Our Terms of Business and Customer Care Policy
Authorisation:
P & W Insurance Group LLP ('P & W') is authorised and regulated by the Financial Services Authority (FSA). Our FSA Registration Number is 459603. Our permitted business is advising, arrranging, dealing as agent and assisting in the administration and performance of general insurance contracts. You may check this if you wish on the FSA's register by contacting the FSA on 0845 606 1234 or visiting the FSA website, http://www.fsa.gov.uk/register/.
Our Service:
P & W's role as an insurance broker is to advise you and make a suitable recommendation after we have assessed your insurance requirements. In situations where we are able to arrange insurance for you but do not offer advice we shall confirm the position to you in writing. We will not in any circumstances act as an insurer nor guarantee or warrant the solvency of any insurer.
In respect of Personal insurances: For motor insurance, household and personal property insurance products we select from an extensive range of insurers (known as ‘fair analysis'); for travel insurance products we use only one insurer. The same applies to legal protection insurance.
In respect of Commercial insurances: We normally select commercial insurance products from a range of insurers using fair analysis although for certain products we may only deal with a single insurer or select from a limited number of insurers.
Complaints and Compensation:
We aim to treat our clients fairly at all times and to provide a high level of service. However, if you are not satisfied in any way then please contact any member of our staff and/or our Complaints Officer at P & W Insurance Group LLP, James House, 153 Grosvenor Road, Aldershot, Hampshire, GU11 3EF; by telephone on 01252 343822; by fax on 01252 342379; via e-mail to insurance@pwins.net. Wherever possible, we will try to resolve the issue there and then although if this is not possible we will attempt to deal with the matter efficiently and within prescribed procedures and timescales as laid down by the FSA. You will be made aware of these procedures and timescales although details can be requested at any time irrespective of whether or not you wish to make a complaint.
If you are still not satisfied, you may refer the matter to the Financial Ombudsman Service (this facility is not open to commercial customers with a group annual turnover of £1m or more, or trustees with a net asset value of £1m or more).
We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of insurance, size of the business (if a commercial customer) and the circumstances of the claim. Further information about the scheme is available from the FSCS.
Payment for Our Services:
We normally receive commission from the insurers or product providers based on a percentage of the policy premium although some policies do not attract commission and in those cases our earnings will be derived from a fee added to the premium. In certain instances a combination of both commission and fees may apply.
We may make additional charges for our services although all charges and fees will be clearly highlighted to you in advance. As such, you will receive a quotation which will tell you the total price to be paid, showing any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded. We may also make a charge in respect of an existing policy when mid-term adjustments or policy amendments are required. Again, you will be fully informed in advance of any proposed charges.
In common with many brokers, in relation to a cancelled insurance policy, we reserve the right to charge a fee equivalent to the commission that would have been earned by us if the policy had remained in force for the full policy term. Any such fee would be highlighted to you and would either be separately invoiced to you or deducted from any return premium.
We accept payment of premiums by cheque, electronic transfer and by most credit or debit cards (payment options using third parties are also available). You will be responsible for prompt payment of the premium to enable us to make the necessary payments to insurers on your behalf. This will normally mean that we will require full settlement of the premium on or before the commencement of cover (or as otherwise stated under terms of credit, or in the invoice or statement issued to you). Please note that we have no obligation to fund any premiums on your behalf and have no responsibility for any loss that you may suffer as a result of the policy being cancelled for non-payment of premiums or for any other reason.
It is therefore important to always ensure that you have sufficient available funds in respect of your insurance premium. We would point out that if your premium payment is disallowed by your bank or is unable to be presented for payment at any time then we will make a standard administrative charge to you of £25 on each occasion that this occurs.
Handling Client Money and/or Insurer Money:
In respect of certain insurance policies we act as agent for the insurer and bank money in line with their instructions. In respect of all other policies we hold client money collected for onward transmission to the insurer together with return premiums and credits etc in a Client Bank Account, under a Non-Statutory Trust which has been set up in accordance with the strict rules as laid down by the FSA. Upon request you are immediately entitled to see a copy of the relevant Trust Deed and you should note that it allows us to utilise your premium to settle premiums due under other policies including those payable by other clients and payment of your premium will constitute your informed consent to holding your money in this way and to the general terms as mentioned herein. In arranging your insurance we may employ the services of other intermediaries who are regulated by the FSA and your premium may be passed to them for onward payment to insurers. We will retain any interest or investment returns derived from holding your money.
