Definition of Consumer and Non-Consumer
A consumer is any natural person who is acting for purposes which are outside his trade or profession whereas a commercial customer is
a customer who is non-consumer.
Law and Language
This Terms of Business is subject to English Law and the jurisdiction of the English Courts. We will use the English language for all communications, the contractual terms and conditions, and any information we are required to supply to you, before and during the duration of the contract.
The purpose of this agreement is to set out our professional relationship and detail the services we will provide to you. For your own benefit and protection, you should read all of the information carefully and in particular, we would like to draw your attention to the “IMPORTANT INFORMATION” section. If you do not agree to any part of the information, please tell us. We assume that you accept the terms of this agreement unless we hear from you.
Limit of Liability
This clause restricts the amount that may be recoverable as a result of our negligence. Other than injury or death of any
person (that no cap on liability will apply), our liability to you for the services we provide shall not exceed £5,000,000 in connection with any one event or connected events.
Who regulates us
The Financial Conduct Authority is the independent watchdog that regulates financial services. Nimmos Insurance Brokers is a trading style of Nimmos of Clacton Limited which is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 306290 and you can check our status at www.fca.gov.uk/register or by contacting the FCA on 0800 111 6768.
Our permitted business includes advising, arranging, dealing in and assisting with the placing and administration of all types of General Insurance policies.
Confidentiality and Data Protection
To help make sure you receive a competitive quotation, offer of appropriate payment options, protect against fraud and to verify your identity, insurers may use publicly available data which they obtain from a variety of sources, including a credit reference agency and other external organisations. Their search will appear on your credit report whether or not your application proceeds.
All information on our records relating to you will be treated as private and confidential and will only be disclosed to others such as our business partners, insurers, credit providers and other third parties who are directly involved in the normal course of arranging and administering your insurance. By accessing our sites and using our services, you consent to any such transfer of information to a third party.
Where you have given us consent we may use the data we hold about you to provide you with a renewal quotation and information about products and services we consider may be appropriate.
Our Retention of your Personal Information – By using our services you consent to us and our partners retaining any personal information you have provided. We will retain any personal information only for as long as is necessary to fulfil the business purpose for which it was collected. We will also retain and use your personal information for as long as necessary to comply with our legal obligations, resolve disputes, and enforce our agreements. Under the General Data Protection Regulations 2018, you have the right to ask us for a copy of any personal information about yourself that we hold on our records. Please contact us if you require any more information. For further information on your rights under the General Data Protection Regulations please refer to the Information Commissioners Office – www.ico.org.uk.
We are an independent insurance intermediary, who acts on our customers’ behalf in arranging insurance we will advise you separately prior to the commencement of each contract if this alters. Our services include: 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. As part of our service, we will assist you with any claim you need to make and tell you what your responsibilities are in relation to making claims.
If you mislay your policy at any time, we will issue a replacement policy document, if you request it.
Whose products we offer
We usually offer advice from a range of insurers, representing a fair analysis of the market, however, under certain circumstances we may only deal with a limited panel, or single insurer. We will confirm, for each individual policy we provide you with, the basis of our advice. In certain circumstances we will use the services of another intermediary to place your insurance and in these circumstances we will state the name of the intermediary we use and the name of the risk carrier in the form of “underwritten by”.
The service we will provide you with
We will advise and make a recommendation for you after we have assessed your demands and needs. Our advice will be confirmed in a demands & needs and suitability statement, giving reasons for our recommendation. In respect of Optional Policies offered with car and home insurance you will not receive advice or a recommendation from us and you will then need to make your own choice about how to proceed.
What you will pay for our services
We usually receive a commission from the insurer with whom we place your business. We also receive commission for arranging finance agreements for the payment of premiums and we may also receive commission or fees for passing introductions to other professionals. In addition, we normally make the following charges to cover the administration of your insurance:
Arranging new policies, mid term adjustments & renewals £20
Mid term cancellations and other refunds are refunded NET of commission. We may, in addition, charge a £20 administration fee.
