Terms of Business

As Authorised & Regulated by the FSA

                                             Important Note

 This document is intended to be used as a reference aid only and will only serve to provide an outline of the covers being provided. It is unfeasible to provide full details of all policy terms, conditions and exclusions within this document. We would strongly suggest that you take time to familiarise yourself with your policy using the policy documents provided, using this document as a quick reference guide only. If you are ever in doubt about your policy covers and or warranties, conditions or exclusions, please contact our office immediately.

                                       Business Description

 Please note that any quotation has been based on the business activities descirbed by yourself. In all cases our documentation will make you aware of the business activities you have described to us. It is your responsibility to ensure that the quotation offered suits your requirements. If your business activities are currently or alter to fall outside of the activities noted you should notify our office immediately. Failure to do so could result in your policy being void.

Although we endeavour to ensure our quotation is based upon the correct activities, it is your responsibility to ensure trade description matches you business.

                                              Sums Insured           

It is your responsibility to ensure that your sums insured and limits of liability are adequate for your business. Unless agreed otherwise (i.e. first loss) your sums insured should represent the total replacement value of all material items covered by your insurance contract. Underinsurance, whether intentional or unintentional, could cause problems in the event of a claim. If you are deemed to be deliberately misadvising your insurance company and subsequently misrepresenting the risk you will not be paid the full amount of your claim and in some instances your claim may be repudiated in its entirety. Upon your request, we will be pleased to provided guidance on this but cannot determine or advise on actual sums insured.

                              Warranties & Endorsements

Warranties are applied to all insurance contracts and must be complied with at all times as failure to do so could result in your policy being void and claims not being paid.

In addition to the standard policy warranties, your policy may be subject to additional specific endorsements. These endorsements should be treated in the same manner as the warranties as they will carry the same consequences should they not be complied with. Any endorsements specific to you policy will be highlighted in you policy document.

Should you have any queries or concerns with any warranties or endorsements which have been applied to your policy, please contact our office immediately.


                                      Law & Language

Disputes under this or any other agreements will be resolved under English Law and all correspondence will be conducted in English

                                            Our Firm

Nash Warren Commercial is a trading style of Nash Warren Insurance Services Ltd (registered in England No. 05047099) who are an independent intermediary. As such, we act as agents on your behalf and assist in advising you the products of different companies. Nash Warren Insurance Services Ltd are authorised and regulated by the Financial Services Authority (FSA.) Our FSA reference number is 466459. You can check our details on the FSA's register by visiting the FSA website www.fsa.gov.uk/register or by contacting the FSA direct on 0845 606 1234

                                              Our Service

We offer independent advice on general insurance products based on information supplied to us by yourself. Unless stated otherwise, our quotations are based on a fair analysis of the market and all of our insurance products are twelve month renewable contracts.

                                         Your Responsibility

It is your duty to disclose all facts material to the insurance contract and volunteer such information prior to the commencement of an insurance contract. We would also advise that any material changes to the risk during the period of insurance should also be notified immediately. It is important to understand that failure to disclose all material facts could invalidate your insurance. This may result in one or more claims not being paid. In certain circumstances your insurer may be entitled to void the policy ab-intio (from the beginning.)

Please be advised that your duty of disclosure also applies to all forms or statements completed in conjunction with your insurance policy. It is your responsibility to ensure that all answers given on any proposal form, statement of fact or any other material document are accurate. If your policy is issued on a statement of fact basis, it is your responsibility to ensure that the answers given on this form are correct. If you are required to complete a proposal form you are solely responsible for the answers given and by signing the form you are confirming the accuracy of said document. If requested, we may provide assistance in completing this document. In such situation we will provide you with the document and request that the information is checked for accuracy. By signing this form you are confirming that the statements declared are accurate and true to the best of your knowledge.


                                              Complaints

If you wish to register a complaint in the first instance please contact Mr Phillips, either in writing, by phone or in person. If you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service.

                 Financial Services Compensation Scheme (FSCS)

We are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from this 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 advising and arranging is covered for 100% of the claim without any upper limit.

