Terms of Business

The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. It requires us to give you these Terms of Business details. Please use this information to decide if our services meet your needs.
Craftcover.com is a trading name of Walmsleys Commercial Insurance Brokers Ltd, and are authorised and regulated by the Financial Conduct Authority. Our registered address is 17-21 Dicconson Street, Wigan, WN1 1RG. We are a wholly owned subsidiary of WCIB Holdings Ltd. Our permitted business is to sell and administer general insurance. Our FCA Register number is 307247 and you can check this information on the FCA’s register by visiting www.FCA.gov.uk/register or by contacting the FCA on 0845 6061234.

Our service

In arranging insurance on your behalf, we act as an Independent Broker and as your agent. Our service includes: arranging your insurance cover with insurers to meet your requirements; and helping you with any ongoing changes you have to make.

For sales that are not conducted online our services also includes advising you on your insurance needs.

We offer a wide range of insurance products and have access to leading insurers in the market place. A full list of insurers is available upon request. For certain classes of insurance we may elect to use just one insurer. We will send you documents confirming the full details of your cover and the insurer, and details of the premium(s) you have paid.

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.
Consumers must take reasonable care not to make misrepresentations when answering insurer’s questions. If you are careless in answering the insurer’s questions or deliberately make a misrepresentation, this may render the insurance void from inception (the start of the contract) and enable the insurer to repudiate liability (entitle the insurer not to pay your claims). If you are not a consumer (the policy is to cover your business risks) you have a duty to disclose all material facts, in addition to the duties above.

We recommend you 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 requirement for correct information not only applies at commencement and renewal of your policy, but also at anytime during the period of insurance.

Cooling off period

We will give you enough information and help so you can make an informed decision before you make a final commitment to buy your insurance policy. However you will have fourteen days to change your mind and cancel the insurance contract from the date you receive the policy documentation. If you exercise this right, you will only be charged for the portion of time on cover, and our reasonable charge of £20.

Premiums and financial aspects

In order to be able to offer you credit facilities, we have an Interim Permissions Reference Number (previously Office of Fair Trading Consumer Credit License Number) 547382. All premiums received

on behalf of our Clients are held in a Statutory Trust bank account conforming to Financial

Conduct Authority requirements and we remit such monies to insurers in line with our

agreements with them.

We normally accept payment by guaranteed cheque or credit/debit cards and our standard

Credit Terms are 14 days.

You may be able to spread your payments through insurers’ instalment schemes, a credit

scheme with a third party finance provider, or a facility we have arranged ourselves. We will

give you full information about your payment options when we discuss your insurance in detail.

We may keep certain documents, such as your insurance policy documents or Certificate, while

we are waiting for full payment of premiums. In these circumstances, we will ensure that you

receive full details of your insurance cover and will provide you with any documents that you

are required to have by law.

Commission and charges

As Independent Brokers, we are remunerated by commission from your insurance company, or fees for professional services, or a combination of both, details of which are available on request. We may also receive additional remuneration from insurers by way of growth agreements, from third party finance providers. We may also make the following charges to cover the administration of your insurances:-

  • Arranging new policies £35
  • Mid term adjustments £35
  • Mid term cancellations £35
  • Renewals £35
  • Payment by Credit Card 2% chargeThe specific charge and purpose of any additional charges will always be explained to you in advance.

Return premiums (usually arising if an insurance risk is reduced or a policy cancelled)

When a return premium is made, we repay commission on that amount to your insurer and this will be deducted from the final amount due to you. In view of the costs involved, we will not issue any return premium that is less than £10 (after deducting reclaimed commission). An amount less than £10 will be held to your credit and can be utilised against any future insurance policy with us. If a policy is cancelled, we will refund any return premium due (after deduction of the commission and our charge). Return premiums can only be allowed once the appropriate credit has been made to our account by the insurer, and their account reconciled.

Claims

When we receive notification of an incident that might give rise to a claim under your policy, we will inform the insurer without delay and, in any event, within three working days. We will explain to you promptly of insurers’ requirements concerning claims, including the provision, as soon as possible, of information required to establish the nature and extent of a loss. We will forward any payments received from insurers in respect of any claim, to you, without delay. We will notify you of any request for information we receive from your insurers.

Customer protection information and complaints

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 your standards, please contact the member of staff you were dealing with, either verbally or in writing. They will make every attempt to resolve the situation to your satisfaction but if they are unable to do so by close of business on the next working day, one of our Directors will then acknowledge in writing, and attempt to address this within 5 working days. If our investigations take longer, we will provide a full response within 20 working days, or explain our position and provide timescales for a full response.

We will issue our Final Response within 8 weeks. If we find that your complaint is valid, we will

agree with you a mutually acceptable form of redress. By making a complaint, you do not

prejudice your rights to any legal proceedings. The parties to a contract of insurance covering a

risk situated in the United Kingdom are permitted to choose the law applicable to the contract.

English Law will govern your insurance.

If we are unable to satisfy your complaint you may be entitled to refer the matter to the

Financial Ombudsman Service who can be contacted via their website (http://www.financial-

ombudsman.org.uk) or by phone on 0845 080 1800.

Certain classes of insurance are covered by the Financial Services Compensation Scheme

(FSCS). Further information is available from the FSCS who can be contacted on 020 7892 7300

or via their website (http://www.fscs.org.uk).

Confidentiality and Data protection

All personal and sensitive information about our customers is treated as Private and Confidential. We will only use and disclose the information we have about private individuals in the normal course of arranging and administering their insurances, and will not disclose any information to any other parties without their written consent. Unless we are notified of any changes, we shall assume the personal and sensitive data we hold about our customers is correct, and shall use it to provide quotations when policies fall due for renewal. In the interests of security and to improve our service, telephone calls you make to us may be monitored and/or recorded.

We may pass information about you to credit reference agencies for the purposes of arranging payments by instalments, and may also pass to them details of your payment record with us. Under the Data Protection Act 1998, private customers have a right to see personal information about them that we hold in our records. A charge may be made for this service. If you wish to exercise this right, or have any other related queries, you should write to us at the address shown overleaf

Claims and Underwriting Exchange Register

Insurers share information with each other via the Claims and Underwriting Exchange Register, and the Motor Insurance Anti-Fraud and Theft Register, to aid the prevention of fraudulent claims. In the event of a claim, the information you supply on the claim form, together with any other information relating to the claim, will be put on the Registers.

Use for marketing purposes

We may use information held about you, to provide you information about other products and services which we offer, and which we feel may be appropriate to you, by email, telephone, post or other means. You may exercise your right to give notice to stop data being processed for marketing purposes by contacting us at any time. Please call us on 01942 765333 or write to us at the address shown overleaf.

Awareness of policy terms

You should read through all policy terms, conditions and warranties shown on your policy documentation. Please ensure you understand them and are able to follow their requirements exactly. If not, please inform us immediately, as a breach of any terms, conditions or warranties may enable your insurer to terminate your policy from the date of that breach, and/or repudiate a claim under your policy.

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