PFIIS : Price Forbes International Insurance Services

Terms of Business Personal

Price Forbes International Insurance Services (‘IIS’)

Terms of Business & Important Details

This document sets out important terms that form the basis on which International Insurance Services (“IIS”) agrees to act for you, and is intended to have contractual effect between us. Please, therefore, read the document carefully as, if you instruct us to act on your behalf, these terms will define our respective obligations in the absence of any written variation to them, or the existence of any other written agreement between us.

1. Who Are We?

IIS is a division of Price Forbes & Partners Ltd (“Price Forbes”).

Price Forbes is an insurance and reinsurance Broker accredited by Lloyd’s of London and incorporated in England & Wales.

Price Forbes is authorised and regulated by the Financial Services Authority (“FSA”). We are permitted to advise on and arrange general insurance contracts. Our FSA Reference Number is 449988, and our regulatory details can be verified by visiting the FSA’s website at www.fsa.gov.uk/register, or by telephoning the FSA on +44 (0)845 606 1234.

Our aim is to meet your needs in the most effective and efficient manner. In fulfilling that objective, we will exercise the skill and care to be expected of a prudent and professional insurance broker in placing insurance business and collecting claims. Our dealings with you will be open and fair, and will be conducted to the highest standards of integrity.

2. Who Owns Us?

IIS is a trading name of Price Forbes which is a private limited company incorporated in England & Wales.

3. The Services We Provide

We act as agent of the insurer in issuing policies and administering this insurance. We will not provide you with advice or a recommendation about this policy. We will give you information about a product but cannot make or recommend a decision for you on the suitability of this insurance.

4. Your Information

Data Protection

We will hold and process your personal data for the purpose of placing and administering your insurance. The information may also be passed to third party insurers or their agents. You agree that all personal data you supply is accurate, and you have the specific consent of those other persons insured to disclose their personal data. You can ask us for more information about this.

To make managing your insurance more convenient, we will normally respond to queries about this insurance from the other parties named on the policy. If you would like someone else to be able to deal with your policy for you on a regular basis please let us know. In some exceptional circumstances we may also deal with other people who call us on your behalf. If at any time you would prefer us to deal only with you, please let us know.

Information We Collect

The information we collect about you in relation to the coverage sought enables us to properly underwrite and review your proposal for insurance, and to properly investigate, administer, and resolve any claims and we may contact you, or the other named insured parties, by telephone, fax, mail or email for additional information.

How We Will Use The Information Supplied

We are dedicated to protecting your personal information and will only use or disclose it for the purposes set out below;

in the normal course of our business to provide the products and services you have requested
to identify you when you contact us
to administer your policy and deal with any claims
to send you renewal notices
for underwriting & fraud prevention purposes
to respond to information demands by a court or regulatory body that has competent jurisdiction as a matter of law.

Your information will be kept for as long as is required by the business for these purposes.

You have the right at any time to access, review and amend any personal information stored by us. This can be done by emailing enquiries@pfiis.com detailing your request. This may be subject to a charge solely to cover our costs and, if so, you will be told what this charge is once you have made your request.

5. Complaints

Whilst we aim to offer a high standard of service at all times, we recognise that things can go wrong and we may fail to meet your expectations.

If you have any questions or concerns about your policy or the handling of a claim you should, in the first instance, refer to your usual contact or Simon Dell at IIS.

If you are unable to resolve the situation and wish to make a complaint you can do so at any time by contacting the Compliance Manager by post or telephone on +44 (0)20 7015 2890 or by emailing compliance@priceforbes.com, quoting the relevant policy number.

If possible, we will endeavour to rectify the problem immediately. If we are unable to deal with the problem immediately, your complaint will be dealt with as outlined:

Your complaint will be acknowledged, in writing, within 2 working days. We will tell you who will be dealing with your complaint and how long it should take to provide a final response (this will normally be within 20 working days). If we are unable to respond with a final response within the stated timeframe, we will keep you informed of the situation.
If, once you have received our final response (or eight weeks after you have made a complaint), you are not satisfied with our response, you may be eligible to refer your complaint to the Financial Ombudsman Service. Further details will be provided at the appropriate state of the complaints process. This complaint procedure is without prejudice to your right to take legal action.

Should you be dissatisfied with our response, you may approach the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR, +44 (0)845 080 1800. We will provide you with full details of our complaint handling procedure if you make a complaint, or at any other time on request.

6. Compensation

Financial Services Compensation Scheme (”FSCS”)

Price Forbes is covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. Further information about compensation scheme arrangements is available from the FSCS on www.fscs.org.uk. Alternatively, please discuss with our Compliance Department who will be able to advise you on whether you are potentially covered by the Scheme.

7. Renewal

We will automatically invite your renewal (or advise if insurers are unwilling to offer renewal) in advance of the expiry of your policy at least 21 days prior to your renewal using the contact details you have provided to us. It is critical, therefore, that you advise us of any change to your contact details.

8. Premium Payment

Cleared payment must be received by us within 14 days of inception of your policy. You may pay for your policy by credit card, debit card, cheque or bank transfer. Cheques should be made payable to Price Forbes & Partners Ltd and your name and policy number must be written on the back of the cheque.

Payments by credit or debit card or bank transfer must have the policy number as the reference.

If payment is not received within this time, your policy will be cancelled from inception.

9. Client Money

We hold Client Money (comprising money from clients and money held on behalf of insurers) in accounts that are designated non-statutory trusts. We are permitted to, and may, use client money held on behalf of one client to pay another client’s premium before that premium is received from that other client, and to pay claims and premium refunds to another client prior to receiving payment from insurers.

We are not permitted to extract our own commissions before the relevant premiums have been received from clients. We will also retain interest on the general monies held in these accounts.

If you do not wish us to hold money in this way, we will not be able to act for you. All Client Money is held in accordance with FSA rules and is segregated from our own funds.

10. Your Duty to Disclose Information

It is your responsibility to ensure that the information provided by you, including that in any proposal form is accurate and discloses all ‘material facts’. Material facts are those which would influence any insurer’s decision as to whether to underwrite the policy or the terms and conditions to impose.

Failure to disclose material facts or circumstances known to you (or which ought to be known to you) may invalidate the cover in whole or in part or enable insurers to repudiate liability to pay claims. The duty to disclose continues during the policy period and at any subsequent renewal. Any such changes to material information (including changes to vehicle, address, occupation, drivers, convictions, or loss, theft or fire of vehicle) must be notified immediately.

The terms and conditions of any policy of insurance may also contain express disclosure conditions or warranties which must be strictly complied with. If you are in any doubt as to whether information is material, you should disclose it.

11. Documentation

We have enclosed copies of Insurers Key Facts document (incorporating a summary of the Policy terms and limitations) and this Terms of Business Document setting out the basis of the services we will provide to you. In addition we have included a quotation statement that sets out our understanding of your demands and needs.

We particularly draw your attention to the Key Facts document that sets out a number of the principal benefits and limitations of the coverage we have arranged for you.

We will provide you with a formal policy within 5 days of the inception date of your policy.

In this respect we ask you to carefully review all the documentation provided by us and to advise us immediately if the terms are not in accordance with your instructions.

12. How to Contact Us

International Insurance Services

Mail: 6th Floor, 2 Minster Court, Mincing Lane, London EC3R 7PD, United Kingdom

Email: enquiries@pfiis.com

Telephone: +44 (0)20 7204 8400

Facsimile: +44 (0)20 7204 8404

Website: http://www.pfiis.com

If you have any queries or concerns related to our service, please contact us via email, telephone, fax or mail. We will endeavour to respond to all emails and faxes within 24 hours (London working time).