Bruce Burke & Company Limited – Terms of Business
819 High Road, Goodmayes, Ilford, Essex, IG3 8TD
Tel: 0800 413 322 Fax: 0208 599 1687 www.bruceburke.co.uk
Accepting our Terms of Business
By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business. We draw your particular attention to:
- The section headed ‘Use of personal data’ and specifically the paragraph explaining how ‘sensitive personal data’ will be used; and
- The section headed ‘Handling money’, which explains our terms for handling client money in a NonStatutory Trust account.
For your own benefit and protection, you should read these terms carefully. If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you, please contact us at the above address.
The Financial Conduct Authority
Bruce Burke & Company Limited is authorised and regulated by the Financial Conduct Authority (FCA).
Our Financial Services Register number is 141800. Our permitted business is introducing, advising, arranging, dealing as agent and assisting in the administration and performance of general insurance contracts. You may check this on the Financial Services Register by visiting the FCA’s website,
www.fsa.org.uk/register/ or by contacting the FCA on 0800 111 6768.
When you use our website to arrange your insurance online we source and arrange products but do not offer advice or make recommendations when arranging your insurance. However, we will ask questions to narrow down the selection of products about which we will provide details; you will then need to make your own choice about how to proceed. As an authorised and regulated insurance broker we are able to advise our customers on their insurance requirements.
In doing so, our role is to advise you when discussing your insurance requirements and make a suitable recommendation after we have assessed your needs. In any situations where we are able to arrange insurance for you but do not offer advice, we shall confirm the position to you in writing. If you require advice at any point, please call us on 0800 413322 or e-mail us at firstname.lastname@example.org.
In providing our service we may sometimes act as an agent of the insurer. We will confirm the capacity in which we will act for you before undertaking any relevant transactions on your behalf. We will not in any circumstances act as an insurer nor guarantee or warrant the solvency of any insurer.
We select motor and household products from a range of insurers.
We select commercial insurance products from a range of insurers but, for certain products, we may only deal with a single insurer or select from a limited number of insurers. You may ask us for a list of the insurers we deal with for these products.
If we propose using another intermediary to help place your business, we will confirm this to you in good time before any arrangements are finalised.
Complaints and Compensation
We aim to provide you with a high level of customer service at all times but, if you are not satisfied, in writing, write to Mr Athol Burke, Customer Service manager, at the address stated above, by phone Telephone 0800 413 322 or by e-mail email@example.com
When dealing with your complaint, we will follow our complaint handling procedures; a summary of these procedures is available on request. If you are still not satisfied, you may be entitled to refer the matter to the Financial Ombudsman Service (FOS).
Access to FOS is available for complainants coming within one of the following categories at the time we receive their complaint:
- Consumers (e.g. private individuals)
- Businesses employing fewer than 10 persons and with a turnover or annual balance sheet total not exceeding £2 million
- Charities with an annual income of under £1 million
- Trustees of a trust with a net asset value of under £1 million
We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. If you are eligible to claim from the FSCS, compensation is available as follows:
- Insurance advising and arranging is covered for 90% of the claim, without any upper limit.
- For compulsory classes of insurance (such as Third Party Motor or Employers Liability), insurance advising and arranging is covered for 100% of the claim without any upper limit.
Further information about compensation scheme arrangements is available from the FSCS on 0800 678 1100 (freefone) or 020 7741 4100 or www.fscs.org.uk.
Payment for our Services
We normally receive commission from insurers or product providers and we also charge you for handling your insurances as set out in the Scale of Charges at the end of this document. We also draw your attention to the sections headed ‘Cancellation of insurances’ and ‘Ending your relationship with us’.
You will receive a quotation which will tell you the total price to be paid, and which identifies any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded.
In good time before the conclusion of each insurance contract, or upon renewal, we will remind you of your right to be informed 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.
Our financial arrangements with most insurance companies are on a ‘Risk Transfer’ basis. This meansthat we act as agents of the insurer in collecting premiums and handling refunds due to clients. Inthese circumstances such monies are deemed to be held by the insurer(s) with which your insuranceis arranged. You will be notified if Risk Transfer does not apply and such monies will then be held byus in a Non-Statutory Trust account pending payment. The establishment of the Non-Statutory Trustaccount follows the rules which the FSA introduced to protect money held by authorised intermediaries.
However, you should be aware that, under the Non-Statutory Trust account rules, we are permitted to use such monies temporarily held to advance credit to clients generally. A copy of the Deed of Trust is available on request or may be inspected at our premises during normal office hours. If you object to your money being held in a Non-Statutory Trust account, you should advise us immediately. Otherwise, your agreement to pay the premium together with your acceptance of these Terms of Business will constitute your informed consent to our holding your money in a Non-Statutory Trust account. Interest earned on monies held in such a Non-Statutory Trust account will be retained by us.
Cancellation of Insurances
You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance must be returned to us or to the insurer concerned. In the event of cancellation, charges for our services will apply in accordance with Scale of Charges set out at the end of this document. The terms of your policy may allow insurers to retain the premium in full or to charge short-period premiums in the event of cancellation before the policy expires.
