Common use of Client Money Clause in Contracts

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are received, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held 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. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • 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; • 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. • Retain for our own use, any interest earned on client money. 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 falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank account.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are receivedrecieved, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held 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. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • 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; • 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. • Retain for our own use, any interest earned on client money. 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 falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank account.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during In the course of our dealings such as premium paymentscarrying on insurance distribution activities, premium refunds and claim paymentsWe handle client money in accordance with the FCA’s Client Assets Sourcebook (CASS) rules, which are designed to protect You. This A copy of these rules is available on request. We handle client money will be held in either as agent one of the insurer or agent following ways: • It is held on Your behalf in a segregated bank account that is subject to a non-statutory trust. The aim of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are received, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you You in the event of our Our financial failure, or the failure sinceof the bank or a third party at which the money may be held. In such a circumstance, in such circumstances, our Our general creditors would (or those of the bank or third party) should not be able to make claims on client money, as such money as it will not form part of our assetsOur (or the bank’s or third party’s) property. Coversure Insurance Services Limited The fact that We will hold all client monies with one or more approved banks, as defined by money on trust gives rise to fiduciary duties which will be owed to You until the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rulesreaches the insurer, at which time Our fiduciary duties with regard to Your money will cease. Under these arrangementsBy holding client money subject to a non-statutory trust, Coversure Insurance Services Limited assume responsibility for such monies We are entitled to and are permitted to, and may: • Use such monies received on behalf may make advances of one customer credit from the trust to pay another customerenable a client’s premium, premium obligation to be met before the premium is received from that other customerremitted to Us. HoweverSimilarly, we are not entitled it allows claims and premium refunds to pay ourselves commissions before we receive the relevant premium be paid from the customer; trust to a client before receiving remittance of those monies from the insurer. • For the purpose of effecting a transaction on your behalf, pass your Risk transfer applies where money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event is held by Us as agent of a failure relevant insurer in accordance with a written agreement with that insurer. The written agreement will specify the extent to which risk transfer will apply and whether it includes all items of money or is restricted; for example, to the intermediaryreceipt of premiums. Where risk transfer applies, this money may You will be protected to the extent that any premiums We receive from You are treated as having been received by the insurer. Where the agreement extends to premium refunds and/or claims, any premium refunds or claims will be treated in as received by You only when they are actually paid to You. Segregation of bank accounts Client money is kept separate from Our own money. Client money will be deposited into a different manner from that which would apply if the money were held by client bank account with an intermediary in the UKauthorised UK clearing bank. Please inform us if you do not agree to this. • Retain for our own use, any Any interest earned on client money. Unless we receive your written instruction money that is subject to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Nona non-Statutory Trust bank accountstatutory trust will be retained by Us.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are receivedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held 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. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Non- Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • 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.; • 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. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services LimitedLimited (“CISL”). Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are received, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held 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. Coversure Insurance Services Limited CISL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited CISL assume responsibility for such monies and are permitted to, and may: • 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; • 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. • Retain for our own use, any interest earned on client money. 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 falls due to you, as being with your informed consent to the payment of those moneys into our CISL’s Non-Statutory Trust bank account.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services LimitedLimited (“CISL”). Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. .This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are received, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held 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. Coversure Insurance Services Limited CISL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Non- Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited arrangements CISL assume responsibility for such monies and are permitted to, and may: • 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; • 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. • Retain for our own use, any interest earned on client money. 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 falls due to you, as being with your informed consent to the payment of those moneys into our CISL’s Non-Statutory Trust bank account.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are receivedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held 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. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • 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.; • 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. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when we have received your cleared premium funds are receivedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held 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. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • 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; • 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. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys into our Non-a BNL Non Statutory Trust bank account. Without affecting our fiduciary duty to you BNL are entitled to transfer client monies to an identical bank account held in the name of any Affiliate for so long as such company remains an Affiliate.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are receivedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held 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. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • 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.; • 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. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account. Without affecting our fiduciary duty to you BNL are entitled to transfer client monies to an identical bank account held in the name of any Affiliate for so long as such company remains an Affiliate.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are receivedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held 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. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • 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.; • 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. