Terms of Business – Commercial

Commercial Terms of Business Agreement

Please read this document carefully. It contains important information which the Financial Conduct Authority requires us to give you and should be used to decide if our services are right for you. Please contact us if there is anything in this document which you do not understand or with which you disagree.

Who are we?

YesCanDo Insurance Services is a trading name of Glowsure Limited who are an independent insurance intermediary, registered in England & Wales under number 08548780. We are authorised and regulated by the Financial Conduct Authority and our reference number is 605051. This can be checked on the FCA’s Register by visiting the FCA’s website http://www.fca.gov.uk/register or by contacting the FCA consumer helpline on 0800 111 6768. Our trading address is Trademark House, Ramshill, Petersfield, Hampshire, GU31 4AT and our registered office address is Wellesley House, 204 London Road, Waterlooville PO7 7AN.

Our relationships

As an independent insurance intermediary we act as the agent of our client and are subject to the law of agency. However, in certain circumstances we may act for and owe duties to other parties. We will advise you when these circumstances occur so you will be aware of any possible conflicts of interest.

Our service

For all general insurance we will advise you and make a personal recommendation after we have assessed your insurance needs.

To be clear and fair, we will always tell you if we are giving you a recommendation or simply providing you with information for you to make your own choice.

We will explain the main features of the products and services that we offer you, including details of the provider, period of cover, main details of cover and benefits and any significant or unusual restrictions, exclusions, conditions, obligations or warranties.

Whose products do we offer?

We carry out ‘fair analysis’ of the market to identify a suitable product for all general insurance products we offer. This means that we compare products from a range of insurance providers in terms of cover, price, quality of service and other relevant features in order to select the right policies for you.

To access the insurance product that most suits your needs, we may use another Insurance Intermediary to help place your business.

We do not guarantee the solvency of any insurer we place business with.

Policy documentation

Policy documents will be issued in a timely manner and will confirm the basis of cover and details of the insurer(s). They will include a policy summary and details of when the premium is due.

A statement of demands and needs will confirm whether the contract has been personally recommended and if so, the reasons for making that recommendation.

We aim to provide you with renewal terms no less than 21 days before expiry of the policy and any mid-term changes to your policy will be provided in good time, prior to the change(s) taking effect.
Please read all policy documents carefully and inform us immediately of any incorrect information shown. If you have difficulty understanding anything, please let us know and we will assist you.

How are we paid?

We normally receive a commission from insurers and you may at any time ask us for details of this. Because the commission rates paid by insurers are variable and don’t always reflect the level of work we have carried out, we may also make service charges over and above the charges made by your insurers to cover the administration of your insurance policy. These charges will be agreed with you in advance.
In the event of cancellation, we do not refund any commission or fees.

Any premium refunds due will be reduced by any service charge and any other sums owing in respect of the policy.

Before the conclusion of your insurance contract (or at renewal), we will remind you of your right to request information regarding any commission payments we may receive as a result of placing your insurance business.

What will happen if you cancel?

Your insurance contract may include a cancellation clause, but cancelling a policy may work out expensive for you – please speak to us first. In some cases, there may be very little refund and in fact you may have to carry on paying your instalments. If there has been a claim under the policy, there will not be a refund. Our charges and those of the insurers are not refundable and we do not refund the commission paid to us for arranging the policy.

Your payment options

You are responsible for paying premiums by the due date. We normally accept payment by cheque, by debit or credit card (there is a 2% charge for credit cards), by BACS or by instalments. If you fail to pay your premium by the due date, your insurance policy may be cancelled by the insurer.

Instalments – If you chose to spread your payments by instalments, we can arrange this for you through a third party finance provider Close Brothers Premium Finance. In the event of a claim, you must continue to pay the instalments until the full premium and charges have been settled.

Your duty of disclosure

You have a duty to answer all questions honestly and accurately and to disclose any fact or circumstance which is (or could be) material to the risk being placed. A fact or circumstance is material if it could influence the judgement of an insurer in fixing the premium or deciding whether to accept the risk.

In addition to answering all questions honestly and accurately, you must also inform us of any changes to your policy details during the life of your policy, including at renewal.

Insurance is based on the information that you give to the insurer and if this information changes, your premium may go up or down. If the insurers are not fully informed or if the information you give them is wrong, then they will be entitled to refuse any claim. They might also be entitled to keep any premium you have paid.

For your protection, insurers maintain databases to prevent fraud and the information you give us may be subject to checks. Some Insurers may also carry out credit checks for similar reasons and to enable them to offer competitive terms. These checks may appear on your credit record. Acceptance of these terms will be assumed unless you tell us otherwise.

