VAN DAILY EXCESS POLICY
The information in this policy wording contains important information and we have made it as easy as possible to understand. Please take time to read through it and contact us if you need any further information.
Insuremyvanhire.com is a trading name of Towergate Underwriting Group Ltd which is authorised and regulated by the Financial Services Authority.
This policy is Underwritten by White Horse Insurance (Ireland) Limited through a facility operated and managed by Strategic Insurance Services Limited (master policy number C00147/09/00) an insurance intermediary authorised and regulated by the Financial Services Authority (Firm Reference Number 307133).
White Horse Insurance (Ireland) Limited is regulated in the Republic of Ireland by the Irish Services Regulatory Authority.
White Horse Insurance (Ireland) Limited, 14 Clyde Road Ballsbridge, Dublin 4 Republic of Ireland
STATEMENT OF PRICE
Provides Excess cover for UK hires only, for an inclusive premium of £7.99 per day for the specified period up to 180 continuous days for any one van rental agreement.
Already included within this Policy's inclusive daily cost there is an Administration Fee of £3.76 and any applicable Insurance Premium Tax at 6%.
DEMANDS AND NEEDS
This product meets the demands & needs of those clients who rent a vehicle in territories as defined in the Geographical limits Section for the specified period up to 180 continuous days for any one Rental Agreement and who have paid a premium in return for this policy. Further details of the key benefits are as outlined below. This statement does not form part of your policy. You have not received any personal recommendations from insuremyvanhire.com
This insurance is available for:
LOSS DAMAGE WAIVER EXCESS REIMBURSEMENT
In consideration of the payment by the Insured Person(s) of the premium, the Underwriters (hereinafter referred to as the Insurers) shall indemnify the Insured Person(s), as named on the Van Rental Contract (the lead name of which to appear on the Policy Document). Coverage is therefore provided during the period of hire for physical damage losses incurred for any one claim, up to the maximum of £2,000 whichever the lesser, but in any event £3,000 per rental agreement. This being as a result of damage (including damage to windows and tyres, the undercarriage and the roof), fire, vandalism, theft or loss of use of the rental vehicle issued for business or pleasure when such vehicle is rented and operated from a Licensed Rental Agency and the Insured Person(s) being held responsible, as declared in the van rental contract, for the excess, to which the insured would normally be liable.
VAN RENTAL KEY COVER
This insurance also covers you, the Insured Person, for costs incurred up to a maximum of £500 (or equivalent in local currency), for each and every claim, subject to a maximum of £2,000 in any one year, for replacing a lost or stolen rental van key, including replacement locks and locksmith charges
No Van Rental Cover for rentals outside the United Kingdom
1. The due observance and fulfilment of all the terms and conditions of this insurance by the Insured Persons or anyone acting on their behalf in so far as they relate to anything to be done or complied with by the Insured Person or anyone acting on their behalf shall be a condition precedent to any liability of the Insurers to make payment under this Policy.
2. Written notice of accidents, proceedings or any other events that may give rise to a claim shall be given to the Claims Office in writing within 31 days. All Certificates, information and evidence required by the Claims Office shall be furnished at the expense of the Insured Person or their legal representatives.
3. Except with the written consent of the Insurers, no person is entitled to admit liability on their behalf or to give any representations or other undertakings binding upon them. The Insurer shall be entitled to the absolute conduct, control and settlement of all proceedings arising out of or in connection with claims in the name of the Insured Person.
4. The Insurers may at their own expense take proceedings in the name of the Insured Person to recover compensation from any Third Party in respect of any indemnity provided under this Insurance and any amounts so recovered shall belong to the Insurers and the Insured Person shall render all reasonable assistance to the Insurers
5. All claims hereunder shall be governed by the laws of England & Wales whose courts alone shall have jurisdiction in any dispute arising under this insurance.