                                             Your Monies

Monies that are held in trust by Nash Warren are held on a 'Risk Transfer Basis' whereby monies are co-mingled with other Insurers monies. 

In line with FSA regulations Nash Warren Insurance do not store or keep Credit or Debit card details on file for security purposes and to assist in fighting financial crime.

                                                Cancellation

Early Cancellation of Policies:- You have the right to cancel this insurance. If you cancel the policy within the first 14 days the insurers are entitled to charge for cover provided and this charge will normally be on a pro rata basis and we will normally charge our standard fee detailed below.

After the first 14 days if you wish to cancel the policy you must return your insurance certificate or cover note and any monies paid to you by your insurance company. In the event of early cancellation of your policy short period charges will apply along the following guidelinesas a % of premium payable (subject to no claims on the policy)

 

 1 month    2m      3m      4m      5m     6m      7m      8m      over 8 months

 25%          30%   40%   50%   60%   70%   80%   90%      full premium

 

We can only cancel the policy for you on receipt of your written instructions and the return of the current insurance certificate. Cancellation will take effect from the date we receive these items.

If payment of premiums is to be collected via credit or debit card, in the event of cancellation you agree to give authority to Nash Warren to collect any shortfall in premiums from the card information provided.

Should your policy be cancelled and the refund received from your insurers not cover the balance left owed to us for the time in which you have provided cover for, our credit terms indicate that payment of this balance is due within 7 days from the date of  our last correspondence. Failure to pay your account within these terms may incur a 20% surcharge being added to the outstanding amount and your account details being passed to our credit management company Credit Resource Solution. If you are unable to pay within these terms, to avoid these extra charges being legally added to your account, please contact us immediately.

                                 
                                                  Fee's

Fee's :-Certain policies will attract fees dependent on the amount of work involved in arranging cover. These will be advised to you and shown on receipts. In all cases we make the following charges in addition to the Insurance Premiums:

Cheques returned unpaid by your bank.....................£30.00

Minimum fee applicable to all policies........5% of total premium (subject to a minimum fee of £5)

Policy adjustments..........................£30.00

Policy Cancellation...£30.00 or 10% of the refunded premium whichever is the greater amount. This charge is effective from day 1 of the policy.

Instalments...........10 % of premium subject to minimum £5 per instalment

Instalments are due monthly, the deposit being paid at inception then at 30 day intervals for the agreed period of instalments. The maximum number of instalments under this scheme, including the deposit, is 4. In the event of a claim, regardless of circumstances we will require settlement of any outstanding instalments or premiums immediately.

                                     Treating Customers Fairly

 

TREATING CUSTOMERS FAIRLY

At Nash Warren we endeavour to treat all our customers fairly and give themost suitable product at the most competitive premium available to us.

We actively adhere to the code of practice set down by the FSA in the following areas:-

 1)       Customers can be confident that are dealing with Firms where fair treatment of customers is central to the corporate culture.

2)       Products and Services marketed and sold in the retail market are designed to meet the needs of identified consumer.

3)       Customers are provided with clear information and kept appropriately informed before, during and after the point of sale.

4)       Where customers receive advice, the advice is suitable and takes account of their circumstances.

5)       Customers are provided with products that perform as firms have led them to expect and the associated service is of an acceptable standard.

Customers do not face unreasonable post-sales barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

 

DIRECT DEBIT PAYMENT PLANS

 

IF YOU OPT TO PAY YOUR INSURANCE PREMIUM VIA OUR DIRECT DEBIT FACILITY AND YOUR POLICY IS CANCELLED, YOU WILL BE LIABLE TO PAY ANY OUTSTANDING AMOUNT TO THE FINANCE COMPANY. SHOULD YOU BE ENTITLED TO ANY RETURN PREMIUM, THIS AMOUNT WILL BE DEDUCTED FROM THE BALANCE OWING AFTER OUR ADMINISTRATION CHARGE HAS BEEN PROCESSED. PLEASE ALSO NOTE THAT, IN MOST CASES, THE DIRECT DEBIT AMOUNTS DO NOT EQUATE TO THE SAME TIME ON RISK CHARGE MADE BY THE INSURANCE COMPANY.