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account. Insurer Security Whilst we make every effort to place your insurances with insurers that are financially sound we do not guarantee or otherwise warrant the solvency of any insurer we place your insurances with. If you have any concerns regarding any insurer chosen to meet your insurance requirements you should inform us as soon as possible and we will discuss them with you. A liability for the premium, whether in full or pro rata, may arise under policies where a participating insurer becomes insolvent. Termination of this TOBA You or we may terminate our authority to act on your behalf by providing at least 14 days’ notice in writing (or such other period we agree). Termination is without prejudice to any transactions already initiated by you, which will be completed according to this TOBA unless we agree otherwise in writing. You will remain liable to pay for any transactions or adjustments effective prior to termination and we shall be entitled to retain any and all commission and/or fees payable in relation to insurance cover placed by us prior to the date of written termination of our authority to act on your behalf.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are receivedrecieved, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held 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 assetsa ssets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • 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; • 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. • Retain for our own use, any interest earned on client money. 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 falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank account.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are receivedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held 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. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Non- Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • 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.; • 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. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account. Without affecting our fiduciary duty to you BNL are entitled to transfer client monies to an identical bank account held in the name of any Affiliate for so long as such company remains an Affiliate.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when we have received your cleared premium funds are receivedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held 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. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • 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; • 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. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys into our Non-a BNL Non Statutory Trust bank account. Without affecting our fiduciary duty to you BNL are entitled to transfer client monies to an identical bank account held in the name of any Affiliate for so long as such company remains an Affiliate.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are receivedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held 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. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • 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.; • 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. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account. Without affecting our fiduciary duty to you BNL are entitled to transfer client monies to an identical bank account held in the name of any Affiliate for so long as such company remains an Affiliate. Insurer Security Whilst we make every effort to place your insurances with insurers that are financially sound we do not guarantee or otherwise warrant the solvency of any insurer we place your insurances with. If you have any concerns regarding any insurer chosen to meet your insurance requirements you should inform us as soon as possible and we will discuss them with you. A liability for the premium, whether in full or pro rata, may arise under policies where a participating insurer becomes insolvent. Termination of This TOBA You or we may terminate our authority to act on your behalf by providing at least 14 days’ notice in writing (or such other period we agree). Termination is without prejudice to any transactions already initiated by you, which will be completed according to this TOBA unless we agree otherwise in writing. You will remain liable to pay for any transactions or adjustments effective prior to termination and we shall be entitled to retain any and all commission and/or fees payable in relation to insurance cover placed by us prior to the date of written termination of our authority to act on your behalf.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is any money that is received we receive and held on behalf of our clients during hold in the course of our dealings such arranging or administering insurance on your behalf, or which we treat as premium paymentsclient money, in accordance with the FCA Client Assets sourcebook (CASS). Such monies shall include: • premiums paid by you to us for onward payment to insurers; and • premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are received, the premium is deemed to have been claims paid to the insurerus by insurers, for onward payment to you. The FCA require that Non-Statutory Trust Account (Client Account) We provide protection for your money by holding all client monies, including yours, are held 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. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance Client Money Account (Client Account), with one or more FCA approved bank(s). This money is segregated from our own money and CASS requires us to maintain the FCA solvency of the Client Account and conduct regular reconciliations. In the unlikely event of our failure, client money rulesis available to clients ahead of other creditors. Under these arrangementsCASS, Coversure Insurance Services Limited assume responsibility money held in the Client Account may be used for such the payment of premium or claims for another client before their monies and are permitted toreceived, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customerbut increased controls are maintained where this occurs. However, we We are not entitled to use client money to pay ourselves commissions our fees or commission before we receive the relevant premium from you. In the customerevent that we elect to fund premium on your behalf, you acknowledge that any funded amount, whether arising as a result of a payment by us or a deduction by you from amounts payable to us, is to be refunded to us immediately, and that for the duration of any funding, such funded amounts are not considered to be a gift from us. We reserve the right to charge interest on any such funded items from the date the funding commenced to the date of payment. Risk transfer In some instances, we may have agreed in writing with an insurer to receive insurance monies as their agent under a risk transfer arrangement. In such cases, this means that where: • you have paid premium to us, it is deemed to have been paid and received by the insurer, even if we fail to forward it to the insurer; or • For the insurer has paid premium refunds of claims to us for onward payment to you, the insurer remains liable to you for those monies, until you have received them. In all such cases where we have entered into a risk transfer arrangement with insurers, in accordance with CASS, they have consented to their monies being co-mingled and held in our Client Account, which means those monies are also afforded the protection associated with that account. Segregation of designated investments Whilst we pay client money into a Client Account, we may arrange to invest this in a segregated designated investment, as permitted under CASS. If we do this, we will be responsible for meeting any shortfall that is attributable to falls in the market value of thatdesignated investment. Interest on client money We may earn interest on cash amounts held and may benefit from foreign exchange differentials and returns on segregated designated investments. As permitted by CASS, you agree that any such interest or investment returns shall belong to us and we shall not be required to account for it to you. Payment to third parties We may transfer client money to another person, such as another broker or settlement agent, for the purpose of effecting a transaction on your behalf. Where we act as agent of an insurer for the purposes of holding or receiving claim payments or returning premiums, pass your we will remit them to such parties as the insurer directs us to pay. We may otherwise only pay client money to another intermediary, including those resident you or your duly authorised representative if we have your specific instruction or consent. Where an intermediary or settlement agent is outside the UK who would therefore be subject to different UK, the legal and regulatory regimes. In regime applying to the intermediary or settlement agent will be different from that applicable in the UK and, in the event of a failure of the intermediaryintermediary or settlement agent, this the client money may be treated in a different manner from that which would apply differently than if the client money were was held by an intermediary a broker or settlement agent in the UK. Please inform us if Where you do not agree wish your money to this. • Retain for our own usebe passed to a particular bank, any interest earned on client money. Unless we receive your written instruction to the contraryintermediary or jurisdiction, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank accountshould tell us.

