/or enforcing compliance with any regulatory rules/codes. Your information may also be used for crime prevention. For any of these purposes, your information may be transferred to countries that do not have stringent data protection laws. If this is necessary, the Data Controller will seek assurance from that party as to the security surrounding the handling of your information before it proceeds.
On payment of the appropriate fee, you have the right to access and if necessary rectify information held about you (this is known as a Subject Access Request). Please contact our Compliance officer, in writing, to exercise these rights.
In assessing any claims made, we or our associated companies or agents may undertake checks against publicly available information (such as electoral roll, county court judgements, bankruptcy or repossessions). Information may also be shared with other insurers either directly or via those acting for us (such as loss adjusters or claims investigators).
When your insurance ends all information held about you (including information held on systems) will be destroyed or erased after a period of 7 years. The Data Controller’s associated companies and agents will be advised to do the same.
Personal Data held on customers may be used for research and statistical purposes but only with the explicit consent of the customer would this take place.
1. TERMS OF BUSINESS ("TERMS")
In these Terms references to "we" or "us" are to the firm whose details are set out in the covering letter that accompanies these Terms. We recommend that for your own benefit and protection you should read these Terms carefully. These Terms constitute our standard client agreement upon which we intend to rely and will apply to our appointment by you and the services that we will provide. If you do not understand any point please ask for further information.
IN PARTICULAR we draw your attention to CLAUSE 10 and CLAUSE 15 of these Terms which relate to the amount you will receive if you cancel your policy, and the maximum amount we will be liable for in the event of our negligence.
These Terms supersede all proposals, prior discussions and representations (whether oral or written) between us relating to our appointment as your agent in connection with the arranging and administration of your insurance. These Terms constitute an offer by us to act on your behalf in the arranging and administration of your insurance – in the absence of any specific acceptance communicated to us by you (whether verbal or written) you are deemed to accept our offer to act for you on the basis of these Terms by conduct upon your instructing us to arrange, renew or otherwise act for you in connection with insurance matters. If you do not wish to be bound by these Terms then you should not instruct us to arrange, renew or otherwise deal with your insurance needs
2. HOW TO MAKE A CLAIM
If you wish to report a claim or potential claim, please follow the instructions provided with your insurance company’s documentation, quoting your policy number or other reference given to you. Alternatively, if we need to be notified as well as (or instead of) your insurance company, we will have provided you with details (and a telephone number) at the time we sold you your policy and/or in the documentation you received from us.
For some policies, insurers give us authority to act on their behalf in settling claims. In these circumstances, and in recognition of a potential conflict of interest, we will seek your permission for us to deal with such a claim.
3. Who are we regulated by?
The Financial Services Authority ("FSA") is the independent watchdog that regulates financial services. We are authorised and regulated by them and you can check this by visiting the FSA’s website http://www.fsa.gov.uk/register
/home.do or by contacting the FSA on 0845 606 1234. Our permitted activities are recommending insurance policies (and in cases where we do not give a recommendation we will tell you); arranging insurance cover; dealing as agent and assisting with the administration and performance of policies – all in connection with general insurance.
4. ARE WE COVERED BY THE FINANCIAL SERVICES COMPENSATION SCHEME ("FSCS")?
Yes. You may be entitled to compensation from the scheme if we cannot meet our obligations, depending on the circumstances of the claim. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of any claim, without upper limit. Further information about compensation scheme arrangements is available from the FSCS at www.fscs.org.uk
Our objective is to provide a high standard of service to you at all times. However we recognise that things can go wrong occasionally and if this occurs we are committed to resolving matters promptly and fairly. If you wish to register a complaint please contact us:
• in writing, to the Managing Director at the address shown on the letter (or business card) that accompanies this document, or;
• by telephone, using the number shown on the letter document (or business card) that accompanies this document, or;
• in person, at the address shown on the letter (or business card) that accompanies this document.
