Terms of Insurance Business

The purpose of the following information is to set out the basis of the way in which we conduct our business both here in the UK and with our clients throughout the world.

Our Service
RA Insurance Brokers Limited of 11th Floor, AMP House, Dingwall Road, Croydon, Surrey CR0 2LX is authorised and regulated by the Financial Services Authority. We are permitted to arrange, advise on, deal as an agent of insurers and assist in claims handling with respect to non-investment insurance policies. You can check these details on the FSA’s Register by visiting the FSA’s website http://www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234. We act on your behalf in arranging your insurance based on a fair analysis of the market for all products except Motor Trade.

Documentation
We will confirm details of all covers effected in writing including the identity of the Insurer. Our aim is to provide all correspondence in a simple and understandable format. In the event of any remaining areas of uncertainty, please contact us. Our staff are always happy to clarify the cover provided. We want to make it easy for you to do business with us. Insurers are encouraged to produce their documentation promptly.

Your duty of disclosure
Your insurance is based upon the information provided to the insurance company and you must ensure that all such information is complete and accurate, and that any facts that may influence the insurers decision to accept and pay a valid claim are disclosed. Failure to disclose material information may invalidate your insurance cover and could mean that part, or all, of a claim may not be paid. If you are in any doubt about whether information is material, you should disclose it. You are reminded that it is an offence under the Road Traffic Act to make any false statements or withhold any relevant information to obtain an Insurance Certificate. You are also advised to keep copies of any correspondence you send to us or direct to your insurer.

Our Remuneration
We receive remuneration for our services by receiving a percentage of the insurance premium by way of commission. Alternatively an agreed administration fee may be charged or in some instances a combination of a fee and commission.
Commission and Fees are earned for the policy period and we will be entitled to retain all fees and commission in respect of the full policy period in relation to policies placed by us.

How to cancel
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, please refer to your policy summary or your policy document for further details. If you cancel you may receive a pro rata refund of premium from the insurer. Commission and Fees are earned for the policy period and we will be entitled to retain all fees and commission in respect of the full policy period in relation to policies placed by us. In the event of cancellation therefore, any refund due may not entirely proportionate to the premium paid.

Premiums and Financial Aspect
In order to be able to offer credit facilities, we are registered under the Consumer Credit Act and our Licence Number is 430339. We normally accept payment by guaranteed cheque but not by credit card although some insurance companies will accept payment by this method directly. You may be able to spread your payments through insurers instalment schemes or a credit scheme that we have arranged with a third party finance provider. We will give you full information about your payment options when we discuss your insurance in detail.

Premiums must be provided in cleared funds in accordance with the amounts and payment dates specified to you. Failure to meet the payment date may lead to insurers cancelling your policy. Where insurers have specified that the premium must be received by a certain date, failure to comply can result in the automatic termination of your insurance contract.

Complaints
It is our intention to provide a high level of service at all times. However if you have reason to make a complaint about our service you should contact The Complaints Officer at the above address or telephone us on 020 8686 2000. You may be entitled to subsequently refer it to the Financial Ombudsman Service. Further information is available at http://www.financial-ombudsman.org.uk or telephone 0845 080 1800.

How to claim
Please refer to your policy summary or your policy document if you wish to notify a claim. You should contact us or the insurer direct as soon as possible using the contact details provided. R A Insurance Brokers telephone number is 020 8686- 2000.

Protecting your information
All personal information about you will be treated as private and confidential (even when you are no longer a customer), except where the disclosure is made at your request or with your consent in relation to administering your insurance, and except where law requires us. The FSA may ask us to provide it with access to our customer records in order that it may carry out a review of our activities.

Some or all of the information you supply to us in connection with your insurance proposal may be passed to an insurance or any other company for underwriting, claims or premium collection purposes. Under the Data Protection Act 1998 you have a right of access to see personal information about you that is held in our records, whether electronically or manually. If you have any queries, please write to the managing director at the above address.

Protecting your money
Prior to your premium being forwarded to the insurer, and for your protection, we either hold your money as an agent of the insurer (in which case your policy is treated as being paid for), or we hold it in a client bank account on trust for you. We may extend credit to other customers from this account and we may need to transfer your money to another intermediary in some cases. However your money will be protected at all times because of our requirements under the FSA rules. We also reserve the right to retain interest earned on this account. By accepting these Terms of Insurance Business you are giving your consent for us to operate in this way.

Payment to Third Parties
We may transfer client money to another person, such as another broker or settlement agent, for the purpose of effecting a transaction on your behalf through that person. This may include brokers and settlement agents outside the UK. The legal and regulatory regime applying to a broker or settlement agent outside the UK may be different from that of the UK and, in the event of a failure of the broker or settlement agent, this money may be treated in a different manner from that which would apply if money were held by a broker or settlement agent in the UK. You may notify us if you do not wish your money to be passed to a person in a particular jurisdiction.

Renewals
If you would like a new policy booklet at renewal, please contact us.

Compensation arrangements
We are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS at http://www.fscs.org.uk/. The FSCS can also be contacted by telephone on 020 7892 7300.

Law and Jurisdiction
These terms of business shall be governed by and construed in accordance with English law. In relation to any legal action or proceedings arising out of or in connection with these terms of business we both irrevocably submit to the non-exclusive jurisdiction of the English courts.

Introductions
We may enter into agreements for introduction of business to the company. These agreements provide for the remuneration of such persons.

Other earnings
We may earn income in a number of different ways. This may be in the form of an administrative expense. Some insurers may also provide efficiency fees or production over-riders periodically to reflect the benefit of receiving large amounts of business from a single source that has been handled promptly and efficiently. Occasionally certain insurers may wish to reflect the profitability of our account with them by way of payment to us.

Fees and charges
Please refer to our tariff of administration charges for fees payable under these Terms of Insurance Business. These will apply if you instruct us to carry out a mid-term adjustment, cancellation, etc. on your behalf.

Tariff Of Administration Charges:

The specific charge and purpose of any additional charges will always be advised to you in advance.