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Terms of Business Letter for Therapist Insurance

 

Important Document Please Read and Retain

 

Accepting our Terms of Business and The Financial Conduct Authority (FCA)

Therapist Insurance is part of the I4G LLP. For the purposes of insurance I4G LLP are appointed representatives of Balens Limited, Bridge House, Portland Road, Malvern, Worcestershire WR14 2TA who are authorised and regulated by the Financial Conduct Authority. The FCA registration number for Balens is 305787. The FCA registration number for Therapist Insurance is 511647

By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business. For your own benefit and protection, you should read these terms carefully. If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you, please contact us on 01926 686 600. Alternatively you can contact Balens on 01684 893006. 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 FCA’s Register by visiting the FCA website: www.fca.org.uk or by contacting the FCA on Tel: 0800 111 6768.

Our Service

We offer Malpractice insurance using one insurer called Zurich Insurance plc and the legal package is offered by DAS Legal Expenses Insurance Company Ltd (DAS), All Risks - Covea Insurance plc, Personal Accident cover – W.R. Berkley Insurance (Europe) Limited. This service is provided on a non-advice basis.

We will not in any circumstances act as an insurer nor guarantee or warrant the solvency of any insurer. This document sets out our commitment to you as our client and outlines the principles we follow in doing business with you.

Occasionally, if you have a bespoke insurance requirement, we will refer your case to Balens Limited and follow their guidance. In these circumstances Balens Limited will select the Insurer and this will usually be from a panel of insurers who meet the requirements of Complementary Therapists and Health Professionals.

Complaints and Compensation

We are an Ethical Firm and aim to provide you with a high level of customer service at all times. If you are not satisfied please contact Balens in writing, Mr. J. Balen, Balens Ltd, Bridge House, Portland Road, Malvern, Worcs, WR14 2TA or by phone on Tel: 01684 893006 and ask for Mr. Balen or email  joe@balen.co.uk  or complaints@balens.co.uk. When dealing with your complaint we will follow our complaint handling procedure; a copy of which is available on request. If you are still not satisfied, you may be entitled to refer the matter to the Financial Ombudsman Service (FOS) (except in the case of a business employing 10 persons or more and with a turnover or annual balance sheet total exceeding €2 million, a charity with an annual income of £1 million or more or trustees of a trust with a net asset value of £1 million or more).  For further information you can visit FOS website www.financial-ombudsman.org.uk. You may also refer to the EU Online Dispute Resolution Platform https://webgate.ec.europa.eu/odr.

We are covered by the Financial Services compensation Scheme (FSCS). You may be entitled to compensation from the 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 90% of the claim, without any upper limit. For compulsory classes of insurance (such as Employers Liability), insurance advising and arranging is covered for 100% of the claim without any upper limit. Further information about compensation scheme arrangements is available from the FSCS on 020 7892 7300 or www.fscs.org.uk.

In certain circumstances, if the Insurer of your policy is W.R. Berkley UK Limited you may wish to contact the insurer directly: W.R. Berkley UK Limited, Compliance Department 40 Lime Street, London, EC3M 7AT, Telephone:   +44 (0)20 7088 1969, Email:complaints@wrbunderwriting.com]. In the event that you remain dissatisfied, it may be possible, in certain circumstances, for you to refer the matter to Complaints team at Lloyd’s. Their address is: Complaints, Lloyd’s, One Lime Street, London, EC3M 7HA, Tel: 020 7327 5693  complaints@lloyd’s.com

Payment for our Services

In addition to the premiums charged by insurers, we make charges for handling your insurance. Balens Limited will normally receive commission from the insurers or product providers, details of which are available on request from Balens Limited. You will receive a quotation, which will tell you the total price to be paid, showing any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded. We also draw your attention to the sections headed Cancellation of Insurances and Ending your Relationship with us. If in error, any of our clients overpay their insurance by less than £3, the overpayment will be donated to charity. Any overpayments of £3 or more will be refunded to the insured by the same method as the initial payment received. If you would prefer refunds of less than £3 to be paid to you or you wish to know more about our Charitable donations, please contact us.

Handling Money 

Any insurance premium paid to the Insurance 4 Group will be held in a Statutory Trust Account pending onward transmission to Balens Limited. Please contact Balens Limited if you wish to know how they handle insurance premiums.

Cancellation of Insurances

You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance must be returned to us. You are entitled to cancel the policy within 14 days from the day after the day of conclusion of the contract. You will be charged for reasonable costs incurred in relation to the cover and services provided. Cancellation by you in other circumstances may result in enhanced, short-period charges as determined by us and/or the product provider. You should also be aware that, in certain circumstances according to the terms of the policy, insurers may be entitled to cancel your policy and allow a proportionate return of premium. This does not apply to short term policies of less than one month’s duration such as commercial risks, also many of our specialist malpractice and professional indemnity policies do not have a return of premium available. If you allow your insurance policy to lapse we may not be able to reinstate the policy incorporating previous terms, conditions or at the same costing.

When buying you insurance from Therapist Insurance you agree to supply proof of qualification within 10 days. If, upon receipt of your qualifications, it is deemed that we cannot offer you cover we will refund your premium in full and cover will be cancelled from inception. If after 10 days, we have not received your copy qualifications, despite reasonable reminders by us, all cover is cancelled from inception and your premium will be refunded less a deduction for reasonable administration costs incurred up to and not exceeding £12.00.

Ending our Relationship

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. Unless otherwise agreed in writing, if our relationship ends, any transactions previously initiated will be completed according to these Terms of Business. You will be liable to pay for any transactions concluded prior to the end of our relationship and we will be entitled to retain commission received for conducting these transactions, together with all fees charged by us for services provided.  In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days’ notice.