6. All Insured Persons must hold a valid driving licence, or hold a full internationally recognised licence.
7. Cover is provided for one Rental Vehicle at any one time which may be driven and operated by any of the Insured Persons as detailed on the Rental Agreement. Cover will take effect from the time the Insured Person takes legal control of the Rental vehicle and will cease at the time the Rental Company assumes control of the Rental Vehicle whether at its Business location or elsewhere.
8. This policy must have been purchased and have commenced, either prior to or to coincide with, the commencement date of a Rental Agreement for which the Insured wishes this Cover to be operative.
"Rental Vehicle" means any automobile rented under a contract on a daily or weekly basis from such a rental Company or Agency, which must be fully licensed with the regulatory authority of that Country, State or Local Authority.
"Trip" means any rental Vehicle which is collected from a Licensed Rental Company or Agency.
"Insured Person(s)" means the lead contracting person named on this policy who must be the person named as the main driver in the Rental Agreement and is eligible to operate and drive the Rental Vehicle and who is aged between 21 and 84 years old. This also applies to any of the persons specified on the Rental Agreement.
" Rental Agreement" means the contract signed by the lead named driver (who must be the name on the Insurance Certificate as issued) that states the excess to which the lead named driver is responsible.
1. Persons who have not paid in full the appropriate or additional premium.
2. Wilfully self-inflicted injury or illness, alcoholism or the use of alcohol or drugs (other than drugs taken in accordance with treatment prescribed and directed by a registered medical practitioner, but not for the treatment of drug addiction) self exposure or needless peril (except in an attempt to save human life).
3. Loss or destruction of or damage to any property whatsoever, or any liability, loss or exposure whatsoever resulting or arising there from or any consequential loss directly or indirectly caused by or contributed to by or arising from (a) ionising radiation or contamination by radioactivity from any nuclear fuel or any waste and the combustion of nuclear fuel or (b) the radioactive toxic explosive or other hazardous properties or any explosive nuclear assembly or nuclear component thereof.
4. Loss or damage directly or indirectly occasioned by happening through or in consequence of war, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, terrorism, military or usurped power or confiscation or nationalisation or requisition or destruction of or damage to property by or under the order of any government or public or local authority;
5. Losses in respect of any property or expenses more specifically insured or any claim which but for the existence of this insurance should be recoverable under any other insurance.
6. Claims or incidents that may give rise to a claim not notified direct in writing to the Claims Office within 31 days of the expiry of the Insurance.
7. Any fraudulent, dishonest or criminal act committed by the Insured Person(s) or with whom he / she is in collusion, or insurance effected in circumstances where a claim might reasonably be anticipated.
8. Loss arising from operation of the vehicle in violation of the terms of the Rental Agreement.
9. Expenses assumed, waived or paid by the Rental Agency or its Insurers.
10. Automobiles or other vehicles, which are not Rental Vehicles.
11 Wear and tear, gradual deterioration, insect or vermin, inherent vice or damage.
12. Transporting contraband or illegal trade.
13. Driving by persons who are not named on the Rental Agreement
14. We will not pay for any liability arising from rental vehicles where the value of the vehicle exceeds £50,000, or for vehicles which are more than 10 years old.
15. The rental of certain vehicles, namely: motor homes, camper vans, trailers or caravans, trucks, large commercial vehicles with more than an unloaded weight of 3.5 Metric Tonnes., motorcycles, mopeds, motorbikes, off-road vehicles, recreational vehicles and passenger vans and vehicles with more than 9 seats.
16. Small commercial vehicles with less than an unloaded weight of 3.5 Metric Tonnes, unless the appropriate premium has been paid.
17. Expenses reimbursed by the Insured Person's Employers' Insurer.
18. No coverage provided for those under 21 years and over 84 years of age. more than 9 seats.
19. Losses occurring from driving whilst not on a Public Highway.
20. Coverage must coincide with the rental agreement; coverage will be voided if the coverage either for the insurance policy or the rental agreement does not coincide. Any extensions on the policy must be done on the website: http://www.insuremyvanhire.com. No policy can be issued retroactively
21. We will not pay for any liability arising from loss or damage to the rental van as a result of it’s fuel tank being filled with the incorrect fuel type.