In all cases please quote your policy number or other reference we have given you. If you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service. Our Complaints Procedure is available upon request.
6. WHICH INSURANCE COMPANIES DO WE USE TO SELECT YOUR INSURANCE?
For the following insurance(s) that you have/will be quoted for, we have/will select your insurance policy/policies from a range of insurers.
For the following insurance(s) that you have/will be quoted for, we offer you a policy/policies from a limited number of selected insurance companies. On request, we will give you a list of these.
For the following insurance(s) that you have/will be quoted for, we only offer you a policy/policies from one insurance company. Excess Reimbursement Insurance
If you choose to pay your insurance by instalments we may use a scheme operated by the insurer who provides cover or a lender from a limited panel we use to provide finance.
7. OUR SERVICES
We are an insurance intermediary acting on your behalf as your agent in arranging your insurance cover. Our services may include advising you on your general insurance needs, arranging insurance cover with insurers to meet your requirements, issuing policy documentation to you in a timely manner and helping you with any ongoing changes you wish to make to your insurance. We may also help you make a claim against your policy. We will endeavour to ensure that the products or services we offer you match your stated requirements. We will seek to identify your insurance needs in reliance upon information which you provide to us. If we cannot match your requirements, we will explain the differences in the product or service that we can offer you. If we cannot match all your requirements, we will seek to provide you with enough information so that you can make an informed decision about your insurance.
We will explain the main features of the products and services that we offer you including details of the insurer, main details of cover and benefits, any unusual restrictions or exclusions, any significant conditions or obligations which you must meet and the period of cover. If you need extra time to consider the products or services we have offered you, we will endeavour to confirm: (a) how long you have to accept the insurance on the terms we have offered, and/or; (b) give you a written quote if you request one, including all the information we believe you need to make an informed decision, and/or; provide you with a sample policy if you ask for one.
8. THE FEES WE CHARGE FOR OUR SERVICES
We will usually charge a fee for our services (typically when you buy or renew a policy) but you will always be informed of any such charge before you purchase a policy. Our fees are non-refundable even if you cancel your policy (see clause 10 for further details). During the term of the policy we may charge up to £25.00 for issuing duplicate documents and up to £50.00 for changes to your policy. We will charge a fee for payments made with a Credit Card. This fee is displayed on the payment screen once you have select the type of card you wish to use. The amount charged depends on the cost of your policy. All fees will be inclusive of any applicable tax that may be levied from time to time.The fees are as follows:
DAILY- ALL POLICIES
• £1.50 total per daily policy
ANNUAL- ALL POLICIES
• £00.00 to £49.00 = £2.00
• £50.00 to £99.00 = £2.50
• £100.00 plus = £3.50
In certain circumstances your insurer may repay part of your insurance premium(s) to us. This can occur where, for example, the risk covered by your policy is reduced or the policy itself is cancelled. Where the amount of the refunded premium is less than £10 (per policy) we will retain such amount, but where a mid-term adjustment or cancellation charge is made we will set it off against such charge. This paragraph does not affect any cancellation/refund rights which you may have (see clause 10).
9. YOUR LEGAL DUTY TO DISCLOSE INFORMATION TO US AND INSURANCE COMPANIES
It is your responsibility to provide complete and accurate information to us and insurers when you take out your insurance policy, throughout the life of the policy and when you renew it.
It is important you ensure that all statements you make on the proposal form, claim form and other documentation are full, frank and accurate.
If you are in any doubt as to the relevance of any information you should disclose it. Please note that if you fail to disclose any material information or change of circumstances to us or your insurer, this could invalidate your insurance cover and could mean that part or all of a claim may not be paid.
We strongly recommend that the information provided is checked thoroughly prior to submission and that you keep a record of all correspondence supplied in relation to the arrangement of your insurance cover.
Please also note that any renewal of insurance will be made in reliance upon the information provided by you in connection with your previous insurance policy – we will assume that such information remains correct unless you tell us otherwise.