Protecting your money

We hold your premium payment in a statutory trust client money bank account. This means we keep client money separate from our own money by paying it into a client money trust account. We may only use the money held in trust on behalf of a customer for paying that customer’s premium to an insurance company and to pay premium refunds or claims we receive from the insurance company to that customer, once the money has been received from the insurance company. We are not allowed to use that customer’s money to pay another customer’s premium or refund and any interest earned on client money held by us will be retained by us for our own use.

Financial Services Compensation Scheme

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
zand further information about compensation scheme arrangements is available from the FSCS.

Data protection

We will keep your personal data safe at all times and in accordance with the Data Protection Act 1998. Your data may be used for marketing purposes to offer you other goods or services. If you do not wish this, you can opt out at any time by contacting us on 02393 120150.

Complaints

We do our best to provide you with the highest levels of customer service at all times, however, should you wish to make a complaint you should do so with our Customer Services Manager. You can do this in writing to YesCanDo Insurance Services, Trademark House, Ramshill, Petersfield, Hampshire, GU31 4AT, by email to insurance@yescando.com or by telephone on 02393 120150 detailing the nature of the complaint.

If we are unable to resolve your complaint by close of business on the next working day an acknowledgement will be sent no later than 5 working days after receiving your complaint confirming who is dealing with the complaint and when we will expect to respond to you.

Within 8 weeks of the date we receive a complaint we will provide you with our final decision.
If you remain dissatisfied you may be able to refer your case to the Financial Ombudsman Service, Exchange Tower, London E14 9SR, telephone 0800 023 4567 or fax text 07860 027 586 requesting a call back or email complaint.info@financial-ombudsman.org.uk. You can visit their website at www.financial-ombudsman.org.uk

Making a claim

You are responsible for notifying claims or circumstances which may give rise to a potential claim. Please read your policy documentation carefully as failure to notify in accordance with your policy requirements may lead to insurers rejecting your claim.

If you are aware of any incident which may give rise to a claim or if you wish to make a claim on your policy, please call us on 02393 120150

Or visit our website www.yescandoinsurance.com/claims-notification-form/ complete our online claim form.

Treating you fairly

Our aim is to treat all customers fairly. Whenever we deal with you we will work hard to ensure that the information we give is clear and understandable. In the event that something does go wrong we aim to put things where we have made a mistake.

Third party rights

Unless otherwise agreed between us in writing, no term of this agreement is enforceable under the Contracts (Rights of Third Parties) Act 1999.

Limitation of our liability to you

We aim at all times to act in your interest, with due diligence and with the standard of care reasonably expected in the market in which we operate.

We have insurance which will cover us and provide security for our clients if we cause them loss through our negligence. This insurance cover is in accordance with the requirements of the Insurance Mediation Directive and the Financial Services Authority. We hereby however restrict our liability to you to the limit of this insurance cover.

By this clause, we restrict our liability to you for our negligence, for anything we do, or fail to do, to the sum of €1,120,200 (euros) for a single claim and €1,680,300 (euros) to you in the aggregate. Such sums will be automatically increased in line with the increase in the European Index of Consumer Prices, when required by the above directive. This limit is in total and in respect of one or a series of related or unrelated transactions we carry out for you in our capacity as your insurance broker. The clause also applies to the negligence of any other party that we are legally responsible for.

This clause

  • Does not apply nor restrict any liability in law in respect of death, or personal injury caused by or arising from our negligence.
  • Does not restrict our liability to you in respect of fraud or fraudulent misrepresentation by us or our employees or agents.
  • Does not seek to, nor does it affect any obligation we owe to you under the regulatory system applying to financial services, including the Financial Conduct Authority, FOS or under the financial services and markets act (FSMA).
  • Is in respect of commercial customers as defined in the FCA handbook.
  • Applies in respect of any claim against us as a body corporate.
  • Applies equally (and to the same limit in total) to any claim or action taken against our directors, employees partners, consultants or those under a contract of (or for) services with us.
  • By agreeing to do business with us you expressly accept this limitation, and understand that it may not be amended without confirmation from us in writing.
  • You understand and agree that the provisions of this clause also apply to any claim you direct against an employee, director, partner, consultant or other individual connected with us in accordance with the Contracts (Rights of Third Parties) Act 1999 and therefore commit not to take separate or joint action against them.

Termination

Our services may be terminated by either party, giving of one month’s notice in writing to the other, or as otherwise agreed. In the event our services are terminated by you, we will be entitled to receive any and all fees or commissions due.

Governing law

The laws of England and Wales govern this agreement and any dispute is subject to the English courts.

