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Terms of Business Agreement 

Law and Language
This Terms of Business is subject to English Law and the jurisdiction of the English Courts. We will use the English language for all communications, the contractual terms and conditions, and any information we are required to supply to you, before and during the duration of the contract.

Acceptance
The purpose of this agreement is to set out our professional relationship and detail the services we will provide to you.  For your own benefit and protection, you should read all of the information carefully and in particular, we would like to draw your attention to the “IMPORTANT INFORMATION” section. If you do not agree to any part of the information, please tell us. We assume that you accept the terms of this agreement unless we hear from you.

The Regulator 
The Financial Conduct Authority (FCA) is an independent watchdog that regulates financial services. 
The FCA has authorised us to advise, arrange, deal in and assist with the placing and administration of all types of General Insurance policies. 

Our FCA Register number is 456214 and you can check our status and permissions at www.fsa.gov.uk/register/home.do or by contacting the FCA on 0845 606 1234.

Confidentiality and Data Protection
We will exchange the information that you provide to us with insurance companies and other brokers or agents for the purposes of obtaining quotations and arranging cover, this may result in a credit check to confirm your identity and minimise the risk of fraud.  We will treat all information as private and confidential, and in strict accordance with our Privacy notice. 

Under the GDPR Regulation, you have a right to a copy of any personally identifiable information about you that we hold in our records, you can obtain details by writing to us at the usual address. A nominal charge might apply in providing the information to you.

We will, in addition use information for marketing similar products or services by us and carefully selected companies. Contact may include SMS text, post, telephone or e-mail. If you do not want us to use your information in this way, please let us know.

Call recording
Telephone calls to us and received from us will be recorded for training and quality purposes. Call recordings may also be supplied to the Insurer or appropriate 3rd parties if required to investigate a claim or complaint and for the detection and prevention of criminal activity or fraud.

Our Fees, Commission and Charges 
We usually receive a commission from the insurance provider with whom we place your business, and in such a case, the commission will be paid to us either when we are in receipt of cleared funds from you (or the premium finance company, if one has been used) or, when the insurer has received cleared funds from us in respect of the premium due under your policy. The individual agreements we have with each insurer will determine which of the two methods above is used to make this transfer of commission. We also receive commission for arranging finance agreements for the payment of insurance premiums and this is usually expressed as a percentage of the individual loan and is paid to us directly by the premium finance provider. We may also receive a commission or fee for passing introductions to other professional firms.

In addition, we may make the following charges to cover the administration of your insurance:    


STANDARD CHARGES  
Arranging new policies up to £ 25.00
Mid-term adjustments up to £ 25.00
Refunds (we refund NET of our commission) up to £ 25.00
Renewals up to £ 25.00
Cancellation (we refund NET of our commission) up to £ 25.00
Copy Documents up to £ 25.00

Policies voided or cancelled from inception by insurers will be treated as a cancellation and we will retain any commission and fees before returning the net premium to you.

Specific charges, which apply to individual policies, will be advised to you prior to the commencement of each contract applicable to that policy. The specific charge and purpose of any additional charges will always be advised to you in advance.

You are entitled to request at any time, information about the commissions that we may have received in connection with your insurance, if you want this information please contact us.

Our Service
We can act both as agent of insurer, and on behalf of you, the customer. We have in place management controls to deal with any conflicts of interest that might arise. Unless we advise you otherwise, we are acting on your behalf. We also act on behalf of insurers when collecting premiums under risk transfer.

We will ask questions to enable us to assess reasonably your insurance requirements, this may include checking information that we already hold about you and your existing insurance arrangements with us and other parties. We will provide you with advice and guidance, after assessing what you want and need and recommend a suitable policy based on our experience of dealing with similar risks. We will confirm to you the level of service we are providing as part of our sales process. In all cases our service will include arranging and administering your insurance, including helping you with on-going changes and assisting you if you need to make a claim. If we use the services of another intermediary to place your insurance we will advise you of the name of the intermediary we use and the name of the insurer. If you mislay your policy at any time, we will arrange a replacement policy document, if you request it.

Our Selection (Fair Analysis) 
We offer products from a wide range of insurance companies.  Our selection usually involves presenting to a reasonable number of insurance companies that will insure for the risk at hand, and this is called a fair analysis of the market.  

Sometimes we may only approach two or three insurers and this is a limited Panel, or in some cases, we may only approach one insurer, in either case, we will tell you the basis as part of our selling process. You can also request a list of the companies that form the Panel we have approached.

Financial Strength
We regularly assess the financial strength of the Insurance Companies and other intermediaries that we deal with. The process usually involves general observation of the financial ratings applied by independent rating agencies such as Standard & Poor’s and A M Best published with other readily available information within industry guides, newsletters and press releases. Whilst we take care to deal with companies that maintain reasonable solvency margins, we cannot guarantee their financial ability to pay claims.

Money
We will hold money that you pay to us in accordance with the regulators rules or under a risk transfer agreement with insurers. This will include holding your money in the following way.  

