Untitled Document

Terms of Business

Sharpley & Regent Insurance Services Ltd.

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<h1>IMPORTANT NOTICE TO CLIENTS 
SHARPLEY AND REGENT INSURANCE SERVICES LTD</h1>
 
TERMS OF BUSINESS
 
The Financial Services (FSA) is the independent watchdog that regulates financial services. It requires us

to give you this document. Use this information to decide if our services are right for you.

<ol>
<li>Definitions and Firms Identity - We/us means Sharpley and Regent Insurance Services

Ltd of 38 Alexandra Road, Lowestoft Suffolk NR32 1PW Tel; No. 01502532600. Email info@srins.co.uk</li>
<li>Whose Products do we offer – We offer products on the basis of a fair analysis of the

market and if you ask us, we can provide you with a list of the insurance companies we use.</li> 
<li>Our Service - In offering insurance for our Customers we act as an independent

intermediary.  Our service includes advising you on your insurance needs, arranging your insurance cover with

insurance to meet your requirements and helping you with any ongoing changes you have to make.  We can

also assist you with making a claim. Please note that our Uninsured Loss Recovery Scheme is not an insurance

product and is not covered by the Financial Services Authority (FSA) Regulations.  We will give you full details

of any such arrangements before you make any commitment of any product we offer you.</li>
<li>Disclosure - It is your responsibility to provide complete and accurate information to

insurers when you take out your insurance policy, throughout the life of your policy and when you renew your

insurance.  Failure to disclose information pertaining to your insurance or any inaccuracies in information given

could result in your insurance policy being invalid or cover not operating fully. It is important that you ensure all

statements you make on proposal forms claim forms and other documents are full and accurate.  If a form is

completed on your behalf you should check that the answers shown to any questions are true and accurate

before signing the document. You are reminded that it is an offence under the road Traffic Act to make any

false statements or withhold any relevant information to obtain a Certificate of Motor Insurance. Please note

that under the rehabilitation of Offenders Act 1974 you are not required to disclose convictions regarded as

‘spent’. We may retain certain documents including your policy and certificate of insurance while we are waiting

for full payment of premiums or administration charges or if you wish us to hold them for you .In these

circumstances we will ensure that you receive full details of your insurance cover and will provide you with any

documents, which you are required to have by law.</li>
<li>Data Protection Act – We are registered under the data protection act and we undertake

to comply with their rules ensuring all personal information about you will be treated as private and confidential

and kept securely. When requested, you have the right to see personal information about you that we hold in

our records.</li>
<li>Motor and Home Insurance anti-fraud registers - Insurers share information with each

other via the claims and underwriting exchange register and the motor insurance anti-fraud and Theft register

to aid the prevention of fraudulent claims. In the event of a claim, the information you supply on the claim

form, together with any other information relating to the claim will be put on the registers.</li>
<li>Motor Insurer Information Centre - (MIIC) Insurers are legally required to provide details

of motor insurance policies to the MIIC.  The information describing your insurance cover will be added to the

Motor Insurance Database (MID), to which the Police and other government agencies have access.  This helps

the pursuance of claims following accidents and aids detection of those who are in contravention of the law by

not taking out insurance.</li>
<li>Claims - If you have occasion to claim on your policy you must notify us immediately and

we will promptly advise you and if appropriate, issue you with a claim form and pass all details to your insurer.

You should not admit liability nor agree to any course of action, other than emergency measures carried out to

minimize loss until you have agreement from your insurer.  If there is any conflict of interest, we shall only

handle a claim on your behalf after we have discharged to you all the information you require, to enable you to

decide whether to give your informed consent and you have given that consent.</li>
<li>What will you have to pay for our services - You will receive a quotation, which will tell

you about any fees relating to any particular insurance policy.  We reserve the right to make charges in

addition to any insurance premiums, for the arranging, amending, reviewing and cancellation of any policy of

insurance. These charges, a scale of which is available on request, will be advised to you before you purchase

the insurance and as they are incurred.</li>
<li>Complaints - It is always our intention to provide a first class service. However, should

you have any cause for complaint you should in the first instance contact us orally or in writing. Your complaint

will be acknowledged within five business days advising you who is dealing with the matter and indicating when

you may expect an answer.  We will provide a full written response within 20 business days from receipt of the

original complaint.  If the complaint cannot be resolved within the timescale we will write with an explanation as

to the progress and the likely timescale involved.  You will be advised of any further redress available to you,

should you believe the matter has not been resolved to your satisfaction.  If you cannot settle your complaint

with us you may be entitled to refer it to the Financial Ombudsman Service.</li>
<li>Cancellation – Only retail customers have a right to cancel, thereby withdrawing from the

contract , without giving any reason, by serving notice to the insurer or us , subject to no claims or losses . A

retail customer is defined as a policyholder or potential policyholder acting outside their trade, professions or

business. Where the right to cancel is notified in writing and documents have been returned, the relevant

insurer and we will assume and treat it as being served on the date it was despatched by the customer .Your

insurance policy may contain a right to cancel within a specified period of time of taking up the policy .You will

