Terms of Business - General Insurance Division

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0 height="100%"><tr> <td valign="top" width=15.625% BGCOLOR="#006633" TEXT="#F7F7FF" background="136d6c20ddvuru.jpg"> <div> <IMG SRC="1dd84d80.jpg" border=0 width="132" height="216" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></div> </td> <td valign="top" BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <B> </B><FONT SIZE="1" COLOR="#003366" FACE="Arial" >  </FONT></div> <div>  <A HREF="index.htm" TARGET="_top" TITLE=" "><U>home</U></A> <FONT SIZE="2" COLOR="#000000" FACE="Tahoma" > l </FONT>   <A HREF="id20.htm" TARGET="_top" TITLE="Covers Available"><U>Covers Available</U></A>   |   <B>Terms of Business - General Insurance Division   </B>   |   <A HREF="id16.htm" TARGET="_top" TITLE="Commercial Insurance Guidance Notes"><U>Commercial Insurance Guidance Notes</U></A>   |   <A HREF="id17.htm" TARGET="_top" TITLE="Commercial Property Owners Guidance Not"><U>Commercial Property Owners - Guidance Notes </U></A>   |   <A HREF="id27.htm" TARGET="_top" TITLE="Asbestos at Work Regulations 2002"><U>Asbestos at Work Regulations 2002</U></A>   |   <A HREF="id30.htm" TARGET="_top" TITLE="Commercial Insurance Technical informat"><U>Commercial Insurance - Technical information</U></A></div> <div> Terms of Business - General Insurance Division   </div> <DIV ALIGN="LEFT"></DIV> <div>   <IMG SRC="21865290.jpg" border=0 width="101" height="41" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></div> <div> efm<FONT SIZE="5" COLOR="#003366" FACE="Arial" >insurance</FONT>&<FONT SIZE="5" COLOR="#003366" FACE="Arial" >financial</FONT>group</div> <bR> <bR> <div> <B>ABOUT EFM</B></div> <div> Essex Financial Management Limited “EFM” is an independent insurance broker. EFM act on behalf of it's customers when arranging insurance.</div> <bR> <div> EFM is authorised and regulated by the Financial Services Authority (FSA Firm Reference Number is 149177). </div> <bR> <div> 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.The Financial Services Authority (FSA) is the independent body that regulates financial services. </div> <bR> <div> We place general insurance business with a range of insurers, underwriters, agents and other intermediaries.</div> <bR> <div> EFM are members of the British Insurance Brokers Association</div> <bR> <div> <B>PRODUCTS AND SERVICES</B></div> <div> We offer a wide range of general insurance products to both business and individuals.</div> <bR> <div> <B>Our service includes:</B></div> <div> Advice or information and recommendations on insurance needs</div> <div> <IMG BORDER="0" SRC="Symb075c00b700c800000000.png" HEIGHT="13" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Arranging cover to meet requirements</div> <div> <IMG BORDER="0" SRC="Symb075c00b700c800000000.png" HEIGHT="13" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Help with ongoing changes</div> <div> <IMG BORDER="0" SRC="Symb075c00b700c800000000.png" HEIGHT="13" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Assistance on claims</div> <bR> <div> We offer our service usually from a range of insurers but for specific risks this may be a limited number of insurers or even a single insurer.  We will advise the customer accordingly prior to conclusion of the contract.</div> <bR> <bR> <div> <B>LAW AND JURISDICTION</B></div> <div> This agreement is governed by English Law and is subject to the jurisdiction of the English Courts. No term is enforceable under the Contract (Rights of Third Parties Act) 1999. For the avoidance of doubt, the limit of the Company's liability will be limited to £1m any one circumstance</div> <bR> <div> <B>INSURER SECURITY</B></div> <div> The claims paying ability of even the strongest insurers can be affected by adverse business conditions. We cannot therefore guarantee the solvency of any insurer or underwriter.</div> <bR> <div> <B>DISCLOSURE</B></div> <div> You are responsible on an ongoing basis for providing us with all material facts relating to the insurance covers we arrange on your behalf. Material facts are those that could influence an insurer when they decide whether to accept the risk and the terms and conditions that should apply. Failure to provide full and accurate information may mean that your cover is invalid. If you are in any doubt as to what facts are considered to be material then you should disclose them to us.</div> <bR> <div> <B>CHARGES</B></div> <div> Unless stated in our documentation, or separately agreed with you in advance, no fees or service charges are payable in addition to your insurance premiums. In the majority of cases EFM will receive a commission from the Insurer for arranging and placement of the cover or from the external premium finance provider if you choose to finance your premiums this way. These are within the normal acceptable range within the industry. We will disclose the amount if asked. We may also receive earnings from certain Insurers due to the performance of our account with them. In the event of a policy being cancelled mid term and not replaced by another policy, we may retain our fee or commission from any premium rebated by the Insurer to cover the cost of risk placement and administration. </div> <bR> <div> <B>METHODS OF PAYMENT</B></div> <div> We normally accept payments by cheque. It may however be possible to spread payments through insurers' instalments schemes or credit facility we have arranged with specialist premium finance providers. We are responsible for issuing invoices detailing premium fees and taxes. </div> <bR> <div> <B>PAYMENTS DUE</B></div> <div> Unless agreed otherwise, all invoices are due for payment when issued</div> <bR> <div> <B>CONFIDENTIALITY</B></div> <div> All information provided by our clients is treated as confidential and only disclosed in the normal course of negotiating arranging and administering your insurance. With few exceptions, for example information requested by a court, a regulatory body, or information which is already in the public domain, we will not release information to any other party without your consent. EFM is registered under the Data Protection Act 1998.