Terms of Business Introduction
This Terms of Business comes into force on the date you receive it from us and will remain in force until you are provided with revised terms. Cofton Insurance Services Limited is an insurance intermediary acting on your behalf in arranging your general insurance. We provide the following services, the initial arrangement of cover, mid-term alterations and renewal processing. We will advise and make a recommendation for you after we have assessed your needs. This will include the type of cover you seek together with the costs. We offer products from a range of insurers; the list of insurers and products we offer is available on request. 

Your duty to us
We will ask for and seek all relevant information from you in order to recommend an appropriate product. You must supply us with the requested information, as failure to do so, or to provide incorrect information may lead to you buying an inadequate product, or worse, the Insurer may not pay a claim. Insurer's request all "material facts" to be disclosed, which may be described as any fact, if known, which may be likely to influence their decision to accept a risk and on what terms. If any information supplied changes during the course of the policy period, you musty notify us immediately as this may influence the cover and policy terms and conditions.

Confidentiality / Data Protection Act
We will treat all customers' personal information in a confidential manner and we will ask a series of questions to ensure that we are speaking to our customer and not a person who is not authorised to ask questions or to give instructions to us. We can only take instructions to effect or to alter a policy in some way from the Policyholder or their legal representative. Your data is held in compliance with the legislative requirements.

Our Quotation to You
All premiums quoted are inclusive of HM Government Insurance Premium Tax. We reserve the right to withdraw premium indications before they are taken up and to apply any changes notified to us by underwriters after the indication has been given. We must advise you that certain insurers and Finance providers may carry out credit checks prior to arranging cover.

Evidence of No Claims bonus:
In consideration of being granted temporary insurance cover under a policy without providing us with evidence of no claims bonus, you undertake to provide such evidence within fourteen days of the commencement date. If you do not provide such evidence you must pay such increased premium as results from your failure to provide evidence. In the event that the policy has to be cancelled as a result of failure to provide bonus proof and you failing to pay any increased premium, you will be asked to pay a time on risk charge based on the total gross premium plus a cancellation fee.

Cancellation
You have certain rights of cancellation in the early stages of a policy life and these are shown in the insurer's policy details document. Policies vary between insurers but be aware that cancellation refunds are not given after a claim and are otherwise calculated on a short period scale weighted in favour of the insurers, as their costs are similar whether a policy has run for one day or for one year. Also please be aware that we do not refund commission since this is earned for arranging the policy (unless you are replacing the policy through our agency with another insurer.

Our charges
We receive our income from insurers who pay us commission for arranging your insurance. In addition to this we may charge a fee of up to £25.00 to cover our administration. Charges for arranging commercial products will be declared to you on a case-by-case basis. A charge of up to £25.00 may be made in the event of a default, failure to pay, or recorded delivery letters. This charge may be made each and every time this occurs.

Commission on Commercial business
You may request details of commission we receive from Insurers and on request, we will also provide you with a list of those insurers with whom we are able to place the particular product arranged.

Instalments
If your payment is arranged by instalments a credit agreement is issued. Your attention is drawn to the terms and conditions of the agreement as charges are made for interest and administration.

Ownership
There is no ownership between ourselves and any insurer.

Tacit renewals
In the event that your renewal is being paid by instalments, we will notify you, prior to renewal date of the premium and terms and conditions which will apply. Unless we hear from you on or prior to renewal date your policy will be renewed.

Premiums received
Your premium paid to us is held by us as agent of the insurer.

Complaints Procedure
Should you have any cause for complaint, please contact the Manager in the first instance, in order that the situation may be resolved to your satisfaction. In the event that we are unable to resolve your complaint, we will write to you within five working days advising you of the person who will be investigating the circumstances. In the event that your complaint is still outstanding after a further 4 weeks, we will write to you again advising you of the reasons for the delay and giving a timescale in which you will hear from us again. Should you wish to take the matter further you may refer your complaint to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR.

Financial Services Compensation Scheme
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% for those products where insurance is compulsory.Non-compulsory products are covered on a flat 90% basis. Further information about compensation scheme arrangements is available from the FSCS.

Law
This agreement shall be governed by the Laws of England, Wales or Scotland and the parties agree herewith that any dispute arising out of it shall be subject to the (non) exclusive jurisdiction of the relevant Court.

Regulation
Cofton Insurance Services Ltd, 1696 Bristol Road South, Birmingham B45 9TZ is authorised and regulated by the Financial Services Authority. Our FSA authorisation number is 304327 and our permitted business is 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 6061234.

 

Updated 20th July 2011