Terms of Business

Boston Insurance Services, 134 West St, Boston, PE21 8QZ, is authorised and regulated by the Financial Services Authority (FSA). We are permitted to arrange and advise on insurance, deal as an agent of insurers, and assist in claims handling with respect to non-investment insurance policies. You can check this on the FSA Register by visiting the website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

Your insurance is based upon the information provided to the insurance company and you must ensure that all such information is complete and accurate, and that any facts that may influence the insurer’s decision to accept and pay a valid claim are disclosed. Failure to disclose material information may invalidate your insurance cover and could mean that part, or all, of a claim may not be paid.

Protecting your information

All personal information about you will be treated as private and confidential (even when you are no longer a customer), except where the disclosure is made at your request, with your consent, in relation to administering your insurance or where law requires us. As part of our duties to the FSA, we may be asked to provide them with access to our customer records in order that they may carry out a review of our activities. Some or all of the information you supply to us in connection with your insurance proposal will be held on computer and may be passed to other insurance companies for underwriting and claims purposes. Under the Data Protection Act 1998 you have a right of access to see personal information about you that is held in our records, whether electronically or manually. If you have any queries, please write to Michael Cox at the above address. If there is a fee or charge payable, you will be advised before you commit to it.

Protecting your money

Prior to your premium being forwarded to the insurer, and for your protection, we either hold your money as an agent of the insurer(in which case your insurance is treated as being paid for), or we hold it in a clients bank account on trust for you. We may extend credit to other customers from this account and we may need to transfer your money to another intermediary in some cases. However your money will be protected at times because of our requirements under the FSA rules. We also reserve the right to retain interest earned on this account. By accepting these Terms of Business you are giving your consent for us to operate in this way.

Claims

Please refer to your policy summary or policy document if you need to notify a claim. In most cases you should contact your insurer’s claim line. If you need assistance or advice please call our office.

How to cancel

You may have a statutory right to cancel a policy within 14 days. Please refer to the policy summary or policy wording for further details and conditions. Please contact us if you wish to exercise your right to cancel. The insurer will make a charge for the cover provided and we will charge an arrangement fee of £20. This is subject to no claims occurring during the period of cover.

Different conditions apply to cancellations outside the period mentioned above. Practises vary between insurers, but, be aware that cancellation refunds are not normally given after a claim, and are otherwise calculated on a short period scale weighted in favour of the insurer as their costs are similar whether a policy has run for one month or twelve. We do not refund commission, since this was earned for arranging the policy (unless you are replacing the policy through our Agency). Instalment charges and Legal Expense policies are not refunded.

Charges & fees

In addition to premiums charged by the Insurer we may, at our discretion, make the following charges to carry out your instructions. Any charges are to cover our administrative costs for these specified activities: Mid-term adjustments £5, Replacement of Lost Certificates or cover notes issued for taxation £15, Referred or cheques not met for payment £10.

Quotations and Cover

Our quotations are guaranteed based on the information provided at the date given. We reserve the right to withdraw quotations before they are taken up, and to apply any changes notified to us by the underwriters after the quotation was given. Cover in all instances is subject to the insurer’s acceptance of the proposal form.

Credit Terms

Premiums are due for payment in full, prior to the start of the policy or the renewal date.

We can arrange for premiums to be paid over 3 payments, and a 5% service charge will apply based on the gross premiums, with a minimum service charge of £15. Alternatively, at an additional cost, some insurers offer Direct Debit plans, or subject to a satisfactory credit check we can arrange for the premium to be paid via a Credit Agreement. Written details are available on request.

Complaints

It is our intention to provide a high level of service at all times. If, however, you have reason to make a complaint about our service you should contact Michael Cox at the address shown at the beginning of this agreement. If we cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. Further information is available at: http://www.financial-ombudsman.org.uk/

Compensation arrangements

We are covered by the 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. The scheme covers 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS at: http://www.fscs.org.uk/