WHO WE ARE
GS Group, GS Insurance Services Ltd, GS Insurance Services and GS Corporate Risk Services are trading names of George Stubbs Insurance Services Limited, (hereafter referred to in this document as “we” and “us”), registered address South Inch Business Centre, Shore Road, PERTH, PH2 8BW, registered in Scotland number SC177962. Telephone Number 01738 441555 and email address email@example.com
The Financial Conduct Authority, (“FCA”), is the independent watchdog that regulates financial services. We are an independent insurance intermediary authorised and regulated by the FCA. Our FCA registration number is 308729 and our details may be checked with the FCA by telephone 0800 111 6768 or on their website www.fca.org.uk/firms
Our permitted business is introducing, advising, arranging, dealing as agent and assisting in the administration and performance of general insurance contracts.
The FCA rules classify customers into two types, namely:
Some of the FCA rules vary, dependent on whether you are a Consumer or Commercial customer. Where such variations affect this Terms of Business, they have been clearly highlighted in the paragraph headings.
ACCEPTING OUR TERMS OF BUSINESS
By asking us to quote for, arrange or handle your general insurances, you are providing your informed agreement to these Terms of Business. We draw your particular attention to:
For your own benefit and protection you should read these Terms of Business 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 the above address.
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 transaction on your behalf. We will not in any circumstances guarantee the solvency of any insurer
WHOSE PRODUCTS DO WE OFFER
There may be instances where we need to refer cases to a third party specialist insurance broker. If this is the case, we will advise you the basis of this arrangement in good time before any such arrangements are finalised.
We are normally paid a commission by the insurance provider for arranging a policy. You may request information regarding any commission which we may have received as a result of placing your insurance business. We reserve the right to make additional charges to cover the cost of administration of your policy and in such an event we will notify you before the conclusion of the contract. We will be entitled to retain all fees relating to policies placed by us in respect of the full policy period.
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. Full payment of premium and fees is due before cover commences or as otherwise stated under the terms of credit or in the debit note, invoice or statement issued to you. We also draw your attention to the sections headed “Cancellation Rights” and “Termination of This Agreement”.
CONFLICTS OF INTEREST
Occasions can arise where we, or one of our 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 details the steps we will take to ensure fair treatment.
MOTOR INSURANCE DATABASE
Your motor policy details will be added to the Motor Insurance Database (MID), run by the Motor Insurers Bureau (MIB). MID data may be used by the DVLA for the purpose of Electronic Vehicle Licensing and by the Police for the purposes of establishing whether a driver’s use of the vehicle is likely to be covered by a motor insurance policy and/or for preventing and detecting crime. In the event of an accident the MID may be used by insurers and the Motor Insurers Bureau to identify relevant policy information. You can find out more about this from us or at www.mib.org.uk.
Insurers pass information to the Claims and Underwriting Exchange run by Insurance Database Services Ltd and the Motor Insurance Anti-Fraud and Theft Register run by the Association of British Insurers. The aim is to check information provided and also prevent fraudulent claims.
YOUR RESPONSIBILITIES – COMMERCIAL CUSTOMERS
You are responsible for providing the complete and accurate information which insurers require in connection with any proposal for insurance cover. This is particularly important before taking out a policy and at renewal but it also applies throughout the life of a 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 any proposal form or Statement of Facts and pay particular attention to a declaration you may be asked to sign.
YOUR RESPONSIBILITIES – CONSUMER CUSTOMERS
You are responsible for providing the complete and accurate information which insurers require in connection with any proposal for insurance cover. This is particularly important before taking out a policy and at renewal but it also applies throughout the life of a policy. Please take reasonable care to ensure that all information supplied is honest and to the best of your knowledge. If you do not, your policy may be cancelled or your claim rejected or not fully paid. You must check all details on any proposal form or Statement of Facts and pay particular attention to any declaration you may be asked to sign.
Where insurance intermediaries like us act as agents for an insurer (to receive and handle premiums, claims money and premium refunds) the insurer bears the risk for any losses that may arise from the (albeit unlikely) failure of an intermediary to make a transfer of premiums, claims money or premium refunds. Such failure could occur, for example, because it is lost through either party’s insolvency. When the insurer bears the risk for such losses, we and the industry, often refer to this as ‘Risk Transfer’. Depending on the insurer, we may act as their agent for the purpose of:
In theory, clients should be adequately protected because money (i.e. premiums) will be treated as being received by the insurer when we actually receive them. Claims money and premium refunds will only be treated as received by you when they are actually paid over to you.
We hold your money as Agent of the Insurer and if the conditions differ to those explained above this will be explained to you separately in writing, including where relevant, any (insurer specific) restrictions placed on the premiums, refunds and claims monies.
Where we do not act as agent of an insurer, when you pay your premium to us, we transfer it to a Non Statutory Trust client money account. This Trust money is strictly segregated from the firm’s money and is protected under Law in the unlikely event of the failure of the firm or an insurer.
A Non-Statutory Trust may be used to make advances of credit, to enable a client’s premium obligation to be met before the premium is remitted to us. Similarly, it allows claims and premium refunds to be paid to a client before receiving remittance of those monies from the insurer. We may only operate a non-statutory trust if we can meet certain conditions laid down by the FCA. We can reassure you that we meet these conditions and other requirements as set out under the FCA client money rules. If you are uncertain as to how the use of a Non-Statutory Trust affects you, please feel free to clarify with one of our members of staff
A copy of the Deed of Trust in relation to our Non-Statutory Trust Account is available on request or may be inspected at our premises during normal office hours. If you object to your money being held in a Non-Statutory Trust account, you should advise us immediately. Otherwise, your agreement to pay the premium together with your acceptance of these Terms of Business will constitute your informed consent to our holding your money in a Non-Statutory account. Interest earned on monies held in such a Non-Statutory Trust account will be retained by us.
