Common use of Remuneration and fees Clause in Contracts

Remuneration and fees. In most cases we are paid a commission from the insurer, however in some cases we may charge you a fee instead, or a combination of both. If we charge a fee instead of commission or a fee and commission, we will confirm this to you in writing at the time of incepting or renewing your policy. Where we charge you a fee this is not liable for insurance premium tax or value added tax (insurance is a VAT exempt industry). There may be occasions when we need to charge an additional fee, for example any changes to the risk that require significant further advice, arrangement of additional cover or substantial assistance provided in any large or complex claims. We will provide you with information on the nature and amount of the fees we charge before placing, or renewing, your policy, and will also on request provide details of the commission we earn for that placement or renewal. We may also charge you an administration fee for making a change to, or for cancelling, your insurance policy. The amount of such fee will be confirmed in writing to you prior to the change to your policy being made or cancellation of your policy. Where the amount of the refunded premium is less than £10 (per policy) we will retain such amount, but where a mid-term adjustment or cancellation charge is made, we will set it off against such charge. This paragraph does not otherwise affect any cancellation/refund rights which you may have. In addition to your fee and/or insurer commission some insurers may make additional payments to us reflecting the size and/or profitability of our account with them and/or in respect of work we undertake on their behalf. You are entitled, at any time, to request information regarding any commission which we may have received when placing your insurance business.

Remuneration and fees. In most cases we are paid a commission from the insurer, however in some cases we may charge you a fee instead, or a combination of both. If we charge a fee instead of commission or a fee and commission, we will confirm this to you in writing at the time of incepting or renewing your policy. Where we charge you a fee this is not liable for insurance premium tax or value added tax (insurance is a VAT exempt industry). There may be occasions when we need to charge an additional fee, for example any changes to the risk that require significant further advice, arrangement of additional cover or substantial assistance provided in any large or complex claims. We will provide you with information on the nature and amount of the fees we charge before placing, or renewing, your policy, and will also on request provide details of the commission we earn for that placement or renewal. We may also charge you an administration fee for making a change to, or for cancelling, your insurance policy. The amount of such fee will be confirmed in writing to you prior to the change to your policy being made or cancellation of your policy. Where the amount of the refunded premium is less than £10 (per policy) we will retain such amount, but where a mid-term adjustment or cancellation charge is made, we will set it off against such charge. This paragraph does not otherwise affect any cancellation/refund rights which you may have. In addition to your fee and/or insurer commission some insurers may make additional payments to us reflecting the size and/or profitability of our account with them and/or in respect of work we undertake on their behalf. You are entitled, at any time, to request information regarding any commission which we may have received when placing your insurance business. Duty to Disclose Accurate and Full Information It is your responsibility to take reasonable care and, when asked, to answer all questions fully and accurately to insurers and us prior to and when you purchase an insurance policy, throughout the life of the policy and when you renew that policy. Failure on your part to immediately disclose accurate information when asked or provide misleading information could result in your insurer imposing different terms on the policy, charging a higher premium, or in some circumstances may avoid the policy from inception and any claims would not be paid. All statements and material facts disclosed on proposal forms, statements of fact, claims forms and other documents should be full, true and accurate. Material facts are those that would influence an insurer in deciding whether or not to accept a risk and the terms and conditions that would apply. Where forms are completed or partially completed on your behalf, you should check them for accuracy before signing. If you are in any doubt as to whether a fact is relevant, you should disclose it and then ask for guidance.

Remuneration and fees. In most cases we are paid a by commission from the insurer, however but in some cases circumstances, we may charge you a fee instead, or a combination of both. If we charge a fee instead of commission or a fee and commissioncombination of both, we in which case this will confirm this be confirmed to you in writing at the time of incepting or renewing your policy. Where we charge you a fee fee, this is will not be liable for insurance premium tax or value added tax (insurance is a VAT exempt industry). There may be occasions when we need to charge an additional feefee is sought, for example any changes to the risk that require significant further advice, arrangement advice and placement of additional cover coverage or substantial assistance provided involvement in any large large, difficult or complex claims. We will provide you with information on the nature and amount of the fees we charge before placing, or renewing, your policy, and will also on request provide details of the commission we earn for that placement or renewal. We may also charge you an administration fee for making a change to, or for cancelling, your insurance policy. The amount of such fee will be confirmed in writing to you prior to the change to your policy being made or cancellation of your policy. Where the amount of the refunded premium is less than £10 (per policy) we will retain such amount, but where a mid-term adjustment or cancellation charge is made, we will set it off against such charge. This paragraph does not otherwise affect any cancellation/refund rights which you may have. In addition to your fee and/or insurer commission some insurers may make additional payments to us reflecting the size and/or profitability of our account with them and/or in respect of work we undertake on their behalf. You are entitled, at any time, to request information regarding any commission which we may have received when as a result of placing your insurance business.

Remuneration and fees. In most cases we are paid a commission from the insurer, however in some cases we may charge you a fee instead, or a combination of both. If we charge a fee instead of commission or a fee and commission, we will confirm this to you in writing at the time of incepting or renewing your policy. Where we charge you a fee this is not liable for insurance premium tax or value added tax (insurance is a VAT exempt industry). There may be occasions when we need to charge an additional fee, for example any changes to the risk that require significant further advice, arrangement of additional cover or substantial assistance provided in any large or complex claims. We will provide you with information on the nature and amount of the fees we charge before placing, or renewing, your policy, and will also on request provide details of the commission we earn for that placement or renewal. We may also charge you an administration fee for making a change to, or for cancelling, your insurance policy. The amount of such fee will be confirmed in writing to you prior to the change to your policy being made or cancellation of your policy. Where the amount of the refunded premium is less than £10 (per policy) we will retain such amount, but where a mid-term adjustment or cancellation charge is made, we will set it off against such charge. This paragraph does not otherwise affect any cancellation/refund rights which you may have. In addition to your fee and/or insurer commission some insurers may make additional payments to us reflecting the size and/or profitability of our account with them and/or in respect of work we undertake on their behalf. You are entitled, at any time, to request information regarding any commission which we may have received when placing your insurance business. Duty of Fair Representation You must be sure that the information you have given to us to pass on to the insurers is a "fair presentation" of the risk. This means that you must have clearly disclosed every material circumstance which you, your senior management, or persons responsible for arranging your insurance knows or ought to know following a reasonable search. A material circumstance is one which may influence an insurers’ judgement over whether to take the risk, and if so on what terms. If you are in doubt as to whether a circumstance is material then you should disclose it. Furthermore, you must inform us if any of the information provided to us has changed. If it has, then you must tell us about the changes before we arrange cover. Your duty to notify material changes in the risk applies when you purchase an insurance policy, throughout the life of the policy and when you renew that policy. Please note that failure to disclose a material circumstance may entitle an insurer to impose different terms on your cover or reduce the amount of a claim payable. In some cases your cover could be invalidated, which would mean that a claim would not be paid. Quotations Unless otherwise agreed any quotation given will normally remain valid for a period of 30 days from the date it is provided to you. We reserve the right to withdraw or amend a quotation in certain circumstances, for example, where the insurer has altered their premium / terms for the insurance since the quotation was given, where there has been a change in the original risk information / material circumstances disclosed or if a claim / incident has occurred since the terms were offered.