A statutory trust client bank account that only allows us to use the money held in trust on behalf of a customer for paying that customers’ premium to an insurance company and to pay premium refunds or claims we receive from that insurance company to the customer, once the premium has been received from that insurance company. We cannot use that customer’s money to pay another customers premium or refund. Also for this reason it is not possible for you to offset the refund against premiums owed on another policy. We do not pay any interest on premiums held by us in the course of arranging and administering your insurance.   By holding your money in this way it means that in the event that this firm becomes insolvent your money remains protected. 

In arranging your insurance we may employ the services of other intermediaries who are regulated by the FCA and your premium may be passed to these intermediaries for payment to insurers. These firms are also required to hold clients’ money in a separate trust account. We will also inform you if at any time we are required to pass your premium to firms that operate outside the UK where the protection may be different.

Payment Options
We will provide you with full details of all the payment options available to you when we provide you with your insurance premium.   If you choose to enter in a finance arrangement, this will be subject to interest charges that we will confirm to you when providing the full details.  Importantly, the arrangement you will enter into will be with the finance company not us.  You will be liable to pay their costs and charges if you do not keep up your repayments and cover is cancelled under your policy. This is because the agreement is between you, the policyholder and the finance company direct, not us or the insurer.

Cancellation
Please contact us if you wish to cancel any policy that we have arranged for you. Customers acting outside their trade or profession (Consumers) will usually have a legal right to cancel policies for any reason, subject to no claims having occurred, within 14 days of receiving the full terms & conditions. You will always be advised where this Right applies. A charge may apply for the period of cover provided and, in addition, an administration charge will apply as shown in the charges section above, cancellation under this right must be in writing, prior to expiry of the 14-day cancellation period, to our usual office address.

Insurance Premium Tax (IPT)
Your premium detailed in the policy will include IPT at the prevailing rate. 
Should the rate of IPT be amended by the Government, your premium will be amended by the insurer to reflect the change.

Some polices are subject to Value Added Tax (VAT) not IPT and should the rate of VAT be amended by the Government, your premium will be amended by the insurer to reflect the change

Complaints
Our aim is always to provide our customers with a first-class service; however sometimes things just go wrong. If that happens, we will go the extra mile to put it right. However, if you still feel that we have let you down, here is how to make a complaint. 

In the first instance, get in touch by one of the following:
in writing to Selena Jacobs, BQI Insurance, 6th floor, 12 Sheep Street, Wellingborough. NN8 1BL
or, by telephone on 01604 498300 
or, by email at compliance@bqigroup.com

Wherever possible, we will try to sort out the problem within three working days. If we cannot resolve the issue within 3 days, then our formal complaints procedure will kick in: 

1)    We’ll acknowledge your complaint promptly, to reassure you that we’ll be dealing with the issue as a matter of urgency, giving you the details of who will be handling the matter in our office, and details of the service of the Financial Ombudsman Service, where this applies.
1)    In the event that your complaint relates to activities or services provided by another party, we’ll advise you of this in writing giving the reasons for our decision, and ensure that your complaint is promptly forwarded to the appropriate party, in writing.
2)    We will aim to make a final response to you as soon as is practicable and keep you reasonably informed as to progress. We anticipate that we will be able to provide a substantive response to most complaints within eight weeks.
3)    By the end of eight weeks from receipt of your complaint, we’ll issue you with our final response, or issue a response that gives the reasons for the delay and indicates when we will be able to provide a final response. If you are dissatisfied with our response, or the delay at this time, you’ll have a period of six months in which you can refer the matter to the Financial Ombudsman Service, whose details are shown below.

When we provide our final response letter, we will try to ensure that we have taken into consideration any financial losses, or material inconvenience you may have suffered. If we do not feel that your complaint is justified, we’ll advise you of the reasons for our decision and we’ll also advise how you may pursue the complaint if you are still dissatisfied. 

The Financial Ombudsman Service provides consumers with a free, independent service for resolving disputes with financial firms. 
The FOS Consumer Helpline is on 0800 023 4567 and their address is: Financial Ombudsman Service, Exchange Tower, London, E14 9SR
https://www.financial-ombudsman.org.uk/

Authorised and regulated by the Financial Conduct Authority

Financial Services Compensation Scheme (FSCS)
If we are unable to meet our obligations, you may be entitled to compensation from the FSCS. If we have advised or arranged insurance for you this will be covered for 90% of a claim, without any upper limit, however compulsory classes of insurance (such as motor insurance) is covered for 100% of a claim.  Further information is available from the FSCS helpline on 0207 892 7300 and www.fscs.org.uk.  The FSCS is the UK’s statutory fund of last resort for customers of authorised financial services firms.  Compensation is usually payable if an authorised firm is unable or unlikely to pay claims usually because it has ceased trading or become insolvent


Termination
You may cancel this agreement with us at any time. You must provide at least 14 days written notice of instructions. We also reserve the right to cancel this agreement at any time. In any event, we will provide you with reasonably sufficient time to re-arrange your insurance and we will notify you of termination in writing together with an explanation if appropriate.