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Terms of Business

Accepting our Terms of Business

By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business.  We draw your particular attention to:

  • The section headed ‘Use of personal data’ and specifically the paragraph explaining how ‘sensitive personal data’ will be used; and
  • The sub-section entitled ‘Credit Checks’.

For your own benefit and protection, you should read these terms carefully.  If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you, please contact us at 42/44 Spencer Road L’Derry BT47 6AA.

The Financial Conduct Authority

Find Insurance and Find Insurance NI are trading names of Find Insurance NI Ltd which is authorised and regulated by the Financial Conduct Authority (FCA).  Our FCA Register number is 471896. Our permitted business is introducing, advising, arranging, dealing as agent and assisting in the administration and performance of general insurance contracts, and credit broking and debt administration in relation to premium finance arrangements.

You may check this on the FCA’s register by visiting the FCA website, www.fca.gov.uk/register/ or by contacting the FCA on 0800 111 6768.

Our service

Helping you to decide

Our role is to advise you and, after we have assessed your needs, to make a suitable recommendation.

In some circumstances we do not provide advice and we will therefore confirm in separate documentation whether or not any advice or recommendation has been made before finalising your insurances.  We will not provide further advice or recommendations following the arrangement of insurance cover, unless you notify us of a material change of circumstances or formally request that we review your insurance arrangements.  At renewal, unless we give you a quote for cover with an alternative insurer, we will not offer advice or make recommendations (unless you request this during the renewal process).

Please note the comparison facility available on our website is provided by a Third Party and this service does not constitute providing advice.

We will not in any circumstance guarantee the solvency of any insurer.

The capacity in which we act for you

In providing our service, we may sometimes act as an agent of the insurer.  We will confirm the capacity in which we will act for you before undertaking any relevant transactions on your behalf. 

Our product range and the range of insurers used

We select commercial insurances from a range of insurers, but for certain products, we only select products from a limited number of insurers or only offer products from a single insurer.  We will give you further information about this before we finalise your insurance arrangements; where we select products from a limited number of insurers you may ask us for a list of the insurers we deal with for these products.

If we propose using another intermediary to help place your business, we will confirm this to you in good time before any arrangements are finalised.

Compaints and compensation

We aim to provide you with a high level of customer service at all times but, if you are not satisfied, please contact us:

In writing…             Write to Managing Director, Find Insurance, 42/44 Spencer Road, L’derry, BT47 6AA

By phone…            028 71 311 171

By email….           complaints@findinsuranceni.co.uk

When dealing with your complaint, we will follow our complaint handling procedures; a summary of these procedures is available on request.  If you are still not satisfied, you may be entitled to refer the matter to the Financial Ombudsman Service (FOS). For further information you can visit FOS website www.financial-ombudsman.org.uk.

Access to the FOS is available for complainants coming within one of the following categories at the time we receive their complaint:

  • Consumers (e.g. private individuals)
  • Micro-enterprises (i.e. employing fewer than 10 persons and with a turnover or annual balance sheet total not exceeding €2 million).
  • Charities with an annual income of under £1 million
  • Trustees of a trust with a net asset value of under £1 million

We are covered by the Financial Services Compensation Scheme (FSCS).  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.  If you are eligible to claim from the FSCS, compensation in relation to insurance advising and arranging is available as follows:

  • 90% of the claim, without any upper limit
  • 100% of the claim without any upper limit for:
  • Compulsory classes of insurance (such as Third Party Motor or Employers Liability); and
  • ‘Pure protection’ contracts, professional indemnity insurance, and general insurance claims arising from the death or incapacity of the policyholder owing to injury, sickness of infirmity, all where an insurance intermediary has failed to pay money to an insurer, pay away money it has received from an insurer, or has failed to take steps to allow the insurer to effect the contract of insurance.

Further information about compensation scheme arrangements is available from the FSCS on:            0800 678 1100 (freephone) or 020 7741 4100 or www.fscs.org.uk.

Payment for our services

We normally receive commission from insurers or product providers.  In good time before the conclusion of each insurance contract, or upon renewal, we will remind you of your right to be informed of the level of commission which we receive from underwriters. You are entitled, at any time, to request information regarding any commission which we may have received as a result of placing your insurance business. In circumstances where we agree with the insurer to receive premiums net of commission, a negotiated fee in lieu of commission will be arranged between you and your account handler.

We also charge you for handling your insurances as follows:  

  • New business – £40 (Consumer Travel £10)
  • Renewals – £40 (Consumer Travel £10)
  • Mid-term amendments £15
  • Cancellations – Commission plus £15
  • Issuing duplicate documentation for commercial motor policies – £15
  • Copies of personal data we hold about you – £10 per request
  • Credit Card payments – 3% of total price
  • Unpaid Cheques – £25
  • Comparison Facility on our Website: Please note there is no fee charge for utilising the comparison facility on the Company’s website which is provided by a Third Party company.

