Heritage Insurance Brokers – Terms of Business Agreement
Please read this document carefully; by accepting these terms, you are giving your consent to the actions described in the following sections.
Company Contact Details: Heritage Insurance Brokers. 4 Vicarage Road, Edgbaston, Birmingham. B15 3ES
Telephone: 0121 246 6060
Fax: 0121 246 8080
About the Firm
Heritage Insurance Brokers is a trading name of Norton Insurance Brokers Limited, authorised and regulated by the Financial Conduct Authority. Our Firm Reference Number (FRN) is 769110. You can check this on the FCA register by visiting the FCA website (www.fca.org.uk) or telephone the FCA on 0800 111 6768.
We offer a wide range of insurance products with access to leading insurers. For some types of insurance, we deal predominantly with a select few specialist insurers because of their expertise in certain fields. We will give you details of these arrangements before you make any commitment on any product we offer you and a list of the insurers used in these cases, will be available on request. We will explain the main features of the products and services that we offer you including details of the provider, main details of cover and benefits, any unusual restrictions or exclusions, any significant conditions or obligations and the period of cover. We will make a recommendation for you after we have assessed your needs, or advise you if we are unable to place your insurance. In some circumstances we provide information only and do not therefore make a personal recommendation. The documentation we provide will make it clear whether the sale is provided on an advised or non-advised basis.
Under the Consumer Insurance (Disclosure and Representation) Act 2012 it is your duty as a consumer to take reasonable care not to make a misrepresentation to an insurer. Under the act a consumer is defined as an individual who enters into an insurance contract wholly or mainly for purposes unrelated to the individual’s trade, business or profession. A failure by the consumer to comply with the insurers request to confirm or amend particulars previously given is capable of being a misrepresentation for the purpose of this act.
It is important that you ensure all statements you make on proposal forms, claim forms and other documents are full and accurate and we recommend that you keep a copy of all correspondence in relation to the arrangement of your insurance. Under the act an insurer has a remedy against a consumer in respect of qualifying misrepresentations in breach of the consumers’ duty of reasonable care where the insurer deems the misrepresentation to be either deliberate, reckless or careless. If in doubt about any point in relation to your duty to take reasonable care and subsequent qualifying misrepresentations please contact us immediately.
Please be aware that current UK money laundering regulations require us to obtain adequate ‘Know Your Client’ information about you. We are also required to cross check you against the HM Financial Sanctions List as part of the information gathering process.
We are obliged to report to the Serious Organised National Crime Agency any evidence or suspicion of financial crime at the first opportunity and we are prohibited from disclosing any such report.
We will not permit our employees or other persons engaged by them to be either influenced or influence others in respect of undue payments or privileges from or to insurers or clients.
Consumer Credit Licence
We are authorised and regulated by the Financial Conduct Authority in respect of our current Consumer Credit Licence.
Terms of Payment
Our payment terms are as follows (unless specifically agreed by us in writing to the contrary):
- New policies require immediate payment on or before the inception date of the policy,
- Alterations to existing policies require immediate payment on or before the effective date of the change,
- Renewals are due in full prior to the renewal date.
If payment is not received from you in accordance with the above terms, we or your insurer may be forced to cancel or lapse the relevant policy/policies, which could mean that part or all of a claim may not be paid. You may also be in breach of legally required insurance cover. If you choose to pay for your insurance premium using a finance provider your details will be passed onto them. We will provide you with a breakdown of the costs of your monthly instalments and subsequently a document outlining key features of their credit agreement with you, it is important that you take time to read this document and must contact us if you do not receive this. If you have any queries or questions, either about the service provided by the finance provider or their terms and conditions you should in the first instance contact them.
Where your policy is paid via the finance provider and you choose to renew your cover, we will again continue to pass your details to them. If any direct debit or other payment due in respect of any credit agreement you enter into to pay insurance premiums is not met when presented for payment or if you end the credit agreement we will be informed of such events by the finance provider. In certain circumstances we may be contractually obliged by the finance provider to notify your insurer to cancel the policy.
Where we are not contractually obliged to do so by the finance provider, if you do not make other arrangements with us to pay the insurance premiums you acknowledge and agree that we may, at any time after being informed of non-payment under the credit agreement, 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 this refund to offset the amount levied by the finance provider on the firm. If this amount is not sufficient to cover all our costs, we reserve the right to pursue any additional debt owed to the firm through a due legal process. You will be responsible for paying any time on risk charge and putting in place any alternative insurance and/or payment arrangements you need.
