What to do if You have a complaint
Our aim is to provide a first class service, however, if You wish to register a complaint, please contact us by writing to ‘The Managing Director, Office 2, Ground Floor, Block B, Gatehead Business Park, Delph New Road, Delph, Oldham OL3 5DE’ or, by telephone on 01457 243 108 or, by email at firstname.lastname@example.org. If You cannot settle Your complaint with us, You may be entitled to refer it to the Financial Ombudsman Service, for an independent assessment and opinion. The FOS Consumer Helpline is on 0800 023 4567 and their website is at: www.financial-ombudsman.org.uk Or You can contact them by post at: Financial Ombudsman Service, Exchange Tower, London E14 9SR Claims All incidents which could lead to a claim must be reported as soon as practicable. Your insurer’s claims contact number is shown in Your policy. Sums Insured and Indemnity Limits You will be responsible for ensuring that all sums insured and indemnity limits are adequate for the cover requested. We will advise You of the basis of calculation for sums insured and will, on request, give You details of external experts, such as surveyors and valuers, which You may wish to consult. The following information on calculating business interruption sums insured is given for guidance, but You should always seek specific advice from us if You are in any doubt as to what should be included. Business Interruption / Loss of Profits Insurance Several types of cover exist; Gross Profit basis (usual for manufacturers, retailers etc); Gross Revenue basis (normally for consultants, professions); and Increased cost of working basis, for businesses that believe there would be no loss of profit or revenue in the event of a claim, but would need to cover increased trading costs until the claim is settled. ‘Accounting Gross Profit’ and ‘Insurance Gross Profit’ are not the same thing. Where Your policy includes this cover, the Sum Insured for ‘Gross Profit’ should normally be calculated using the following method: Annual turnover plus year-end stock and work in progress; less opening stock (and work in progress) and purchases, bad debts and uninsured variable expenses (such as the purchase of raw materials or shipping costs) Gross Revenue insures the total turnover without deductions and Increased Cost of Working is based on projected additional costs of temporary relocation and other forecast additional costs. Business interruption sums insured should then be adjusted to take into account the indemnity period (eg. doubled for 2 years indemnity period) Average In the event of under-insurance, Insurers may reduce the amount of any claim settlement in the same proportion as the sum insured bears to the total value of the insured items. Our Service and Obligations to You: We will conduct a fact-find to evaluate Your insurance needs with the member of Your business that You choose to nominate as Your Insurance Contact (as stated in the Declaration below), who will be responsible for ensuring that Your disclosure obligations to insurers are met. We will act as Your agent in sourcing a policy to meet Your demands and needs and presenting the information provided by Your nominated Insurance Contact in a manner which is clear and accessible to insurers. Where we operate under any delegated authority from insurers we will act as their agent when issuing cover and in handling any claim You may make, and We will always advise Y ou where this is the case. We will advise and make a recommendation for You after We have assessed Your demands and needs. Our advice will be confirmed in a demands & needs and suitability statement, giving the reasons for Our recommendation. We typically offer advice from a range of insurers, representing a fair analysis of the market, which means that We will have compared products from a sufficiently large range of insurance providers in terms of cover, price, quality of service and other relevant features in order to select appropriate policies for You. Under certain circumstances We may only deal with a limited panel, or single insurer and we will advise You of the identity of the insurers considered. We may use another, specialist, intermediary to access the insurance product that most suits Your needs. We will always inform You where this is the case. We usually receive commission from the insurer, which is taken from the amount You pay, and from the premium finance provider with whom We place Your business and, in addition, We will normally make the charges as shown in our Terms of Business Agreement to administer Your policy, but the specific charges applicable to Your policy will be included in Our Remuneration Statement. Prior to the conclusion of each insurance contract, or upon renewal, We will remind You of Your right to be advised of the level of commission which We receive from underwriters. You are entitled, at any time, to request information regarding any commission which We may have received as a result of placing Your insurance business. Please contact Us immediately if You wish to change the person in Your business nominated as Your Insurance Contact.