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Terms of business

Introduction

We seek to achieve the highest professional standards and therefore operate in accordance with the following Terms of Business.

Definitions

  • "We/us/our" means Trafalgar Risk Management of The Lloyd’s Building, 12 Leadenhall Street, London, EC3V 1LP. Telephone – 0333 800 0000; Facsimile – 0333 800 0001; Email – info@trafalgarinsurance.co.uk
  • "Client", means the person(s) or company purchasing the Policy through Trafalgar Risk Management, including where appropriate anyone who is a party named under the Policy as someone who is indemnified as Insured under the Policy.
  • "Policy" means any insurance policy purchased by the Client using the services of Trafalgar Risk Management.
  • "Underwriter" means any Underwriter selected by us as capable of providing the necessary cover. This may be an Insurance company or a Lloyds Syndicate or any other entity who can underwrite an Insurance contract. This term also includes any Underwriting Agent of such entity where We have been asked to deal with the Underwriting Agent rather than the Underwriter.
  • "Quotation" means the premium required by Underwriters to cover the risk being proposed, as detailed in either the online Application form, or a hard copy Proposal form. Quotations will also include IPT and or any administration of handling fee and they will indicate such inclusions. They will also include or the application process will include access to policy wordings and cover details.
  • “You/Your” means the person(s) or company or business who uses Our web site and Our services even if they do not ultimately purchase a policy though Us. You/Your also includes future potential Clients and Clients.
  • Regulator refers currently to our regulator which is the Financial Conduct Authority or any subsequent regulator with appropriate jurisdiction.

Terms

1.The service

1.1 Trafalgar Risk Management Limited acts as an Insurance Intermediary and We arrange insurance with Underwriters for Clients.
1.2 We only arrange certain types of insurance and We only arrange those classes of insurance with certain Underwriters. The range We deal with can be seen on Our web site.
1.3 We will provide insurance mediation assistance to those Clients with any subsequent alteration to their Policy where We have arranged that Policy for them.
1.4 We offer an online service only. Any service We agree to offer that is not on-line, will only be offered at Our discretion.
1.5 For each online placement We only deal with one insurer for each type of insurance. Type of insurance refers to the cover type combined with the target business/profession that type of Policy is aimed at.
1.6 We do not in any circumstance guarantee or otherwise warrant the solvency of any Underwriter.
1.7 We do not act as Underwriter. We do hold binding authorities for some Insurers. Where We do, We have to apply underwriting guidelines and when those guidelines are met then some Underwriters will allow Us to bind the risks on the Underwriters behalf and issue documents and collect premiums on their behalf. We are not in a position to decide or set any Underwriting guidelines or to make any decision outside of a specified guideline. If You want to know which Underwriters We act for as agent and in what capacity then please ask.
1.8 We will provide quick (desk top) quotations. These are based on our knowledge of the Underwriters normal terms for a standard risk. These quick quotations are non-binding. They allow You to see the level of premium You may expect to pay. Once applications have been completed and if We and/or the Underwriter are able to provide a firm quote then You will be advised on line of that firm figure.
1.9 We provide policy summaries and policy wordings for you to review before considering purchase. We always encourage You to read these documents. We also provide a key facts document about our services which You should read.
1.10 Where allowed or where it is appropriate We will provide some insurance mediation assistance in respect of claims where that claim is on a Policy where We remain the insurance intermediary and where that Policy is still current. Some Underwriters require You to advise claims direct. Our offer of assistance is ‘assistance’ and You will continue to retain the obligation and responsibility for advising, notify, providing details and co-operating with the Underwriter (and whoever they nominate) on any claim. Please note that most Policies will specify that claims and or circumstances must be advised within a certain period of time.
1.11 We provide an on-line service and Policy documentation and schedules are provided on-line in electronic format.
1.12 We will remind You about renewal either with the same Underwriter or an alternative Underwriter is one is available. We use e-mail notifications and sometimes e-mails can go astray or end up identified as ‘junk e-mail’. For Your own protection You should keep records of Your own renewal date. Our service is provided as a helpful reminder and not as a legal obligation.

