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Terms Of Business
Our Status and the Services Provided
E Insurance Services Ltd are an internet based insurance broker. For our eTradesman product we only offer insurance from Norwich Union Insurance Limited. Our services will include advice and making a reccomendation after we have assesed your needs, arranging insurance cover and helping you with ongoing changes.
Disclosure of Information
It is your responsibility to provide complete and accurate information to your Insurers when you take out your insurance policy, throughout the lifetime of the policy and when you renew your insurance. Any information, which might influence your Insurer to accept, amend or decline your insurance proposal or renewal, must be disclosed. If you are unsure about disclosing any matter please contact us for guidance. Failure to disclose any material information to your Insurers or any inaccuracies in the information given could invalidate your insurance cover and mean that part or all of your claim may not be paid. Any advice we offer will be based on the details you provide. Always keep copies of correspondence sent or received concerning your insurance.
Please note that under the Rehabilitation of Offenders Act 1974 you are not required to disclose convictions regarded as “spent”.
Statement of Facts
When a policy is taken you are able to view your statement of fact from your online account which shows the information you have supplied. If you amend any answers, or add additional information a copy of the changes is available to view or download from your account. Please read this carefully as the answers detailed are your responsibility. Sample policy wordings are available online at etradesmaninsurance.co.uk
Awareness of Policy Terms
You should read your policy carefully. The document, schedule and any certificate of insurance are the basis of the cover you have purchased. Please make sure that you understand them and are able to follow their requirements. Breach of any terms, conditions or warranties may enable your Insurer to terminate your policy or repudiate a claim under your policy
Data Protection Act
Any information we hold about you, whether on our computer system or on paper files will be treated as private and confidential. We will use and disclose the information we have in the normal course of administering or arranging cover on our insurance policy. We may also, on occasion, use the details we hold about you within our associated companies or pass them to Third Parties so that we may tell you of new products and services, which we think may interest you by telephone, e-mail or post. If you do not wish to receive any marketing information please write to us and we will mark our records accordingly. Under the Data Protection Act 1998 you have rights of access to any personal information we hold about you in our records. If you have any queries in respect of confidentiality and data protection please contact us.
Service Standards
It is our intention to provide you with a high level of service at all times. In the unlikely event that you should have cause for complaint, you can email us at complaints@etradesmaninsurance.co.uk, alternatively you can write to the Operations Manager at the address shown above. We will acknowledge receipt of your complaint in writing, within 5 working days and provide you with a full written response within 20 working days, or explain the current position and provide you with a timescale for a full response. We will endeavour to provide you with a final response within 8 weeks.
If you remain dissatisfied with our response to your complaint you may be able to refer the matter to the Financial Ombudsman’s Service. To use their service you must be eligible and your complaint must be sent to them within 6 months of our final response letter. Full details of our complaints handling procedures are available upon request.
Claims
We have no authority to handle claims on behalf of Insurers. In the event of an accident occurring, which may give rise to a claim under your policy, you should notify your Insurer direct as soon as possible using the contact details in your policy schedule/document.
If there is any conflict of interest, we will only handle a claim on your behalf after we have disclosed to you all information you require, to enable you to decide whether to give your informed consent, and that you have given that consent. We will forward any payments we receive from Insurers in respect of any claim, without delay.
Administrative Charges
In addition to the premiums charged by Insurers, we make charges to cover the administration of your Insurance:
- Mid-Term Adjustments £10.00
- Refund of less than £10.00 will not be allowed
- Cancellations £10.00 (Also see below)
We reserve the right to amend the level of charges at any time.
You should also note that we will not be responsible for any fines or costs that you incur resulting from late delivery of, or incorrect information on, any documentation relating to your insurance.
Remuneration
Our remuneration may be as a fee and/or as brokerage which is a percentage of the insurance premium paid by you and allowed by the insurer with whom the insurance is placed. Any fee charged will be advised to you before conclusion of the contract. Brokerage and fees are earned for the policy period and we will be entitled to retain such amounts in full, in respect of policies placed by us. If requested, we will in form commercial customers of the brokerage that we earn for arranging their insurance. (Note: Commercial customers has the same meaning as defined by the Financial Services Authority.)
Cancellation of Insurance Policies
(1) Where cancellation rights exist
If you are an individual or sole trader (including a partnership in England and Wales) buying or renewing a policy which provides cover for you in both a private and business capacity, you have the right to cancel your policy during a period of 14 days either from the day of purchase of the contract or the day on which you receive your policy documentation, whichever the later. When renewing an existing policy, the period applies from the date you renew the policy or the day on which you receive your policy documentation, whichever the later. If you exercise this right and the cover has not yet commenced, you will be entitled to a full refund of the premium paid. If the insurance has commenced and provided that you have not made a claim, you will be entitled to a refund of the premium paid, subject to a deduction for the time that you have been on cover (calculated as a proportion of the annual premium) and a deduction of a proportion of the arrangement charge sufficient to cover our costs.
(2) When cancellation rights do not exist
Unless otherwise stated, insurance policies are arranged for a period of 12 months and you are required to pay the full amount stated. If you cancel the insurance before expiry date, and there have been no claims, you may be charged short period rates in accordance with the scale of charges detailed by Insurers terms and conditions, shown in your policy document. We do not refund commission or charges as this was earned for arranging the policy. Policyholders may cancel annual policies on return of the policy and/or Certificate of Insurance. The cost of add-on products that you purchase will be non-refundable. If there are any unpaid monies when the policy is cancelled, we may withhold documents such as any no claims bonus to which you are entitled, until full payment is made. If you paid the premium by instalments the credit charges made by the premium finance provider will not be refunded.