Replacement/duplicate certificates or cover notes £20
Personal lines/consumer policies cancelled during the ‘Right to Cancel’ period will be subject to an administration charge of £20, in addition to the premium charged by the insurer for the period of cover provided.
Occasionally we may arrange a policy on which we earn no commission (a ‘net-premium policy’) and in these cases we will advise you of the arrangement fee before you take the policy out. Specific charges, which apply to individual policies will be advised to you at the quotation stage, prior to inception or renewal of the policy. The specific charge and purpose of any additional charges will always be advised to you in advance.
Prior to the conclusion of each insurance contract, or upon renewal, we will remind commercial policyholders of their right to be advised of the level of commission which we receive from underwriters. 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.
What to do if you have a complaint
Our aim is to provide a first class service, however, if you wish to register a complaint, please contact us by writing to David Knott, Nimmos Insurance Brokers, 82 Station Road, Clacton on Sea, Essex. CO15 1SP or by phone Telephone 01255 426426, by fax 01255 423674 or by email [email protected]
Where a complaint arises we will, wherever possible, endeavour to resolve the matter by no later than the close of business the third working day following receipt. If this is not possible, to enable us to remedy the situation in a speedy and efficient manner, we have a documented, formal complaints procedure, details of which are shown below.
1) We will acknowledge your complaint promptly, to reassure you that we will be dealing with the issue as a matter of urgency, giving you the details of who will be handling the matter in our office, and details of the service of the Financial Ombudsman Service, where this applies.
2) In the event that your complaint relates to activities or services provided by another party, we will advise you of this in writing giving the reasons for our decision, and ensure that your complaint is promptly forwarded to the appropriate party, in writing.
3) We will aim to make a final response to you as soon as is practicable, and keep you reasonably informed as to progress. We anticipate that we will be able to provide a substantive response to most complaints within eight weeks.
4) By the end of eight weeks from receipt of your complaint, we will issue you with our final response, or issue a response that gives the reasons for the delay and indicates when we will be able to provide a final response. If you are dissatisfied with our response, or the delay at this time, you will have a period of Six months in which you can refer the matter to the Financial Ombudsman Service, whose details are shown below.
When we provide our final response letter, we will endeavour to ensure that we have taken into consideration any financial losses, or material inconvenience you may have suffered. If we do not feel that your complaint is justified, we will advise you of the reasons for our decision and we will also advise how you may pursue the complaint if you remain dissatisfied.
The Financial Ombudsman Service provides consumers with a free, independent service for resolving disputes with financial firms.
The FOS Consumer Helpline is on 0800 023 4567 (free for people phoning from a “fixed line” (for example, a landline at home) or 0300 123 9 123 (free for mobile-phone users paying monthly charge for calls to No’s starting 01 or 02) and their address is:
Service Exchange Tower
Harbour Exchange Square
London E14 9SR
Please contact us if you wish to cancel any policy that we have arranged for you. Customers acting outside their trade or profession (Consumers) will usually have a legal right to cancel policies for any reason, subject to no claims having occurred, within 14 days of receiving the full terms & conditions. You will always be advised where this Right to Cancel applies. A charge may apply for the period of cover provided and, in addition, an administration charge will apply as shown in the charges section above, cancellation under this right must be in writing, prior to expiry of the 14-day cancellation period, to our usual office address.
Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the FSCS if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Full details and further information are available from the FSCS. The FSCS is the UK’s statutory fund of last resort for customers of authorised financial services firms, like us. The FSCS can pay compensation if an authorised firm is unable or likely to be unable to pay claims against it, usually because it has gone out of business or is insolvent.
Insurance advising and arranging is covered for 90% of the claim, without an upper limit. For compulsory insurances (for example, motor insurance and employers’ liability insurance), insurance advising and arranging is covered for 100% of the claim, without an upper limit. Further information about compensation scheme arrangements is available from the FSCS.
