TERMS OF BUSINESS

Name and Address  

Shadow Insurance Services Limited is an Appointed Representative of John Henshall Ltd (t/a Henshalls Insurance Brokers)

Shadow Insurance Registered address is:

Office 1, 327 Pye green Road, Cannock, Staffs, WS11 5RN.

Tel: 01543 720 120 - Email:enquiries@shadowinsurance.co.uk - Website:www.shadowinsurance.co.uk

Regulation  

We are authorised and regulated by the Financial Conduct Authority (FCA) to sell, administer and advise on non-investment insurance contracts.   Our Firm Reference Number is (FRN 604927) Company number 08647419    Our details can be checked by visiting the FCA's website ttp://www.fca.org.uk/firms/systems-reporting/register/search or by contacting the FCA on 0845 606 1234.

Complaints Procedure    

It is our intention to provide you with a high level of customer service at all times but if you should wish to make a complaint please do not hesitate to contact a Director.    If we are unable to resolve the problem it can be referred to the Financial Ombudsman Service for eligible complainants.   Further information and a copy of our procedures are available on request.

Holdings

We have no direct or indirect holdings in any other firm.   No insurance undertaking has any direct or indirect holdings in our Company.

The Financial Services Compensation Scheme  (FSCS)

In the unlikely event that our Company becomes unable to meet its liabilities, eligible claimants are entitled to compensation from the scheme.    Full details are available from us or by visiting www.FSCS.org.uk.

Our Service

We act as your agent to advise on and arrange your insurance.   We offer a wide range of personal and commercial insurance products and have access to leading insurers in the market place.   Our service includes advising you on your insurance needs, arranging your insurance cover with insurers to as far as possible meet your requirements and helping you with any ongoing changes you have to make.   As part of our service we will also assist you with any claim you need to make including where relevant the recovery of any uninsured losses you may incur.   For some policies we arrange the insurance companies insist that you deal with them direct in the event of a claim, but we will still provide you with assistance if required.   We will on occasion arrange cover through a specialist intermediary instead of directly with the insurer.   We will keep you informed of all parties concerned should the need arise.

We are not under any contractual obligation to conduct insurance business with one or more insurance undertaking.    We usually provide information and advice on the basis of a fair analysis of the market.   For some policies it will be from a limited number of insurance undertakings, or from a single insurance undertaking.   We will inform you accordingly.

Quotations

We will honour any quotation that is based on full and correct information.   We reserve the right to alter or withdraw quotations in the event of subsequent relevant information being disclosed.

Responsibility for your money

We hold all client money separately from ours in a non-statutory client money trust, allowing us to advance credit where necessary.   In most circumstances we have written agreement from the insurers and intermediaries that we use to say that client money will be deemed to have been received by them when it has been received by us, and we will tell you if this is not the case.   We will retain any interest earned on it. By accepting these Terms of Business you are giving your consent for us to operate in this way.

Your Responsibility

Your responsibilities will vary according to whether your policy is a 'Consumer Insurance Contract' or a 'Commercial Contract'.

A 'Consumer Insurance Contract' is an insurance policy for an individual who needs the policy wholly or mainly for purposes unrelated to a trade, business or profession.

A 'Commercial Contract' is an insurance policy that is needed wholly or mainly for the purposes of a trade, business or profession.

It is your responsibility to provide complete and accurate information to insurers when you take out your insurance policy, throughout the life of your policy, when you renew your insurance and when you claim.   It is important that you ensure that all statements you make in response to any request for information from insurers are full and accurate and, that you do not make any misrepresentation or leave anything out when asked.   You must check any form that you sign or any statement of facts relating to your policy.   Reckless, deliberate or even careless mistakes could result in your insurance company refusing to deal with all or part of a claim.

We will point out key facts, significant features and benefits, and significant or unusual exclusions or limitations, and answer any questions you may have regarding the insurance contract.   However, it is impractical to explain all the terms and conditions at the outset.   It is your responsibility to read the Policy Document and any other information provided, and if there is anything that you do not understand it is important that you contact us for an explanation.

In addition, when entering into a 'Commercial Contract', please note that if you fail to disclose any material information to your insurers, this could invalidate your insurance cover and could mean that part or all of a claim is not paid.   If you are unsure whether information is 'material' you should disclose it.

Account Settlement    

All accounts are payable immediately and extended credit charges may be made for overdue items.   Our agency agreements with the insurers do not allow us to release certificates until the premium has been paid or a credit arrangement accepted.   We reserve the right to arrange for the policy to be cancelled in the event of non-payment.   In the event that we have to withhold documentation we will still make sure that you have any documentation which you are required to have by law.   We reserve the right to refuse payment by a large amount of cash.

Remuneration

We normally receive commission on each policy, which will be a percentage of the insurance premium (before Insurance Premium Tax).   This percentage varies depending upon the product and the provider.   We also charge a fee at inception and renewal to cover additional administration during the term of the policy such as advice, mid-term adjustments and claims assistance.   We reserve the right to negotiate additional fees for any extra work or services undertaken.   In the event of the cancellation of a policy most insurers do not allow refunds if there has been a claim during the current period of insurance, and any refunds that are given are normally calculated on a 'short period' scale, because the insurer’s costs are similar whether the policy has run for one month or twelve.   Similarly, we reserve the right not to refund commission because this has been earned for arranging the policy.

Commercial clients are entitled at any time to request information regarding any earnings which we may have received as a result of placing their insurance business.

Financial Security of Insurers  

We do not, in any circumstances, guarantee or warrant the solvency of insurers.   However, we continually monitor the situation and will always act in your best interests in the case of adverse information.  

Confidentiality and Marketing Information  

All personal information about you will be treated as private and confidential.   We will use and disclose information we have about you in the normal course of arranging and administering your insurance and we may use information we hold about you to provide information to you about other products and services which we feel may be appropriate to you.   If a third party credit scheme is used to pay premiums we may pass information about you to credit reference agencies and we may also pass them details of your payment record with us.

If you do not wish to receive marketing information from us or to allow us to disclose information to other parties for marketing purposes please write to us confirming your instructions.   You may request to see your personal information that we hold on our records by written request.

September 2013

Recommend a friend Terms:

For each referral you make to Shadow Insurance where the policy remains in force for a minimum period of 3 months, we agree to either pay you £20 directly or offer you a discount of £20 off your next insurance policy with Shadow Insurance; you can choose which you would prefer.  All payments will be made after the relevant referral has been on cover for a period of 3 months. The right for payment is at the discretion of Shadow Insurance and is subject to clarifying that the referral is a legitimate referral from you and can be proven as such.  We reserve the right to withdraw this offer at any time without any notice period.