Our Terms of Business
Accepting Our Terms of Business & Our Liability to you
By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business. We draw your particular attention to:
- The section headed “Confidentiality & Information”, specifically the paragraph explaining how “sensitive personal data” will be used and the sub-section titled “Credit checks”
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 David Gray at the address below
The Thomas Gray Partnership Ltd
4A Mansion House Street
Telephone: 01635 551433
Facsimile: 01635 551350
Unless we have otherwise agreed with you in writing, we shall treat your instructions to us to place or renew your insurance cover as acceptance of the limitation of our liability to you and to any other person with an interest in your insurance cover, as follows:
Except in respect of any claim:-
- Resulting from our fraudulent act; or
- Resulting from a breach by us of the FCA’s rules or Principles of Business; or
- In relation to any liability for death or personal injury resulting from our negligence; or
- In relation to any other liability which cannot lawfully be excluded or limited
Our liability to you (whether in contract, tort (including, without limitation, negligence) or otherwise) shall be limited to £5,000,000 in respect of any and all insurance mediation activities undertaken by us on your behalf over a 12-month period.
This Agreement contains all obligations owed by us to you. Our liability shall be strictly limited to direct liability in contract. We expressly exclude any liability for indirect or consequential loss howsoever arising and any and all liability in tort save in relation to liability for our negligent acts causing personal injury or death or other liability expressly reserved by statute.
The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. The FCA requires us to give you this document. Please use this information to decide if our services are right for you.
We are an Independent Insurance Intermediary and will act on your behalf in:
- Arranging your insurance cover with insurers to meet with your requirements or where requirements cannot be fully met, provide you with enough information to enable you to make an informed decision;
- Helping you with any changes that you need to make to your insurance during the policy period;
- Telling you when you need to renew your policy in time to allow you to consider and arrange any continuing cover.
We are primarily commercial insurance brokers however we offer advice on a wide range of both commercial and personal insurance products.
Who regulates us?
The Thomas Gray Partnership Ltd is authorised and regulated by the Financial Conduct Authority. Our FCA number is 307384.
Our permitted business is advising on, arranging, transacting and administering general insurance contracts and credit broking in relation to insurance instalment facilities. You can check this on the FCA’s Register by visiting the FCA’s website: www.fca.org./register or by contacting the FCA on 0800 111 6768.
Information about costs
We are paid commission by insurers out of the premium you pay to them, other than this we do not normally make charges in addition to those made by insurers, we may do however in exceptional circumstances. In the case of specific charges we will always advise you of these before they are incurred by you. You are entitled, at any time, to request information regarding any commission which we may have received as a result of placing your insurance business.
We normally accept payment by cheque and in many circumstances we can process credit card payments, using the insurers own facilities. You may be able to spread your payments through an insurer’s instalment scheme or a credit scheme. Some finance providers may pay a commission to us. You are entitled, at any time, to request information regarding any commission which we may have received. We can provide you with further details on request including details of interest payable.
How we will protect your money
We are normally the agent of insurers for the purpose of collection of premiums and bank money in line with their instructions. In these circumstances when your premium is received by ourselves, your insurers accept we are holding their money in trust and so your policy has been paid for. On the rare occasion when we are not agent for the insurers, we will keep your money in a statutory trust client account until it is passed to the insurer. In arranging your insurance we may employ the services of other intermediaries who are regulated by the FCA and your premium may be passed to these intermediaries for payment to insurers, prior to this your money will be held in a statutory trust client account.
Any interest received on Customer monies prior to the settlement of your account with Insurance Companies will be retained by the The Thomas Gray Partnership Ltd.
It is our intention to provide you with a high level of service at all times. If you should wish to make a complaint about our service we have a formal complaints procedure. In the first instance please address your complaint to David Gray, The Thomas Gray Partnership Ltd, 4A Mansion House Street, Newbury, Berkshire, RG14 5ES. We will supply you with a copy of our complaints procedure upon receipt of a complaint or at any time upon request. If for any reason we are not able to resolve your complaint, you may be entitled to refer it to the Financial Ombudsman Service. We will advise you if you are able to refer any complaint to the Financial Ombudsman Service, who can be contacted on 0845 080 1800 or online at http://www.financial-ombudsman.org.uk/. An eligible complainant can be either domestic customers (consumers) or commercial customers (either a ‘micro-enterprise’ employing fewer than 10 persons (i.e. 9 or less) with a turnover OR annual balance sheet that does not exceed €2 million; a charity with an annual income of less than £6.5 million at the time the complainant refers the complaint: a trustee of a trust with a net asset value of less than £5 million at the time the complainant refers the complaint: a small business (which is not a micro-enterprise) with an annual turnover of under £6.5 million AND EITHER an annual balance sheet total of under £5 million OR fewer than 50 employees at the time the complainant refers the complaint; or a guarantor).
Financial Services Compensation Scheme (FSCS)
We are covered by the FSCS. You may be entitled to compensation from the scheme in the very unlikely event that we could not meet our obligations. The amount of cover is 90% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS.
Consumer Insurance (Disclosure & Representations) Act 2012
If you are an individual buying insurance wholly or mainly for purposes unrelated to your trade, business or profession for example, travel, private car or home insurance you have a duty to take reasonable care not to make a misrepresentation to an insurer before a contract is entered into or varied. You must respond honestly and with reasonable care to all questions as including verbally and on proposals and statements of fact. If you act carelessly, in the event of a claim an insurer may apply a proportionate remedy such as charging an additional premium had they been aware of the full facts. If you act deliberately or recklessly a claim may be refused.
The Insurance Act 2015
If you are a business customer you are now also subject to the new Insurance Act 2015. It provides a new legal framework affecting every business insurance policy placed, renewed or amended after the 12th August 2016. We will provide you with information about how the Act will affect you but in summary it modernises insurance law and aims to make recovery from insurers simpler and fairer in the event of claim. However, these benefits are dependent on you making a ‘Fair presentation of Risk’. The existing obligations of good faith and ensuring accuracy of material information both remain. The Act, however, also specifies what you must do for a presentation to count as fair. There are two key elements: ‘Reasonable Search’ a new obligation which will vary based on your business circumstances & ‘Clear & Accessible’ presentation of risk information.
Confidentiality and Data Protection
Please see our Privacy Notice.
Motor Insurers Database
Commercial fleet and motor trade clients should be aware that it is their responsibility to ensure that vehicles details are included on the Motor Insurance Database.
How to claim
It is important you report the claim as quickly as possible. In the first instance, if you need help, please phone us on 01635 551433. If you refer to your policy summary or policy document, the claims contact details for your insurers will be shown.
How to Cancel
You have a statutory right to cancel many policies within 14 days. Please refer to your policy summary or your policy document for further details. During this period, for qualifying policies you will receive a refund in respect of the whole premium paid, subject to deduction of any ‘time on risk’ charge insurers are allowed to make. Outside the 14 day period you may not receive a refund or it may not be pro rata, in this respect you should refer to the conditions in your policy document.
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 any penalty.
Your instructions must be given in writing and will take immediate effect from the date of receipt.
This Terms of Business is subject to English Law