23. Fees and charges that are levied by the Rental Company, which do not form part of the costs of repairing the Physical Loss or Damage to the Rented vehicle, unless specifically accepted by Underwriters.
If you would like a copy of the Policy Wording, please call + 44 (0) 844 892 1770 during office hours (9am > 5pm), and a copy will be dispatched. The Policy Wording is also available on our website, www.insuremyvanhire.com.
Your policy contains a “cooling-off” period of 14 days. If you find this policy does not meet with your needs, email, telephone or write to Insuremyvanhire.com, Towergate Insurance, Ellenborough House, Wellington Street, Cheltenham, GL50 1XZ, email address: firstname.lastname@example.org, telephone number: (+ 44 (0) 844 892 1770) within 14 days. Your policy must be cancelled prior to the commencement date and your premium will be refunded as long as you have not rented a vehicle and do not intend to make a claim.
We may cancel your policy at any time by giving you 7 days' written notice to the last known email address (or mailing address if you do not have an email address) provided by you. We will give you a proportionate refund of any premiums paid for the insurance cover remaining, providing you have not made any claim during the period of insurance cover.
Should you wish to claim under this policy you should call White Horse Administration Services Ltd as soon as possible and no later than 31 days. You must give them information or help that they ask for. You must not settle, reject, negotiate or agree to pay any claim without their written permission. Full details of how to claim are set out below.
Claims Handling Office. In the event of any accidents, proceedings or any other events that may give rise to a claim, please contact White Horse Administration Services Ltd – within 31 days of incurred loss - to notify them and request a claim form to be sent to you by email, fax or post. You can also use the email link on the Claims Page of the website http://www.insuremyvanhire.com to notify White Horse Administration Services Ltd . Please fully complete, sign and date the claim form and return it with all supporting documentation – outlined below – by email, fax or post to:
1. Copy of your policy from Insuremyvanhire.com
2. Copy of Rental Agreement
3. A copy of your Charge Receipt (if separate from the Rental Agreement)
4. If the incident by law requires the attendance of the Police, we require a copy of the Police Report.
5. Renter's copy of the rental company's accident damage report.
6. Invoices / Receipts / other documents confirming the amount you have paid in respect of Accident /Damage / Loss etc. for which the Vehicle Rental Company holds you responsible
7. Copy of your credit card statement showing payment of the damages claimed
8. Copy of the driving licence of the person driving the rented vehicle involved in the accident (the driver).
9. Name and address of your bank together with the sort code and account details. This will facilitate payment, as the insurance company prefers to make the payment directly to your bank.
White Horse Administration Services Ltd
Phone: +44 (0) 871 664 7995
The office hours of White Horse Administration Services Ltd are 9.00am – 5.00pm, Monday to Friday
We do everything possible to make sure that you receive a high standard of service. If you are not satisfied with the service that you receive, please contact in the first instance, your agent or the Issuing Agent with whom the policy was taken out, if you remain dissatisfied then you should address your enquiry/complaint to:
The Managing Director
Please provide full details of your policy and in particular your policy number to help your enquiry to be dealt with speedily.
Making a complaint will not affect your rights in law.
If you still remain dissatisfied with the outcome of your complaint you can refer your complaint to: -
The Financial Ombudsman’s Service
South Quay Plaza
183 Marsh Wall
Or if the complaint is directly in relation to the Insurer: -
Irish Financial Services Ombudsman 2nd Fl Lincoln House, Lincoln Place,Dublin2,Ireland
We are covered by the Financial Services Compensation Scheme (FSCS). If we are unable to meet our obligations, you may be entitled to compensation from the scheme, depending on the type of insurance and the circumstances of the claim. Further information is available from the FSCS at www.fscs.org.uk
FAILURE TO FOLLOW THESE STEPS MAY JEOPARDISE THE REIMBURSEMENT OF YOUR COSTS
Chief Executive Officer, Insuremyvanhire.com, Towergate Insurance, Ellenborough House, Wellington Street, Cheltenham, GL50 1XZ. Telephone: + 44 (0) 844 892 1770
WHITE HORSE INSURANCE IRELAND LIMITED
Customer Relations Manager, 14, Clyde Road , Ballsbridge , Dublin 4 , Republic of Ireland.
