The Financial Conduct Authority (FCA)
The FCA is an independent watchdog that regulates financial services. It requires us to give you this document. Please use this information to decide if our services are right for you.
Bausor Hall Associates Limited is authorised and regulated by the Financial Conduct Authority. Our FCA number is 307419. Our permitted business is advising on, arranging, transacting and administering general insurance contracts. You can check this on the FCA’s Register by visiting the FCA’s website: www.fca.org.uk or by contacting the FCA on 0800 1116768.
In addition to the premiums charged by insurers, we may charge a professional fee to cover the placing and ongoing handling of your insurance. The specific amount and purpose of any professional fee and administration charges will always be advised to you in advance. We earn the entirety of our commission and / or fees when your risk is successfully placed and take our commission and /or fees immediately upon receipt of payment unless agreed otherwise with your insurer.Mid-term adjustments or cancellations
In the event of an adjustment that results in a return of premium or cancellation mid – term we will refund the premium due net of our full commission and any charge made by insurers. Where the premium is being paid by instalments we will claim our full commission along with any charge made by the insurers in the calculation of any outstanding monies.Payment Terms
We accept payment by cash, cheque, debit/credit card or the bankers automated clearing system (BACS). A charge will be made for credit card transactions, which will be advised at the time of payment. We require full payment of the premium within 14 days of cover being effected for new business or by the renewal date on existing business. You may be able to spread your payments through a credit scheme and we will give you full information about your payment options and details of the interest payable at the time we provide you with a quotation. In the event of non payment the debt will be referred to Debt Recovery Agents who will charge a 15% commission on any monies owed plus legal costs. These charges will be added to your debt.How we will handle your money
Our Statutory Trust account has been set up in accordance with the strict rules laid down by the Financial Conduct Authority. We are the Agent of Insurers for the collection of certain premiums. 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 the insurers. Any interest, or investment returns earned on your money whilst in our possession will be retained by us.
If any credit agreement payment is not met you acknowledge and agree that we may instruct on your behalf the relevant insurer to cancel the insurance and to collect any refund of premiums which may be made by the insurer and use it to offset any outstanding costs.Insurers
Whilst we take every care to check the financial stability of any firm with which we place business, we cannot be held responsible if that firm subsequently ceases to trade.Your duty to disclose information (Commercial Business)
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 all statements you make on proposal forms, claim forms and other documents are full and accurate. If a form is completed on your behalf, you should check that the answers shown to any of the questions are true
and accurate before signing the document. Failure to disclose any material information to your insurers could invalidate your insurance cover and mean that part or all of a claim may not be paid.Claims
As part of our service we can assist you with any claim you need to make. When you first become a customer we will give you details of how you can make a claim and tell you what your responsibilities are in relation to making claims. If you are ever in any doubt as to what action to take in the event of a claim, please contact us at the address given above.Complaints
It is our intention to provide you with a high level of customer service at all times. 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 at the address given above. Please address your complaint to Mr Brian Hall or Mr David Griffith. We shall supply you with a copy of our complaints procedure upon receipt of a complaint or at any time upon request. You will be advised of any redress available to you, should you believe the matter has not been resolved to your satisfaction. If you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service. We will advise you if you are able to refer any complaint to the Financial Ombudsman Service.Financial Services Compensation Scheme (FSCS)
We are covered by the 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. Most insurance contracts are covered for 90% of the claim. Further information is available from the Financial Services Authority or the FSCS. The FSCS can be visited on the web at www.fscs.org.uk or by contacting the FSCS on 020 7892 7300.Confidentiality
All personal information about you will be treated as private and confidential. We will only use and disclose information we have about you in the normal course of arranging and administering your insurance. Some Insurers may seek Credit References to offer preferential premiums and we may pass information about you to credit reference agencies for the purpose of arranging payments via instalments and may also pass to them details of your payment record with us. We will not disclose any information to any other parties without your consent, unless required to do so because we are authorised by the FCA, it is in the public interest, or we have to by law. We may, however, use the information we hold about you to provide information to you about other products and services which we feel may be appropriate to you. Under the Data Protection Act 1998 you have a right to see personal information about you that we hold in our records. If you have any queries in this regard please write to us.
If you do not wish to receive marketing information from us please let us know by contacting us at the address above.Claims and Underwriting Exchange Register and Motor Insurance Anti-Fraud Register
Insurers pass information to the Claims and Underwriting exchange register operated by Database Services Limited and the Motor Insurance Anti-Fraud Register compiled by the Association of British Insurers. The objective is to check information provided and to prevent fraudulent claims. Motor insurance details are also added to the Motor Insurance Database operated by the Motor Insurers’ Information Centre (MIIC), which has been formed to help identify uninsured drivers and may be accessed by the police to help confirm who is insured to drive. In the event of an accident, this database may be used by insurers, MIIC and your motor insurer to identify relevant policy information. Other insurance related databases may also be added in the future.Applicable Law
This Terms of Business document is subject to English Law and the jurisdiction of English Courts.
Please do not hesitate to contact us if you have any queries with regards to any points mentioned in our Terms of Business.
FCA Version 10 – 29/07/2013