Your Responsibilities

You are responsible for answering any questions or assumptions you may agree to honestly and to the best of your knowledge, 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 but also at renewal or if you make a mid-term amendment to your policy. If you fail to disclose information, or misrepresent any fact which may influence the insurer’s decision to accept the risk or the terms offered, this could invalidate the policy and mean that claims may not be paid in part or full. They might also be entitled to keep any premium you have paid. For your protection, insurers maintain databases to prevent fraud and the information you give us may be subject to checks. If you are a commercial customer, you have a duty to give a fair presentation of risk to the insurer. This requires disclosure of every material circumstance which you and where applicable your senior management or persons responsible for your insurance know or ought to know following a reasonable search of information available. It should include all facts that would influence the judgement of the insurer or that would put the insurer on notice that it needs to make further enquiries. The information must be presented in a way which would be reasonably clear and accessible to a prudent insurer. If you are unsure whether to disclose any information you should speak to us. Failure to provide the ‘fair representation’ may result in a number of remedies by the insurer. If the breach was deliberate or reckless the insurer can void the contract and keep the premium. If the breach was not deliberate or reckless the insurer can apply whichever remedy relevant to the way they would have acted if the breach had not occurred. This could include rendering the insurance void, proportionately reducing a claim settlement or amending the insurance policy terms and conditions then reviewing the merits of a claim on this basis. You should therefore always provide complete and accurate information to us when questioned regarding the insurance risks your business faces before taking out a policy, at renewal and throughout the life of the policy. This also applies to your responses in relation to any assumptions you may agree to in the process of applying for insurance cover. You must 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 must 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 must 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 must inform us immediately of any changes in circumstances 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. Changes of Circumstances Notification -You must notify us in writing if there are any changes since originally completing your proposal form or other relevant documentation, as this could have a bearing on your cover.  We undertake to notify this to your Insurers and supply appropriate documentation for the alteration.

Use of Personal Data

We will process any personal information we obtain in the course of providing our services to you in accordance with the Data Protection Act 1998. In administering your insurances and/or claims it will be necessary for us to pass such information to insurers and other product or service providers. We may also disclose details to relevant parties, as necessary, to comply with regulatory or legal requirements. We will not otherwise use or disclose the personal information we hold without your consent. Some of the details you may be asked to give us, such as information about offences, are defined by the Act as sensitive personal data. By giving us such information you signify your consent to its being processed by us in arranging and administering your insurance. Subject to certain exemptions, you will be entitled to have access to your personal data for which we reserve the right to charge a reasonable fee (as at 1 January 2008 a reasonable fee in connection with this matter is defined as £10). We will maintain records of the insurance contract(s) we arrange on your behalf. It is our policy to keep records in accordance with best practice within the insurance industry. We are happy to provide this service free of charge for as long as you are our client.

Claims Handling Arrangements

It is essential that we are notified immediately of any claims, or circumstances which could give rise to a claim providing details honestly and accurately. Your policy wordings will describe in detail the procedure and conditions in connection with making a claim. The final decision regarding the payment of a claim will be made by the relevent insurer. When providing a claims handling service we will:

  • Employ due care and skill if we act on your behalf in respect of a claim.
  • Give you guidance on pursuing a claim under the policy and, if required, negotiate with insurers on your behalf.
  • Provide you with information about how to handle complaints and potential clashes between you and your clients.
  • Inform you in writing if we are unable to deal with any part of a claim.
  • Handle claims fairly and promptly and keep you informed of their progress.
  • Account to you, without avoidable delay, once a claim has been agreed and settled.

Settlement of claims will be dependent upon decisions and collection from insurers. Part payment may be made during the collection process, but we cannot be responsible for the wrongful non-payment or delay by insurers in paying any claim. Claims information may be used by Balens or insurers concerned for underwriting, statistical analysis, management information, market research and risk management. Insurers may pass your claims information to the Claims and Underwriting Exchange Register, run by Insurance Database Services Ltd (IDSL) & the Association of British Insurers (ABI). Also, to prevent and detect fraud, insurers may share your claims information with the Police. We may also share your claims information with any association or professional body that you are a member of.

Quotation Validity Period

There is usually a 15 or 30 day validity period after which it will be necessary to re-quote. This will be stated in your quotation letter which you should refer to. It will be necessary to sign a further declaration after a 30 day period has expired in order to go on cover or continue cover. Cover for previous work performed (retroactive cover) may not be included by Insurers if a gap has occurred between a previous policy and a new or renewal one. Cover also needs to be provided after termination (run-off) on some of our specialised policies should you not take up a renewal from us, it is important to always refer to our instructions and information in this regard.

Governing Law

The I4G LLP and Balens Ltd undertake its activities as an insurance intermediary in accordance with the Laws of England and Wales and any disputes will be governed by and construed in accordance with the Laws of England and Wales.

Conflicts of Interest

Occasions can arise where we or one of our clients or product providers may 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 and obtain your consent before we carry out your instructions and we will detail the steps we will take to ensure fair treatment.

Treating Customers Fairly

As an Ethical Firm we aim to treat our customers fairly.

Call Recording

For training and monitoring purposes your telephone conversations with us may be recorded.

 

 

 

 

 

 

 

For the purpose of Insurance, Therapist Insurance is a trading name of I4G which is an Appointed Representative of Balens Ltd, Bridge House, Portland Road, Malvern, Worcestershire, WR14 2TA who are authorised and regulated by the Financial Conduct Authority