The Event Insurance Services Terms of Business, outline some of the more formal information about us, our services and conditions should you apply for insurance, get a quote or take out a policy. We are a non-advisory company so this information is imporant, but will be provided to you by us with your policy or quotation documents.
About our insurance services
Who are we?
Event Insurance Services Ltd and we are a general insurance intermediary and broker.
We are authorised and regulated by the Financial Conduct Authority.
The Financial Conduct Authority is the independent watchdog that regulates financial services.
Our Financial Conduct Authority Register number is 309998. You can check this on the Financial Conduct Authority’s Register by visiting www.fca.org.uk or by contacting the Financial Conduct Authority on 0300 500 8082.
Our permissions enable us to act in relation to non-investment insurance contracts.
Whose products do we offer?
We normally only offer the products of a single insurer. However, we do have other underwriters for contingency purposes.
Bspoke Underwriting Ltd are our primary underwriter. If your requirements fall outside of their limits, we approach a secondary underwriter on your behalf.
Our secondary underwriter is Beazley Plc. This agency is designed to cater to clients and events whose cover requirements, location or activities are unable to be insured by Bspoke Underwriting Ltd.
You will be advised who will be underwriting your policy prior to sale and or quotation stages.
If you receive a quote or policy from Bspoke Underwriting Ltd, be aware that you could have been placed with Beazley Plc.
You can request to receive quotations from both underwriters if you wish to be presented with every option available.
What services will we provide you with?
We do not make recommendations, so you will not receive advice from us. We will provide you with relevant information about the products we offer, so you can make an informed decision as to how to proceed.
We may ask some questions to narrow down the selection of products that we will provide details on.
We will only provide you with information on products which match the demands and needs you advise to us.
What will you have to pay us for this service?
For all policies, regardless of provider, we charge an administration fee of £25 for policies which are successfully cancelled outside of your 14-day cooling off period. If time on risk is charged and we retain some of the original insurance premium, then the £25 admin fee will not be applied.
We do not charge any administration fees for the re-distribution of documents or to make amendments to policies.
*Please note, changes that increase the risk of the policy might be subject to a higher insurance premium and the additional premium will be payable.
We do not charge fees for policies provided by our primary underwriter, Bspoke Underwriting Ltd. However, if we approach an alternative underwriter such as Beazley PLC, then we charge an arrangement fee.
Our broker handling fee is dependent on the pre-tax premium, we use the following scale:
If your premium is up to £250 – the fee is £10
If your premium is between £251 and £500 – the fee is £50
If your premium is between £501 and £1,000 – the fee is £75
If your premium is between £1,001 and £2,000 - the fee is £100
If your premium is between £2,001 and £3,000 – the fee is £125
If your premium is between £3,001 and £4,000 – the fee is £150
If your premium is between £4,001 and £5,000 – the fee is £175
Any pre-tax premium of £5,001 or higher – the fee is £250
For payments that we receive in a currency other than GBP a charge of £25 will apply (This charge will be converted to the currency being used).
On whose behalf do we act?
At different times throughout your journey with us, we will act either on behalf of you, our client; or, on behalf of the insurance company.
We have identified that this could lead to potential conflicts of interests, which we have document and have managed to ensure we are always acting fairly.
Through Bspoke Underwriting Ltd, we have been granted the authority to handle claims, complaints, tailor quotes and bind policies up to certain limits and therefore act on their behalf.
What to do if you have a complaint?
It is our intention to provide you with a high standard of service at all times, but if you wish to register a complaint, please contact us by telephone on 01425 470360 so that we can discuss and deal with your complaint or query as quickly and efficiently as possible.
You can also email us at firstname.lastname@example.org
or alternatively put your complaint in writing to the Managing Director at the address overleaf.
If you cannot settle your complaint with us you may be able to refer to the Financial Ombudsman Service.
The Financial Ombudsman Service’s consumer help line can be contacted on 0800 023 4 567. Additional information regarding their services can be found on their website www.financial-ombudsman.org.uk
Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the Financial Services Compensati
on Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. Non-compulsory insurance is covered for 90% of the claim without any upper limit.
For compulsory classes of insurance, advising and arranging is covered for 100% of the claim without any upper limit. Further information on the scheme is available from the FSCS.
Looking after your money.
The insurer has appointed us as agents for the receipt of money, and in accordance with their instructions we hold your money in an insurer premium account until it is passed to the insurer or returned to you.
You are responsible for paying premiums by the due date. We have no obligation to fund premiums for you and have no responsibility for any loss you may suffer because of the insurer cancelling the policy due to non-payment.
