Terms of Business

1. Regulation.

Regulation. We, James Hallam Limited of Saxon House, Duke Street, Chelmsford, CM1 1HT are authorised and regulated by the Financial Conduct Authority (FCA) to sell general insurance products. Our FCA registration number is 134435 and you can check this on the FCA’s register by visiting the FCA’s website http://www.fca.org.uk/ or by contacting the FCA on 0845 606 1234.

2. Our Service to You

In arranging insurance for our customers we act as an independent intermediary and act on your behalf when arranging your insurance. Our service includes: advising you on your insurance needs; arranging your insurance cover with insurers to meet your requirements; and helping you with any ongoing changes you have to make. We offer a range of general insurance products and have access to a number of insurers with whom we place your insurance. We will give you details of these insurers when we discuss your individual requirements.

3. Disclosure of Information

It is important that you understand that any information, statements or answers made by you to us, or your insurer, are your responsibility and must be correct. Any failure to disclose facts material to the insurer or any inaccuracies in your answers may invalidate your insurance cover in part or in whole. Facts material to the insurance are matters or information which may influence your insurer as to the acceptability or otherwise of your proposal or renewal and must be disclosed immediately. You are advised to keep copies of documentation sent to or received from us for your own protection. Please do consult us if you are in doubt on any aspect. The disclosure of information not only applies at the commencement and renewal of your policy, but also at anytime during the period of insurance.

4. Awareness of Policy Terms

When a policy is issued, you are strongly advised to read it carefully, as it is that document, the schedule and any certificate of insurance that is the basis of the contract you have purchased. If you are in any doubt over any of the policy terms and conditions, please seek our advice promptly.

5. Charges

We reserve the right to make charges, in addition to any insurance premiums, for the arranging, amending, renewing and cancelling of any policy of insurance. Details of all charges made will be adviced in advance to you and be declared in all correspondence with you.

6. Cancellation

Should you choose to cancel you policy for any reason a pro rate refund will be offered subject to no claims being made against the policy. If a claim has been made no refund will be due. If a refund is offered we will deduct a fee which will equate to 35% of the return premium due.

7. Clients Money General

The FCA rules are designed to protect you in the event that an insurance intermediary fails or is unable to transfer:

  • Any premium money it has received from you to the insurers; or
  • Any claims or return premium monies that it has received from the insurer to you.

We are governed by strict rules pertaining to Client Money, set down by the FCA. Where we hold monies in a bank account we may earn interest on monies held, which will be retained by us.

We act as agents for the insurer for collection of premiums and payment of claims and refunds of premiums. This means that premiums are treated as being received by the insurer when received in our bank account and that any claims money or premium refund is treated as received by you when it is actually paid over to you. There are occasions where such transactions are restricted (for example receiving premiums only) and we will tell you if this is the case.

We may extend credit to other customers from this account and we may transfer your money to another intermediary in some cases. However, your money will be protected at all times because of the requirements of the FCA Rules. We also reserve the right to retain interest earned on this account.

By accepting this Terms of Business document, you are giving consent for us to operate in this way.

8. Customer Protection Information

It is our intention to provide you with a high level of customer service at all times. If there are occasions when we do not meet with your standards, please contact Mr Graham Whyatt either verbally or in writing, who will take details of your concerns and attempt to address your concerns within 5 working days. If our investigations take longer, we will provide a full response within twenty working days or explain our position and provide timescales for a full response. If we cannot satisfy your complaint you may be entitled to refer it to the Financial Ombudsman Service (FOS). You can contact the FOS by telephone on 0845 080 1800 and further information is available at http://www.financial-ombudsman.org.uk/. If you do decide to refer any matter to the FOS your legal rights will not be affected,

9. 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 90% 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 the compensation scheme is available from the FSCS on 020 7892 7300 or by visiting http://www.fscs.org.uk/.

10. Cooling Off Period

We will give you enough information and help so you can make an informed decision before making a final commitment to buy your insurance policy. However you will have fourteen days to change your mind and cancel this insurance contract from the date you receive the policy documentation.

11. Cooling Off Period

Our Earnings. 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.