We will do our best to resolve any difficulty directly with you, but if we are unable to do this to your satisfaction you may be entitled to refer any dispute to the Financial Ombudsman Service who will review your case. The address is: 2nd Fl Lincoln House, Lincoln Place,Dublin2,Ireland
FINANCIAL OMBUDSMAN SERVICE
Insurance Division, South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone: +44 (0) 845 080 1800
1. TERMS OF BUSINESS ("TERMS")
In these Terms references to "we" or "us" are to the firm whose details are set out in the covering letter that accompanies these Terms. We recommend that for your own benefit and protection you should read these Terms carefully. These Terms constitute our standard client agreement upon which we intend to rely and will apply to our appointment by you and the services that we will provide. If you do not understand any point please ask for further information.
IN PARTICULAR we draw your attention to CLAUSE 10 and CLAUSE 15 of these Terms which relate to the amount you will receive if you cancel your policy, and the maximum amount we will be liable for in the event of our negligence.
These Terms supersede all proposals, prior discussions and representations (whether oral or written) between us relating to our appointment as your agent in connection with the arranging and administration of your insurance. These Terms constitute an offer by us to act on your behalf in the arranging and administration of your insurance – in the absence of any specific acceptance communicated to us by you (whether verbal or written) you are deemed to accept our offer to act for you on the basis of these Terms by conduct upon your instructing us to arrange, renew or otherwise act for you in connection with insurance matters. If you do not wish to be bound by these Terms then you should not instruct us to arrange, renew or otherwise deal with your insurance needs
2. HOW TO MAKE A CLAIM
If you wish to report a claim or potential claim, please follow the instructions provided with your insurance company’s documentation, quoting your policy number or other reference given to you. Alternatively, if we need to be notified as well as (or instead of) your insurance company, we will have provided you with details (and a telephone number) at the time we sold you your policy and/or in the documentation you received from us.
For some policies, insurers give us authority to act on their behalf in settling claims. In these circumstances, and in recognition of a potential conflict of interest, we will seek your permission for us to deal with such a claim.
3. Who are we regulated by?
The Financial Services Authority ("FSA") is the independent watchdog that regulates financial services. We are authorised and regulated by them and you can check this by visiting the FSA’s website http://www.fsa.gov.uk/register
/home.do or by contacting the FSA on 0845 606 1234. Our permitted activities are recommending insurance policies (and in cases where we do not give a recommendation we will tell you); arranging insurance cover; dealing as agent and assisting with the administration and performance of policies – all in connection with general insurance.
4. ARE WE COVERED BY THE FINANCIAL SERVICES COMPENSATION SCHEME ("FSCS")?
Yes. You may be entitled to compensation from the scheme if we cannot meet our obligations, depending on the circumstances of the claim. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of any claim, without upper limit. Further information about compensation scheme arrangements is available from the FSCS at www.fscs.org.uk
Our objective is to provide a high standard of service to you at all times. However we recognise that things can go wrong occasionally and if this occurs we are committed to resolving matters promptly and fairly. If you wish to register a complaint please contact us:
• in writing, to the Managing Director at the address shown on the letter (or business card) that accompanies this document, or;
• by telephone, using the number shown on the letter document (or business card) that accompanies this document, or;
• in person, at the address shown on the letter (or business card) that accompanies this document.
In all cases please quote your policy number or other reference we have given you. If you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service. Our Complaints Procedure is available upon request.
