Terms of Business with T H March & Co. Limited.

This document sets out the terms upon which we agree to act for our clients.  It also contains details of our regulatory responsibilities.  Please read carefully.  By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business.  Please contact us immediately if there is anything you do not understand or with which you disagree.

THE FINANCIAL SERVICES AUTHORITY
T H March & Co Limited trading as T H March Insurance Broker is authorised and regulated by the Financial Services Authority (FSA).  Our FSA Register number is 308811.

Our permitted business is advising, arranging, dealing as agent and assisting in the administration and performance of general insurance contracts.

You may check this on the FSA's register by visiting the FSA website, www.fsa.gov.uk/Pages/register or by contacting the FSA on 0845 606 1234.

OUR SERVICE
Our role is to advise you and make a suitable recommendation after we have assessed your needs, to arrange insurance as agreed, and to represent your interests to insurers in the event of a claim as described below.  If we arrange insurance for you but do not offer advice, we shall confirm the position to you in writing.  It is our policy to treat our customers fairly at all times. 

Following an analysis of the market, we select insurance products from a limited range of insurers, which may vary according to the type of insurance contract.  You can ask us for a list of insurers used for any particular type.  For certain types we only deal with a single insurer and will advise you of this when offering a quotation. If considered appropriate and for your benefit, we may use other insurance intermediaries to help us meet your insurance needs.

On occasions we recommend certain products that are branded in the name of T H March.  Each of these products is specially negotiated with a particular insurer.  These and some other products will be placed by us utilising binding authorities.  In these circumstances we may be responsible for policy issue and some aspects of administration and claim settlement, in accordance with procedures and limits set by insurers and subject to their rigorous audit and control.  When recommending these products we will continue to place your interests above all other considerations, but if that is not possible we will advise you of the conflict of interest.

We will not in any circumstances act as an insurer, nor guarantee or warrant the solvency of any insurer.  A liability for the premium, whether in full or pro rata, may arise under policies where a participating insurer becomes insolvent.

CLAIMS HANDLING ARRANGEMENTS
You must advise us immediately of all incidents, accidents or omissions, which may result in a claim against your insurance policy.  You must do this whether or not you believe there is a liability on your part to other parties.  Any correspondence received by you concerning liability or potential liability to others must be passed to us immediately without acknowledgement.

Providing prompt information on incidents or accidents means that your insurers can take any steps that are necessary to protect your interests; failure to do so may cause problems when handling your claim.  Your insurance document gives details of whom to contact in the event of a claim.

 
You will be required to provide us with full details of your claim and we are likely to ask you to complete a claim form to pass to the insurer.  We will employ due care and skill if we act on your behalf in respect of any claims.

If our claims department acts on behalf of the insurer in negotiating settlement of your claim, we will inform you of that when you notify us of the claim.  In such circumstances other persons from within our organisation will continue to act on your behalf.  Full details of these arrangements will be provided in the event of a claim occurring.

COMPLAINTS AND COMPENSATION
We are dedicated to providing you with a high level of service at all times, but if you are not satisfied, please contact any of our staff.  In the event that you remain dissatisfied and wish to make a complaint, you should contact:

For Jewellers Block Insurances:
Mr M J Ferraro, Managing Director, T H March & Co Limited,
10-12 Ely Place, London, EC1N 6RY.  Telephone 020 7405 0009

For all other insurances:
Mr J A Pittman, Director, T H March & Co Limited,
Hare Park House, Yelverton Business Park, Yelverton, PL20 7LS.
Telephone 01822 855555

If you are still not satisfied, you may refer the matter to the Financial Ombudsman Service (unless you are a commercial customer with 10 or more employees or with a group turnover or balance sheet which exceeds 2 million Euros, a trustee of a trust with a net asset value of £1m or more, or a charity with an annual turnover income of £1m or more).

We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our financial obligations.  This depends on the type of business and the circumstances of the claim.  If you are eligible, compensation is available for insurance advising and arranging as follows:

Until 31st December 2009 - cover for 100% of the first £2,000 and 90% of the remainder without any upper limit.

From 1st January 2010 - cover for 90% of the claim with no upper limit.

For compulsory classes of insurance - cover for 100% of the claim with no upper limit.

Further information about the compensation scheme is available from
the FSCS.  Telephone 020 7892 7300 or www.fscs.org.uk.

 
PAYMENT OF PREMIUMS
Payment for insurance is due immediately on presentation of an invoice, unless otherwise agreed in writing by a director of T H March & Co Limited.  We will accept payment of premiums by cheque, debit or Mastercard or Visa cards, or subject to their terms and conditions, you may be able to spread your payments through an insurer's instalment service or by using a credit scheme that we will introduce you to through a finance provider.