10. Cancellation Rights and Mid-Term Adjustments
You will find full details of your cancellation rights, and any related charges which may be levied by your insurer, in the terms and conditions of the insurance policy produced by your insurance company. Cancellation rights vary between insurers. Depending on the type of insurance you will have either 14 or 30 days (the "Cooling Off Period") to cancel your policy with effect from: (a) the day you receive the full terms and conditions of the policy, or; (b) the day the policy is sold - whichever is the later. Please note that a Cooling Off Period does not usually apply to policies of less than one month’s duration, or single-trip travel policies. To exercise your right of cancellation, contact your insurance company or contact us either by telephone or by letter in each case in the manner and within the time limits set out in your policy documentation. If you exercise your right to cancel your policy within the Cooling Off Period you will be charged for the period during which you were temporarily covered, and other charges (such as an administration fee, see clause 8) may be applied by us or the Insurer(s) to cover the costs in arranging the cancelled policy.
YOUR ATTENTION IS SPECIFICALLY DRAWN TO THE FOLLOWING:-
Where you cancel your policy AFTER the expiry of the Cooling Off Period or where you request a mid-term adjustment which reduces the cover provided under the policy, we reserve the right to charge you for our time and costs. This will result in us reducing the amount refunded to you by the FULL amount of the commission and fees we would have received had you not cancelled or amended your policy. The reason for this is that the majority of our costs are incurred either in initially finding and setting up your policy or in the annual renewal process when we might check the ongoing suitability of the cover the policy offers. These costs are recovered through the commission we earn. If you cancel, this does not give us an opportunity to recover the costs we incurred and would often result in us making a loss. However, any charge made will not exceed the cost of the commission and fees we would have earned.
Where you are paying for your insurance by instalments (and an instalment payment is not received by us or the relevant premium finance provider on or before the date when it is due to be paid) you agree that we may on your behalf instruct the insurer to cancel the insurance (or where the first instalment payment has not been received, notify the insurer that the policy has not been taken up) and offset any refund of premium which may be received against any money which you owe to us, the insurer and/or the premium finance provider. In such circumstances you will remain liable for any time on risk or other charge. You will also be responsible for putting in place any alternative insurance.
11. OUR RIGHT TO SET OFF MONIES YOU OWE US
It is our practice to set-off any amounts due to us from you against any monies which we may receive on your behalf (such as claims monies or premium refunds).
12. INFORMATION ON OUR REMUNERATION
Other companies (including members of our group of companies) may act as underwriting agents, intermediaries for insurers or Lloyd’s/London Market placing brokers in connection with your insurance. Where such companies are involved in placing or servicing your business they may charge an administration fee or other payment which will be passed on to you and disclosed separately from the cost of your insurance. Such businesses earn commission in respect of placing such business which is separate from that which we receive.
In addition to commission which is paid to us by insurers we may earn a "profit-share", management or administrative fees and other payments from insurers for efficiently managing business transacted with them. These payments may be calculated by reference to various criteria such as overall annual profitability of the insurance business transacted, taking into account the total amount of claims arising under policies we place with them. "Profit-share" payments are not directly referable to individual policies and consequently it is not possible to calculate such payments on an individual policy basis, meaning that we are unable to disclose to you how much your policy contributed to any "profit-share" payment we might receive. Ordinarily, and if such a "profit-share" payment is received (which is not guaranteed) it represents a small proportion of the normal commission we receive and will be retained by us.
Depending on the services which you have asked us to perform we may earn referral fees from third parties which are incidental to the insurance arranged for you. Such payments may be derived from a number of incidental activities including arranging premium financing, risk management, legal expenses cover and uninsured loss recovery services and will be retained by us. In limited circumstances additional amounts may also be paid to us by third parties where compensation for a personal injury claim is obtained or where a hire car is arranged following an accident. In each case we will retain these payments.
