Insurance Terms of Business

Authorisation

F & R Associates are classified as an Independent Intermediary, authorised and regulated by the Financial Services Authority (FSA). Our FSA reference number is 450712. We also provide Travel insurance under the trading name of Holiday Insurance Cover. We are also authorised to provide Liability Insurance under the trading name of Cover My Business. You can check this by visiting the FSA's website at www.fsa.gov.uk or by telephone on 0845 606 1234.

Ownership

F&R Associates is 100% owned by its working Partners. We do not have any holding in any insurer. Likewise, no insurer has any holding in us.

Demands & Needs

Before your insurance contract is concluded we will provide you with a statement setting out your demands and needs. This may be incorporated within other documentation we provide. If you request it, or if you require immediate cover, we can give you this information verbally but in any event we will provide the statement immediately after conclusion of the contract.

Whose products do we offer

We offer products from a range of Insurers for both personal (retail) and commercial (non-retail) insurance. In some instances the type of product or the circumstances of the client may reduce the number of Insurers that we are able to use.

Your duty to disclose material information

You must provide complete and accurate information when you take out your insurance. If you do not, your cover may be seriously affected and a claim turned down. This is an ongoing duty and applies equally when there are any changes to the policy, or at renewal. If you are in any doubt whether something is material or not then you should disclose it.

Remuneration & Fees

We are paid a commission by the Insurer for arranging the policy. In the event of a mid-term adjustment or cancellation of a policy we will be entitled to deduct the amount of the commission earned from any refund we give you. We may, at our discretion, make an additional charge to cover administration costs. If we do, we will tell you what it is before you make a payment.

Client money

All Client moneys received by us are held in an approved Client Bank account (statutory trust) with Lloyds TSB. Insurer(s) are paid from this account. We may receive interest on this money which you consent to us retaining.

Conflicts of interest

There may be occasions where a conflict of interest arises. If this happens, we will inform you and obtain your consent before proceeding. For example, an Insurer may give us authority to settle claims on their behalf.

Duty of Care

We treat all Client information as confidential. No information will be passed to another party without your prior consent unless we are legally obliged to do so, or to meet our regulatory requirements. We cannot be held responsible for incorrect data held in the event of a non-disclosure.

Data Protection Act 1998

This Act gives you certain rights as regards accessing your personal data information held by us. We may make a (prior) charge for providing a copy of any information we hold in this manner.

Complaints

We try to provide you with a professional service, acting fairly at all times. If you have any complaints about our service please address your letter to: Peter C Burnett FCII , Complaints Officer, F&R Associates, 1 Inner Street, GRANTHAM, Lincs NG31 6HR

Financial Services Compensation Scheme (FSCS)

We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation From this scheme if we cannot meet our obligations to you. Further details can be found at http://www.fcsc.org.uk or by ringing 020 7892 7300.

Claims

Details of how to make a claim against your policy (including contact information) can be found in your policy booklet. We will give you reasonable assistance where possible.

If we cannot assist you we will tell you why (eg conflict of interest).