Terms Of Business Agreement (TOBA)

This TOBA sets out our terms and conditions and is effective once it is received by you. It will remain in force until we issue a revised version. We request that you read this TOBA carefully, in conjunction with our correspondence, so you understand the basis of our services and charges.

Material Information we will need from you
We will ask you a series of questions to establish your demands and needs; and it is important that you answer each and every question and provide us with full information. If you are unsure of a question or are uncertain as to whether you must tell us certain information, please ask us to explain what is needed to you. Your answers will form the basis of the insurance contract we arrange for you. It is important that we obtain full details from you in order to prevent an Insurer requiring additional premium or declining your claim.
Our quotation to you
We will seek quotations from a range of Insurers. Certain products may be offered on behalf of a limited range of Insurers and where this applies, we will provide you with the names of the Insurers, if you request them. Other products may be offered on behalf of a single provider who will be named on correspondence and on your documents. Once we have all the relevant information, we will advise you and make a recommendation which is based on your demands and needs and the answers provided by you. All premiums quoted are subject to the current rate of Insurance Premium Tax (IPT) as defined by HM Government.
Premium received from you
Premium received from you will be held by us as Agent of the Insurer and the account is designated as per the relevant regulatory rules. We pass premium received from you to the insurer when requested. We earn a commission for arranging your insurance and this goes towards our administration costs. Commercial Clients are able to request details of the commission we receive for arranging such insurance.
Fees and Charges
We may include an administration fee or charge in relation to transactions arranged for you. You will be advised of the amount we charge at each transaction verbally, in writing or both. In addition, we will make a charge of £10 in relation to duplicate documentation and £25 in the event of a default in payment.
Finance and Credit checks
In the event that your insurance has been arranged on finance, we will advise you of the name of the finance provider, the initial amount required by the Insurance Company and the additional premium you will be required to pay if you select to pay on premium finance. We will also advise you of the amounts you will be required to pay and when; and you should be aware that certain Insurers and Finance providers may carry out credit checks when arranging your insurance. Please read the information provided by your finance provider carefully, including the cancellation arrangements, in conjunction with our Terms of Business Agreement and your Insurers information. We receive income from the finance provider for arranging your insurance payments with them.
You have certain rights in relation to the cancellation of your insurance in the early stages, and these are set out in the Insurer’s documentation. Cancellation terms vary by Insurer and it is recommended that you read this section carefully, as cancellation refunds are not given after a claim, and are otherwise calculated on a short period scale weighted in favour of the insurer. Cancellation during and after the “cooling off” period is explained in your policy wording.
Tacit Renewal
In the event that your renewal is paid by insurer instalments, we will notify you prior to the renewal date of the premium and terms and conditions that will apply. Unless we hear from you on or prior to renewal date, your policy will be renewed and payments will continue to be taken from your account.
Complaints Procedure
Should you have cause to complain, please telephone or write to the Office Manager, in order that the matter may be resolved to your satisfaction. We will write to you to advise you of the person who will investigate your complaint and we will thereafter communicate with you at regular intervals to keep you informed. You will be provided with a copy of our complaints procedure which sets out the procedure and timescales for handling your complaint. If your complaint is not resolved to your satisfaction, you may refer to the Financial Ombudsman Service, details of whom are available on their website and we will provide you with contact details.
Consumer vulnerability
As a regulated firm we are required to make the necessary enquiries to ensure that you are able to meet any payments to the Insurer, finance provider and our administration fee or charges. We are also required to have in place systems and controls and disclosure information which ensures that you are receiving the product which best suits your demands and needs and have received a full explanation of each product before you proceed with your purchase. If you require additional information or explanation, we ask that you request this when seeking a quotation and / or when purchasing insurance.
Financial Services Compensation Scheme (FSCS)
We are covered by the 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. Full information is available on the FSCS site
Financial Crime
Please be aware that current UK money laundering regulations require us to obtain adequate ‘Know Your Client’ information about you. We are also required to cross check you against the HM Financial Sanctions List as part of the information gathering process. We are obliged to report to the National Crime Agency any evidence or suspicion of financial crime at the first opportunity and we are prohibited from disclosing any such report. We will not permit our employees or other persons engaged by them to be either influenced or influence others in respect of undue payments or privileges from or to insurers or clients.
Confidentiality and Data Protection
We will treat all customers’ information in a confidential manner and will ask you a set of questions to ensure that we are speaking to the policyholder only. We are not authorised to speak to another person in relation to your insurance and will decline any request for information or to make alterations to your policy unless we have a legal mandate to do so. Your details will be held in compliance with the General Data Protection Regulation (GDPR). You have certain rights in relation to how and when we may contact you and we will ask you a series of questions to determine your needs. You also have the right to be forgotten and should you request this option, we will explain what this means to you. Data held about you is secure and complies with GDPR rules. Details of any credit or debit card used in connection with the arrangement of your insurance will not be held by us on computer or file; and will not be passed to a third party.
This agreement shall be governed by the Laws of England, and the parties agree herewith that any dispute arising shall be subject to the (non) exclusive jurisdiction of the relevant Court.

You are a valued Customer and we will do all we can to match your expectations. However, as we are authorised and regulated by the Financial Conduct Authority (FCA), we are required to point out to you that you may be able to obtain a cheaper quotation elsewhere. Please be advised that in obtaining an alternative quotation from another source, we encourage you to obtain confirmation that this is on a “like for like” basis and that certain aspects of cover are not reduced or excluded.

Cofton Insurance Services Limited is authorised and regulated by the Financial Conduct Authority under number 304327.
You can check this on the FCA website There is no holding between ourselves and any other insurer – May 2018

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