Read our terms of business.
The FCA is the independent watchdog that regulates financial services including general insurance broking and requires us to provide this document to you which sets out our Terms of Business. Weald Insurance Brokers Ltd are authorised and regulated by the FCA. Our registration number is 301679.
We are a registered independent insurance broker which is a 100% owned subsidiary of Weald Broking Management Limited. The business is owned by the director shareholders who are all involved in the business.
We will treat all your personal information as private and confidential to us and anyone else involved in the normal course of arranging and administering your insurance, even when you are no longer a customer. We will not give anyone else any personal information except on your instructions or authority, or where we are required to do so by law, or by virtue of our regulatory requirements. We may use 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 the right to see personal information about you that we hold in our records. If you have any queries please write to us at our usual office address.
Our liability to you in connection with the services described in these Terms of Business is limited to £3,000,000. We will only accept liability for wrongdoings which result from a breach of our contractual obligations to you, our negligence, a breach of professional duty or our breach of trust. We do not accept liability for losses which are: a) contributed by your own negligence b) due to your failure to provide information we have reasonably requested about your insurance risks or c) not a reasonably foreseeable consequence of our actions. Notwithstanding the above, we place no restriction on our liability to you for: a) death or personal injury caused by our negligence b) fraud or fraudulent misrepresentation or c) breach of our statutory or regulatory obligations.
We are an independent insurance intermediary, who acts on our customers' behalf in arranging insurance. We will not provide you with any advice on the purchase of policies via our website and customers should make their own decision regarding the suitability of products offered. In respect of products purchased via the Cover4Yoga website, these will be from a single insurer for each type of business, who will be clearly identified in the quotation. In respect of policies purchased through the Cover4Yoga website you will not receive advice or a recommendation from us and you will then need to make your own choice about how to proceed. Guidance on the circumstances in which any policy is likely to meet customer's needs will be confirmed in a demands & needs statement with the quotation.
If you have an occasion to claim on your policy you must notify us immediately. We will promptly advise you, if appropriate issue you with a claim form and pass all details to your insurer. As part of our service, we will assist you with any claim you need to make and tell you what your responsibilities are in relation to making claims. 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.
We only deal with a single insurer for the Cover4Yoga product.
All quotations are valid for a specific period for which you will be advised. All are subject to a statement of facts, and are based upon the information provided by you. Any instruction for cover from you is only operative when you receive our confirmation that cover has been effected.
We cannot and do not guarantee the solvency or continuing solvency of any insurer used and clients should note that the financial position of an insurer can change after cover has been incepted. Liability for premium may arise in full or in part where the participating insurer becomes insolvent.
It is very important that you understand that 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, statements of fact, claim forms and other documents are full and accurate. Your attention is particularly drawn to the importance of the declaration which you will make as part of the process of buying your insurance. If you fail to disclose any information or change in circumstances to your insurers which could influence their decision to accept your insurance, or its cost, this could invalidate your insurance cover, and could mean that part or all of a claim may be not be paid. You are advised to keep copies of documentation sent to or received from us for your own protection. Please read and understand these terms and conditions and consult us if you are in any doubt.
When a policy is issued you are strongly advised to read it carefully, as it is this document, the schedule and any certificate of insurance which form the basis of the insurance contract you have purchased. If you are in any doubt over any of the policy terms or conditions you must seek our advice promptly as this is a binding agreement. You accept and understand these terms and conditions and that the documents are free from errors and omissions unless you inform us immediately upon receipt.
We reserve the right to make charges in addition to any insurance premiums, for the arranging, amending, renewing and cancellation of any policy of insurance. We normally make the following charges to cover the administration of your insurance:
Unless a valid credit agreement is in place, settlement of invoices to be on or before inception date for new insurances or renewal of existing insurances and 14 days for all other transactions. We are paid a commission by insurers for arranging your insurance with them. This is normally paid to us when the premium is paid to the insurer. Where no commission is received a non-refundable fee will be charged. We may also receive remuneration from insurers for work we carry out for them such as administration or data input. As a Commercial Client 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.
Our charges are in addition to any charge levied by insurers and are non-refundable. In the event of a claim before the premium is paid in full, any balance outstanding is payable immediately.
Under the terms of our agreements with the Insurance companies with whom we place business, we normally receive premiums you pay to us as Agent of the Insurer. You may have the additional protection of insurance companies accepting that monies paid to us are treated as being received by them (Risk Transfer). Please ask for details. No interest is payable to clients for money held by us in the course of arranging and administering your insurance. 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.
We will treat all your personal information as private and confidential to us and anyone else involved in the normal course of arranging and administering your insurance, even where you are no longer our client. We will not disclose any personal information except on your instructions or authority, or where we are required to do so by law or by virtue of our regulatory requirements. Under the Data Protection Act 1998 you have the right to see personal information about you that we hold in our records. Should you have any queries please write to us at our usual address.
From time to time we may find it necessary to transfer the insurances of a 'block' of our customers from one insurer to another, in order to maintain the current levels of cover and pricing or in order to obtain improved terms. We will always notify you of such changes when we wish to make them and where they directly involve your insurances with us. By acceptance of these Terms of Business, you hereby grant us your tacit approval to such moves and we will not require separate permission from you if the time comes for us to make such a 'block move'.
It is always our intention to provide a first class service. However, should you have any cause for complaint you should in the first instance contact Weald either orally or in writing at the address below. Your complaint will be acknowledged within 5 business days advising you who is dealing with the complaint and indicating when you may expect an answer. We will provide a formal written response within 20 business days from receipt of the original complaint. If the complaint cannot be resolved within this timescale we will write with an explanation as to the progress and the likely timescale involved. You will be advised of any further redress available to you should you believe the matter has not been resolved to your satisfaction. Your insurer also operates a complaints procedure, details of which are in your policy. Where we are unable to resolve your complaint to your satisfaction, you may wish to consult the Financial Ombudsman Service.
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. Insurance advising and arranging is covered for 90% of the claim, without an upper limit. For compulsory classes of insurance (for example, motor insurance and employers' liability insurance), insurance advising and arranging is covered for 100% of the claim without an upper limit. Further information about compensation scheme arrangements is available from the FSCS.
These Terms of Business with you will be governed by English Law and the jurisdiction of English courts.