Terms of Business Letter
About our insurance services.
In arranging insurance for our clients we act as an Independent Broker. Our service includes advising you on your insurance needs, arranging your insurance cover with insurers to meet your requirements, helping you with any ongoing changes you have to make and providing a claims assistance service. We act on your behalf in arranging your insurances; however we may also issue policies on behalf of certain insurers.
We are able to offer advice on all classes of commercial insurance products but specialise in the renewable energy and recycling sectors. We have access to leading insurers in the market place.
In some instances we will place cover via another insurance intermediary, for example where they have special facilities or a special scheme for certain trades. It is common to gain access to the Lloyd’s market only via a Lloyd’s broker. If we are placing your cover via another intermediary you will be advised
What information do you need to disclose?
It is your responsibility to provide complete and accurate information to insurers when you take out your insurance policy, throughout the life of your policy and when you renew your insurance. It is important that you ensure that all statements you make on proposal forms, claim forms and, other documents are full and accurate. If a form is completed on your behalf, you should check that the answers shown to any questions are true and accurate before signing the document.
If you fail to disclose any material information to your insurers or provide inaccurate information, this could invalidate your insurance policy and could mean that part or all of a claim may not be paid. If you are in any doubt about whether information is material, you should disclose it.
Confidentiality and Data Protection
All information about you will be treated as private and confidential and kept secure. We will only use and disclose the information we have about you in the normal course of arranging and administering your insurance. We may pass information about you which may include details of your payment record to credit reference agencies for the purposes of arranging payments by instalments
We may also use the information we hold about you to provide you with information on other products and services we can offer which we feel may be appropriate for you. If you cancel or lapse your policy we may contact you in the future to provide a quotation. If you do not wish to receive marketing information from us, or for us to disclose information about you to other parties for marketing purposes please write to us at the above address. Under the Data Protection Act 1998 you have rights of access to any personal information we hold about you in our records. If you have any queries or requests in this regard please contact us.
At your request we may provide information to your personal representative. We will however only do this on completion of our Data Protection Authorisation Form, details of which can be obtained from us.
How can you make a payment?
In order to be able to offer you credit facilities, we are registered under the Consumer Credit Act. We normally accept payment by cash, guaranteed cheque or Visa and MasterCard. Credit Card payments are subject to a 3% service charge.
You may be able to spread your payments through insurer’s instalment schemes or a credit scheme that we have arranged with a third party finance provider. This may include a credit and/or service charge.
What happens when your policy is due for renewal?
When a policy falls due for renewal you will receive notification from us detailing the renewal terms and details of any alternative available where appropriate. You will also be advised should your insurer not wish to renew the policy for any reason. In these circumstances, we will seek alternatives on your behalf.
Renewal premiums must be paid on or before renewal date to ensure continuous cover remains in force. Where you have previously agreed to pay your premium by an insurer instalment schemes or other credit scheme, this facility will normally be available to continue for renewal. Details will be advised to you at the time.
How we hold your money.
Premium(s) and any other monies we may hold on your behalf (for example refund premiums received from an insurer) will be held in a Statutory Trust account (operated in accordance with FSA regulations) until such time as they are remitted by us to your insurance company or to you. Where we have placed cover via another intermediary we will pass your premium to them, and they will also be required to hold your money in Trust until the premium is deemed to have been received by the relevant insurer.
By accepting these terms you consent to the way we will hold and where applicable transfer your premium (and/or other insurance related money) in accordance with this paragraph.
What happens where a refund of premium is due to you?
Where a return premium is issued we will refund the return premium when received from the insurer, subject to a deduction of commission repayable to the insurer. In view of the costs involved we will not issue any return premium that is less than £10 after deducting repayable commission.
These provisions do not apply should the policy offer a cancellation right and you exercise this right within the cancellation period. In these circumstances the insurers calculated refund will be returned to you in full, although our fee for arranging a new policy will not be refunded.
What do you need to do to report an incident or make a claim?
If an incident occurs which needs reporting to your insurers or you need to make a claim, please contact us as soon as possible and we will advise you of the procedure and any action that you should take.
When you contact us about a claim you will need to tell us:
Your name and address;
The date and place where the incident occurred;
What caused the loss or damage.
What to do if you have a complaint.
If you wish to register a complaint, please contact us:
Write to Nviro Insurance & Risk Management Ltd,
31 Marsh Parade,
We have a formal complaints procedure, a copy of which is available on request.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the 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.
Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit.
For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit.
Further information about compensation scheme arrangements is available from the FSCS.