be informed upon inception or renewal of your contract what cancellation rights apply to your policy. If so how

and when you should exercise any rights .We reserve the right to cancel a customer’s policy and giving 7 days

notice in inviting to their known address and retain a proportion of the premium relating to our fees and

brokerage. Should a customer wish to terminate the contract, we will require written notification, signed by all

policyholders, together with the return of any relevant documentation i.e. motor insurance certificates or

employers liability certificates.</li> 
<li>Premiums and client Money - In order to be able to offer you credit facilities, we are

registered under the consumer credit act and our licence number is 009538.We normally accept payment by

cash, guaranteed cheque and most major credit cards. You may be able to spread payments through insurer’s

instalments schemes, a credit scheme with the third party finance provider, or a facility we have arranged

ourselves, we may keep certain documents, such as your insurance policy documents or certificate while we

are waiting for full payment of premiums. In these circumstances we will ensure that you receive full details of

your insurance cover and provide you with any documents, which you are required to have by law.
Client money. Client money is money we receive and hold in the course of carrying on insurance mediation on

behalf of our clients. It will be held on the behalf of an insurer or underwriter in accordance with a written

agency agreement. Monies are in a non statutory bank account in accordance with a trust deed, a copy of

which would be sent to you on request. We keep client money separate from our own money and any interest

earned on client money held by as will be retained by us for you’re our own use, rather than paid to you. 
Risk Transfer - Premiums that we collect from you are held in an insurance broking bank account specifically

used for the purpose of holding clients premiums & from which refunds of premiums are also made. By virtue of

agreements we hold with insurers, we collect premiums as agent of the insurer.  Therefore once we have

collected premiums from you, under the terms of our agreements with insurers, those premiums are treated as

having been paid to the insurer. We will remit the premiums to insurers, after deduction of our commission, in

accordance with the terms of our agreement with insurers. Even where we do not hold arrangements for risk

transfer, your premium will be paid into a pooled Client Monies Account. Monies are held in a non-statutory

trust bank account in accordance with a trust deed, a copy of which would be sent to you on request. The

trust deed has been written in accordance with the FSA handbook CASS 5.4 and your acceptance of our terms

of business assumes acceptance of the trust deed. Any interest earned on the Client Monies bank account is

kept by the firm.</li>
<li>Return Premiums - Return premiums usually arise if an insurance risk is reduced or a policy

cancelled.  On a return premium we repay commission on the amount to your insurer and this will be deducted

from the final amount due to you.  In view of the cost involved, we will not issue any return premium that is

less than £10 (after deducting reclaimed commission). An amount less than £20 will be held to your credit and

can be utilised against any future insurance policy with us.  If a policy is cancelled, we will refund any return

premium due (after deduction of the commission and our charge).</li>
<li>Quotations - All quotations are subject to change in respect of the amount of premium

indicated, and for the terms and conditions that are applied.</li>
<li>Policy Terms, Conditions and Warranties - You should read through all policy terms,

conditions and warranties shown on your policy documentation, please ensure you understand them and are

able to follow their requirements exactly.  If not, please advise us immediately, as a breach of any terms,

conditions or warranties may enable your insurer to terminate your policy from the date of that breach , and/or

repudiate a claim under your policy.</li>
<li>Renewal Premiums paid by instalments - In good time before the renewal of your policy,

we shall contact you with the renewal premium and terms for the coming year.  If you have not contacted us

before the renewal date, we shall renew the policy automatically on your behalf.  If you do not wish to renew

the policy, please let us know as soon as possible.  We should also advise you to cancel your direct debiting

instruction with your bank prior to renewal date.  If it is your intention to renew the policy, no action is required

by you, and the policy will renew automatically. We shall send your new certificate of insurance to you.</li>
<li>Disclosure of Commission - If you would like to know the amount of commission that we

are paid in respect of your insurance contract, this information is available on request, and would be supplied in

a durable medium.  We would also disclose any commission amounts that have been paid to any associates of

the Company. The disclosure will be made in cash terms.</li>
<li>Customer Money passed to another person - In accordance with FSA Regulations we

have to inform you that in managing and/or arranging your insurance requirements, we may transfer money that

you have paid us, in payment of an insurance premium, to another insurance intermediary.  By accepting these

terms of business, you are giving your consent for us to act in the manner described in this section.</li>
<li>Governing Laws - This agreement shall be governed by the Law of England and Wales

and the parties agree herewith that any dispute arising out of it shall be subject to the exclusive jurisdiction of

the English Courts.</li>
<li>Other Taxes or Costs –other taxes or costs, may exist in relation to the products and

services offered by us which are not paid through not imposed, by us.</li>
<li>Collection of Arrears of Premiums - The Company reserves the right to collect

outstanding premiums, where a default of a credit agreement has occurred, through the credit card from which

the client has paid their deposit, immediately any default has been notified.</li>
<li>Commission withdrawal - We receive commission from the premiums that you pay us. We

shall only withdraw commission after we have received the premium from you, and in accordance with FSA

regulations and agreements that we hold with insurers.</li>

</ol>

TOB 11/2005

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