Terms of Business
Accepting our Terms of Business
FML and FML Insurance Services are trading names of Primo plc.
By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business. We would draw your particular attention to:
The section headed ‘Use of personal data’, and specifically the paragraph explaining how ‘sensitive personal data’ will be used; and
The section headed ‘Handling Money’, which explains our terms for handling client money in a Non-Statutory Trust account.
For your own benefit and protection you should read these terms carefully. If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you please contact us at the address or telephone number overleaf.
The Financial Conduct Authority
Our role is to advise you and make a suitable recommendation after we have assessed your needs. In situations where we are able to arrange insurance for you but do not offer advice, we shall confirm the position to you in writing. We will not in any circumstances act as an insurer nor guarantee or warrant the solvency of any insurer.
• Personal insurances: We select motor and household insurance products from a range of insurance undertakings and travel insurance from a limited number of insurance undertakings. You may ask us for a list of the insurance undertakings that we deal with for travel insurance products.
• Commercial insurances: We select commercial insurance products from a range of insurance undertakings but, for certain types of insurance, we may only deal with a single insurance undertaking or select from a limited number of insurance undertakings. Where we deal with a limited number of insurance undertakings you may request a list of these from us.
Commercial customers should note that if we propose to use another intermediary to help to place your business we will confirm this to you in good time before any arrangements are finalised.
Complaints and compensation
We aim to provide you with a high level of customer service at all times, but if you are not satisfied, please contact us:
In writing… write to the Managing Director, Primo plc, Cumberland House, Baxter Avenue, Southend-on-Sea, Essex SS2 6HZ, United Kingdom Or by telephone… 01702 225450
If you are still not satisfied, you may be entitled to refer the matter to the Financial Ombudsman Service. See: www.financial-ombudsman.org.uk or call 0800 023 4 567 calls to this number are normally free for people ringing from a “fixed line” phone- but charges may apply if you call from a mobile phone. 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. Further information about compensation scheme arrangements is available from the FSCS on 0800 678 1100 or www.fscs.org.uk/ When dealing with your complaint we will follow our complaint handling procedures, a summary of these procedures is available on request.
Payment for our services
We receive commission from the insurers or product providers but make charges for handling your insurances. On request, we will be pleased to provide business clients with information about any commission received by us in the handling of your insurances. Cancellation refunds are made net of a 25% administration charge subject to a minimum charge of £10. There is no refund where the annual premium is less than £50.
You will receive a quotation which will tell you the total price to be paid, showing any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded. Full payment of premium and fees is due before cover commences, or as otherwise stated under terms of credit, or in the debit note, invoice or statement issued to you.
We also draw your attention to the sections headed ‘Cancellation of Insurances’ and ‘Ending your relationship with us’.
Our financial arrangements with the insurance companies we use on ‘liability.1st’ are on a ‘risk transfer’ basis, which means that we hold premiums and refunds due to clients on behalf of the insurance undertaking concerned and under a risk transfer agreement. Such monies are deemed to be held by the insurer(s) with which your insurance is arranged. We will hold your premiums in a non-statutory client trust account pending payment to the insurer(s) concerned. The establishment of the non-statutory trust follows the rules that the FCA introduced to protect money held by authorised intermediaries. You should be aware that, under the non-statutory trust account rules, we are permitted to use such monies temporarily held to advance credit to clients generally. A copy of the Deed of Trust is available at www.primoplc.com/assets/pdfs/nonstatutorytrust.pdf or on request or may be inspected at our premises during normal office hours. If you object to your money being held in a non-statutory client trust account you should advise us immediately. Otherwise, your agreement to pay the premium together with your acceptance of these Terms of Business will constitute your informed consent to our holding your money in a non-statutory client trust account. We will retain interest earned on monies held in a Non-Statutory Trust account.
Cancellation of Insurances
You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance must be returned to us or to the insurer concerned. In the event of cancellation, charges for our services will apply in accordance with the ‘Payment for our services’ section above. Please read the terms of your policy which may allow insurers to retain the premium in full or to charge short-period premiums in the event of cancellation.
Ending your relationship with us
Subject to your immediate settlement of any outstanding premiums and fees, you may instruct us to stop acting for you and we will not impose a penalty.
Your instructions must be given in writing and will take effect from the date of receipt.
In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days notice. Unless otherwise agreed in writing, if our relationship ends, any transactions previously initiated will be completed according to these Terms of Business. You will be liable to pay for any transactions concluded prior to the end of our relationship and we will be entitled to retain commission received for conducting these transactions, together with all fees charged by us for services provided.
You are responsible for providing the complete and accurate information, which insurers require in connection with any proposal for insurance cover. This is particularly important before taking out a policy and at renewal, but it also applies throughout the life of a policy. If you fail to disclose information, or misrepresent any fact, which may influence the insurer’s decision to accept the risk, or the terms offered this could invalidate the policy and mean that claims may not be paid. You must check all details on any proposal form or Statement of Facts and pay particular attention to any declaration you may be asked to sign.
It is important that you read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply. Particular attention should be paid to any warranties and conditions as failure to comply with them could invalidate your policy. You must inform us immediately of any changes in circumstances that may affect the services provided by us or the cover provided by your policy. If you are unsure about any matter, please contact us for guidance.
Use of personal data
We will process any personal information we obtain in the course of providing our services to you in accordance with the Data Protection Act 1998. In administering your insurances it will be necessary for us to pass such information to insurers and other product or service providers that may also provide us with business and compliance support.
We may also disclose details to relevant parties, as necessary, to comply with regulatory or legal requirements. We may contact you in order to promote products or services that may be of interest to you. We will not otherwise use or disclose the personal information we hold without your consent.
Some of the details you may be asked to give us, such as information about offences or medical conditions, are defined by the Act as sensitive personal data. By giving us such information you signify your consent to its being processed by us in arranging and administering your insurances.
Subject to certain exceptions, you will be entitled to have access to your personal and sensitive personal data for which you will be charged a fee of £10. If at any time you wish us, or any company associated with us, to cease processing any of the personal data or sensitive personal data we hold, or to cease contacting you about products and services, please write to the Managing Director at the address overleaf.
Conflict of interests
Occasions can arise where we or one of our other clients or product providers may have a potential conflict of interest with business being transacted for you. If this happens and we become aware that a potential conflict exists, we will write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment.
Claims handling arrangements
You should take note of the required procedures in the event of a claim, which will be explained in the policy documentation. Generally, insurers require immediate notification of a claim or circumstances that might lead to a claim. We will employ due care and skill if we act on your behalf in respect of a claim.