Common use of Client and insurer money Clause in Contracts

Client and insurer money. 16.1. The FCA requires us to hold all client monies, including yours, in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances; our general creditors would not be able to make claims on client money as it will not form part of our assets. 16.2. We hold all client monies in a Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, we assume responsibility for such monies and are permitted to, and may: 16.2.1.1. For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. 16.2.1.2. Retain for our own use, any interest earned on client money. 16.3. Your money will be held either as agent of the insurer or agent of the client, depending on which insurer(s) your insurance has been placed with. Where money is held as agent of the insurer, this means that when we have received your cleared premium, it is deemed to have been paid to the insurer. 16.4. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which fall due to you, as being with your informed consent to the payment of those moneys into our Statutory Trust bank account.

Client and insurer money. 16.115.1. The FCA requires us to hold all client monies, including yours, in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances; our general creditors would not be able to make claims on client money as it will not form part of our assets. 16.215.2. We hold all client monies in a Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, we assume responsibility for such monies and are permitted to, and may: 16.2.1.115.2.1. For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. 16.2.1.215.2.2. Retain for our own use, any interest earned on client money. 16.315.3. Your money will be held either as agent of the insurer or agent of the client, depending on which insurer(s) your insurance has been placed with. Where money is held as agent of the insurer, this means that when we have received your cleared premium, it is deemed to have been paid to the insurer. 16.415.4. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which fall due to you, as being with your informed consent to the payment of those moneys into our Statutory Trust bank account.

Client and insurer money. 16.112.1. The FCA requires us firm named in the heading is not authorised by the Financial Conduct Authority to hold all handle client monies, including yours, in money. All client money is held as agent of the insurer under a trust account, Risk Transfer Agreement with your insurer; the purpose of which is to protect you in the event of our financial failure since, in such circumstances; our , general creditors would not be able to make claims on client money as money received is treated as if it will not form part of our assetshad been received by the insurer. 16.212.2. We hold all client monies money in a Statutory Trust bank account in accordance with account. The firm intends to act as agent for insurance undertakings and, as such, any money received by the FCA client Firm as agent for insurance undertakings will be held on trust for the insurer separate from the firm’s money. Risk-transferred money rulesmay include any premiums including additional and return premiums, claims money, refunds and professional fees. Under these arrangements, the terms of operating as agent for insurance undertakings we assume responsibility for such monies and are permitted to, and maycan: 16.2.1.112.2.1. For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. 16.2.1.212.2.2. Retain for our own use, any interest earned on client money. 16.312.3. Your money will be held either as agent of the insurer or agent of the client, depending on which insurer(s) your insurance has been placed with. Where money is held as agent of the insurer, this . This means that when we have received your cleared premium, it is deemed to have been paid to the insurer. 16.412.4. Unless we receive your written instruction to the contrary, we shall will treat receipt of payment from you and of any claim payment and/or refund of premium which fall due to you, as being with your informed consent to the payment of those moneys monies into our Statutory the Trust bank account.

Client and insurer money. 16.115.1. The FCA requires us to hold all client monies, including yours, in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances; our general creditors would not be able to make claims on client money as it will not form part of our assets. 16.215.2. We hold all client monies in a Non Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, we assume responsibility for such monies and are permitted to, and may: 16.2.1.115.2.1. Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; 15.2.2. For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. 16.2.1.215.2.3. Retain for our own use, any interest earned on client money. 16.315.3. Your money will be held either as agent of the insurer or agent of the client, depending on which insurer(s) your insurance has been placed with. Where money is held as agent of the insurer, this means that when we have received your cleared premium, it is deemed to have been paid to the insurer. 16.415.4. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which fall due to you, as being with your informed consent to the payment of those moneys into our Non Statutory Trust bank account.