2.Policy Purchase

2.1 Prior to purchasing a Policy, We will supply You with a quotation based on information provided by You on the relevant Application or Proposal form. You should read the Quotation, application questions and answers, Policy wording and any statement of fact, declaration or confirmation that You have given during the placement process. You should read these carefully as they will be the basis for the Policy and Trafalgar Risk Management will not be liable for any Client error, omission or misstatement.
2.2

Quotations are valid for thirty (30) days only, unless expressly extended by Trafalgar Risk Management and or the Underwriter depending on who has authority to make such extensions.

2.3 Each Policy is based on ‘utmost good faith’, therefore as a Client or potential Client You must advise the Underwriter of any material fact that may influence them in accepting, rejecting, imposing special terms or renewing the Policy any time prior to commencement of cover and at renewal, and whilst the Policy continues. You as the Client must ensure that information, statements or answers You provide on the Application or Proposal form are accurate and failure to disclose pertinent information, or provide misleading or false statements may lead in the Policy being invalid.
2.4 Please remember that if You are providing information on behalf of anyone else then 2.3 still applies. You must also make certain that You obtain the other persons permission to provide Us with such data and any authorisations required for Us to seek quotations and or arrange cover plus for any Underwriter to service and administer the Policy and handle claims.
2.5 Notwithstanding clause 2.3 Trafalgar Risk Management shall be entitled at any time to reject an order for a Policy even if such order is in compliance with the Quotation or otherwise.
2.6 Cover under a Policy will be effective from the date Trafalgar Risk Management confirms to the Client that the cover is effective.
2.7 Please note that You are offering to purchase the insurance from the Underwriter, at the terms quoted, and the Underwriter is accepting (if they do accept) such an offer, at which point the cover is normally bound. It is therefore important that You understand and are committed to making such an offer. We want You as a Client to be happy with the Policy You purchased. The purchase decision is yours.

3.Premium

3.1 Unless otherwise agreed between the Client and Trafalgar Risk Management the total amount payable for the Policy shall be the Premium provided by Trafalgar Risk Management in the Quotation. The Premium quoted to the Client will include all fees and/or commission payable (for the Policy as offered including any administration fee), as well as the Insurance Premium Tax. We will show how the total price is made up. Any mid-term adjustment to Your need for cover might incur an additional premium. If You cancel Your Policy and if there is any Return Premium then We reserve the right to retain any return premium which is less than £15 for Our benefit. Please also read section 4 below.

4.Payment of Premiums

4.1 The Premium shall be payable within fourteen days (14) from the inception date of the Policy.
4.2 Payment shall be deemed as not being received by Us until Trafalgar Risk Management receives cleared funds.
4.3 Trafalgar Risk Management reserves the right to retain and not to release certificates and other Policy documentation until the cleared funds are received into the appropriate Trafalgar Risk Management bank account.
4.4 You agree that should the Premium not be paid to Trafalgar Risk Management within the fourteen (14) day payment period, the Policy shall be deemed cancelled ab initio (from inception), unless a premium payment extension period has been expressly agreed between Trafalgar Risk Management and the Client. In the event of no extension being agreed, any losses/claims or circumstances which may have occur within the fourteen (14) day premium payment period will not be covered by Underwriters.
4.5 In the event of the Policy being cancelled mid-term, Trafalgar Risk Management will refund the unexpired portion of the Premium provided that the Policy allows for a return premium in those circumstances and that the Underwriter has refunded Us in cleared funds that return premium. Please note that where return premiums are allowed they are often calculated at Underwriters short rate terms. Fees and/or commissions are not refundable. If You wish to know the level of commission then please ask.
4.6 If paying by credit card, the debit will appear on your credit card statement as "WWW.TRAFALGAR.UK.COM".
4.7 Where We act on behalf of an Underwriter that Underwriter will normal allow Us to receive premium payment on their behalf. If You want to know when that occurs then please ask.
4.8 Underwriters usually ask us to make payment of premiums to them in bulk where a single payment may represent premiums received by Us within a set period of time. A normal period would be ‘monthly’. Your agreement to Our terms of business include that You agree that We may retain any interest received on such premium held in this way for Our sole benefit.

