TERMS OF BUSINESS FOR OBTAINING QUOTATIONS FOR AND BUYING HOLIDAY PROPERTY INSURANCE ONLINE FOR UK DOMICILED PRIVATE INDIVIDUALS, SOLE TRADERS, PARTNERSHIPS AND COMPANIES ONLY.
These terms apply to the service that we offer enabling you to obtain quotations for and buy holiday property insurance online at our website www.cottagesure.co.uk
Arthur J. Gallagher Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority. Registered Office: Spectrum Building, 7th Floor, 55 Blythswood Street, Glasgow, G2 7AT. Registered in Scotland. Company Number: SC108909. You can check our status and permissions at https://register.fca.org.uk or by contacting the FCA on 0800 1116768.
Our permitted business includes advising, arranging, dealing in and assisting with the placing and administration, credit broking in respect of all types of General Insurance policies.
The service offered by Gallagher asks you to provide certain details about your holiday property and the insurance that your holiday property requires and then provides you with details of one or more holiday property insurance policies that may meet your requirements for holiday property insurance. If we cannot provide you with online insurance quotations we will contact you to discuss your requirements in more detail before providing quotations.
When purchasing insurance online or where we have not been able to speak with you personally, Gallagher will not provide advice or make a recommendation of which insurance policy is the most suitable for you. You will need to make your own choice about how to proceed after we have provided details of available policies based on the information that you provide.
Cottagesure quotations are provided on the basis of a Single Insurer, we review the product regularly to ensure it offers wide cover at a competitive premium. You can ask us at any time to confirm the insurers that we conduct business with.
Our telephone system is capable of recording conversations. As with most organisations, this is standard practice that allows the recording of telephone calls for quality monitoring, training, compliance and security purposes. You will be advised at the start of the call if your call is being recorded. Personal data collected in the course of recording activities will be processed fairly and lawfully in accordance with the Data Protection Act 1998. Call recordings will be held for a period of 12 months and then deleted, subject to it not being needed for ongoing quality and control purposes or criminal actions.
Your duty to provide accurate information
Commercial Customers - Your Cottagesure insurance is based upon the information provided to the insurance company. Unless you are a Consumer (an individual buying insurance wholly or mainly for purposes unrelated to their trade, business or profession) you must present the risk (i.e. the subject matter of the proposed insurance) fairly. This means that you must disclose to insurers, before the setting up or renewal of your insurance policy is concluded, anything that might influence the judgement of an insurer in fixing the premium, setting the terms or determining whether they would take the risk. If you are uncertain whether anything is material, you should disclose it.
In order to identify what must be disclosed, you are obliged to carry out a reasonable search before presenting the risk to insurers. This includes (but is not limited to) consulting with all senior managers. A senior manager is anyone who plays a significant role in the making of decisions about how your activities are to be managed or organised, regardless of whether or not that individual is a member of your board or is formally in a management role. You must also consult with anyone who has particular knowledge about the risk to be insured e.g. outsourced providers.
If you deliberately or recklessly (i.e. without care) fail to comply with your obligations to present the risk fairly, insurers may avoid the policy. This means they can retain all premiums and treat the policy as if it never exist and refuse to make any claims payments. You could also be obliged to repay any claims payments that had already been made. If you fail to present the risk fairly, but your failure was neither deliberate nor reckless, insurers response will depend upon what would have happened if you had complied with your obligations:
- if insurers would not have provided the policy, they may treat the policy as if it never existed, refuse to make any claims payments and demand the return of any claims payments already made. However, insurers would have to return any premium payments already made;
- if insurers would have provided the policy but on different terms, the policy will remain in force but will be treated as if those different terms applied from the start of the policy. This could result in a claim not being met in part or in full;
- if insurers would have provided the policy but charged a higher premium, insurers may reduce any payment in proportion to the difference between the premium charged and the premium that would have been charged if you had fairly presented the risk. This could result in a significant reduction to the amount of any payment under the policy.
In some circumstances, insurers may contract out of the above terms, in this event we will inform you and seek your agreement prior to placement of cover.
All statements and facts disclosed on proposal forms, statement of facts, claim forms and other documents should be full, true and accurate and must be given after undertaking a reasonable search, including consulting with your senior management. Where forms are completed on your behalf you must check them for accuracy and completeness before signing them. You must always read the declaration and make sure you understand it before you sign.
Use of your information
The section below also provides links to the third party payment processors that we use, including their terms and conditions which set out the use that they may make of your information.
Paying for your insurance
IMPORTANT – Payment of the premium must be processed online by you before cover commences at either inception or renewal of a policy. No days of grace are given and cover cannot be back dated.
When you have chosen an insurance policy or when accepting renewal of a policy, you will be offered the choice of paying the annual premium in full by credit or debit card, or by instalments using a credit loan agreement through Close Brothers Premium Finance to spread the cost of the premium over the term of the policy. Payments made by instalments will be subject to an additional interest charge which will be disclosed to you at quotation or renewal stage.
We use third parties to process all online payments, both lump sum and instalments. If you pay your premium in one lump sum, your payment will be processed by Elavon. If you choose to pay by instalments your payments will be processed by Close Brothers Premium Finance.
Close Brothers Premium Finance will then send you a welcome pack detailing their contact details and their full terms and conditions that you must read carefully. You will have the right to withdraw from the credit agreement within 14 days. Failure to sign and return the credit agreement will result in a charge of £12 that will be added to you credit agreement.
