The Financial Services Authority (FSA)

The FSA is the independent watchdog that regulates financial services. It requires us to give you this document. Please use this information to decide if our services are right for you.

Our Service

We are an Independent Insurance Intermediary. We act on your behalf in arranging your insurance from our available market. Our service includes: arranging your insurance cover with Insurers to meet your requirements, and helping you with any changes you have to make to your insurance during the policy period. We also offer a service to assist you with any claim you need to make. In some circumstances you will deal directly with the Insurer for ongoing policy administration.

Who regulates us?

We are authorised and regulated by the FSA. Our FSA number is 453372. Our permitted business is advising on and arranging general insurance contracts. You can check this on the FSA’s Register by visiting the FSA’s website: www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

Information on Costs

In addition to the premiums charged by insurers, we will charge a professional fee to cover the placing and ongoing handling of your insurance. We also reserve the right to make charges for the arrangement, amendment and cancellation of any insurance policy. We may make a non-refundable charge of up to £15 for the issue of any policy, mid term adjustment or renewal. If the policy is to be cancelled after inception the terms of the policy allow the insurers to retain the premium in full and we will be able to retain commission received together with all fees charged by us for services provided.

You will receive a quotation, which will tell you about any other fees relating to the insurance policy. Prior to the conclusion of the insurance contract, or upon renewal, we will remind you of your right to be advised of the level of commission which we receive. You are entitled at any time to request information regarding any commission that we may have received as a result of placing your insurance business.

Payment of Premiums and Client Money

By debit or credit cards with the exception of Amex. We will make a charge of 2% for credit and debit card transactions. This may increase at any time in the future. We require full payment of the premiums at inception, renewal or at the time of a mid term adjustment unless special terms have been agreed in writing. (No monies will be debited from your account until your insurance has been accepted) As an alternative method we can offer a finance agreement for payment of premium. The APR will be at fixed rate.

Should you not comply with those terms and we do not specifically agree to a variation, we reserve the right to cancel the policy giving not less than seven days notice by recorded delivery to the last known address.

FSA rules require that all client money received from clients is segregated so as to provide safety for the client in the event that we cannot meet our obligations. As this money cannot be treated by any creditor of the firm as being our money, for this purpose, we operate a Statutory Trust bank account. 

Disclosure of Information and Your Responsibilities

It is your responsibility, as a matter of Law, to provide complete and accurate information when you take out a policy, throughout the life of the policy, when you renew the policy and if you make a claim.

You must complete and return the signed declaration to the address as shown within 7 days. Acceptance of insurance is subject to agreement by the underwriter and payment in full.

All Statements included in proposal forms, statement of fact, claims forms and other documents must be full and accurate. Any information which might influence your Insurer as to the acceptability of your proposal for insurance or the renewal must be disclosed at the earliest opportunity and certainly at each renewal.

If you fail to disclose any material information then your insurance may not cover you completely or invalidate your insurance . If you are unsure about any matter you should contact us for assistance and you are advised to keep copies of all correspondence you send to us for your own protection.

Claims  

As part of our service we can assist you with any claim you need to make. In the event of an incident that may give rise to a claim on your policy, you must notify us promptly. We will advise you of your Insurers procedure at the time and either issue a claim form and pass details to the Insurers or direct you to the Insurers own Help Line. You must not admit liability nor agree to any course of action until confirmation of such action from the insurer is received

Claims and Underwriting Exchange register and Motor Insurance Anti Fraud Register

Insurers pass information to the Claims and Underwriting exchange register operated by Database Services Ltd and the Motor Insurance Anti fraud Register compiled by The Association of British Insurers. The objective is to check information provided and to prevent fraudulent claims. Other insurance related databases may also be added in the future.

Complaints  

We have a real commitment to provide you with a high level of customer service at all times.

If you wish to register a complaint, we have a formal complaints procedure. Please contact us at:

Bond Insurance Services Ltd. Salisbury House, 81 High Street, Potters Bar, Herts., EN6 5AS

or by telephone – Telephone 01707 291200

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (except in the case of commercial customers with a group annual turnover of £1m or more, charity with an annual income of £1m or more or trustees of a trust with a net asset value of £1m or more).

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. 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.

Further information about compensation scheme arrangements is available from the FSCS.

Confidentiality  

The information you supply will be kept confidential to the Company and its associated and/or subsidiary companies and the Insurer with whom it deals except or unless we are required by Law to make any disclosure. We may use information we hold about you to provide information to you about other products and services that we feel may be appropriate to you. Under the Data Protection Act 1998 you have the right to see personal information about you that we hold in our records. If you have any queries, please write to us at the above address.

Applicable Law  

This Terms of Business document is subject to English Law.

Please do not hesitate to contact us if you have any queries with regards to any points mentioned in our Terms of Business.

Bond Insurance Services Limited
Salisbury House, 81 High Street
Potters Bar, Hertfordshire, EN6 5AS
Telephone: 01707 291200
Fax: 01707 291202

www.bond-insurance.co.uk

e-mail:
enquries@bond-insurance.co.uk

We are authorised and regulated by the FSA. Our FSA number is 453372. Our permitted business is advising on and arranging general insurance contracts. You can check this on the FSA’s Register by visiting the FSA’s website: www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.