We will give you information about your payment options when we provide an insurance quotation.  For any mid-term alteration to an existing policy immediate payment is required upon receipt of our invoice.

If payment is not received in accordance with our stated terms, or those of the instalment or credit service, we will take whatever steps we see fit in order to mitigate our position, which may include cancellation of your policy/policies.  This would mean a part or all of any insurance claim would not be paid.  We reserve the right to offset any unpaid premiums relating to a policy against any claims money payable to you or any other amount due to you.

OUR REMUNERATION
We normally receive commission from insurers or product providers and/or premium finance arrangements, but do not make any additional charge for handling your insurances.  Any quotation you receive will tell you the total price to be paid.  Any taxes and charges will be shown separately from the premium before your insurance arrangements are concluded.

In addition to commission received in respect of payments made by you, we may receive remuneration by way of administrative fees or commissions for services provided to insurers.  We do not accept any commissions or fees from any security services we may introduce you to.

HANDLING CLIENT AND/OR INSURER MONEY
We hold money collected from you for onward transmission to the insurer, and return premiums/credits/claim payments from insurers, in a Client Bank Account under a Non-statutory Trust in accordance with the authorisation we have from the Financial Services Authority to do so.  Such money is either client money held on your behalf, or insurers' money held on behalf of insurers in accordance with a written agency agreement.

The aim of the trust is to protect you in the event of the failure of T.H.March & Co Limited, or the failure of the bank or third party at which the money may be held.  In such circumstances, our general creditors should not be able to make claims on client money as the money does not form part of our assets.  Under the trust we are entitled to and may use client money held on behalf of one client to pay another client's premium before the premium is received from that other client, and to pay claims and premium refunds to another client before we receive payment from the insurer.  However, we are not entitled to withdraw commission in respect of your policies before we receive your premium.  For the purpose of some transactions, client money may pass through other authorised intermediaries before it is received by the insurance undertaking. 

Unless we tell you otherwise, monies received from you or payable to you, or to others on your behalf, will be held as insurers' money.

Interest will not be paid to clients in respect of money held in client bank accounts.

CANCELLATION OF INSURANCES
You must make any request for the cancellation of a policy in writing. Any relevant certificate must be returned to us.  The terms of your policy may allow insurers to retain the premium in full, retain a minimum premium or charge short-period or pro rata premiums in the event of cancellation.  Please see your summary of cover or policy documentation

 
CONFLICTS OF INTEREST
Occasions can arise where we or one of our product providers will have a potential conflict of interest with business being transacted for you.  If this happens and we become aware that a potential conflict exists, we will write to you to detail the steps we will take to ensure fair treatment and obtain your consent before we carry out your instructions.

TERMINATION OF AUTHORITY
You may terminate our authority to act on your behalf with 14 days notice, or as otherwise agreed, without penalty.  Notice of this termination must be given in writing and will take effect from the date of receipt.  Termination is without prejudice to any transactions already initiated which will be completed according to these terms of business unless otherwise agreed in writing.  You will be liable to pay for any transactions or adjustments effective prior to termination and we will be entitled to retain any and all brokerage payable in relation to policies placed by us prior to the date of termination.

YOUR RESPONSIBILITIES
You are responsible for providing the complete and accurate information which insurers require in connection with any proposal for insurance cover.  This is particularly important before taking out a policy and at renewal, but it also applies throughout the life of a policy.  Failing to disclose any information material to the insurance could invalidate the policy and mean that claims may not be paid.  You should check all details on any proposal form or Statement of Facts and pay particular attention to any declaration you may be asked to sign.

You should read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply.  Particular attention should be paid to any warranties and conditions as failure to comply with them could invalidate your policy. 

You should take note of the required procedures in the event of a claim, which will be stated in the policy documentation.  Generally, insurers require immediate notification of a claim or circumstances that might lead to a claim.

You should inform us immediately of any changes that may affect the services provided by us or the cover provided by your policy. If you are unsure about any matter, please contact us for guidance.

CONFIDENTIALITY OF DATA
All client information is treated by us as confidential and is processed in accordance with the relevant legislation.  We will not use or disclose  information about you without your consent, other than in the normal course of arranging and administering your insurances, except where we are compelled by law (including by regulators or law enforcement agencies) to disclose such information.  In such instances information held by us may be disclosed on a confidential basis, and in accordance with the Data Protection Act 1998, to such third parties.

LAW APPLICABLE TO THIS AGREEMENT
Unless specifically agreed to the contrary, this agreement shall be subject to English law.

TOBAv6 01-02-10