Grove Financial Management Ltd

T/As: Grove Insurance Services

 

Grove Insurance Services is authorised & regulated by the Financial Services Authority.

Our FSA Registration Number is 306101 – You can check this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk/register or by telephoning 0845 6061234.

 

The Financial Services Authority is an independent watchdog that regulates financial services. It requires us to give you this document. Please use the information to confirm that the service we are offering is right for you.

 

Our Service - In arranging insurance for our clients we act as an independent intermediary and we act on your behalf in arranging your insurance. Our service includes advising you on your insurance needs based on a fair analysis of the market, arranging your insurance cover with insurers to meet your requirements and helping you with any ongoing changes you have to make. We offer a wide range of insurance products and have access to leading insurers in the market place. Please note that our Uninsured Loss Recovery service is not an insurance product and is not covered by the FSA regulations.

 

Complaint Procedure - If you wish to register a complaint, please contact the directors either in writing or by telephone using the above details.  On notification of a complaint we will investigate and acknowledge within 5 working days and will provide a full written response within 20 working days. Should you not be satisfied with our final response you may be entitled to refer to the Financial Ombudsman Service.  If following our subsequent investigations and response you may contact the Financial Ombudsman Service at Second Floor South Quay Plaza, 183 Marshall Wall, Docklands, London E14 9SH, telephone number 0845 0801800.  The FSA telephone number is 0845 6061234.

 

Your Duty of 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 the information given could result in the insurance policy being invalid, or cover not operating fully or a claim not being paid. It is important that you ensure that all statements you make on proposal forms, claims forms and other documents are full and accurate before signing the document. If a form is completed on your behalf you must check the answers shown to any questions are true and accurate before signing the document. We recommend that you keep copies of all correspondence you send to us or direct to your insurer and that all material facts are disclosed even if you have doubts about the need to disclose them.

 

Policy Cancellation - The mediation contract is an agreement between you and us for the insurance mediation services that we provide to you in respect of your insurance requirements. Once you have entered into the mediation contract with us, you are entitled to a period of reflection during which you may decide whether to proceed with the purchase of the mediation contract. The duration of this cancellation period is 14 days and commences from either:

a) The day of conclusion of the mediation contract;

b) The day you receive the full terms of the mediation contract detailing the full contractual terms, conditions and information of the contract; whichever is the later.

 

To cancel this mediation contract within the cancellation period please write to us at the above address. If you do cancel this mediation contract within the cancellation period you may be charged a proportion of any of our fees that you have incurred. If we wish to cancel this mediation contract we shall write to you at the last known address we have for you on our records.

 

If you decide to cancel the mediation contract with us at any time other than during the cancellation period, we will retain in full any fees that you have paid. If the policy is cancelled, we will refund the premium calculated by the insurer less the commission we have to refund to them less a £20.00 administration charge unless this is cancelled due to non-payment of premium when no refund will be made. Annual Travel and Legal Expenses policies are annual contracts which mean there is no refund on cancellation of these types of policy. If a claim occurs between the inception and cancellation date the insurers will not allow a refund of premium. Please note we will not be in a position to refund any premium due until the item appears and is cleared from the insurers account.

 

Finance Services Compensation Scheme (FSCS) – We are covered by the FSCS which means you may be entitled to compensation from the scheme if we cannot meet our obligations, depending on the type of business and the circumstances of the claim.

 

Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of any claim, without an upper limit.

 

Administration Charges – In addition to any premium charges by the insurer we normally make an administration charge of up to £20.00 for the activities (a)(b)(c) specified below and £7.00 for (d) which will be separately identified when requesting payment of refunding any premium:-

New Business, mid-term adjustments, amendments, alterations, cancellations and issue of duplicate documents.

Representing a cheque for payment which has been returned by a client’s bank.

Instalment charge for payment by three equal instalments.

Arranging Credit Agreements with a third party provider.

