Terms of Business

The following Terms of Business Agreement sets out the basis on which Inval Holdings Ltd., trading as Routen Chaplin, will provide business services to you.

Acceptance
The purpose of this agreement is to set out our professional relationship and detail the services that will be provided to you. For your own benefit and protection, you should read all of the information carefully. If you do not agree with any part of this agreement, please tell us.

You are deemed to have accepted these terms of business unless you advise us otherwise within 7 days of receipt.

The Regulator
We are authorised and regulated by the Financial Conduct Authority. Our Firm Reference Number is 304376 We are permitted to arrange and advise; deal as an agent of insurers and clients; assist in claims handling in respect of non-investment insurance policies. You can check these details online using the Financial Services Register at https://register.fca.org.uk/ or by contacting the Financial Conduct Authority Consumer Helpline on 0800 111 6768. We are also authorised by the FCA for credit broking and act for two lenders.

Your duty of disclosure
Consumers:
You must take reasonable care not to make a misrepresentation to the insurer. This means that all the answers you give and statements you make as part of your insurance application, including at renewal and when an amendment to your policy is required, should be honest and accurate. If you deliberately or carelessly misinform the insurers, this could mean that part of or all of a claim may not be paid.

Non-constumer customers: Where we arrange insurance wholly or mainly for purposes related to your trade, business or profession, you have a duty under The Insurance Act 2015 to make a fair presentation of the risk. This means that you must disclose every material circumstance which you and/or your senior management and/or anyone responsible for arranging your insurance know or ought to know. Alternatively, you must disclose sufficient information which would put the insurer on notice that it needs to make further enquiries for the purpose of revealing those material circumstances. You are expected to carry out a reasonable search in order to make a fair presentation of the risk and will be deemed to know what should reasonably have been revealed by the search.

Your duty of fair presentation applies at the start of the policy, at renewal and when any variation of the policy is arranged. If you fail to make a fair presentation, the insurer may refuse to pay your claim or reduce the settlement amount, depending on the circumstances.

Cancellation
Please contact us immediately if you wish to cancel any insurance policy we have arranged for you. You may have a right to cancel a policy without penalty within the first 14 days (or, in some cases, longer). If you cancel within this initial cancellation period (where this applies) you will receive a pro rata refund of premium from the insurer. However, insurers are entitled to make an administrative charge. In addition, we may charge an amount which reflects the administrative costs of arranging and cancelling the policy.

If you choose to cancel other than within an initial cancellation period, you may not receive a pro-rata refund of premium.

Protecting your information
All personal information about you will be treated as private and confidential (even when you are no longer a customer) except where the disclosure is made at your request or with your consent or where we are required by law to disclose it. We will use your information in relation to setting up and administering your insurance and any related credit arrangements. Some or all of the information you supply to us in connection with your insurance proposal or application for credit may be passed to insurance and other companies for underwriting, claims and premium collection purposes this will include our sister company Routen Chaplin Wealth Management Your data will be held in accordance with the Data Protection Act 1998, under which you have a right of access. We and the insurers and credit providers may use publicly available data from a variety of sources, including credit reference agencies and other external organisations. Each of the searches may appear on your credit report whether or not your application proceeds.

Fees and charges
In addition to the premiums charged by insurers, we may charge professional fees to cover the placing and ongoing handling of your insurance. Such fees will always be advised to you in advance. If you pay your premium by instalments we shall inform you of any additional fees, charges or interest as part of your credit arrangements.

Our earnings
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 or arranging premium nance.

How to claim
Please refer to your policy summary or your policy document if you need to notify a claim. You should contact us or the insurer direct as soon as you become aware of any incident which could give rise to a claim. If in doubt about whom you should contact, or if you require our assistance in relation to a claim or potential claim please contact us.

Protecting your money
Prior to your premium being forwarded to the insurer (or forwarded to you in the event of a premium refund) we generally hold your money as an agent of the insurer with which we arrange your insurance. Where we hold premium as the agent of the insurer it is regarded as received by the insurer. If we are not acting as an agent of the insurer when we receive your premium, we shall hold it as client money in Statutory Trust for you within a client bank account with an approved bank. Our client bank accounts may contain other clients’ money and money we hold as an agent of insurers. In line with strict FCA rules, our client bank accounts are rigorously monitored in order to segregate and safeguard client money. We reserve the right to retain interest earned on our client bank accounts.

We may transfer your premiums to the insurer through another party, such as a broker or underwriting agent for the purposes of effecting a transaction.

Complaints
It is our intention to provide a high level of service at all times. However, if you have reason to make a complaint about our service you should contact us immediately on 0115 973 4437. You may be entitled to refer the matter subsequently to the Financial Ombudsman Service. You can contact the Financial Ombudsman Service by telephone on 0800 0 234 567 or http://www.financial-ombudsman.org.uk/. If you do this your legal rights will not be affected.

Financial Services Compensation Scheme (FSCS)
We are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. Insurance advising and arranging is covered for 90% of the claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, also without any upper limit. The compensation scheme does not apply to consumer credit. Further information about compensation scheme arrangements is available from the FSCS on 0800 678 1100 or 020 7741 4100 or by visiting http://www.fscs.org.uk/

Conflicts of interest
As insurance brokers we generally act as your agent in advising you, arranging your insurance and assisting you in the event of a claim. In certain circumstances we may act for and owe duties of care to insurers and/or other parties. Any con icts of interest will be identified and discussed with you.

Insurer selection
We offer insurance products from a range of insurers for most products but from a limited number of insurers for other products. A list of these is available on request.

Insurer security
The insurers we use are regulated and are required to have adequate capital resources. However, we cannot guarantee the solvency of any insurer we place business with.

Termination
You or we may terminate authority to act in connection with your insurance arrangements at any time. Notice of termination must be given in writing and will be without prejudice to the completion of any transactions already commenced. Any business currently in progress will be completed unless we receive instructions to the contrary. Any premiums or fees outstanding will become payable immediately. In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days’ notice.

Law and jurisdiction
These Terms of Business are subject to English Law and shall be subject to the exclusive jurisdiction of the courts of England and Wales.