6. WHICH INSURANCE COMPANIES DO WE USE TO SELECT YOUR INSURANCE?
For the following insurance(s) that you have/will be quoted for, we have/will select your insurance policy/policies from a range of insurers.
For the following insurance(s) that you have/will be quoted for, we offer you a policy/policies from a limited number of selected insurance companies. On request, we will give you a list of these.
For the following insurance(s) that you have/will be quoted for, we only offer you a policy/policies from one insurance company. Excess Reimbursement Insurance
If you choose to pay your insurance by instalments we may use a scheme operated by the insurer who provides cover or a lender from a limited panel we use to provide finance.
7. OUR SERVICES
We are an insurance intermediary acting on your behalf as your agent in arranging your insurance cover. Our services may include advising you on your general insurance needs, arranging insurance cover with insurers to meet your requirements, issuing policy documentation to you in a timely manner and helping you with any ongoing changes you wish to make to your insurance. We may also help you make a claim against your policy. We will endeavour to ensure that the products or services we offer you match your stated requirements. We will seek to identify your insurance needs in reliance upon information which you provide to us. If we cannot match your requirements, we will explain the differences in the product or service that we can offer you. If we cannot match all your requirements, we will seek to provide you with enough information so that you can make an informed decision about your insurance.
We will explain the main features of the products and services that we offer you including details of the insurer, main details of cover and benefits, any unusual restrictions or exclusions, any significant conditions or obligations which you must meet and the period of cover. If you need extra time to consider the products or services we have offered you, we will endeavour to confirm: (a) how long you have to accept the insurance on the terms we have offered, and/or; (b) give you a written quote if you request one, including all the information we believe you need to make an informed decision, and/or; provide you with a sample policy if you ask for one.
8. THE FEES WE CHARGE FOR OUR SERVICES
We will usually charge a fee for our services (typically when you buy or renew a policy) but you will always be informed of any such charge before you purchase a policy. Our fees are non-refundable even if you cancel your policy (see clause 10 for further details). During the term of the policy we may charge up to £25.00 for issuing duplicate documents and up to £50.00 for changes to your policy. We will charge a fee for payments made with a Credit Card. This fee is displayed on the payment screen once you have select the type of card you wish to use. The amount charged depends on the cost of your policy. All fees will be inclusive of any applicable tax that may be levied from time to time.The fees are as follows:
DAILY- ALL POLICIES
• £1.50 total per daily policy
ANNUAL- ALL POLICIES
• £00.00 to £49.00 = £2.00
• £50.00 to £99.00 = £2.50
• £100.00 plus = £3.50
In certain circumstances your insurer may repay part of your insurance premium(s) to us. This can occur where, for example, the risk covered by your policy is reduced or the policy itself is cancelled. Where the amount of the refunded premium is less than £10 (per policy) we will retain such amount, but where a mid-term adjustment or cancellation charge is made we will set it off against such charge. This paragraph does not affect any cancellation/refund rights which you may have (see clause 10).
9. YOUR LEGAL DUTY TO DISCLOSE INFORMATION TO US AND INSURANCE COMPANIES
It is your responsibility to provide complete and accurate information to us and insurers when you take out your insurance policy, throughout the life of the policy and when you renew it.
It is important you ensure that all statements you make on the proposal form, claim form and other documentation are full, frank and accurate.
If you are in any doubt as to the relevance of any information you should disclose it. Please note that if you fail to disclose any material information or change of circumstances to us or your insurer, this could invalidate your insurance cover and could mean that part or all of a claim may not be paid.
We strongly recommend that the information provided is checked thoroughly prior to submission and that you keep a record of all correspondence supplied in relation to the arrangement of your insurance cover.
Please also note that any renewal of insurance will be made in reliance upon the information provided by you in connection with your previous insurance policy – we will assume that such information remains correct unless you tell us otherwise.