We normally accept payment by cheque, debit or credit card.
We do accept payment by Bank Transfer, however funds must be visible in our account prior to any documentation being issued or cover being in force.
Your contract of Insurance – information and changes we need to know about.
You must take reasonable care to provide complete and accurate answers to the questions we ask when you take out, make changes to and renew your policy. If you are in doubt, please contact us.
If the information provided by you is not complete and accurate:
The insurer may cancel your policy and refuse to pay any claims.
The insurer may not pay any claim in full or your premium may be revised, or an excess imposed, or
The extent of the cover may be affected.
In addition, if you are taking out insurance related to your business or for commercial purposes, the law has now changed so with effect from 12th August 2016 you have a duty to make a fair presentation when taking out a policy or making a change to one taken out before that date. The duty of fair presentation means you also must make any disclosures in a way that is clear and substantially correct.
Your responsibility to read all documents.
When a policy and related documents, e.g. policy summary, are issued you are strongly advised to read them carefully as they form the basis of the cover you have purchased.
If you are in doubt over any of the policy terms or conditions, please tell us promptly.
Your cancellation rights.
Consumers have the right to cancel new policies within 14 days of receipt and renewal instructions within 14 days of renewal and receive a full refund on the basis no claims have been made and/or the event has not taken place.
For any policies cancelled outside of this 14 day period please refer to the above heading – “What will you have to pay us for this service?”
Protecting your data.
Insurers share information with each other to aid the prevention of fraudulent claims. In the event of a claim, information is placed on industry registers for analysis.
Under the General Data Protection Regulation, you have several rights with regards to your data. A privacy statement will be provided to you as part of any application process.
Confidential data is not otherwise shared with other parties unless it is a legal or regulatory requirement. We are required to hold certain data for a minimum of seven years and up to seventy years.
All our calls are recorded for training, claims handling and policy administration purposes.
What to do in the event of a claim.
If you want to claim on your policy, you should notify us immediately by telephone on 01425 470360, or refer to the ‘How to make a claim’ section of your policy wording.
You should not admit liability nor agree to any course of action, other than emergency measures carried out to minimize the loss, until you have agreement from either your insurer or us.
We settle certain claims on behalf of the insurer under a delegated authority agreement, depending on the type and value of the claim. Where we have claims handling authority we will act as agent for the insurer. This will help us deal with your claim promptly. We have procedures in place to ensure you are fairly treated and our objective is to settle every customer claim in a fair manner in accordance with policy terms.
If we believe in a claim that a conflict may arise, we will tell both the customer and the insurer in order that a mutually acceptable way forward can be agreed.
Unless we specifically advise to the contrary, we will stand by quotations for 7 day from date of issue.
Quotations will be issued with an expiry date.
If your quotation has expired, contact us and we can look to reinstate the quote, rather than you having to re-apply for the insurance.
Nature & Source of Income
We are remunerated by receiving a commission from our insurers.
We may also receive a profit share which is paid by an insurer.
Prior to the conclusion of each insurance contract, or upon renewal, we will remind commercial customers of their right to be advised of the level of commission we receive from underwriters.
Commercial customers are entitled at any time to request information regarding commission we may have received because of placing their insurance business.
Unless some other law is agreed in writing, this policy is governed by English law. If there is a dispute, it will only be dealt with in the courts of England or of the country within the United Kingdom in which your main residence is situated.
We are committed to being as environmentally friendly as possible and therefore will not send out postal documents unless requested by yourself. We will not charge you for this service.
Marketing and Cookies.
We may follow up applications made to us, offer renewals for single event policies and request feedback from you on our services.
Our website used HTTP Cookies, on an opt in basis. Full details about what we use them for is available on our website as well.
If you have previously opted in to of receiving any marketing from us, you can opt out by informing us via email or over the phone.
If you have not opted in to receive marketing, we will not be contacting with direct marketing material.
Statement of fact.
A statement of fact will be provided to you with your policy documents.
This is a copy of your responses to our queries which you should read, and check is correct before the date of your event.
The responses which you provide us with are material facts which will form part of the insurance contract.
If any information presented to us proves to be incorrect or inaccurate, your policy could be invalidated, or a claim not fully paid.
Renewing of policies
We do not automatically renew any policy, or retain any payment details you may provide us.
We will invite renewal on policies, even short term, one off event style covers, if we feel there is a likelihood of the event taking place the following year i.e. a festival or fete which could be an annual event.
To renew a policy, we either require a telephone renewal to be completed, or a renewal invitation form to be returned to us.
Bspoke Underwriting Limited policies are underwritten by Watford Insurance Company Europe Limited.