Terms of Business

• Give advice to you on non-investment insurance contracts.
• Arrange deals (policies) in non-investment insurance contracts
• Make arrangements with a view to transactions in non-investment insurance contracts (hold agencies with Insurers)
• Deal as agents in non-investment insurance contracts

Assist in the administration and performance of non-investment insurance contracts (claims administration and settlement negotiation)

Product Selection

Advice and a recommendation will be given to you after assessing your needs. We shall

• Select products from a range of insurers for retail and commercial clients
• Only deal with products from DAS for family/commercial legal protection and ULR for motor legal expenses cover
  

Charges/Cancellation

Our income is derived from commission, brokerage or other remuneration paid by the insurers or fees that will be agreed with you before proceeding.

Should a policy be cancelled mid term we will refund the return premium when received from the insurer, subject to a deduction of commission repayable to the insurer subject to a minimum charge of £10.00. The actual amount of the deduction will be advised to you at the time. Mid-term adjustments and the provision of duplicate documents will be subject to a £10 administration charge.

For insurance policies sold at a distance (exclusively by telephone or by post without any visits to our office) to a consumer (an individual acting for the purposes which are outside any business they may carry on) which are not policies intended to be less than 12 months duration, an initial cancellation period applies. This period applies for 14 days from receipt of this letter and details of the contract terms and conditions, or from inception date of the policy whichever is the later. The request to cancel may be verbal, by fax to 01782 717351, by e-mail to insurance@howellshone.co.uk or in writing. This must be followed by written instructions to cancel from and signed by the policyholder sent to us at our address. This should include any cover note, certificate or original confirmation of cover letter. A premium and charge will be made for the period of cover provided, proportional to the originally quoted premium.

Listening to our Clients

If you have a complaint about the advice you receive or a product you have bought, please contact the Compliance Officer at the address shown on this document. If following our subsequent investigation and response you are still not satisfied you may contact the Financial Ombudsman Service. Full details are available on request at any time.

You are protected by the Financial Services Compensation Scheme and may be entitled to compensation from the scheme if we cannot meet our liabilities to you following a complaint. This depends on the type of business and the circumstances of any claim. Full details are available on request at any time from this office. Eligible complainants are covered for 100% of the first £2,000 and 90% of the remainder. For compulsory classes of insurance the cover is for 100% of the claim.

Disclosure of Material Facts

You must disclose any material facts at inception, renewal and during the currency of your Insurance Contract. If you are aware of any facts or circumstances that may affect an insurer’s assessment of the risk, you should let us know as soon as possible. If in doubt as to whether a fact is material or not, please contact us to discuss the matter. The consequences of not disclosing material facts are that you policy may not be valid and so claims would not be paid.

Claims

If you need to make a claim you should contact us as soon as possible and we will advise you of the procedures to be followed. In assisting you with your claim we will act with due care, skill and diligence and avoid conflicts of interest. If there is a conflict of interest we will advise you in writing and seek your authority to continue to act for you.

Accounting Procedures

The FSA has authorised us to hold your money in a Non-Statutory Trust Account and this needs your informed consent. That permission imposes additional requirements upon our capital and systems for your protection. Our bankers are Lloyds TSB plc, 46 High Street, Newcastle, Staffs ST5 1QY. Your consent to this arrangement will be assumed unless you withdraw it.
We act as agent of the insurer for collection of premiums. This means that premiums are treated as being received by the insurers when paid into our client account. This is known as risk transfer

Interest on Client Money

No interest will be paid to retail clients upon single transactions unless it exceeds £20 after 25 working days at the standard rate offered by Lloyds TSB plc for deposits at call.

Transferring your Money to Third Parties

Your policy may be arranged directly with an insurer or through another intermediary, each of whom will be authorised and regulated by the FSA. This will require the transfer of your money to those other parties and your consent to this will be assumed unless you withdraw it.

Data Protection

You agree that:-

• All information supplied, together with any other information held about you can be stored on computer and/or paper files. That information may be disclosed to third parties for the purpose of processing your application.
• We may use the information held about you to contact you from time to time by post, fax, e-mail or telephone to bring to your attention additional products or services which may be of benefit to you.
  

Termination of Authority

You can withdraw our authority to act for you at any time without penalty, but you will be liable for any transaction effected or charges due before that final instruction is received.

Version 3 (04.01.2006)
HOWELL SHONE INSURANCE BROKERS LTD
Station Walk House, King Street, Newcastle, Staffs ST5 1EH