10. Cancellation Rights and Mid-Term Adjustments
You will find full details of your cancellation rights, and any related charges which may be levied by your insurer, in the terms and conditions of the insurance policy produced by your insurance company. Cancellation rights vary between insurers. Depending on the type of insurance you will have either 14 or 30 days (the "Cooling Off Period") to cancel your policy with effect from: (a) the day you receive the full terms and conditions of the policy, or; (b) the day the policy is sold - whichever is the later. Please note that a Cooling Off Period does not usually apply to policies of less than one month’s duration, or single-trip travel policies. To exercise your right of cancellation, contact your insurance company or contact us either by telephone or by letter in each case in the manner and within the time limits set out in your policy documentation. If you exercise your right to cancel your policy within the Cooling Off Period you will be charged for the period during which you were temporarily covered, and other charges (such as an administration fee, see clause 8) may be applied by us or the Insurer(s) to cover the costs in arranging the cancelled policy.
YOUR ATTENTION IS SPECIFICALLY DRAWN TO THE FOLLOWING:-
Where you cancel your policy AFTER the expiry of the Cooling Off Period or where you request a mid-term adjustment which reduces the cover provided under the policy, we reserve the right to charge you for our time and costs. This will result in us reducing the amount refunded to you by the FULL amount of the commission and fees we would have received had you not cancelled or amended your policy. The reason for this is that the majority of our costs are incurred either in initially finding and setting up your policy or in the annual renewal process when we might check the ongoing suitability of the cover the policy offers. These costs are recovered through the commission we earn. If you cancel, this does not give us an opportunity to recover the costs we incurred and would often result in us making a loss. However, any charge made will not exceed the cost of the commission and fees we would have earned.
Where you are paying for your insurance by instalments (and an instalment payment is not received by us or the relevant premium finance provider on or before the date when it is due to be paid) you agree that we may on your behalf instruct the insurer to cancel the insurance (or where the first instalment payment has not been received, notify the insurer that the policy has not been taken up) and offset any refund of premium which may be received against any money which you owe to us, the insurer and/or the premium finance provider. In such circumstances you will remain liable for any time on risk or other charge. You will also be responsible for putting in place any alternative insurance.
11. OUR RIGHT TO SET OFF MONIES YOU OWE US
It is our practice to set-off any amounts due to us from you against any monies which we may receive on your behalf (such as claims monies or premium refunds).
12. INFORMATION ON OUR REMUNERATION
Other companies (including members of our group of companies) may act as underwriting agents, intermediaries for insurers or Lloyd’s/London Market placing brokers in connection with your insurance. Where such companies are involved in placing or servicing your business they may charge an administration fee or other payment which will be passed on to you and disclosed separately from the cost of your insurance. Such businesses earn commission in respect of placing such business which is separate from that which we receive.
In addition to commission which is paid to us by insurers we may earn a "profit-share", management or administrative fees and other payments from insurers for efficiently managing business transacted with them. These payments may be calculated by reference to various criteria such as overall annual profitability of the insurance business transacted, taking into account the total amount of claims arising under policies we place with them. "Profit-share" payments are not directly referable to individual policies and consequently it is not possible to calculate such payments on an individual policy basis, meaning that we are unable to disclose to you how much your policy contributed to any "profit-share" payment we might receive. Ordinarily, and if such a "profit-share" payment is received (which is not guaranteed) it represents a small proportion of the normal commission we receive and will be retained by us.
Depending on the services which you have asked us to perform we may earn referral fees from third parties which are incidental to the insurance arranged for you. Such payments may be derived from a number of incidental activities including arranging premium financing, risk management, legal expenses cover and uninsured loss recovery services and will be retained by us. In limited circumstances additional amounts may also be paid to us by third parties where compensation for a personal injury claim is obtained or where a hire car is arranged following an accident. In each case we will retain these payments.