You will receive a quotation which will tell you the total price to be paid, and which identifies any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded. If your business is transacted in Euro the fee due will be paid in Euro; if placed in GBP the fee will be in GBP.

Any discount allowed at inception of the policy will also be clawed back from any return premium following the cancellation of that policy.

We also draw your attention to the sections headed ‘Cancellation of insurances’ and ‘Ending your relationship with us’.

Arranging Finance

Find Insurance NI Ltd is authorised and regulated by the Financial Conduct Authority as a credit broker. We perform this role as we conduct a regulated activity by arranging finance or introducing you to finance providers for the payment of your insurance contract. We are an independent credit broker as we have access to a range of third party finance providers to secure competitive terms. All our finance arrangements are on an advised basis as we will recommend the finance provider most suitable for the payment of your insurance contract. We only arrange credit facilities in relation to the payment of insurance premiums.

Withdrawing from a credit agreement

In the event that you may wish to withdraw from your credit agreement, you must provide us with oral or written instruction within 14 days of; agreeing to enter the credit agreement or receiving a copy of the agreement, whichever is the later date.

Withdrawal exemption

The right of withdrawal applies to all regulated consumer credit agreements with the exception of:

Agreements for credit exceeding £60,260

Cancellation of insurances

You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance must be returned to us or to the insurer concerned.

In the event of cancellation, charges for our services will apply in accordance with the ‘Payment for our services’ section above / our Tariff of Fees (attached/enclosed).

The terms of your policy may allow insurers to retain the premium in full or to charge short-period premiums in the event of cancellation before the policy expires. Please refer to Policy documents for full information.

Cancellation of Travel Insurance

Please note that Prestige and MIS operate zero cancellation rights.  Please refer to Policy documents for full information.

Ending your relationship with us

Subject to your immediate settlement of any outstanding premiums and fees, you may instruct us to stop acting for you and we will not impose a penalty.

Your instructions must be given in writing and will take effect from the date of receipt.  In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days’ notice.  Valid reasons may include non-payment of premium or fees, failure to provide requested documentation or information, deliberate failure to comply with terms set out within the ToB or insurer’s documentation, deliberate misrepresentation or non-disclosure or attempted fraud, use of threatening or abusive behaviour or language, or intimidation or bullying of our staff or suppliers.

Unless otherwise agreed in writing, if our relationship ends, any transactions previously initiated will be completed according to these Terms of Business.

You will be liable to pay for any transactions concluded prior to the end of our relationship and we will be entitled to retain commission received for conducting these transactions, together with all fees charged by us for services provided.

Handling money

Our financial arrangements with most insurance companies are on a ‘Risk Transfer’ basis.  This means that we act as the agents of the insurer in collecting premiums and handling refunds due to clients.  In these circumstances such monies are deemed to be held by the insurer(s) with which your insurance is arranged. However, if Risk Transfer does not apply, such monies will be held by us in a Statutory Trust account set up on accordance with FCA rules. Interest earned on monies held in such a Trust account will be retained by us.

We may hold your premium in respect of risks insured in the Republic of Ireland (ROI) in a client money bank account outside the United Kingdom (UK) in the ROI.  In such circumstances the legal and regulatory regime applying to the bank may differ for that in the UK.  In the event of failure of the bank your money may be treated in a different manner from that which would apply if the money was held by a bank in the UK.  The bank may not have accepted that it has no right of set-off or counterclaim against money held in a client bank account in respect of any sum owed on any of our other accounts even though we may have requested it to do so.

For the purpose of some transactions, client money may pass through other authorised intermediaries before being paid to the insurer.

Please note, Risk Transfer financial arrangements do not apply to the facility of the comparison system provided by a Third Party Company on our website.  This risk transfer information is in relation to customers dealing with Find Insurance i.e., via telephone or face to face sale.

Your responsibilities

If you are a commercial customer you have a duty to give a fair presentation of risk to the insurer.  This means that you should disclose every material circumstance relevant to the risk being insured following a reasonable search within your business to identify and verify such information.  This should include information which you and where applicable your senior management, persons responsible for arranging your insurance or other relevant third parties know or ought to know and should include all information that would influence the judgement of the insurer or that would put the insurer on notice that it needs to make further enquiries.

Examples of material circumstances are:

  • Special or unusual circumstances relating to the risk;
  • Any particular concerns which led you to seek insurance cover for the risk; and
  • Anything which those concerned with the class of insurance and field of activity in question would generally understand as being something that would be dealt with in a fair presentation of risks for this type of insurance.