Please note that if you choose to pay by instalments and you fail to pay those instalments on time, you agree that we may instruct the relevant insurer on your behalf to cancel the insurance. We will inform prior to taking this course of action.
If any payment due in respect of the credit agreement you enter into to pay insurance premiums is not met when presented for payment, or if you end the credit agreement or if you do not enter into a credit agreement, we will be informed of such events by Close Brothers Premium Finance. If you do not make other arrangements with us to pay the insurance premiums you acknowledge and agree that we may, at any time after being so informed instruct on your behalf the relevant insurer to:
- cancel the insurance
- collect any refund of premiums which may be made by the insurer
If any money is owed to Close Brothers Premium Finance under your credit agreement you acknowledge and agree that we may pay it to them or if Close Brothers Premium Finance has debited us with the amount outstanding use it to offset our costs.
You will be responsible for paying any time on risk charge and putting in place any alternative insurance and / or payment arrangements you need.
If you fail to pay your instalments on time you may also incur further default charges to us or insurer or Close Brothers Premium Finance.
Following your initial payment (if paying by instalments) or payment of a premium in full you will be provided with your policy schedule to confirm that the cover is in place.
Premiums collected by Elavon or Close Brothers Premium Finance (see above) will be paid to us and held in our Statutory Trust client money account, in accordance with Financial Conduct Authority Rules. We will only take money from that account to:
- Pay your premiums over to insurers; and/or
- Deduct commission that the insurer has agreed to pay to us
- Refund premiums owed to you
in accordance with our agreements with insurers.
Our agreement with our Cottagesure provider grants us Risk Transfer, this means as soon as the premiums are paid to us (as the insurer's agent) they are treated as if they have been received by the insurer.
In the event that we become insolvent our clients would have first claim on any money held in the client account under the terms of that account as the money in the client account continues to belong beneficially to clients at all times we have legal ownership of the money but hold it on trust for our clients.
By accepting these Terms of Business, you are giving your consent for us to act in the manner described in this section.
How we are paid
We usually receive a commission from the insurer when placing your business and from the finance company when arranging finance for you. The commission we receive from the insurer is a percentage of the total annual insurance premium, and if you pay by finance, the commission we receive is a percentage of the interest paid under the finance agreement. We also receive an additional payment from the insurer, if we reach specific loss ratio targets dependent upon revenue & claims made.
If you ask us we will tell you the amount of commission that we have received in respect of any policy arranged for you.
Other taxes or costs, not imposed by or paid to by us, may apply to the products or services that we provide to you.
We value our relationship with you and we welcome feedback on the service you receive from us. Please tell us if you are dissatisfied with part of our service so that we can improve our products or services. Our aim is that you should benefit from a high quality service using our experience and breadth of insurance broking expertise. We always try to provide a high standard of service but if you ever have cause to complain, please do so by contacting your usual AJG representative by whatever means is convenient to you.
If you wish to deal with someone wholly independent of the branch or division that has been servicing your business, please contact:
Address: Complaints Management Team
55 Blythswood Street
We will acknowledge written complaints promptly. Our complaints procedure is available on request.
If you feel that we have not been able to resolve the matter to your satisfaction, after this process you may have the right (subject to eligibility) to refer your complaint to the Financial Ombudsman Service; this address is:
The Financial Ombudsman Service
London E14 9SR
Telephone: 0800 0234 567 (from landline)
Telephone: 0300 123 9 123 (from mobile)
Whether or not you make a complaint to us and/or refer your complaint to the Financial Ombudsman Service, your right to take legal action will not be affected.
Online Dispute Resolution Platform
The European Commission has established an Online Dispute Resolution Platform (ODR Platform) http://ec.europa.eu/consumers/odr/index_en.htm that is specifically designed to help EU consumers who have bought goods or services online from a trader based elsewhere in the EU and subsequently has a problem with that online purchase. The ODR platform will refer your complaint to the Financial Ombudsman Service which will pass it on to us.
Other territories may also offer complaints and dispute resolution arrangements that we are required to follow where we are held to be doing business there.
Please note the following cancellation conditions with regards to premium refunds:
- Where there has been a claim submitted during the current period of insurance your insurers are not obliged to allow a refund of premium. Any outstanding premiums owed on the policy e.g. outstanding instalments / credit agreement will become due immediately. Please note that we cannot process your claim until all outstanding monies are settled and cleared in full.
- Credit agreement charges are non-refundable.
- Cancellations will be refunded net of commissions.
Cancellation of your insurance can only be processed upon written or email confirmation from you.
We have no authority to handle claims on behalf of insurers. In the event of an incident occurring which may give rise to a claim under your policy, you should notify us as soon as possible using the contact details in your policy document or alternatively contact our Claims Manager on 01803 652065.
The Financial Services Compensation Scheme (FSCS)
We are covered by the FSCS. You may be entitled to compensation from the FSCS if we cannot meet our obligations. The level of cover provided depends on the type of business and the circumstances of the claim. Arranging insurance is covered for 90% of the claim with no upper limit or for compulsory classes of insurance, 100% of the claim with no upper limit. You can find out more about the FSCS at http://www.fscs.org.uk.
Language used and applicable law
We will communicate with you in English at all times before, during and after conclusion of your insurance contract. These Terms of Business and the contract between us to provide services to you will be governed by the law of England and Wales and subject to the exclusive jurisdiction of the court of England and Wales.
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