5.Claims

5.1 In the event that You as a Client are made aware of a claim or made aware of a circumstance that may give rise to a claim in the future, then as a Client You must advise the Underwriter at Your earliest opportunity. Failure to do so may prejudice the Underwriter and as a result, the Underwriter may refuse to meet any losses under the Policy. You can ask Us to act as insurance intermediary between You and the Underwriter so that You can pass that notification through Trafalgar Risk Management. Please note that You still retain the responsibility and obligations to make certain that such notification is made as required under the Policy. This applies to notifications only although at Our discretion We may agree to provide insurance intermediary assistance at other times during the claim.
5.2 In the event of a claim, or circumstance that may give rise to a claim in the future, the Policy will normally require that You or any other person who is insured or who may seek indemnity under the Policy does not and shall not admit liability nor agree to any course of action that might imply acceptance of liability without the express agreement and consent of the Underwriter. The Policy will normally require that if any defence/legal costs are to be incurred then they must be agreed first by the Underwriter if they are to form part of any claim under the Policy.
5.3 In the event of a claim, or circumstance that may give rise to a claim in the future, the Underwriter may, at its discretion, take over the handling of the claim and appoint any professionals it deems suitable to reduce the cost of a claim.

6.Professional Indemnity

6.1 Trafalgar Risk Management Limited is authorised and regulated by the Financial Conduct Authority for its insurance mediation services.
6.2 You agree that Trafalgar Risk Management shall not be liable to the Client for any indirect or consequential losses or damage, costs, expenses or other claims for consequential compensation whatsoever, which arise out of or in conjunction with the Policy provided to the Client to the fullest extent that the law allows Us to exclude such liabilities. There may be some areas where the law would not allow such a restriction and it is not intended that this clause should breach those laws. We do however believe that as a business You are in the best position to protect Your business from the damages mentioned in this paragraph and that You agree that You will make every effort to do so.
6.3 You agree that Trafalgar Risk Management shall not be liable to the Client for any short comings or liabilities which should fall or would normally fall on the Underwriter or arise directly out of the Policy between Client and Underwriter. This exclusion of liability applies to the fullest amount allowed by law.
6.4 You agree that Trafalgar Risk Management shall accept no liability to You which may arise out of Our web site being unavailable for ANY period of time, for any internet failure, virus or malignant code, for any email delivery or receipt failure, for delay caused by negligence error or actions of others for whom We are not directly vicariously responsible even if these items impact on the service We provide. This exclusion of liability applies to the fullest amount allowed by law.

7.Policy Assignment

7.1 The Client cannot assign or transfer the Policy to another party without the prior written consent of the Underwriter.

8.Complaints

8.1 Normal communications between the parties will either be by e-mail or We will provide You with a log on account where You can obtain copies of Your Policy. The application and quote process will be on-line. Premium payment by card is on-line although a choice of paying by check is usually allowed.
8.2 Where We provide You with a log on account then Your security of Your password is Your responsibility.
8.3 Where You provide Us with an e-mail address then it is Your responsibility to advise Us of changes to that e-mail address and for You to maintain security of that e-mail address.
8.4

All communications between Trafalgar Risk Management and the Client must be in writing (which for the purposes of these Terms of Business includes email) or be delivered by hand or sent by first class post or sent by facsimile or electronic transmission:-


Hard copy communications in writing shall be to:-

(i) to Trafalgar Risk Management; to its registered office


(ii) to the Client; to its registered office or any other address the Client has set out in the Proposal or Application form, which forms part of this Policy, or any other address notified by the Client to Trafalgar Risk Management.

Soft copy electronic communications shall be to an electronic address which has been used or given as an address that can be used for communications purposes or where You are using our web site then Our web site. If You no longer wish us to use a certain address You must advise Us.

8.5 We do not accept verbal instructions for the protection of both parties.
8.6 If You allow someone to communicate with Us in Your name We shall assume that they have Your authority to make such communications and receive communications, where the Policy allows, on any subject to do with Your Policy or placement.
8.7 Any agreement or acknowledgement of receipt We provide will be in writing. Unless We have agreed something in writing then agreement cannot be assumed.