</div> <bR> <div> <B>DOCUMENTATION</B></div> <div> Our aim is to provide all documentation in a timely manner and in a clear and understandable format . In the event of any uncertainty we would ask you to let us know immediately. Our staff are always happy to clarify the cover provided. We strongly recommend that you should check all policy documentation issued by insurers to ensure that the details are correct and the cover provided meets with your requirements. Any errors should be notified to us immediately. A copy of your policy wording is available on request. We may keep certain documents such as insurance or certificates, while we are awaiting full payment of your premiums or fees, or if you ask us to do so. In these circumstances we will ensure that you receive full details of your insurance cover and provide you with any documents, which are required by law.</div> <bR> <div> <B>When your policy documents are issued, we strongly recommend that you read it carefully as the documents are the basis of the insurance contract you have purchased. Your policy documentation will show details of the Conditions, Exclusions and any requirements / Warranties which apply. These must be fully complied with to ensure the cover remains in force.</B></div> <bR> <div> <B>CHANGES TO YOUR COVER</B></div> <div> We will normally deal with a request to increase or amend your insurance cover on the day your instructions are received, or the next working day if a weekend or public holiday. Sometimes changes cannot be processed without obtaining additional information. If additional information is required we will contact you as quickly as possible.</div> <bR> <div> We will confirm changes to your policy with you once agreed. We will also advise you of any change in premium.; we cannot accept responsibility for failures in the postal, electronic or telecommunications systems.</div> <bR> <div> <B>CLIENT MONEY</B></div> <div> The FSA rules are designed to protect you in the event that an insurance intermediary fails or is unable to transfer:</div> <div> <IMG BORDER="0" SRC="Symb075c00b700c800000000.png" HEIGHT="13" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">any premium money it has received from you to the insurer, or</div> <div> <IMG BORDER="0" SRC="Symb075c00b700c800000000.png" HEIGHT="13" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">any claims or return premium monies that it has received  from the insurer to you.</div> <bR> <div> 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 moneys held, which will be retained by us</div> <bR> <div> <B>CLIENT MONEY </B></div> <div> We act as agents for the collection of premiums and payment of claims 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 claims or premium refund is treated as received by you when paid over to you</div> <bR> <div> Insurance funds held by EFM (including return premium payments) are paid into a Statutory Trust Account identifiable as being held on trust for and as agent of the Insurer. Where this is not the case you will be informed.</div> <bR> <bR> <div> <B>TRANSFER OF CLIENT MONEY TO THIRD PARTIES</B></div> <div> For the purpose of effecting our clients' transactions, it is sometimes necessary for EFM to pass the premium received from our clients to a third party (e.g. another intermediary firm).</div> <bR> <div> <B>TRANSFERRED BUSINESS</B></div> <div> If we take over the servicing of insurance policies which were originally arranged through another</div> <div> insurance broker or intermediary we do not accept liability for any claim arising our of the advice given by that broker or intermediary, nor for any errors omissions or gaps in your current insurance protection.</div> <bR> <div> We reserve the right to process any return premiums relative to the pre transfer date on a net of commission basis.</div> <bR> <div> We would ask you to contact us without delay should any aspect of a policy which has been transferred to us cause you concern or if you need an immediate review.</div> <bR> <div> Otherwise we will endeavour to review all transferred policies as they fall due for renewal.</div> <bR> <div> <B>FINANCIAL SERVICES COMPENSATION SCHEME</B></div> <div> We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to</div> <div> compensation from the scheme if we cannot meet our obligations. This will depend on the type of business and the circumstances of the claim.</div> <bR> <div> 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 aboutcompensation scheme arrangements is available from the FSCS.</div> <bR> <div> <B>CANCELLATION RIGHTS</B></div> <div> <B>“Retail Customers” / “Consumers” only </B>For General Insurance products you have a right to cancel a policy within 14 days of conclusion of the contract or receipt of he policy terms and conditions whichever is the later.</div> <bR> <div> <B>COMPLAINTS PROCEDURE</B></div> <div> We recognise the importance of service and set ourselves high standards. Should there be an occasion when we do not meet your expectations please contact Mark Felman, Director, EFM Leigh House, Broadway West, Leigh on Sea, Essex SS9 2DD telephone number 01702 482284 and provide details of your complaint. Your Complaint will be acknowledged within 5 working days of receipt. You will also be advised of the name of the person dealing with your complaint and when you can expect to receive a response. We will normally be able to respond in writing within 20 working days but sometimes the time-scale can be longer if the complaint is complicated or information is required from a third party. We will keep you informed if this is the case. Should we be unable to satisfy your complaint or resolve within 8 weeks of receipt you maybe entitled to refer your complaint to the Financial Ombudsman Service.</div> <bR> <div> <B>RENEWALS</B></div> <div> Where renewal of an insurance cover is paid by an Insurer's monthly instalment facility and renewal has been invited, we may, in the absence of instructions from you to the contrary, assume that the risk is to be renewed for a further period on the terms notified to you.</div> <bR> <div> <B>UNDERINSURANCE</B></div> <div> We strongly recommend that all Sums Insured are reviewed regularly. Failure to maintain</div> <div> adequate Sums Insured can result in a reduction to claim settlements. If doubt exists Professional Valuations should be sought.</div> <bR> <bR> <bR> </td> </tr></table></body>