The information must be presented in a way which would be reasonably clear and accessible to a prudent insurer.  If you are unsure whether to disclose any information you should speak to us.  You need to take into account the size & complexity of your business, and allow yourself sufficient time before your renewal date to consider and / or assess your insurance requirements.

Failure to provide a ‘fair representation’ may result in a number of remedies by the insurer.  If the breach was deliberate or reckless the insurer can void the contract and keep the premium.  If the breach was not deliberate or reckless the insurer can void the contract, proportionately reduce a claim settlement or amend the insurance policy terms and conditions then review the merits of a claim on this basis.

You should therefore always provide complete and accurate information to us when we ask you about the insurance risks your business faces before taking out a policy, at renewal and throughout the life of the policy.  This also applies to your responses in relation to any assumptions your may agree to in the process of applying for insurance cover.

If you are a consumer, you are responsible for answering any question in relation to any proposal for insurance cover honestly and to the best of your knowledge, providing complete and accurate information which insurers will require. This also applies to your responses in relation to any assumptions you may agree to in the process of applying for insurance cover.  This is particularly important before taking out a policy but also at renewal or if you make a mid-term amendment to your policy.

If you fail to disclose information, or misrepresent any fact which may influence the insurer’s decision to accept the risk or the terms offered, this could invalidate the policy and mean that claims may not be paid.

You must check all details on ay proposal form or Statement of Facts and pay particular attention to any declaration you may be asked to sign.  It is important that you read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply.  Particular attention must be paid to any warranties and conditions as failure to comply with them could invalidate your policy.

You must inform us immediately of any changes in circumstances which may affect the services provided by us or the cover provided by your policy.

If you are unsure about any matter, please contact us for guidance.

Use of personal data

We will process any personal information we obtain in the course of providing our services to you in accordance with the Data Protection Act 1998.  In administering your insurances it will be necessary for us to pass such information to insurers and other product or service providers which may also provide us with business and compliance support.

If you choose a Third Party Finance provider or an insurer’s direct debit facility as your method of payment please be aware that they may conduct credit checks prior to accepting your application for this facility.

We may also disclose details to relevant parties, as necessary, to comply with regulatory or legal requirements.  We may contact you in order to promote products or services which may be of interest to you.  We will not otherwise use or disclose the personal information we hold without your consent.

Some of the details you may be asked to give us, such as information about offences or medical conditions, are defined by the Act as sensitive personal data.  By giving us such information, you signify your consent to its being processed by us in arranging and administering your insurances.

Subject to certain exceptions, you will be entitled to have access to your personal and sensitive personal data for which you will be charged a fee of £10.

If at any time you wish us, or any company associated with us, to cease processing any of the personal data or sensitive personal data we hold, or to cease contacting you about products and services, please write to Operations Director, Find Insurance, 42/44 Spencer Road, Londonderry, BT47 6AA.

Credit Checks

We and other firms involved in arranging your insurance (insurers, other intermediaries or premium finance companies) may use public and personal data from a variety of sources including credit reference agencies and other organisations.  The information is used to help tailor a price, to ascertain the most appropriate payment options for you and to help prevent fraud.  Any credit reference search will appear on your credit report whether or not your application proceeds.  If you have any questions about this or any other matter, please do not hesitate to contact us.

Conflict of interests

Occasions can arise where we, or one of our associated companies, clients or product providers, may have a potential conflict of interest with business being transacted for you.  If this happens, and we become aware that a potential conflict exists, we will write to you and obtain your consent before we carry out your instructions and we will detail the steps we will take to ensure fair treatment.

Claims handling arrangements

If you have purchased your insurance policy via the comparison system on our website, you will need to contact your insurer using the contact details provided within your policy documentation.

If you have purchased your insurance policy with Find Insurance NI as your insurance broker, the administration of your claim will be dealt with in-house or by Motorists Insurance Services Ltd (MIS).

In respect to Travel Insurance, please use the claim number provided within your policy documentation for the administration of a claim.

You should take note of the required procedures in the event of a claim, which will be explained in the policy documentation.

Generally, insurers require immediate notification of a claim or circumstances which might lead to a claim.  We will employ due care and skill if we act on your behalf in respect of a claim.

 Acceptance of Terms of Business

Please contact us on: 028 71 311 171 if there is anything in these Terms of Business that you do not understand or with which you disagree, or if you have any questions, please contact your usual contact in the first instance who will be pleased to assist you.

If we do not hear from you within 30 days of receiving this Terms of Business or if we receive an instruction or confirmation to arrange cover on your behalf, whether or not within a 30 day period, this will be considered as your acceptance of the terms and conditions of this Terms of Business Agreement.