Upon receiving your strict acceptance to pay for insurance premiums through the finance provider, we will instruct them to proceed with your application for credit. This process will involve the provider searching public information that a credit reference agency holds about you and any previous payment history you have with that provider. The credit reference agency will add details of your search and your application to their record about you whether or not your application is successful.
Please read carefully the pre-contractual explanations and the information regarding the cost of credit (including any representative examples). Together they provide important information in relation to the credit facility available from the finance provider.
To use the finance provider’s facility, you must be resident in the UK, aged 18 years or over and hold a bank or building society current account which can support direct debit payments. Credit is available subject to status. Any payment we receive from you will be held by “The Broker Network Limited”, which pays insurers on our behalf, in a Non-Statutory Client Trust Bank Account held with RBS, HSBC, or Santander. In some cases, the payment we receive will be held on behalf of the provider with whom we arrange your policy as their agent. This means that any payment you make to us will be regarded as having been paid to the provider. This is known as risk transfer.
By operating a Non-Statutory Trust, The Broker Network Limited is permitted to, and may use such monies to cross fund client’s premiums and claims. Please make all cheques payable to “The Broker Network Limited”. By instructing us to place insurance on your behalf you give your informed consent to these Client Money procedures. If there are any matters which you do not understand, or do not accept, you should discuss them with us before proceeding.
We may pass the money you pay us to another intermediary. We will only do this where it is a necessary part of the process of arranging cover for you. Where this includes intermediaries outside of the UK, the legal and regulatory regime may be different from that of the UK. In the event of the intermediary failing money will be treated differently than if it was held by an intermediary in the UK. You may notify us if you do not wish your money to be passed to a person in a particular jurisdiction. No interest will be payable to customers in respect of the client account. Any interest earned will remain in the ownership of “The Broker Network Limited”.
Notification of Incidents/Claims
It is essential to notify us immediately of all incidents that may result in a claim against your insurance policy. You must do so whether you believe you are liable or not. Any letter or claim received by you must be passed on to us immediately without acknowledgement. Only by providing prompt notification of incidents can your insurance company take steps to protect your interests.
Your policy summary and/or policy document will provide you with details on who to contact to make a claim. Claims payment will be made in favour of you. If you require a payment to be made to a third party then you must confirm the required payee name and details and provide a brief explanation for your request. Please contact us for guidance on claiming under your policy.
If you are paying your premium by instalments, the full balance of the premium will be immediately due should a claim be reported.
Your policy document will detail your rights to cancel your insurance once you have taken it out. Depending on the type of policy you have purchased, you may be entitled to cancel within 14 or 30 days of either conclusion of the contract or receiving your policy documentation, whichever occurs later. This is often referred to as a cooling off period.
Where you cancel a policy before renewal you will be responsible for paying a charge to meet the cost of cover provided and administration expenses. Please see the Refunds section. To enable your insurer to process the cancellation, you will need to return certificates and any official documents to our office within 30 days of your notice to cancel.
There is no charge for credit or debit card transactions. In addition to the amount charged by insurers we also make charges to cover the administration of your insurance. Any applicable insurance premium tax will be shown on the documentation we provide to you. These fees are our maximum and are non-refundable:
- New policy / Renewal – £30.00
- Changes to policy – £25.00
- Lost certificate – £20.00
- Cancellation fee – £30.00
- Documents requested by post – £5.00
- Returned and post-dated cheques – £5.00
Where we arrange low or non-commission paying products, we will charge an arrangement fee not exceeding 30% of the premium and will advise you of the actual amount at the time of quotation or renewal. These fees may be subject to change. Where there are changes, we will confirm this clearly and the actual amount will always be disclosed to you before you commit to purchasing the product.
As insurance brokers our remuneration will be as a fee agreed with you and from commission paid to us by insurers based on the amount they charge you. You are entitled, at any time, to request information regarding any commission which we may have received as a result of placing or renewing your insurance cover. We take any commission once we receive your payment as cleared funds and prior to payment of the premium to the insurer.
We may occasionally receive additional remuneration from certain insurers for insurance policies we place with them, finance providers, claims management services and others. Please ask us should you require further information.
Where you choose to pay your premium by instalments, we may use a scheme operated by your insurer, or we may use a single Finance Provider, and we may receive a commission for introducing you to them. The firm will advise the customer of any commission payable by the lender in relation to a credit agreement where knowledge of the existence or amount of commission could affect the impartiality of the firm in recommending a particular product or have a material impact on the customers transactional decision.
Where a policy is cancelled before renewal, insurers charge to cover their costs with the balance refunded to you, subject to no claim having been made. Full details will be available in your policy. In the event of an adjustment giving rise to a return of premium the amount may be refunded or held to credit. Your attention is specifically drawn to the following:
Where your policy is cancelled after the expiry of the cooling off period or where you request a mid-term adjustment which reduces the cover provided under the policy, we reserve the right to charge you for our time and costs. This will usually result in us reducing the amount refunded to you by the FULL amount of the commission and fees we would have received had you not cancelled.