From time to time insurers may make loan facilities available to us on commercially advantageous terms as an incentive for us to efficiently and profitably manage business transacted with them. This may involve (for example) reduced or nil interest rates and extended repayment terms which apply to such loans provided we meet or exceed efficiency and profitability targets set by the insurers in respect of the business we have placed with them.
During the course of our appointment we may hold certain monies on your behalf. This may include premiums to be paid to insurers, commissions derived from your insurance, claims monies and other sums. Interest and investment returns which are derived from such sums whilst temporarily held on your or your insurer’s behalf will belong to and be retained by us in addition to any other remuneration which we may earn in connection with the services which you have asked us to perform.
For each insurance contract, including any subsequent renewal, you have a right to request information regarding any remuneration that we may have received as a result of placing your insurance business.
13. INSURER SOLVENCY
Whilst we will endeavour to place business with insurers who demonstrate an adequate level of financial solvency, and although their regulator requires them to maintain a minimum level of capital, we cannot guarantee the solvency of any insurer. We do not monitor insurer solvency on an ongoing basis, and shall not be liable for losses suffered by you in the event of the insolvency of an insurer.
14. NOTIFICATION OF INCIDENTS
It is essential that you notify us promptly after discovery of all incidents or allegations that may result in a claim against your insurance policy. You must do so whether you believe you are liable or not. Any failure to do so may result in your insurer refusing to accept a claim. Any letter or other communication making allegations which could give rise to a claim which is received by you from any third party must be passed to us immediately, without acknowledgment. Only by providing prompt notification of incidents can your insurance company take steps to protect your interests.
15. LIMITATION/EXCLUSION OF LIABILITY ---- YOUR ATTENTION IS SPECIFICALLY DRAWN TO THIS CLAUSE WHICH LIMITS OR EXCLUDES OUR LIABILITY TO YOU
Our liability for losses suffered by you as a direct consequence of any negligent performance of our services shall be limited in all circumstances to £5,000,000 per claim. In respect of any other claim arising out of our performance or non-performance of the services hereunder our liability shall be limited to the amount of commission and fees which we have received for arranging your insurance cover during the 12 months prior to such claim arising. We shall not be liable to you for any economic loss, loss of profit or loss of business, whether directly or indirectly occurring and which arises out of or in connection with these Terms. Nothing in this paragraph shall exclude or limit our liability for death or personal injury caused by our negligence, or for loss caused by our fraud, wilful misrepresentation or breach of regulatory obligations owed to you. You are welcome to contact us to discuss increasing the limitations of our liability and/or varying the exclusions set out above.
16. YOUR INSURANCE POLICY(IES)
As and when we feel it appropriate we may review your policy and look to enhance and/or extend the cover offered. This could be in response to new product developments or to a change in your circumstances.
17. TERMS OF PAYMENT
In the absence of any alternative terms which we agree with you in writing (such as payment by instalments which we can arrange for you) our payment terms are as follows:
• new policies – full payment of premium and fees on or before the inception date of the policy;
• mid-term adjustments to existing policies – full payment of any additional premium and fees on or before the effective date of the change;
• renewals – full payment of premium and fees prior to the renewal date.
We normally accept payment by debit or credit card. It is imperative that you comply with all payment terms and due dates set out in this paragraph or any such other terms and dates which we agree can be substituted for any of them. In the event that you fail to pay any premium or other fees due then your insurer may cancel your policy from the inception or renewal date and any claims submitted may be rejected.
18. IMPORTANT INFORMATION RELATING TO RENEWAL OF POLICIES
Prior to the expiry of your policy where we will be inviting a renewal we (or your insurance company) will endeavour to send you details of the cost and terms to renew your policy. On occasions your renewal may be offered with a different insurer, however, we will notify you if this is the case in writing before the renewal date. This may happen in response to changes to your products, or the availability of new products, or in response to changes in your circumstances. In order to protect your interests relating to the risks/property you have insured, and in the event that we do not receive your instructions and payment prior to the date of renewal, we reserve the right (but shall have no obligation) to renew your policy and (in the case of direct debit/instalment payments) to continue to accept payment from you unless and until you specifically notify us or your insurance company in writing that you wish to cancel your policy. In circumstances where we have assumed (in the absence of instructions to the contrary) that renewal is required you may be liable to make payment to us and/or your insurance company.
