Walter Wright Insurance Brokers Limited
Terms of Business

1. COMMENCEMENT DATE
This Terms of Business comes into effect on the date you receive it from us.

2. OUR FIRM
We are authorised and regulated by the Financial Services Authority (FSA) under reference number 306745. Our permitted business is arranging general insurance contracts.

You can check this on the FSA’s register on www.fsa.gov.uk/register or telephone 0845 606 1234.

3. OUR SERVICES
We are Insurance Brokers and act as an independent intermediary to advise and arrange insurance.

Our services include arranging insurance cover to meet your needs, providing ongoing advice on the arranged insurance, assisting you with any claim which falls within the cover provided and advising you on insurance matters in general.

We offer independent advice and as we are not tied to any insurance company, we are able to survey the insurance market in order to find the most suitable product for you and can advise you on the products from a range of companies. We will only ever recommend a course of action if we believe it to be suitable for you. If you want to restrict the area of advice, you can confirm this to us and we will act accordingly.

 4. HOW WE ACT FOR YOU
Before we can obtain a quotation we require information from you. What information we require depends upon your risk profile and can involve an extensive fact find.

When providing a quotation we will tell you for how long it is valid.

We can accept your instructions to place insurance with an insurer.

We will provide you with a summary of the basic terms of the insurance we have arranged, together with the cost. These details will be confirmed in a durable medium such as letter, facsimile, disc or email.

You should check the information to ensure cover is in accordance with your requirements. Any changes that may be required should be notified to us immediately.

We will provide claims handling services during the policy period for those policies placed by us and a claim is notified to us by you.

 5. LIMITATION
Should you request a quotation for a specific class or insurance, we will obtain terms on your behalf without reference to other classes of business.

 6. PAYMENT TERMS
Documents will be passed to you clearly stating the amount of insurance premium, Insurance Premium Tax, VAT and any fees. Unless alternative arrangements are agreed and confirmed in writing by us, all invoices and other requests for payment are due on or before the stated due date.

Payment may be made by cash, cheque or Bacs.

Credit facilities may be available upon request. We are registered under the Consumer Credit Act under licence number 065561.

Premiums will be held as client money. We hold insurer money on their behalf. We pay client money to other parties who arrange insurance on our behalf, such as our Lloyds placing broker. We will not pay interest on money held on behalf of clients or insurers.

7. REMUNERATION
We are remunerated from fees agreed with you and from commission paid to us by insurers with whom we place insurance.

Any fees will be clearly stated prior to cover being effected.

Commission and fees are earned for the policy period. We are entitled to retain all commission and fees in relation to policies placed by us, even if the policy is cancelled mid-term, irrespective of whether or not the same have actually been received by us.

8. DISCLOSURE
It is your responsibility to provide complete and accurate information to insurers when you take out insurance, when you renew your insurance and throughout the life of the policy. Failure to disclose information pertaining to your insurance, or any inaccuracies in information given, allows the insurer to avoid the coverage. The insurer is not required to make enquiries, the onus falls on you. If you are in any doubt about whether information is material, you should disclose it.

It is important you ensure that all statements on proposal forms, claim forms and other documents are full, true and accurate before signing the document.

9. DOCUMENTATION
You are advised to keep copies of all correspondence you send to us or send direct to your insurer.

You should review the evidence of insurance to confirm that it accurately reflects the cover, conditions, limits and other terms that you require. Particular attention should be paid to the policy conditions and warranties as failure to comply may invalidate your cover.

You should check the claims conditions. Generally, insurers require immediate notification of any claim or circumstance that might give rise to a claim. Failure to comply may entitle the insurer to deny claims.