TRANSFER OF CLIENT MONEY TO A THIRD PARTY
Your premium may be paid to someone other than your insurer -for instance we may pay your premium to another broker who has arranged the policy. If this is the case we will use appropriate skill, care and judgment in our selection of third parties in order to ensure adequate protection of client money.
If you have a complaint concerning the service you receive from us please write to the Compliance Manager at the address shown below. When dealing with your complaint we will follow our complaint handling procedures and a summary of these is available on request. Complaints we cannot settle may be referred to the Financial Ombudsman Service (FOS), subject to eligibility (see below).
Access to the FOS is available for complainants coming within one of the following categories at the time we receive their complaint:
If you make a valid claim against us in respect of the insurance we arrange for you and we cannot meet our obligations in full, you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS). This depends on the type of business and the circumstances of the claim. Insurance arranging and advising is covered for 90% with no upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim without any upper limit. Further information about compensation scheme arrangements is available from the FSCS on 0207 892 7300 or www.fscs.org.uk.
Where payment for the contract you have undertaken is by regular instalment, for example by direct debit, you give your consent to the contract being automatically renewed, without further reference to you, at the renewal date. We will contact you before your policy is due for renewal and provide you with renewal terms. If you do not wish to renew your policy, you must inform us prior to the renewal date. Otherwise, we will instruct the insurers to renew your policy automatically on the renewal terms offered. By accepting these Terms of Business, you are giving us your consent to deal with your renewals on a tacit renewal basis
CANCELLATION RIGHTS OF CONSUMER CUSTOMERS
You have a right to cancel the contract within a specified time period. The period of cancellation is 14 days for a general insurance contract. The cancellation period begins on the later of:
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 the insurer concerned. The terms of your policy may allow insurers to retain the premium in full or to change short-period premiums in the event of cancellation before the policy expires.
CLAIMS HANDLING & NOTIFICATION
We do not have a delegated authority to pay claims and therefore in the event of a claim will act on your behalf. Please note that some insurers state that notification of a claim to us is not deemed to be notification of a claim to them until they are formally notified of the claim either by us or by you. We endeavour to do this as quickly as possible in all instances. If you are involved in an accident or have occasion to claim on your policy for any other reason you must notify us immediately using our details given above / below, and we will promptly advise you and, if appropriate, issue you with a claim form and pass all details to your insurer. Alternatively, your policy document or insert another document name may include details on whom to contact and what information is needed in order to make a claim. In the event of a claim you should not admit liability, nor agree to any course of action other than emergency measures carried out to minimise the loss, until you have agreement from your Insurer.
LAW AND LANGUAGE APPLICABLE
Unless we agree otherwise: Scottish law will govern the provisions of the services covered by these terms and the Scottish courts will have exclusive jurisdiction over any dispute.
Under the Data Protection Act 1998 [DPA 1998], you or your appointed agent, have a right to inspect computer (and certain manual) records relating to yourself and your transactions through ourselves and where appropriate have it corrected or deleted. All requests for information should be made to the Data Protection Officer at the address shown below. As we treat all our clients’ records as confidential, we reserve the right to give you copies of your records, where in certain circumstances to release the original would compromise other clients’ confidentiality or where access to your data is necessary to protect your privacy. You do not have the right to demand access to data for any other purpose. We will charge a fee of £10 for such information released.
So that we may fully understand your circumstances and requirements, we will need to collect information about you which we will hold as Data Controllers under the Data Protection Act 1998. We will use and disclose the information we have about you in the normal course of arranging and administering your insurance. Our regulator the FCA requires us to keep records of our business transactions for minimum periods of time depending on the transaction type. However, we will not keep records longer than is necessary.
Where other companies and / or third parties provide services to us, then circumstances may arise which warrant the disclosure of more than just your basic contact details. On these occasions, such as processing business and obtaining compliance and regulatory advice, you are aware that information held by us may be disclosed on a confidential basis to such companies. You also agree that for the purposes described above your data may be transferred to countries outside the European Union and that information may be transferred electronically.
We may also pass information about you to credit reference agencies for the purposes of arranging payments by instalments, and may also pass to them details of your payment record with us.
You agree that we may on occasions use your personal details or share your information with other carefully selected organisations, so that they, or we can inform you of other products and services which may be of interest, either by telephone, post, or other appropriate methods
If you do not wish to receive such marketing information and contact from us, or allow us to disclose information about you to other parties for marketing purposes, simply tell us when you next call, or write to us.
CREDIT REFERENCE CHECKS
To help make sure you get our best deal, to ascertain the most appropriate payment options for you and to help prevent fraud, some insurers use public and personal data from a variety of sources, including credit reference agencies and other organisations. Any credit reference agency search will appear on your credit report whether or not your application proceeds.
TERMINATION OF THIS AGREEMENT
Termination is without prejudice to any transactions already initiated, which will be completed according to these terms of business unless otherwise agreed in writing. You may terminate your instructions to us at any time. We reserve the right to require such termination to be in writing. We may terminate this agreement by giving you a minimum of fourteen days notice. No penalty shall be payable on any termination but we shall be entitled to remuneration for work undertaken prior to such termination. Any such termination shall be subject to completion of any transactions, which are in progress at that time.
Please note that by accepting these Terms of Business you specifically agree to information about you being used / disclosed in the manner described.
Telephone: 01738 441555
Registered in Scotland SC177962, registered address – South Inch Business Centre, Shore Road, Perth, PH2 8BW, Authorised and regulated by the Financial Conduct Authority, FCA no 308729