Client Money. We hold premium and claim monies (‘client money’) subject to a non‐statutory trust. This means that, in accordance with the Client Money Rules, as a short‐term credit facility We are not authorised entitled to handle and may use client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are received, the premium is deemed to have been paid to the insurer. The FCA require that all one client monies, including yours, are held 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. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customerclient’s premium, premium before the premium is received from that other customerclient, and to pay claims and premium refunds to another client before We receive payment from the insurer. However, we We are not entitled to pay ourselves use client money to take commissions before we We receive the relevant premium from the customer; • For you. We keep client money separate from Our own money and any interest earned on client money held by Us shall be retained by Us. In instructing Us to proceed with your insurance placement your consent to Us holding your premium and claim monies in a non‐statutory trust is deemed to have been given. You further agree that We may transfer client money to another party, such as another broker, introducer, agent, appointed representative or settlement agent, for the purpose of effecting a transaction on your behalf, pass your money behalf through that party. For the purpose of this Agreement We will refer to another intermediary, including those resident these other parties as ‘Third Parties’. This may include ‘Third Parties’ outside the UK. The legal and regulatory regime applying to a ‘Third Party’ agent outside the UK who would therefore may be subject to different legal and regulatory regimes. In from that of the UK and, in the event of a failure of the intermediary‘Third Party’, this money may be treated in a different manner from that which would apply if the money were held by an intermediary a ‘Third Party’ in the UK; We can accept no responsibility for any loss that may arise as a result of such different treatment. Please inform us You must notify Us in advance if you do not agree wish your money to thisbe passed to a person or jurisdiction, however this may affect Our ability to select an insurer for you. • Retain for our own use, any interest earned on client moneyWe have in place agreements with certain insurers whereby the credit risk in respect of all premium and claims payments to or from such insurers is assumed by such insurers. Unless we receive your written instruction This “risk transfer” arrangement means that premiums paid by you to Us are deemed upon receipt by Us to be paid to the contraryinsurer. However, we shall treat receipt of payment from you claims payments or return premiums paid by the insurer through Us are not be deemed paid until received by you. Under such risk transfer arrangements, premium payments held by Us are protected if We enter insolvency proceedings, and of any claim payment and/or refund of the insurers will be deemed paid if, at the time We are holding your premium, the insurer enters insolvency proceedings. With all other insurers with which We have no risk transfer arrangements, We settle premiums and claims entirely as your agent and premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank accountor claims payments are not deemed made until paid or received by Us.

Client Money. We are not authorised to handle Client money is any money that we receive and hold in the course of arranging or administering insurance on your behalf, or which we treat as client money; any payments , in accordance with the industry regulations stipulated by MAS. Insurance Broking Premiums accounts MAS requires us to establish and maintain separate accounts with a bank licensed with MAS in the respect of the carrying on of business which we are registered for. This client money is segregated from our own money. Risk transfer Where we have agreed in writing with an insurer to receive money as their agent, money received from you or which need to be refunded to youfrom the insurer, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent property of the insurer or agent of the client, determined whilst we hold it. If you pay a premium to us it will be treated as having been received by the agreement in place with each insurer. Where money is held as agent of the insurer, this which means that when your cleared premium funds are receivedyou cannot be asked to pay it again, even if we do not pay the premium is deemed to have been paid to the insurer. The FCA require that all client moniesSimilarly, including yoursonce we have received the premium, are held in a trust accountwe would be unable to return it to you, the purpose of which is to protect you for example in the event of our financial failure sincethe insurer becoming insolvent. Also, in such circumstancesif the insurer pays claims money or a return premium to us for onward transmission to you and we do not pay you, our general creditors would not then the insurer will still be able liable to make claims you. Interest on client money as We may earn interest on cash amounts held and may benefit from foreign exchange differentials and returns on segregated designated investments. These cash amounts can include premiums and claims amount due to insurers and/or clients. As permitted by MAS, any such interest or investment returns before the agreed credit period with insurers shall belong to us and we shall not be required to account for it will not form part of our assetsto you. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA Payment to third parties We may transfer client money rules. Under these arrangementsto another person, Coversure Insurance Services Limited assume responsibility such as another broker or settlement agent, for such monies and are permitted to, and may: • 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; • For the purpose of effecting a transaction on your behalf. Where we act as agent of an insurer for the purposes of holding or receiving claim payments or returning premiums, pass your we will remit them to such parties as the insurer directs us to pay. We may otherwise only pay client money to another intermediaryyou or your duly authorised representative if we have your specific instruction or consent. Where an intermediary or settlement agent is outside Singapore, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In regime applying to the intermediary or settlement agent will be different from that applicable in Singapore and, in the event of a failure of the intermediaryintermediary or settlement agent, this the client money may be treated in a different manner from that which would apply differently than if the client money were was held by an intermediary a broker or settlement agent in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. 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 falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank accountSingapore.