From time to time insurers may make loan facilities available to us on commercially advantageous terms as an incentive for us to efficiently and profitably manage business transacted with them. This may involve (for example) reduced or nil interest rates and extended repayment terms which apply to such loans provided we meet or exceed efficiency and profitability targets set by the insurers in respect of the business we have placed with them.
During the course of our appointment we may hold certain monies on your behalf. This may include premiums to be paid to insurers, commissions derived from your insurance, claims monies and other sums. Interest and investment returns which are derived from such sums whilst temporarily held on your or your insurer’s behalf will belong to and be retained by us in addition to any other remuneration which we may earn in connection with the services which you have asked us to perform.
For each insurance contract, including any subsequent renewal, you have a right to request information regarding any remuneration that we may have received as a result of placing your insurance business.
13. INSURER SOLVENCY
Whilst we will endeavour to place business with insurers who demonstrate an adequate level of financial solvency, and although their regulator requires them to maintain a minimum level of capital, we cannot guarantee the solvency of any insurer. We do not monitor insurer solvency on an ongoing basis, and shall not be liable for losses suffered by you in the event of the insolvency of an insurer.
14. NOTIFICATION OF INCIDENTS
It is essential that you notify us promptly after discovery of all incidents or allegations that may result in a claim against your insurance policy. You must do so whether you believe you are liable or not. Any failure to do so may result in your insurer refusing to accept a claim. Any letter or other communication making allegations which could give rise to a claim which is received by you from any third party must be passed to us immediately, without acknowledgment. Only by providing prompt notification of incidents can your insurance company take steps to protect your interests.
15. LIMITATION/EXCLUSION OF LIABILITY ---- YOUR ATTENTION IS SPECIFICALLY DRAWN TO THIS CLAUSE WHICH LIMITS OR EXCLUDES OUR LIABILITY TO YOU
Our liability for losses suffered by you as a direct consequence of any negligent performance of our services shall be limited in all circumstances to £5,000,000 per claim. In respect of any other claim arising out of our performance or non-performance of the services hereunder our liability shall be limited to the amount of commission and fees which we have received for arranging your insurance cover during the 12 months prior to such claim arising. We shall not be liable to you for any economic loss, loss of profit or loss of business, whether directly or indirectly occurring and which arises out of or in connection with these Terms. Nothing in this paragraph shall exclude or limit our liability for death or personal injury caused by our negligence, or for loss caused by our fraud, wilful misrepresentation or breach of regulatory obligations owed to you. You are welcome to contact us to discuss increasing the limitations of our liability and/or varying the exclusions set out above.
16. YOUR INSURANCE POLICY(IES)
As and when we feel it appropriate we may review your policy and look to enhance and/or extend the cover offered. This could be in response to new product developments or to a change in your circumstances.
17. TERMS OF PAYMENT
In the absence of any alternative terms which we agree with you in writing (such as payment by instalments which we can arrange for you) our payment terms are as follows:
• new policies – full payment of premium and fees on or before the inception date of the policy;
• mid-term adjustments to existing policies – full payment of any additional premium and fees on or before the effective date of the change;
• renewals – full payment of premium and fees prior to the renewal date.
We normally accept payment by debit or credit card. It is imperative that you comply with all payment terms and due dates set out in this paragraph or any such other terms and dates which we agree can be substituted for any of them. In the event that you fail to pay any premium or other fees due then your insurer may cancel your policy from the inception or renewal date and any claims submitted may be rejected.
18. IMPORTANT INFORMATION RELATING TO RENEWAL OF POLICIES
Prior to the expiry of your policy where we will be inviting a renewal we (or your insurance company) will endeavour to send you details of the cost and terms to renew your policy. On occasions your renewal may be offered with a different insurer, however, we will notify you if this is the case in writing before the renewal date. This may happen in response to changes to your products, or the availability of new products, or in response to changes in your circumstances. In order to protect your interests relating to the risks/property you have insured, and in the event that we do not receive your instructions and payment prior to the date of renewal, we reserve the right (but shall have no obligation) to renew your policy and (in the case of direct debit/instalment payments) to continue to accept payment from you unless and until you specifically notify us or your insurance company in writing that you wish to cancel your policy. In circumstances where we have assumed (in the absence of instructions to the contrary) that renewal is required you may be liable to make payment to us and/or your insurance company.