Please read this document carefully. It contains important information which the Financial Conduct Authority requires us to give you and should be used to decide if our services are right for you. Please contact us if there is anything in this document which you do not understand or with which you disagree.

Who are we?

YesCanDo Insurance Services is a trading name of Glowsure Limited who are an independent insurance intermediary, registered in England & Wales under number 08548780. We are authorised and regulated by the Financial Conduct Authority and our reference number is 605051. This can be checked on the FCA’s Register by visiting the FCA’s website http://www.fca.gov.uk/register or by contacting the FCA consumer helpline on 0800 111 6768. Our trading address is Trademark House, Ramshill, Petersfield, Hampshire, GU31 4AT and our registered office address is Wellesley House, 204 London Road, Waterlooville PO7 7AN.

Our relationships

As an independent insurance intermediary we act as the agent of our client and are subject to the law of agency. However, in certain circumstances we may act for and owe duties to other parties. We will advise you when these circumstances occur so you will be aware of any possible conflicts of interest.

Our service

For all general insurance we will advise you and make a personal recommendation after we have assessed your insurance needs.

To be clear and fair, we will always tell you if we are giving you a recommendation or simply providing you with information for you to make your own choice.

We will explain the main features of the products and services that we offer you, including details of the provider, period of cover, main details of cover and benefits and any significant or unusual restrictions, exclusions, conditions, obligations or warranties.

Whose products do we offer?

We carry out ‘fair analysis’ of the market to identify a suitable product for all general insurance products we offer. This means that we compare products from a range of insurance providers in terms of cover, price, quality of service and other relevant features in order to select the right policies for you.

To access the insurance product that most suits your needs, we may use another Insurance Intermediary to help place your business.

We do not guarantee the solvency of any insurer we place business with.

Policy documentation

Policy documents will be issued in a timely manner and will confirm the basis of cover and details of the insurer(s). They will include a policy summary and details of when the premium is due.

A statement of demands and needs will confirm whether the contract has been personally recommended and if so, the reasons for making that recommendation.

We aim to provide you with renewal terms no less than 21 days before expiry of the policy and any mid-term changes to your policy will be provided in good time, prior to the change(s) taking effect.
Please read all policy documents carefully and inform us immediately of any incorrect information shown. If you have difficulty understanding anything, please let us know and we will assist you.

How are we paid?

We normally receive a commission from insurers and you may at any time ask us for details of this. Because the commission rates paid by insurers are variable and don’t always reflect the level of work we have carried out, we may also make service charges over and above the charges made by your insurers to cover the administration of your insurance policy. These charges will be agreed with you in advance.
In the event of cancellation, we do not refund any commission or fees.

Any premium refunds due will be reduced by any service charge and any other sums owing in respect of the policy.

Before the conclusion of your insurance contract (or at renewal), we will remind you of your right to request information regarding any commission payments we may receive as a result of placing your insurance business.

What will happen if you cancel?

Your insurance contract may include a cancellation clause, but cancelling a policy may work out expensive for you – please speak to us first. In some cases, there may be very little refund and in fact you may have to carry on paying your instalments. If there has been a claim under the policy, there will not be a refund. Our charges and those of the insurers are not refundable and we do not refund the commission paid to us for arranging the policy.

Your payment options

You are responsible for paying premiums by the due date. We normally accept payment by cheque, by debit or credit card (there is a 2% charge for credit cards), by BACS or by instalments. If you fail to pay your premium by the due date, your insurance policy may be cancelled by the insurer.

Instalments – If you chose to spread your payments by instalments, we can arrange this for you through a third party finance provider Close Brothers Premium Finance. In the event of a claim, you must continue to pay the instalments until the full premium and charges have been settled.

Your duty of disclosure

You have a duty to answer all questions honestly and accurately and to disclose any fact or circumstance which is (or could be) material to the risk being placed. A fact or circumstance is material if it could influence the judgement of an insurer in fixing the premium or deciding whether to accept the risk.

In addition to answering all questions honestly and accurately, you must also inform us of any changes to your policy details during the life of your policy, including at renewal.

Insurance is based on the information that you give to the insurer and if this information changes, your premium may go up or down. If the insurers are not fully informed or if the information you give them is wrong, then they will be entitled to refuse any claim. They might also be entitled to keep any premium you have paid.

For your protection, insurers maintain databases to prevent fraud and the information you give us may be subject to checks. Some Insurers may also carry out credit checks for similar reasons and to enable them to offer competitive terms. These checks may appear on your credit record. Acceptance of these terms will be assumed unless you tell us otherwise.

