Terms of Business
John Ansell & Partners Ltd ‘We’
Overseas House
19-23 Ironmonger Row
LONDON EC1V 3QN
1. This Agreement comes into effect on the date you receive it from us and will continue until further notice. Should we amend these terms, we will endeavour to give you 10 business days notice of the change, unless it is impractical in the circumstances to do so.
2. We trade as John Ansell & Partners Ltd and/or British Activity Holiday Insurance Services (BAHIS)
3. We are authorised and regulated by the Financial Services Authority. The FSA (Financial Services Authority) is the independent watchdog that regulates financial services. Our FSA Register number is 306121. Our permitted business is advising on and arranging general insurance contracts. You can check this on FSA’s register by visiting FSA’s website www.fsa.gov.uk or by contacting FSA on 0845 606 1234
4. We will advise and make a recommendation for you after we have assessed your needs. We will also assist you in making and negotiating the settlement of claims.
5. We offer products from a range of insurers. There will be occasions when facilities or arrangements we have with one insurer or group of insurers are proposed to meet your requirements. We will make it clear to you when our proposals include these facilities or arrangements and where we have not investigated alternatives on your behalf. A list of the Insurers we select from and deal with in relation to your policy is available on request.
6. We will disclose all fees and charges to you. We make the following minimum charges per policy to cover the administration of your insurance: Arranging new policies £15.00. Mid term adjustments and renewals £15.00. Replacement or duplicate certificates or cover notes £15.00. We earn the entirety of our commission and/or fees when your risk is placed and take our commission/fees upon receipt of your premium unless agreed otherwise with your insurer. In the event of an adjustment or cancellation that results in a return of premium we will refund the premium net of our full commission and any charge made by insurers. If you pay by instalments we will claim our full commission and any charge made by insurers in the calculation of any outstanding monies.
7. You are entitled at any time to request information regarding any commission that we may have received as a result of placing your insurance business.
8. It is your duty and responsibility to provide complete and accurate information. Failure to disclose material information or any inaccuracies in the information given may lead to serious consequences. This could affect our advice in terms of the policy and the payment of a claim in the future.
9. Premiums must be paid to us by the due date unless agreed otherwise in writing by ourselves.
10. We are governed by strict rules pertaining to Client Money, set down by our Regulator. We operate a Statutory Trust Account. Whilst we have legal ownership over client monies, such money remains in the beneficial ownership of our clients. We are not permitted to use Client Money balances to provide credit for clients, or potential clients. We act as agents for some insurers for the collection of premiums, the payment of claims and refunds of premiums. Premiums are treated as being received by the Insurer when received in our bank account and any claims money or premium refund is treated as received by you when it is actually paid over to you. There are occasions where such transactions are restricted (for example, to receiving premiums only) and we will tell you if this is the case. We may earn interest on monies held in this account, for which you consent to our retaining.
11. Where payment for the contract you have undertaken is by regular instalment, for example by direct debit, you give your consent to the contract being automatically renewed, without further reference to you, at the renewal date. This means that insurance will continue to be provided to you, and you will be obliged to continue to pay for such insurance, unless you specifically contact us at renewal to notify us that you no longer require such insurance.
Your insurance policy may contain a right to cancel within a specified period of time of taking up the policy. You will be informed upon inception or renewal of your contract what cancellation rights apply to your policy and, if so, how and when you may exercise any such rights.
12. You should advise us immediately in the event of a claim against your insurance policy so that we can ensure that your claim is passed to the insurer promptly or so that we can inform you whether we can deal with the notification
Where we have authority to settle claims on behalf of an insurer this means that in the event of a claim we will act on their behalf and not yours.
13. Occasions can arise where we, or one of our other customers, will have some form of interest in business we are transacting for you, If this happens, or we become aware that our interest or those of our customers conflicts with your interests, we will inform you and obtain your consent before we carry out your instructions.
14. If you wish to register a complaint please contact us:
in writing John Ansell & Partners Ltd
Overseas House
19-23 Ironmonger Row
LONDON EC1V 3QN by phone 020 7251 6821
If you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service.
15. In order to comply with the Financial Services Authority rules we hold Professional Indemnity Insurance. Claims in excess of our indemnity limit may not be fully covered.
16. We are covered by 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 100% of the first £2000 and 90% of the remainder of the claim without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim without any upper limit. Further information about compensation scheme arrangements is available from FSCS
17. Any information that you provide to us in relation to our business relationship will be treated as confidential. Information will only be disclosed if we are required to do so by insurers in relation to the insurance arrangements, or if we are required to do so by the regulatory authorities. All confidential information will be handled appropriately.
18. Any personal data we hold will be handled in accordance with the requirements of Data Protection legislation and other consumer safeguards.
19. We undertake our activities in accordance with the laws of England and Wales and any disputes will be governed by and construed in accordance with the Laws of England and Wales