Ending your Relationship with Us
Subject to your immediate settlement of any outstanding premiums and fees, you may instruct us to stop acting for you and we will not impose a penalty. Your instructions must be given in writing and will take effect from the date of receipt. In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days notice. Unless otherwise agreed in writing, if our relationship ends, any transactions previously initiated will be completed according to these Terms of Business. You will be liable to pay for any transactions concluded prior to the end of our relationship and we will be entitled to retain commission received for conducting these transactions, together with all fees charged by us for services provided.
You are responsible for answering any questions in relation to any proposal for insurance cover honestly and to the best of your knowledge, providing complete and accurate information which insurers will require. This also applies to your responses in relation to any assumptions you may agree to in the process of applying for insurance cover. This is particularly important before taking out a policy but also at renewal or of if you make a mid term amendment to your policy. If you are a commercial customer, please be reminded you are responsible for providing complete and accurate information which Insurers require at inception, renewal and throughout the life of a policy. If you fail to disclose information, or misrepresent any fact which may influence the insurer’s decision to accept the risk or the terms offered, this could invalidate the policy and mean that claims may not be paid. You must check all details on any proposal form or Statement of Facts and pay particular attention to any declaration you may be asked to. It is important that you read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply. Particular attention must be paid to any warranties and conditions as failure to comply with them could invalidate your policy.
You must inform us immediately of any changes in circumstances which may affect the services provided by us or the cover provided by your policy. If you are unsure about any matter, please contact
Use of Personal Data
We will process any personal information we obtain in the course of providing our services to you in accordance with the Data Protection Act 1998. In administering your insurances it will be necessary for us to pass such information to insurers and other product or service providers which may also provide us with business and compliance support. We may also disclose details to relevant parties, as necessary, to comply with regulatory or legal requirements, and we may contact you in order to promote products or services that may be of interest to you.
Some of the details you may be asked to give us, such as information about offences or medical conditions, are defined by the Act as sensitive personal data. By giving us such information, you signify your consent to its being processed by us in arranging and administering your insurances.
Subject to certain exceptions, you will be entitled to have access to your personal and sensitive personal data for which you will be charged a fee of £10. If at any time you wish us to cease processing any of the personal data or sensitive personal data we hold, or to cease contacting you about products and services, please write to The Customer Services Manager at the address quoted above.
To make sure you get our best deal, to ascertain the most appropriate payment options for you and to help prevent fraud, some insurers use public and personal data from a variety of sources, including credit reference agencies and other organisations.
The search will appear on your credit report whether or not your application proceeds. If you have any questions about this or any other matter, please do not hesitate to contact us.
Conflict of interests
Occasions can arise where we, or one of our clients or product providers, may have a potential conflict of interest with business being transacted for you. If this happens, and we become aware that a potential conflict exists, we will write to you and obtain your consent before we carry out your instructions and we will detail the steps we will take to ensure fair treatment.
Claims handling arrangements
You should take note of the required procedures in the event of a claim, which will be explained in the policy documentation. Generally, insurers require immediate notification of a claim or circumstances which might lead to a claim. We will employ due care and skill if we act on your behalf.
Law and Jurisdiction
This agreement shall be governed by and construed in accordance with laws of England. Each party agrees that any legal action or proceedings with respect to this agreement may be brought in the courts of England, and submits to jurisdiction of these courts.
Scale of Charges
In addition to premiums, the following scale of charges will apply.
New Business Fee £20.00
Larger Commercial Risks Minimum 5% of the premium – maximum 20%
(we will confirm the fee to you before your insurance arrangements are concluded)
Liability Policies £20.00
Mid Term Adjustments £20.00
Renewal Fee £10.00
Lost Certificate Replacement £20.00
Referred Cheques £20.00
Referred Direct Debit Payments £20.00
Instalments overdue more than 7 days £10.00
Mid Term Cancellations Deduction of the intermediary commission from the Minimum retained premium 50% following cancellation due to non-return ofWhere policies are sold at nil or minimal commission a charge will be applied and will be included in our quotation. This will be discussed prior to the conclusion of the contract.
Where your policy is described as being on a “Minimum and Deposit basis” your insurer will not allow any refund and you are responsible for the entire premium. If instalments have been allowed you will need to carry on paying them until the account is settled, otherwise action can be taken to recover.
The instalments available for Motor and Household only
3 payments & premium under £150 £30.00 fee
3 payments & premium over £150 8% of premium or £30 fee whichever is greater
4 payments & premium under £150 £40 fee
4 payments & premium over £150 9% of premium or £40 fee whichever is greater
Direct Debit Charges:
Interest and number of instalments vary according to insurer
In some instances we may offer the use of a finance house if they are more competitive than the insurer and in these circumstances we can add up to 4% commission.
Bruce Burke & Company Limited, registered in England under Company Number 1494895
Registered Office: As stated above