The reason for this is that the majority of our costs are incurred either in initially finding and setting up your policy or in the annual renewal process when we might check the ongoing suitability of the cover the policy offers. These costs are recovered through the commission we earn. If you cancel, this does not give us an opportunity to recover the costs we incurred and would often result in us making a loss. However, any charge made will not exceed the cost of the commission and fees we would have earned. In view of the cost involved in making changes to your policy, we will not issue refunds of less than £5.
It is our intention to provide you with the highest possible level of customer service at all times. However, we recognise that things can go wrong occasionally and if this occurs, we are committed to resolving matters promptly and fairly.
Should you wish to complain you may do so;
- In writing to the Complaints Manager – Andrew McDonald (see above for address)
- By telephone – 0121 246 6060
- By fax – 0121 246 8080
- By e-mail at email@example.com
- In person by visiting our office (see above for address)
Should you not be satisfied with our final response, you may be entitled to refer the matter to the Financial Ombudsman Service (FOS). More information is available on request or on their website (www.financial-ombudsman.org.uk). Further details will be supplied at the time of responding to your complaint.
Solvency of Insurers
We cannot guarantee the solvency of any insurer with which we place business. This means that you may still be liable for any premium due and not be able to recover the premium paid, whether in full or in part, should an insurer become insolvent.
Financial Services Compensation Scheme (FSCS)
We are covered by the Financial Services Compensation Scheme and you may be entitled to compensation from the scheme depending on the type of business and circumstances of the claim if we cannot meet our obligations. Further information about compensation scheme arrangements is available from the Financial Services Compensation Scheme at www.fscs.org.uk
Confidentiality and Data Protection
We are a data controller for the information you provide to us including individual, identification and financial details, policy history and special category data (such as medical or criminal history).
Details of our legal basis for processing your information, along with details of any third party recipient whom it may be necessary to share your personal data with in order to fulfil the contract, retention period for data held, security of your data, your rights under the General Data Protection Regulations (GDPR) including the right to complain can be found in our full ‘Privacy Notice’ attached to these Terms Of Business.
We will issue all documentation to you in a timely manner. Documentation relating to your insurance will confirm the basis of the cover and provide details of the relevant insurers. It is therefore important that the documentation is kept in a safe place, as you may need to refer to it or need it to make a claim.
A new policy/policy booklet is not necessarily provided each year, although a duplicate can be provided at any time upon request. You should always check the documentation to ensure all the details are correct and if this is not the case you should contact us immediately.
If any provision of these Terms is found to be invalid or unenforceable in whole or in part, the validity of the other provisions of these Terms and the remainder of the provision in question will not be affected. These Terms shall be governed by the laws of England and Wales and the parties agree herewith that any dispute arising shall be subject to the exclusive jurisdiction of the relevant court.
These Terms supersede all proposals, prior discussions and representations (whether oral or written) between us relating to our appointment as your agent in connection with the arranging and administration of your insurance. These Terms constitute an offer by us to act on your behalf in the arranging and administration of your insurance.
In the absence of any specific acceptance communicated to us by you (whether verbal or written) you are deemed to accept our offer to act for you on the basis of these Terms, by conduct, upon your instructing us to arrange, renew or otherwise act for you in connection with insurance matters.
“Even in these difficult times it was reassuring to have a friendly voice on the phone to sort my policy out. Top marks again for making a chore a pleasure.” – 5 stars, single vehicle insurance customer.
Top marks for making a chore a pleasure
“Excellent service. Could not be easier to renew my insurance policy. Would recommend to anyone.” – 5 stars, multi car customer
Could not be easier
“The lady who dealt with me was exceptionally helpful. Listening to all my requirements and responding to all my needs. Thank you” – 5 stars, multi car customer
“30 years with the same insurer because they are the best all round. Thanks.” – 4 stars, single vehicle insurance customer
30 years with the same insurer
“Very helpful staff. I dealt with Faisal and Emmanuel. Please thank them from me.” – 5 stars, single vehicle insurance customer
Very helpful staff
“Spoke to 2 different staff and both very helpful, especially as they were both working from home due to the lockdown.” – 5 stars, multi car customer
Very helpful, especially as they were working from home
“Have been with Heritage for ten yrs, and I have always had good efficient service, at a realistic price. The staff are very polite and helpful, Will keep using them :-)” – 5 stars, single vehicle insurance customer