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This document is effective from 12 January 2009. Please read it
carefully.
It sets out the terms upon which we agree to act for our
clients in connection with their insurance arrangements,
and contains details of our regulatory and statutory
responsibilities. It also sets out some of your
responsibilities. Please contact us immediately if there
is anything in these Terms of Business which you do not
understand or with which you disagree.
The Combined Market Traders Insurance Association is an
Appointed Representative of Hayes Parsons Ltd which is
authorised and regulated by the Financial Services
Authority (FSA). You can check this information on the
FSA’s Register by visiting the FSA’s website at
www.fsa.gov.uk/register or by contacting the FSA on
0845 606 1234.Our trading address is 9 St Edmunds Road,
Gants Hill, Ilford, Essex IG1 3QL
We only offer insurance products from Zurich Insurance
Company
TREATING CUSTOMER FAIRLY
We aim to provide our customers with an excellent
customer service to ensure their insurance requirements
are met and to deal with them in an open, honest and
fair manner at all times.
METHODS OF COMMUNICATION
We will normally communicate with you by post, telephone
and, where available, fax or e-mail. Please let us know
if you would prefer not to receive communication by
e-mail.
INSURER SECURITY
Whilst we monitor the financial strength of the insurer
with whom we place business, it should be noted that the
claims-paying ability of even the strongest insurer
could be affected by adverse business conditions. We
cannot, therefore guarantee the solvency of any insurer
or underwriter.
A liability for the premium, whether in full or
pro-rata, may arise under policies where a participating
insurer becomes insolvent.
You are responsible, on an ongoing basis, for providing
us and/or your insurers with all material facts relating
to the insurance covers we arrange on your behalf.
Material facts are those which are likely to affect the
assessment and acceptance of risks being insured.
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 or your insurers.
It is very important that information given in proposal
forms, claim forms and declarations to insurers is
correct. If a form or declaration is completed on your
behalf, it is your responsibility to check that the
answers given to all questions are true and complete.
You are advised to keep copies of any correspondence you
send to us or direct to your insurers.
Unless we tell you otherwise when you take out or renew
a policy with us we make no charges in addition to the
insurer’s premium. The right is reserved to make an
administration charge of £5.00 for issuing replacement
policies or certificates in the event of the loss or
misappropriation of the original documents.
In the event of a policy being cancelled mid term, and
not replaced by another policy, we reserve the right to
retain the commission earned on the original
transaction.
SETTLEMENT TERMS
You are responsible for the prompt settlement of
insurance premiums so that we can make the necessary
payments to your insurers. We have no obligation to fund
any premiums on your behalf and cannot be held
responsible for any loss which you may suffer as a
result of a policy being cancelled or otherwise
prejudiced due to the late payment of a premium where
the delay is attributable to you.
CLIENT MONEY
CONFIDENTIALITY
All information provided by our clients is treated as
confidential and only disclosed in the normal course of
negotiating, arranging and administering your insurance.
This may include disclosing information to agents and
service providers such as loss adjusters and approved
contractors.
With a 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.
We are registered under the Data Protection Act 1998 and
undertake to comply with the Act in all our dealings
with personal data.
QUOTATIONS
Unless stated
otherwise in our documentation all quotations provided
for new insurances are valid only for a period of 30
days from the date of issue and subject to satisfactory
completion of a Proposal Form.
You should be aware that quotations may change or be
withdrawn if the information given to us or your
insurers in proposal forms or declarations differs from
that provided at the time the quotation was issued.
We will normally deal with requests to increase or amend
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. We
will confirm changes to your policy, once agreed, in
writing. We will also advise you of any extra premiums
you must pay or premiums we must return to you.
RECEIPT OF INSTRUCTIONS
We do not consider instructions to arrange or change
cover sent to us by post, electronic mail or facsimile,
or left on answering equipment, to have been received
until they reach the relevant personnel in our offices.
We do not accept responsibility for instructions which
do not reach us due to failures in the postal,
electronic or telecommunications systems.
Our aim is to produce documentation and correspondence
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. You should check all policy
documentation to ensure that the details are correct and
the cover provided meets with your requirements. Any
errors should be notified to us immediately. We
recommend that you keep policy documents for as long as
a claim is possible under the policy. We may keep
certain documents while we are awaiting full payment of
premiums, fees or administration charges, 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.
In the event of a claim you should contact Zurich
Insurance on 0121 456 1999 quoting the policy number
shown on your certificate.
Please ensure that you report
all incidents that could give rise to a claim as soon as
you become aware of them. You will be advised if you
need to complete a claim form or produce documentation
to support your claim. In certain circumstances late
notification may result in your claim being rejected.
Pease pass copies of all correspondence, including
solicitors’ letters, to insurers immediately and
unanswered. Any attempt to negotiate or respond to the
incident without prior reference to your insurers or us
might prejudice your cover.
You should be aware that a claim arising after renewal
of the policy has been invited might affect the
assessment and acceptance of renewal by your insurers.
CONFLICTS OF INTEREST
We act as the agent of our client. We are subject to
the law of agency which imposes certain duties on us. We
also have proper regard for the interests of others,
including the insurer for whom we act. Where we become
aware of any actual or potential conflict of interest we
will inform you of the situation, the options available
to you and obtain your consent before we carry out your
instructions.
We recognise the importance of service and set ourselves
high standards. Should there be an occasion when we do
not meet your expectations we are equally
committed to dealing with any complaint in a thorough
and professional manner. If you wish to register a
complaint please contact us either in writing, addressed
to the Directors of the Combined Market Traders
Insurance Association at the above address or by
telephone on 020 85545273 or 020 85008489
If you cannot settle your complaint with us you may be
entitled to refer it to the Financial Ombudsman Service.
COMPENSATION
We are covered by the Financial Services Compensation
Scheme (FSCS). You may be entitled to compensation from
the FSCS 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 details
about compensation scheme arrangements are available
from the FSCS.
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.
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