Commencement of Cover:
For certain types of insurance policy we are able to effect immediate insurance cover on your behalf as soon as we have your instructions to proceed whilst for other types of policy we may have to obtain formal affirmation from the insurance underwriters before insurance cover can be assumed. As such, you should never suppose that or act as if the relevant policy cover is in force until we have supplied our formal confirmation to you that this is the case.
Cancellation of Insurance:
You should make any request to cancel a policy to us in writing. Any relevant certificate of insurance should be returned to us with your request or where required to the insurer instead. In the event of cancellation please note that the terms of your policy may allow the insurer to either retain the premium payable in full (or demand and retain the entire premium should it be partly or fully outstanding at that time) or charge a short period premium and/or make a charge in the event of cancellation irrespective of when the policy is cancelled. Charges on cancellation for our services will apply in accordance with the terms mentioned above under Payment for Our Services unless we receive your instructions to cancel a policy within 14 days of its inception in which case we will not charge any fees or brokerage. However, should we have incurred any specific costs (such as bank transaction charges etc) then we reserve the right to re-charge them to you in which case a full breakdown of the relevant costs would be supplied.
Conflict of Interest:
Occasions may arise where P & W or one of our clients or product providers will 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 in order to ensure fair treatment.
Termination:
You may terminate our authority to act on your behalf at any time by giving us written notice. Termination will take effect immediately upon receipt of your notice or as otherwise agreed between us. Termination is without prejudice to any transactions already initiated which will be completed according to these terms of business unless otherwise agreed between us in writing. You will be liable to pay for any transactions or adjustments effective prior to termination and we will be entitled to retain any and all fees or brokerage payable in relation to policies placed by us prior to the date of termination.
Your Responsibilities:
You are responsible for providing the complete and accurate information, which we and/or insurers require in connection with any proposal for insurance cover. This is particularly important before taking out a policy and at renewal, but it also applies throughout the life of a policy. If you fail to disclose any material fact or other information relevant to the insurance this could invalidate the policy and mean that any claims may not be paid. You should check all details on any proposal form or Statement of Facts and pay particular attention to any declaration you may be asked to sign.
You should read all insurance documents issued to you to ensure that there are no inaccuracies and that you are aware of the cover, limits and other terms which apply as these will form the legal basis of the insurance contract. Particular attention should be paid to any warranties and conditions as failure to comply with them could invalidate your policy.
You should take note of the required procedures in the event of a claim, which will be stated in the policy documentation. Generally, insurers require immediate notification of a claim or circumstances that might lead to a claim and failure to adhere to the notification requirements as set out in the policy document or related paperwork may entitle insurers to deny your claim.
You should inform us immediately of any changes in circumstances that may affect the services provided by us or the cover provided by your policy. If you are unsure about any matter whatsoever then please contact us for guidance.
Confidentiality of Personal Data:
All personal information is treated by us as confidential and is processed in accordance with the relevant legislation. We will not use or disclose personal information without your consent, other than in the normal course of arranging and administering your insurances, except where we are compelled by law to disclose such information (including by regulators or law enforcement agencies). In such instances 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. As is the industry norm, please note that insurers may from time to time pass on policyholder details to the Claims and Underwriting Exchange Register and/or the Motor Insurance Anti-Fraud Register. Unless you advise us to the contrary please note that some insurers will automatically take up personal credit checks before deciding whether or not to underwrite an insurance policy and/or decide what level of premium is to be offered.
Handling Arrangements:
We will employ due care and skill if we act on your behalf in respect of a claim.
Force Majeure:
We will not be liable to you for any delay or failure to fulfil our obligations caused by circumstances outside our reasonable control.
Basis of Arrangement:
All wordings and arrangements are deemed to be subject to and in accordance with English Law.
Website:
Aside from our 'Terms of Business and Customer Care Policy' above the other content of this website is intended to provide general guidance and you should not act upon any information contained therein without seeking the appropriate formal confirmations on the particular facts at issue.
Although every effort has been made to ensure that the content of this website is up to date and accurate, errors may occur and as such we do not guarantee that information contained is complete or free of errors or viruses. We accept no liability for any loss or damage whatsoever arising as a result of any decision or action taken or refrained from as a result of information contained on this website.
The website may include links to third party websites that are controlled and maintained by others. We are not responsible for the content or availability of such sites and any link to a third party's website should not be construed as an endorsement by us of that third party or of its products or services.
All photographs, images and logos are owned by and are the copyright of P & W Insurance Group LLP. Use or replication in full or part of any kind is not permitted without first obtaining their written permission to do so.