Terms of Business

Petherwick Insurance Brokers Ltd of 3 Gordon mews, Gordon Close, Portslade, East Sussex, BN41 1HU are authorised and regulated by the Financial Conduct Authority (FCA). Our FCA Register number is 304553 and our permitted business is arranging General Insurance Contracts.

You can check this on the FCA's register by visiting their website www.fca.org.uk or by contacting the FCA on 0845 606 9966 for firms or 08001116768 (freephone) for consumers.

The FCA is the independent body that regulates financial services. It requires that we provide you with details of the services we offer. This information can be used to decide if our services are right for you.

Our Service:

We are an Independent Insurance Intermediary. Our service includes: assessing your insurance needs, advising and making recommendations on your insurance needs, acting on your behalf to arrange insurance cover with insurers, and helping you with any ongoing changes you must make.

We offer products from a large range of insurers, which is regularly reviewed and updated. For some of the policies we arrange you may deal directly with the insurer for ongoing policy administration.

As part of our service we may assist you with any claim you need to make. This will depend on our arrangements with the insurer. Our Motor Claims Management Service and Family Legal Service is available at a charge of £20 per vehicle, per annum.

Remuneration, Fees & Charges:

We receive a commission from the insurer which is a percentage of the annual premium.

When we provide a quotation, we will inform you of the total payable which will detail the insurance premium, the premium for optional additional covers, fees and any charges or interest payable based on the payment method.

We may charge you an administration fee when taking out a policy with us, renewing a policy and on mid-term adjustments. Policy cancellations will be made net of the full policy commission. Full details of those fees will be advised to you.

If the type of policy, we sell and / or our overall account with the insurer reaches specific profit targets we may receive an additional payment from the insurer.

Where we undertake work on behalf of the insurer, such as issuing quotations and policy documents on their behalf we may receive an additional payment from them for the work undertaken.

Where you pay your premiums by monthly instalments we receive a payment from the third-party finance provider for introducing you, which is a percentage of the amount financed.

You can ask us at any time for full details of the income earned by us in handling your insurance. The specific charge and purpose of any additional charges will always be advised to you in advance.

We normally accept payment by cheque, debit card or credit card. You may be able to spread your payments through insurers' instalment schemes or a credit scheme which we have arranged with various finance providers. We will give you full information about your payment options when we discuss your insurance in detail.

Cancellation Rights:

A retail customer (an individual acting outside their trade, business or profession) will usually have the right to cancel a General Insurance Contract up to 14 days after conclusion. If applicable, full details of this right will be supplied to you by the insurance provider.

Customer's Duty To Give Information:

It is your responsibility to provide complete and accurate information to insurers when you take out your insurance policy, throughout the life of your policy, and when you renew your insurance. It is important that you ensure that all statements you make on proposal forms, claim forms and other documents are full and accurate.

Please note that if you fail to disclose any material information to your insurers which they request this may invalidate your insurance cover and could mean that part of or all a claim may not be paid.

Please note whilst every effort will be made to ensure accuracy, quotations are indicative, and the confirmed premium will depend on acceptance by the insurer of the information supplied by the proposer.

Complaints:

If you should wish to make a complaint about our service, we have a formal complaints procedure. In the first instance you should contact us in writing or by phone, fax, or at our e-mail address. Please address your complaint to Mr R White, Managing Director at the address overleaf. This includes our activities under the Consumer Credit Act.

If we are unable to settle your complaint satisfactorily you may be entitled to refer it to the Financial Ombudsman Service, although this service is limited to eligible complainants (broadly defined as private individuals and businesses with a turnover of less than 2 million euros per annum and employing fewer than 10 people).

Compensation:

We are covered by the Financial Services Compensation Scheme (FSCS) and you may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of insurance and the circumstances of the claim and is limited to private individuals and small businesses.

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 or, in the case of compulsory insurances such as Employer's Liability, for 100% of the total claim.

Further information about compensation scheme arrangements is available from the FSCS.

Confidentiality:

All information about you or your company will be treated as private and confidential.

We will only use and disclose the information we have about you in the normal course of arranging and administering your insurance and will not disclose any information to any other parties without your consent.

Data Protection:

Under the General Data Protection Regulations 2018 you have the right to see personal information about you that we hold in our records. If you have any queries please write to us at Petherwick Insurance Brokers Ltd, 3 Gordon Mews, Gordon Close, Portslade, East Sussex, BN41 1HU. (This is not applicable to Limited Companies).

Telephone Call Recording:

For our joint protection telephone calls will be recorded and/or monitored.

Client Monies:

Petherwick Insurance Brokers Ltd holds all client monies in a non-statutory trust account, separate from company monies. By accepting insurance through the company, you agree that we may, from time to time, make advances of credit from this account to enable a client's premium obligation to be met before the premium is received from the client, or make payment of claims or refunds to clients before the monies are received from the insurer.

Version 1.01

Date: 29/10/2019