9.Complaints

9.1 It is our intention to provide you with a high level of service at all times. Similarly, we expect our Clients to conduct themselves in a professional manner and to provide Trafalgar Risk Management with clear and concise instructions. If you have cause to feel unhappy with us in any way please contact, in the first instance, the Office Manager either orally or in writing. Your complaint will be acknowledged within two (3) working days advising of who is dealing with the complaint and indicating when you may expect an answer. Trafalgar Risk Management will provide a formal written response within twenty (20) working days from receipt of the original complaint. If a complaint cannot be resolved within this timescale, Trafalgar Risk Management will write to you with an explanation and the likely timescale involved.
9.2 Should the Client believe the matter has not been resolved to its satisfaction, Trafalgar Risk Management will advise of any further redress available to the Client.

10.Confidentiality

10.1

All information supplied by the Client to Trafalgar Risk Management will be treated as private and confidential, and will not be disclosed to any other parties without your consent, subject to this section 10.

10.2

We will use and disclose the information provided by You in obtaining quotations and arranging and administering your Policy with Underwriters.

10.3

We may use information we hold about You to provide You with details of other products or services Trafalgar Risk Management feels may be of benefit to You. If You do not wish to receive such information, please let Us know.

10.4 We may need to share Your information with the regulator, the Financial Ombudsman Service and or the Financial Services Compensation Scheme. They usually ask for block information rather than individual details but under the terms or our authorisation We are obliged to co-operate with them including the provision of information they request.
10.5

We use business advisers, banks, accountants, solicitors and other professional services. We Use data back-up, and other backroom office services. In the provision of their service to Us they may have access to some data depending on the service they provide.

10.6 The provisions of this clause shall survive termination of the Policy for any reason.

11.Termination

11.1 The Policy between You can the Underwriter shall be subject to its own termination conditions. In addition You agree to the additional conditions in section 11.
11.2

You agree that Trafalgar Risk Management shall be entitled to terminate the Policy or withdraw its Quotation, with immediate effect upon notice to the Client in the event of:-

(i) non-payment of Premium within the specified premium payment period; or

(ii) if required to do so by the Underwriter

11.3 Your agree that Trafalgar Risk may terminate any Policy and or quotation if for any reason We believe that to continue with the Policy and or quotation might breach the law and or the regulators rules.
11.4 You agree that We may withdraw a quotation if for any reason We believe that misrepresentation occurred or that through un-deliberate error the total price has been understated or the cover incorrectly described and would not be available on those terms through Us.
11.5

You agree as Client that in the event of the Policy being terminated by the Client, Trafalgar Risk Management will be entitled to keep all commissions and/or fees paid to Trafalgar Risk Management in relation to the Policy being cancelled.

12.General

12.1

If any provision under these Terms of Business is found by any court, tribunal or administrative body of competent jurisdiction to be wholly or partially illegal, invalid, void, voidable, unenforceable or unreasonable it shall to the extent of such illegality, invalidity, voidness, voidability, unenforceability or unreasonableness be deemed severable and the remaining provisions of the Terms of Business shall continue in full force and effect.

12.2

Failure or delay by Trafalgar Risk Management in enforcing or partially enforcing any provision of these Terms of Business will not be construed as a waiver of any of its rights under the Terms of Business.

12.3

Unless otherwise agreed, no terms of this agreement are enforceable under the Contracts (Rights of Third Parties) Act 1999 by any person that is not a party to it.

12.4

These Terms of Business shall be governed by and construed in accordance with English law and both parties submit to the exclusive rights of the English courts.

13.Data Protection

13.1

Each party shall comply with all appropriate data protection legislation and principles, including but not limited to the data Protection Act 1998 (as amended) in relation to personal data controlled or processed by it.

13.2 Trafalgar Risk Management reserves the right to pass client details onto other businesses within the group.
13.3

You warrant that where You have provided information about another person, then You have sought and obtained all necessary authorisation from that person or their representative for Us to use their information as described.

13.4 You agree that We may transfer Your data and any information You provide outside of the EEA. One Underwriter is situated in Guernsey. E-mails travel through the internet and We have no control over what route they take. Directors of our business travel overseas on business and two have offices in Australia. If they need to give personal attention to a task then then We may have to send them data when they are outside the EEA.