19. HOW WE HOLD YOUR MONEY
Premium(s) and any other monies we may hold on your behalf (for example refund premiums and claim cheques received from an insurer) will be held in Trust until such time as they are remitted by us to your insurance company/to you. This may be a Statutory or Non-Statutory Trust account operated in accordance with FSA regulations. However, some (but not all) of the insurance companies we deal with have agreed to deem any premiums that you pay to us as having been received directly by themselves. This improves your protection against financial loss in the event of our insolvency. Please note that this is not the case for all the insurance companies we deal with and where this added protection does apply it may only extend to premiums, and not to any claim payment, refund or other monies that we may from time to time hold on your behalf. Should such an arrangement be agreed with an insurer(s) we may not hold your funds in Trust because of this added protection.
We will take commission earned from insurance companies in connection with your insurances, from the Statutory or Non-Statutory Trust account, only after we have received your premium (or received it from a third party finance provider on your behalf). This may occur before payment of the premium to the insurance company and will take account of the Terms of Business we have agreed with the insurance companies.
Where we hold money in a non-statutory trust we may use the funds in that account as a short term credit facility to fund another client’s premium before it is received from that other client and/or to pay claims and premium refunds to another client before we receive the same from an insurer. The total funds held in the non-statutory trust account must always comply with the FSA regulations to ensure you are protected from loss.
Occasionally as part of the process of finding a policy that suits your requirements, we may pass your premium to another insurance intermediary who will also be required to hold your money in Trust until the premium is deemed to have been received by the relevant insurer. Between receiving any money from you and us passing it on to insurers (and vice versa), we may remove it from the Trust account in which it is held to another account in order to earn interest or other investment income from it. In such an event the account in which it is placed will be set-up with the same Trust protection as the account from which it is removed. To improve the efficiency of our business we may wish to transfer your policy between companies within the Towergate Partnership group of companies. In such circumstances we may transfer any money we hold on your behalf to a new bank account with the same trust protections as the existing account to ensure that the protection afforded to your money remains in place at all times. We will retain any interest or income accrued.
By accepting these terms you consent to the way we will hold your premium (and/or other insurance related money) in accordance with this paragraph.
20. CONFIDENTIALITY AND DATA PROTECTION
All information about you of a sensitive or personal nature will be treated as private and confidential. We will however use and disclose the information we have about you in the course of arranging, placing and administering your insurance. This may involve passing information about you to insurers, other intermediaries, risk management assessors, uninsured loss recovery agencies and other third parties involved (directly or indirectly) in your insurance. We may also pass information about you to credit reference agencies and premium finance providers in connection with the assessment of your financial standing generally and, in particular, where you have requested a premium instalment plan – this may include details of your payment record with us. We may also pass information about you to other companies which are in or are associated with our group. We or they may also use the information we hold about you to provide you with information on other products and services we or they can offer and which we or they feel may be of interest to you. If you do not wish to receive marketing information from us or them, or for us to disclose information about you to other parties for marketing purposes, please contact us immediately. In the interests of security and to improve our service, telephone calls may be monitored and/or recorded.
21. NO WAIVER/OUR RIGHT TO ASSIGN
Any delay on our part in enforcing any of the rights under these Terms, either in whole or in part, shall not be deemed to be a waiver of such right. We may freely assign or delegate all or any part of these Terms and/or the services to any third party. In the event that we assign or delegate all, or any part, of these Terms to a third party your rights under these Terms will not be adversely affected.
22. GOVERNING LAW
These Terms and conditions are governed by English Law and we both agree to submit to the non-exclusive jurisdiction of the English courts.