Terms of Business
G & C Insurance Services Ltd is registered in Northern Ireland No: NI646943 – Registered Address: 81 High Street, Bangor, Co Down BT20 5BDG & C Insurances Ltd T/a We’resure Insurance Services is authorised and regulated by the Financial Conduct Authority – Financial Services Register No 788597
- Our Service - We are an independent insurance broker, who acts on our customers’ behalf in arranging insurance. Our services include: advising You on Your insurance needs; arranging Your insurance cover with insurers to meet Your requirements; and helping You with any ongoing changes You have to make.
- Claims – Motorist Insurance Services Ltd (MIS) will deal with the administration of your claims unless your policy document indicates that you should deal directly with them. Please contact us for clarification if required.
- Important Information (consumer customers only) 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 misrepresentation, please contact us immediately.
The duty of fair presentation (non-consumer customers only) It is your responsibility to provide a fair presentation of the insurance risk based on you conducting a reasonable search for information. This could require you to obtain information from senior managers within your organisation or other parties to which the insurance relates or who carry out outsource functions for your business. You must disclose every material circumstance which you know or ought to know, or failing that, disclose sufficient information to put your insurer on notice that it needs to make further enquiries. You must ensure that any information you provide is correct to the best of your knowledge and representations that you make in expectation or belief must be made in good faith. If you fail to make a fair presentation of the risk this may result in additional terms or warranties being applied from inception of the policy or any claim payment being proportionately reduced. In some cases, this could result in your policy being declared void by an insurer and your premiums returned. Any deliberate or reckless breach of the duty of fair presentation could result in your policy being declared void by an insurer with no refund of premium If in doubt about any point in relation to material circumstances and reasonable search please contact us immediately.
- Insurer Security. It is important to us that business is placed with insurers who are of a financial standing and reputation to support the policy being underwritten. We cannot and do not accept liability for any losses that might be suffered by you if an insurer becomes financially insolvent.
- Premiums and Finance – We accept full payment of your premium by cheque, cash, and debit or credit card. It may be possible to spread your premium payment through either our instalment scheme or one offered by an insurer or third-party finance provider. Interest will be payable on any instalment scheme. On insurance business where invoices are sent, they will show the premium due date. It is important that payment is made to us before the due date, or immediately upon receipt if past the due date. Failure to meet the payment due date may mean that your insurer’s obligation to you under the policy are terminated. We reserve the right to retain policy documents, other than those required by law, while we are awaiting additional information, documentation or payment of premium from you.
Premiums that we collect from you will be segregated in a Client Money Bank Account and held by us as trustees on your behalf. This Account is a non-statutory trust account and as permitted under the FCA rules, we may agree to extend credit to other customers using funds from this Account. We have in place adequate systems and controls to monitor and manage any credit risk potentially arising from this arrangement. Certain insurers have agreed that premiums we collect as their agent and hold in a Client Money Bank Account will be treated as having been received by them. If we become insolvent, customers will have a prior claim on the funds in the Account according to their respective interest in the client money. Any costs associated with the distribution of the funds will be borne by the trust. interest earned on funds in the Client Money Bank Account will be retained by us.
6.Quotation/Renewal – Quotations will be based on the information provided by you and are valid from the date of cover, until the end of the same month. Renewal invitations will be issued to you in good time prior to your renewal date
- Warranties/Subjectivities - You must comply with any warranties (whether express or implied) contained within the insurance we have arranged. Failure to comply can result on the insurer automatically terminating your policy and/or invalidating your claims. Further, where insurance has been placed with subjectivity, it may be invalidated, or coverage prejudiced whilst a subjectivity is outstanding.
- Remuneration. Our normal means of remuneration is from commission or brokerage earned on insurance placed, or by way of a fee negotiated, and agreed with you. We will charge you the following fees for our service -
- Policy Arrangement / Renewal £10Mid Term Adjustments £10Mid Term Cancellations £25Replacement / duplication certificates or cover-notes £10Dishonoured cheques or failed direct debit £20
- Cancellation – Depending on the type of policy purchased You may be entitled to a cooling off period of 14 days from the date of inception, or the receipt of policy documentation if later, during which time you can decide whether you wish to continue with the insurance policy. To cancel during the cooling off period please write to us returning any valid certificate of insurance. The insurer may charge for the time the insurance was in force and we may charge a fee. Both parties to an insurance contract have the right to cancel at any time by giving 7 days’ notice in writing. If you wish to cancel, please write to us returning any valid certificate of insurance. If we or the insurer wish to cancel the policy for a valid reason, we will write to you at the last known address on our records explaining the reason. In the event of cancellation outside the cooling off period we will retain all commission and fees.
- Confidentiality & 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 General Data Protection Regulations (GDPR) including the right to complain can be found in our “Privacy Notice” attached to these terms of business.
- Financial Services Compensation Scheme, we are covered by the Financial Service Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. Further information about compensation arrangements is available from the Financial Services Compensation Scheme at www.fscs.org.uk.
- While it is our intention to provide excellent customer service, there may be occasions when you feel we have not met that standard. If you wish to make a complaint, a copy of our Complaints Handling Procedure is available on request. If you are not satisfied with our final response you may refer the matter to the Financial Ombudsman Service. See www.financial-ombudsman.org.uk for further information.
- Governing Law - The law of Northern Ireland will apply to this contract unless you and we agree otherwise, or at the date of the contract you are a resident of, (or in the case of a business, your registered office or principal place of business is in), England, Scotland, Wales, Channel Islands or the Isle of Man, in which case, in the absence of an agreement to the contrary, the law of that country will apply.
By incepting or continuing with your insurance policy you are accepting the above Terms of Business.