Terms & Conditions of Liability and Professional Indemnity Insurance - Updated 15th November 2009

Clarke Roxburgh Insurance Brokers Limited are authorised and regulated by the Financial Services Authority (FSA). Our FSA registration number is 310320. You can check our permissions on the FSAs website www.fsa.gov.uk/pages/register or by calling them on 0845 606 1234.

Please note: Not all products and services offered are regulated by the FSA. We will tell you when this is the case.

We are an insurance intermediary and will act on your behalf in arranging your insurance requirements. However, in certain circumstances we may act for or owe a duty of care to other parties such as insurers. We will advise you when these circumstances occur so you will be aware of any possible conflict of interest.

We offer a wide range of products and our service includes: advising on and recommending insurance cover following an assessment of your demands and needs; negotiating terms on your behalf with insurers; providing you with sufficient information so you can make an informed decision; making arrangements with the insurer for your policy to start; and helping you with any on-going changes you have to make; including assistance should you need to make a claim.

Depending on the type of cover you require, we will either; look at a range of insurers that is representative of the insurance market; or select from a restricted panel of insurers; or offer you a contract from a single insurer. We will advise as to which one of these applies when we make our recommendation. A list of the insurers considered will be made available upon request.

In most cases we are paid commission by the Insurance Company but in some circumstances, we may charge you a fee instead of commission or a combination of both. We also reserve the right to charge fees when making mid-term changes to your policy including, providing duplicate documentation, arranging new policies, and for administrative tasks. We will advise you of the amount of fee when this occurs. If you would like details of how much commission we earn for arranging your policy, please let us know.

If you make a change, or cancel your policy mid-term which results in a return of premium, we will retain our commission or fee amount to cover our administration costs, this amount will be specified to you during the transaction process.

We will help you when you need to make a claim on your policy. In the event that we no longer act as your appointed broker we may choose to continue to manage any outstanding or unreported claims subject to a claims management fee.

Client money is money that we receive and hold on behalf of our clients over the course of our relationship.

In most cases we will have an agreement with the Insurance Companies whereby any money received by us will be treated as if it has been received by the insurer and the Insurance Company will bear the risk of any losses in the event that our firm becomes insolvent. In the same way, we may have an agreement with the Insurance Company whereby claims money or premium refunds received by us from the insurance Company will not be treated as received by you until they are actually paid over to you. In cases where we do not have these agreements with Insurance Companies we will hold your money in either a statutory or a non-statutory trust client money bank account. Both of these accounts are governed by rules which seek to protect clients against the inability of an Insurance Broker to transfer premiums to Insurance Company, or to transfer refunds and/or claims money to a client.

The terms of a non-statutory trust account allow us to use the money held in trust on behalf of one client to pay another client’s premium before it is received from that client and to pay premium refunds or claims before we receive payment from an Insurance Company. This is normal practice within the Insurance Industry. We are not permitted to use Client Money for any other purpose. If you do not wish us to hold your money in a non-statutory trust account, please let us know. Any commission due to us may be taken from the client money account and this may be taken before we pass the premium onto the insurer. If we earn interest on any money held in this account this will be retained by us and not passed on to you. If we use a third party to place your insurance we may need to transfer your money to that party but we still remain responsible for your money until it is received by the insurer. In some cases this may mean that your money is transferred to a third party outside of the UK whereby the legal and regulatory systems are different. If such a third party fails, your money may be treated differently to that of a UK firm. If you do not want your money to be passed outside of the UK or if you have any other objections to this section, please contact us immediately. If we do not hear from you we will assume you consent to us handling client money in this way.

If you are a customer classified as a “consumer” (This is where you are acting for purposes outside of your trade, business or profession) you have the right to cancel your policy within 14 days of receiving your policy documentation. If you decide to cancel your insurance contract within this timeframe and you have not made a claim on the policy, you will receive a refund of premium paid, less any reasonable costs, including administration charges, incurred by us and the insurer in providing the cover. We also reserve the right to retain any commissions or fees details of which will be specified to you at the time of the cancellation upon request.

We are committed to providing our customers with a high standard of service but understand things can go wrong. If for any reason we have not met your expectations please let us know by informing your usual contact or you can contact our complaints department on 01905 795599. If you are not happy with our response you may be eligible to refer your complaint to the Financial Ombudsman Service (FOS). Full details of their service can be found at www.financial-ombudsman.org.uk or you can call them on 0845 080 1800.

If we are unable to meet our obligations, you may be able to submit a claim to the Financial Services Compensation Scheme (FSCS). Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of a claim, without any upper limit. For compulsory classes of insurance (such as motor insurance), insurance advising and arranging is covered for 100% of the claim. For full details and further information please contact the FSCS helpline on 0207 892 7300 or visit their website www.fscs.org.uk.

It is our normal practice to regularly assess the financial strength of the Insurance Companies that we introduce to our clients. The process involves monitoring the financial ratings applied by independent rating agencies such as Standard & Poor’s and Moodys along with other readily available information. The ratings applied to each firm are a reflection of the agencies’ views on the medium to long-term ability of each firm to meet its obligations to its policyholders. Where an insurer achieves or exceeds our minimum requirements we place it on our acceptable list. Whilst we take every care to promote only the strongest Companies, we are unable to guarantee their financial strength.

In supplying services to you we may share information about you with credit reference agencies and other companies for fraud detection and/or money laundering prevention.

From time to time we may send you information about similar products or services offered by Clarke Roxburgh and other companies within the Jelf Group PLC either by post, telephone or e-mail. If the product or service is offered by another company within the Jelf Group, we may pass your contact details to them so they can contact you directly.

If you do not want us, or any other company within the Jelf Group, to send you this type of information or if you would like further information on how your information is used and your rights to access information we hold about you, please write to the Data Protection Officer at 20 St Andrews St, Droitwich Spa, Worcestershire, WR9 8DY

It is important that you understand that any information, statements or answers made by you to us or your Insurance Company are your responsibility and must be full and correct. Your attention is drawn to the importance of the declaration and signature on any forms you complete, as any failure to disclose fact or circumstance material to the insurance, and any inaccuracies or inadequacies in your answers, may lead to a claim not being paid by your insurer and the cover could be invalidated.

Other than injury to or the death of any person resulting from our negligence (for which no cap on liability will apply), our liability to you for the services we provide shall not exceed £50,000,000 in connection with any one event or connected events.

This agreement may be cancelled by either party by giving 30 days notice in writing to the other.

These terms of business shall be governed and construed in accordance with English Law. In relation to any legal action or proceedings arising out of, or in connection with, these terms of business unless otherwise agreed we both irrevocably submit to the jurisdiction of the courts of England and Wales.