 

Validity of Quotation – The renewal quotation is provided to us by your insurer based on the information available to them at the time.  A claim before renewal or the disclosure of material facts could affect the renewal premium.  If we have given an alternative quotation this is based on the information available to us on the day the quotation was prepared.  All quotations are subject to change in the premium indicated and/or the terms and conditions that are applied.

 

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.

 

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 not insured.

 

Use for Marketing Purposes – We may use information held about you, to provide you with information about other products and services which we offer, and which we feel may be appropriate to you, by email, telephone, post or other means.

 

You may exercise your right to give notice to stop data being processed for marketing purposes by contacting us at any time.  Please contact us on the above telephone number or write to us at the above address.

 

Claims – We have no authority to handle claims on behalf of insurers.  In the event of an incident occurring which may give rise to a claim under your policy, you should notify the insurer direct as soon as possible using the contact details in your policy document.

 

When we receive notification of an incident that might give rise to a claim under your policy, we will inform the insurer without delay and, in any event, within three working days.  We shall use our best endeavours when acting on your behalf in relation to a claim, to handle all elements of the claim with due care, skill and diligence.  We will advise you promptly of insurers’ requirements concerning claims, including the provision, as soon as possible, of information required to establish the nature and extent of a loss.

 

If there is any conflict of interest, we shall only handle a claim on your behalf after we have disclosed to you all information you require, to enable you to decide whether to give your informed consent, and you have given that consent.

 

We will forward any payments received from insurers in respect of any claim, to you, without delay.  We will notify you of any request for information we receive from your insurers.

 

You should not admit liability or agree any course of action other than emergency measures carried out to minimise the loss until you have agreement from your insurer.

 

Premiums and Financial Aspects – In order to be able to offer you credit facilities, we are registered under the Consumer Credit Act and our Licence Number is 530351.  We normally accept payment by cash, guaranteed cheque or credit/debit cards.  You may be able to spread your payments through insurers’ instalment schemes, a credit scheme with a third party finance provider, or a facility we have arranged ourselves.  We will give you full information about your payment options when we discuss your insurance detail.

 

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 will provide you with any documents that you are required to have by law.

 

Risk Transfer – Premiums that we collect from you are held in an insurance broking bank account specifically used for the purpose of holding client premiums.  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 agreement 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 agreements with insurers.

 

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.

 

Governing Law – This Agreement shall be governed by the laws of England and Wales and the parties agree herewith that any dispute arising out of it shall be subject to the (non-) exclusive jurisdiction of the English Courts.  This Agreement shall be governed by the laws of Scotland and the parties agree herewith that any dispute arising out of it shall be subject to the (non-) exclusive jurisdiction of the Scottish Courts.

 

Other Taxes or Costs – Other taxes or costs, or both, may exist in relation to the products and services offered by us which are not paid through, nor imposed, by us.

 

Payment of Renewal Premiums & Mid-Term Adjustments – We accept payment by the following methods, cash, credit card (subject to a 2% charge), debit card or by monthly direct debit with RBS Finsure who may refer to a credit reference agency.  A premium paid by instalments is a loan to pay the premium not a premium for a short term policy.  This means that if the policy is cancelled the refund from the insurer may be insufficient to clear the balance outstanding on the agreement.  We may retain your insurance certificate whilst awaiting payment of a premium or acceptance of a credit agreement but we will ensure that you receive full details of your insurance cover and any documents you are required to have by law.  Please provide your written agreement to this arrangement by signing and returning the Instalment Application at the foot of our renewal notice.

 

Confidentiality and Data Protection – All personal information about you will be treated as private and confidential.  We will only use and disclose the information we have about you in the normal course of arranging and administering your insurance and will not disclose any information to any other parties without your consent except if we have to because we are regulated by the FSA or we have to by law.  We may use information we hold about you to provide information to you about other products and services which we feel may be appropriate to you.  Under the Data Protection Act 1998 you have the right to see personal information about you that we hold on our records.  If you have any queries concerning the information we hold please write to us at the above address.  In the interests of security and to improve our service, telephone calls you make to us may be monitored and/or recorded.

 

Commission Withdrawal – We receive commission from the premiums that you pay to 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.