TERMS OF BUSINESS/CUSTOMER CHARTER – Advised Sale
- Regulation. We, Highworth Insurance Ltd , Suite 12, Branksome Park House, Bourne Valley Rd, Poole BH12 1ED are authorised and regulated by the Financial Conduct Authority (FCA) to sell general insurance products. Our FCA register number is 578639 and you can check this on the FCA’s register by visiting the FCA’s website www.fsa.gov.uk/register/firmSearchForm.do or by contacting the FCA on 0800 111 6768. The FCA is the independent watchdog that regulates financial services.
- Our service to you. We will advise and make a recommendation for you after we have assessed your needs.
- How we made our selection. Our search for a product to meet your requirements has involved a limited number of insurers. We would be happy to discuss with you the scope and outcome of our search. You can ask us, at any time, for a list of insurers we use.
- Disclosure of information. It is important that you understand that any information, statements or answers made by you to us, or your insurer, are your responsibility and must be correct. You have a duty to take reasonable care not to make a misrepresentation when answering any questions from us or your insurer. You should answer all questions honestly and to the best of your knowledge. If you do not answer questions correctly then your policy may be cancelled or any claim made may be rejected or not fully paid. 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. The disclosure of information not only applies at commencement and renewal of your policy, but also at any time during the period of insurance.
- Awareness of 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.
- Charges and Fees. We reserve the right to make charges, in addition to any insurance premiums, for the arranging, amending, renewing and cancelling of any policy of insurance. Details of charges made will be declared in all correspondence with you. These charges are in addition to any charges that may be made by the insurer as set out in their Key Facts booklet.
Specifically we may make an administration charge of up to £50 for any changes you make to your policy mid term or cancellation of the policy.
If you cancel your policy within 14 days of receiving your policy documents and cover has not started then a full refund will be made of premiums paid. If cover has started you will only be charged for the time on cover, unless a claim has been made in which case no refund will be due. Beyond the initial 14 day cooling off period an administration fee of up to £50 will be applied.
The full policy wording can be e-mailed to you for free if requested. To assist the environment we do not print and post this document as a matter of course. If you require a printed copy of the full policy wording then a £5 administration fee will be charged.
We reserve the right to charge an administration fee of up to £50 for setting up a new policy or renewing an existing policy. In addition we will charge a fee of up to 2% of the annual premium for payments made by credit card. No charge will be made for payments by debit card or annual direct debit. If a policy is cancelled within the 14 day cooling off period then any administration and payment fees will be refunded in full. Outside of the cooling off period no refund will be made.
- Commission Disclosure – Commercial customers only. You are entitled at any time to request information regarding any commission which we may have received as a result of placing your insurance business.
- Client money – general. The FSA rules are designed to protect you in the event that an insurance intermediary fails or is unable to transfer:a: any premium money it has received from you to the insurer; orb: any claims or return premium monies that it has received from the insurer to you.We are governed by strict rules pertaining to client money, set down by the FSA. Where we hold monies in a client bank account we may earn interest on monies held, which will be retained by us.We act as agents for the insurer for the collection of premiums and refunds of premiums. This means that premiums are treated as being received by the insurer when received in our bank account and that any premium refund is treated as received by you when it is actually paid over to you. There are occasions where such transactions are restricted (for example, to receiving premiums only) and we will tell you if this is the case.
- Customer protection information. 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 contact our Commercial and Operations Director, Toby Green either in writing at Suite 12, Branksome Park House, Bourne Valley Rd, Poole BH12 1ED or by phone on 01202 937412, who will take details of your concerns.We will acknowledge in writing, advising you of who is dealing with your concerns and attempt to address your concerns within five working days. If our investigations take longer, we will keep you informed of progress and issue a full final response within eight weeks. If we cannot satisfy your complaint you may be entitled to refer it to the Financial Ombudsman Service.
- Financial Services Compensation Scheme (FSCS). We are covered by the FSCS. You may be entitled to compensation from the scheme if we can not meet our obligations. This depends on the type of business and the circumstances of the claim. Insurance advising and arranging is covered for 90% of the claim, without any upper limit.
- Payment by instalments. If you pay a premium by instalments and an instalment is not paid on time we may cancel your insurance. We will try to contact you by telephone or e-mail before this action is taken. There may well be outstanding monies owed to Highworth Insurance which we will seek to recover from you.
- Cooling off period (consumers). We will give you enough information and help so you can make an informed decision before you make a final commitment to buy your insurance policy. However you will have fourteen (thirty for protection policies) days to change your mind and cancel the insurance contract from the date you receive the policy documentation.
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