We normally accept payment by guaranteed cheque or Visa, Mastercard or Maestro cards. You may be able to spread your payments through insurers’ instalment schemes or a credit scheme, which we have arranged with an established insurance premium finance provider. We will give you full information about your payment options and the appropriate finance agreement when we discuss your insurance in detail. Please note that we only use Close Premium Finance for the provision of premium finance facilities.
Please Note: Your policy cover will cease if you fail to keep up payments on an instalment agreement or premium finance facility related to it.
We regularly assess the financial strength of the Insurance Companies and other intermediaries that we deal with. The process usually involves general observation of the financial ratings applied by independent rating agencies such as Standard & Poor’s and A M Best published with other readily available information within industry guides, newsletters and press releases. Whilst we take care to deal with companies that maintain reasonable solvency margins, we cannot guarantee their financial ability to pay claims.
Information on how we treat Payments You make to Us
Under the terms of our agreements with the Insurance companies with whom we place business, we normally receive premiums you pay to us as Agent of the Insurer. In certain circumstances you may have the additional protection of insurance companies accepting that monies paid to us are treated as being received by them (Risk Transfer) please ask for details. All insurance premiums you pay to us are protected in a Statutory Trust Client Account until we pay insurers. We do not pay any interest on premiums held by us in the course of arranging and administering your insurance.
IMPORTANT INFORMATION –– THE INSURANCE ACT 2015 THE INSURANCE ACT 2015
The Insurance Act 2015 mainly applies to commercial insurance (non-consumers) and will apply by law to contracts issues,
renewed or varied provided such contracts are governed by the laws of the United Kingdom (England, Wales, Scotland or Northern Ireland). The Act updates the law in the following areas:
Pre-contractual disclose: The Duty to Make a Fair Presentation
Under the current law, the policyholder is required to disclose all “material facts” relevant to the risk. Material facts are defined
as being those which a “prudent insurer” would take into account in their assessment or acceptance of a risk. Failure to
comply with this duty allows insurers to avoid the contract, in effect treating the policy as though it had never existed.
The Insurance Act 2015 replaces this duty of disclosure with a revised duty to make a “fair presentation” of the risk. This requires
the policyholder to undertake a reasonable search of the information available to them and defines what a policyholder
knows or ought to know. If this duty is breached the Act puts in place a new range of proportionate remedies which insurers
can apply dependent upon the action they would have taken had the correct information been disclosed. If the failure in
disclosure is deliberate or reckless, or if insurers would not have entered into the contract at all, insurers remain entitled to
avoid the contract entirely. If in doubt about any point in relation to material circumstances and reasonable search please contact us immediately.
Under the current law, breach of a warranty in an insurance contract allows the insurer to avoid any liability under the policy from
the point of the breach, even if this had been corrected. Insurers were also entitled to avoid liability even when the breach was
not relevant to the type of loss actually suffered.
The Insurance Act 2015 changes the effect of breach of a warranty so that cover remains in place for a valid claim arising after a
breach has been remedied. In addition, breach of a warranty no longer has any effect on insurer’s liability for valid losses
unrelated to the breach.
Insurer’s Remedies for Fraudulent Claims
If a fraudulent claim is submitted, Insurers will have the right to refuse any claim arising after the fraudulent act. Previously valid
claims were unaffected.
If a member of a group insurance makes a fraudulent claim, the right to refuse claims resulting from the fraud will only apply to
the fraudulent individual and not to the other members or the insurance policy as a whole.
Basis of Contract Clauses
Basis of contract clauses have the effect of converting pre-contractual information supplied to insurers into warranties. Under the
Insurance Act 2015, such clauses have been abolished. Going forward, where warranties are applied these must be expressly
stated in the policy and will be interpreted as detailed under the “Warranties” section above.
The Act allows the parties to an insurance contract to agree different terms to those detailed in the Act, subject to certain