Payment of Premiums and Refunds
Unless otherwise agreed and formalised by a premium instalment plan, all premiums are due on the day cover is arranged, the date the policy is due for renewal or the date of any mid-term adjustment.
If we arrange an instalment plan for you, an administration charge will apply as follows:
- £20.00 for the 10 monthly payment option is selected
We will pay the premium to the Insurer and you will be responsible for paying the instalments as they fall due. In the event of any due payment not being made, you will be sent a 7- day cancellation letter by recorded delivery. If the monies are not received in this timescale the policy will be cancelled and all cover will cease. Any refund provided by the Insurer, after deduction of the charges shown above, will be used against any outstanding balance on your instalment plan.
We will not accept responsibility for cancellation of insurance by Insurers due to late or non-payment of premium by customers. Instalment deposits, legal expenses and breakdown or associated policies are non-refundable. All refunded premiums will be made by cheque, payable to the policyholder.
The eTradesman instalment plan will be financed by Conister Trust Ltd which is arranged and administered on their behalf by Panacea Finance Ltd. They can be contacted by writing to:Panacea Finance Ltd
MMT Centre
Severn Bridge
Aust
Bristol
BS35 4BL
All refunded premiums will be made by cheque, payable to the policyholder.
Click Here for more information about Panacea Finance and the Direct Debit Process.
Quotations
When a quotation is provided the premium is only valid for the period advised to you. Quotations provided by the company do not constitute offers. All proposals and requests for insurance are subject to acceptance by Insurers, premiums and terms are quoted subject to confirmation and agreement by Insurers. Your Insurer has the right to decline your risk, increase the premium or restrict the policy if any errors or omissions are found on the statement of fact.
Risk Transfer
Premiums that we collect from you are held in an insurance broking bank account specifically for the purpose of holding client money. By virtue of agreements held with insurers, we collect premiums as agents of the insurer. Therefore, once we have collected the premium from you, under the terms of our agreements with insurers, those premiums are treated as having been paid to insurer. We will remit premiums to insurers in accordance with the terms of our agreements with insurers.
Client Money Segregation (Statutory or Non-Statutory)
Premiums that we collect from you will be segregated into and held in Non-Statutory Insurance Broking Trust Bank Account. We will hold the money as trustee for the insurer. The Client Money Bank Account is set up as a trust governed by our agreements with our insurers. This means that once client money is segregated into the trust account it falls into our legal ownership but remains for the beneficial ownership of insurers. If we become insolvent, the terms of the trust dictate that insurers will have a prior claim on the money in the account according to their respective interests. Where insurers permit use of a Non-Statutory Trust we may agree to extend credit to other customers using money from the Client Money Bank Account. We will have in place and maintain, systems and controls to ensure that we are able to monitor and manage client money transactions and any credit risk arising from the operation of this trust arrangement.
Earning Interest on Customer Premiums
We hold premiums that you pay us in a Client Money Bank Account. Under Financial Services Authority (FSA) Regulations we have to inform you that we may earn interest from money held in our Client Money Bank Account, which may exceed £20.00 for any one transaction that you make with us. Interest earned will not be held for the benefit of customers. By accepting these Terms of Business, you are giving your consent for us to act in the manner described above.
Customer Money Passed to Another Person
In accordance with FSA Regulations we have to inform you that in managing and/or arranging your insurance requirements, we may transfer money that you have paid us in payment of an insurance premium, to another insurance intermediary. By accepting these Terms of Business, you are giving your consent for us to act in the manner described above.
Customer Money Passed to Another Person Outside the UK
In managing and/or arranging your insurance requirements, we may transfer money that you have paid us in payment of an insurance premium, to another insurance intermediary operating outside of the United Kingdom. Unless you notify us that you do not wish your premiums to be transferred in the manner outlined, by accepting these Terms of Business you are giving your consent for us to act in the manner described. You should note that the legal and regulatory regime applying to the insurance intermediary may differ from that in the United Kingdom and consequently, if the intermediary fails, the premium may be treated in a different manner from that which would apply if the premium was held by an insurance intermediary in the United Kingdom.
Segregation of Investments
We hold premiums that you pay to us in a Client Money Bank Account. We may invest these premiums in a range of permitted designated investments as prescribed by FSA Regulations. In the event that there is any shortfall in our client money resource attributable to falls in the market value of any of these permitted designated investments, we shall make provision for, and bear the cost of, any such shortfall. By accepting these Terms of Business, you are giving your consent for us to act in the manner described above.
Other Taxes or Costs
Please note that there is a possibility that other taxes and/or costs may exist in respect of products and services offered by us, which are not paid through or imposed by us.
Governing Law
This agreement shall be governed by the laws of England and Wales and the parties agree herewith that any dispute arising out of it shall be subject to the exclusive jurisdiction of the English Courts.
Variations
No variations to these Terms are held to be valid unless in writing and signed by an authorised officer of the Company. The Company’s staff are not authorised to agree to any variation of these Terms but they may be varied by the Company from time to time.
Statutory Rights
Agreement to our Terms of Business does not affect your normal statutory rights.