19. HOW WE HOLD YOUR MONEY
Premium(s) and any other monies we may hold on your behalf (for example refund premiums and claim cheques received from an insurer) will be held in Trust until such time as they are remitted by us to your insurance company/to you. This may be a Statutory or Non-Statutory Trust account operated in accordance with FSA regulations. However, some (but not all) of the insurance companies we deal with have agreed to deem any premiums that you pay to us as having been received directly by themselves. This improves your protection against financial loss in the event of our insolvency. Please note that this is not the case for all the insurance companies we deal with and where this added protection does apply it may only extend to premiums, and not to any claim payment, refund or other monies that we may from time to time hold on your behalf. Should such an arrangement be agreed with an insurer(s) we may not hold your funds in Trust because of this added protection.
We will take commission earned from insurance companies in connection with your insurances, from the Statutory or Non-Statutory Trust account, only after we have received your premium (or received it from a third party finance provider on your behalf). This may occur before payment of the premium to the insurance company and will take account of the Terms of Business we have agreed with the insurance companies.
Where we hold money in a non-statutory trust we may use the funds in that account as a short term credit facility to fund another client’s premium before it is received from that other client and/or to pay claims and premium refunds to another client before we receive the same from an insurer. The total funds held in the non-statutory trust account must always comply with the FSA regulations to ensure you are protected from loss.
Occasionally as part of the process of finding a policy that suits your requirements, we may pass your premium to another insurance intermediary who will also be required to hold your money in Trust until the premium is deemed to have been received by the relevant insurer. Between receiving any money from you and us passing it on to insurers (and vice versa), we may remove it from the Trust account in which it is held to another account in order to earn interest or other investment income from it. In such an event the account in which it is placed will be set-up with the same Trust protection as the account from which it is removed. To improve the efficiency of our business we may wish to transfer your policy between companies within the Towergate Partnership group of companies. In such circumstances we may transfer any money we hold on your behalf to a new bank account with the same trust protections as the existing account to ensure that the protection afforded to your money remains in place at all times. We will retain any interest or income accrued.
By accepting these terms you consent to the way we will hold your premium (and/or other insurance related money) in accordance with this paragraph.
20. CONFIDENTIALITY AND DATA PROTECTION
All information about you of a sensitive or personal nature will be treated as private and confidential. We will however use and disclose the information we have about you in the course of arranging, placing and administering your insurance. This may involve passing information about you to insurers, other intermediaries, risk management assessors, uninsured loss recovery agencies and other third parties involved (directly or indirectly) in your insurance. We may also pass information about you to credit reference agencies and premium finance providers in connection with the assessment of your financial standing generally and, in particular, where you have requested a premium instalment plan – this may include details of your payment record with us. We may also pass information about you to other companies which are in or are associated with our group. We or they may also use the information we hold about you to provide you with information on other products and services we or they can offer and which we or they feel may be of interest to you. If you do not wish to receive marketing information from us or them, or for us to disclose information about you to other parties for marketing purposes, please contact us immediately. In the interests of security and to improve our service, telephone calls may be monitored and/or recorded.
21. NO WAIVER/OUR RIGHT TO ASSIGN
Any delay on our part in enforcing any of the rights under these Terms, either in whole or in part, shall not be deemed to be a waiver of such right. We may freely assign or delegate all or any part of these Terms and/or the services to any third party. In the event that we assign or delegate all, or any part, of these Terms to a third party your rights under these Terms will not be adversely affected.
22. GOVERNING LAW
These Terms and conditions are governed by English Law and we both agree to submit to the non-exclusive jurisdiction of the English courts.