Protecting your money

We hold your premium payment in a statutory trust client money bank account. This means we keep client money separate from our own money by paying it into a client money trust account. We may only use the money held in trust on behalf of a customer for paying that customer’s premium to an insurance company and to pay premium refunds or claims we receive from the insurance company to that customer, once the money has been received from the insurance company. We are not allowed to use that customer’s money to pay another customer’s premium or refund and any interest earned on client money held by us will be retained by us for our own use.

Financial Services Compensation Scheme

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
zand further information about compensation scheme arrangements is available from the FSCS.

Data protection

We will keep your personal data safe at all times and in accordance with the Data Protection Act 1998. Your data may be used for marketing purposes to offer you other goods or services. If you do not wish this, you can opt out at any time by contacting us on 02393 120150.

Complaints

We do our best to provide you with the highest levels of customer service at all times, however, should you wish to make a complaint you should do so with our Customer Services Manager. You can do this in writing to YesCanDo Insurance Services, Trademark House, Ramshill, Petersfield, Hampshire, GU31 4AT, by email to insurance@yescando.com or by telephone on 02393 120150 detailing the nature of the complaint.

If we are unable to resolve your complaint by close of business on the next working day an acknowledgement will be sent no later than 5 working days after receiving your complaint confirming who is dealing with the complaint and when we will expect to respond to you.

Within 8 weeks of the date we receive a complaint we will provide you with our final decision.
If you remain dissatisfied you may be able to refer your case to the Financial Ombudsman Service, Exchange Tower, London E14 9SR, telephone 0800 023 4567 or fax text 07860 027 586 requesting a call back or email complaint.info@financial-ombudsman.org.uk. You can visit their website at www.financial-ombudsman.org.uk

Making a claim

You are responsible for notifying claims or circumstances which may give rise to a potential claim. Please read your policy documentation carefully as failure to notify in accordance with your policy requirements may lead to insurers rejecting your claim.

If you are aware of any incident which may give rise to a claim or if you wish to make a claim on your policy, please call us on 02393 120150

Or visit our website www.yescandoinsurance.com/claims-notification-form/ complete our online claim form.

Treating you fairly

Our aim is to treat all customers fairly. Whenever we deal with you we will work hard to ensure that the information we give is clear and understandable. In the event that something does go wrong we aim to put things where we have made a mistake.

Third party rights

Unless otherwise agreed between us in writing, no term of this agreement is enforceable under the Contracts (Rights of Third Parties) Act 1999.

Limitation of our liability to you

We aim at all times to act in your interest, with due diligence and with the standard of care reasonably expected in the market in which we operate.

We have insurance which will cover us and provide security for our clients if we cause them loss through our negligence. This insurance cover is in accordance with the requirements of the Insurance Mediation Directive and the Financial Services Authority. We hereby however restrict our liability to you to the limit of this insurance cover.

By this clause, we restrict our liability to you for our negligence, for anything we do, or fail to do, to the sum of €1,120,200 (euros) for a single claim and €1,680,300 (euros) to you in the aggregate. Such sums will be automatically increased in line with the increase in the European Index of Consumer Prices, when required by the above directive. This limit is in total and in respect of one or a series of related or unrelated transactions we carry out for you in our capacity as your insurance broker. The clause also applies to the negligence of any other party that we are legally responsible for.

This clause

  • Does not apply nor restrict any liability in law in respect of death, or personal injury caused by or arising from our negligence.
  • Does not restrict our liability to you in respect of fraud or fraudulent misrepresentation by us or our employees or agents.
  • Does not seek to, nor does it affect any obligation we owe to you under the regulatory system applying to financial services, including the Financial Conduct Authority, FOS or under the financial services and markets act (FSMA).
  • Is in respect of commercial customers as defined in the FCA handbook.
  • Applies in respect of any claim against us as a body corporate.
  • Applies equally (and to the same limit in total) to any claim or action taken against our directors, employees partners, consultants or those under a contract of (or for) services with us.
  • By agreeing to do business with us you expressly accept this limitation, and understand that it may not be amended without confirmation from us in writing.
  • You understand and agree that the provisions of this clause also apply to any claim you direct against an employee, director, partner, consultant or other individual connected with us in accordance with the Contracts (Rights of Third Parties) Act 1999 and therefore commit not to take separate or joint action against them.

Termination

Our services may be terminated by either party, giving of one month’s notice in writing to the other, or as otherwise agreed. In the event our services are terminated by you, we will be entitled to receive any and all fees or commissions due.

Governing law

The laws of England and Wales govern this agreement and any dispute is subject to the English courts.