Terms of Business Commercial Clients

Accepting our Terms of Business – By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business.
For your own benefit and protection, you should read these terms carefully. If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you, please contact us at the address below.

Who are we? – Thomas Sagar Insurances Ltd of Group First House, 12a Mead Way, Shuttleworth Mead, Padiham BB12 7NG are an independent insurance intermediary, registered number 610417. We are authorised and regulated by the Financial Conduct Authority FRN 303967. This can be checked on the FCA’s Register by visiting the FCA’s website http://www.fca.gov.uk/register or by contacting the FCA consumer helpline on 0800 111 6768.

Our relationships – As an independent insurance intermediary we act as the agent of our client and are subject to the law of agency. However, in certain circumstances we may act for and owe duties to other parties. We will advise you when these circumstances occur so you will be aware of any possible conflicts of interest.

We are affiliated to Thomas Sagar Holdings (Accrington) Ltd, which holds 100% of our voting rights and 100% of our share capital.

Our Service – Our role is to advise you and, after we have assessed your needs, to make a suitable recommendation. We will not in any circumstance guarantee the solvency of any insurer.

Whose products do we offer? – We select personal and commercial insurances from a range of insurers. We will give you further information about this before we finalise your insurance arrangements.

Your duties – You are responsible for providing the complete and accurate information which insurers require in connection with any proposal for insurance cover. Insurance Act 2015 imposes an obligation to make a duty of fair presentation of the risk to your insurers.

A duty of fair presentation requires:
i. Disclosing every material circumstance that you know or you ought to know, or failing that, disclosing sufficient information to put a prudent insurer on notice that it needs to make further enquiries for the purpose of revealing material circumstances
ii. Disclosing in a manner that is reasonably clear and accessible to a prudent insurer
iii. Ensuring every material representation as to a matter of fact is substantially correct, and every material representation as to a matter of expectation or belief is made in good faith

This is particularly important before taking out a policy and at renewal, but it also applies throughout the life of a policy. If you fail to disclose information, or misrepresent any fact which may influence the insurer’s decision to accept the risk or the terms offered, this could invalidate the policy and mean that claims may not be paid in full. You must check all details on any Proposal Form or Statement of Facts and pay particular attention to any declaration you may be asked to sign.

It is important that you read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply. Particular attention must be paid to any warranties and conditions as failure to comply with them could invalidate your policy.

You must inform us immediately of any changes in circumstances which may affect the services provided by us or the cover provided by your policy.

How are we paid? – We normally receive a commission from insurers or product providers; we may also charge for handling your insurances. You are entitled, to request information about any commission received in the placing of business or the arranging of credit facilities. You will receive a quotation that will tell you the total price to be paid, and which identifies any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded.

Full payment of the premium and fees is due before cover commences, or as otherwise stated under terms of invoice or statement issued to you. Unless we have agreed alternative arrangements in writing, failure to do so may invalidate the cover and enable Insurers to cancel the policy.
You may be able to spread your payments through a credit scheme with a third party finance provider or your insurer. We will give you full information about your payment options when we discuss your insurance in detail.

We only offer third party credit facilities with Close Brothers Premium Finance and Premium Credit Ltd. We reserve the right to charge a maximum fee of £500 for each Policy issued and £100 per Endorsement or Duplicate document issued. You will be invoiced accordingly if such a fee is deemed necessary.

What will happen if you cancel your insurances? – You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance must be returned to us or to the insurer concerned. In the event of cancellation, charges for our services will apply of the total amount of £50. The terms of your policy may allow insurers to retain the premium in full or to charge short-period premiums in the event of cancellation before the policy expires. If there has been a claim under the policy, there will not be a refund. Our charges and those of the insurers are not refundable and we do not refund the commission paid to us for arranging the policy.

Protecting your money – We hold your premium payment in a non-statutory trust client money bank account. This means we keep client money separate from our own money by paying it into a client money trust account. This allows us to use client money held on behalf of one client to pay another client’s premium before the premium is received from that other client, and to pay claims and premium refunds to another client before we receive payment from the insurer. However, we are not allowed to use client money to pay commissions before we receive the relevant premium from the client. Any interest earned on client money held by us will be retained by us for our own use. These terms of business constitute your acceptance of this.

Financial Services Compensation Scheme – We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim and further information about compensation scheme arrangements is available from the FSCS.

Use of personal data – We will process any personal information we obtain in the course of providing our services to you in accordance with the Data Protection Act 1998. In administering your insurances it will be necessary for us to pass such information to insurers and other product or service providers which may also provide us with business and compliance support.

We may also disclose details to relevant parties, as necessary, to comply with regulatory or legal requirements. We may contact you or pass your details to other companies associated with us in order to promote products or services which may be of interest to you. We will not otherwise use or disclose the personal information we hold without your consent.
Some of the details you may be asked to give us, such as information about offences or medical conditions, are defined by the Act as sensitive personal data. By giving us such information, you signify your consent to its being processed by us in arranging and administering your insurances. If at any time you wish us, or any company associated with us, to cease processing any of the personal data or sensitive personal data we hold, you can opt out at any time by contacting us on 01282 858250.

Complaints – We do our best to provide you with the highest levels of customer service at all times, however, should you wish to make a complaint you can do this in writing to James O’Brien, Thomas Sagar Insurances Ltd, Group First House, 12a Mead Way, Shuttleworth Mead, Padiham BB12 7NG, by email to info@sagarinsurances.co.uk or by telephone on 01282 858250 detailing the nature of the complaint.

If you have received our response and are still dissatisfied you can refer your complaint to the Financial Ombudsman Service*.
This is an independent body that arbitrates on complaints about general insurance products. It will only deal with your case if:
1. We have given you written confirmation that our own complaints procedures have been exhausted.
2. If you are a Consumer** or your business has a turnover of less than €2,000,000.

You have 6 months from our final response to refer to the Ombudsman.

*Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR, telephone 0845 080 1800 or fax 020 7964 1001. Email complaint.info@financial-ombudsman.org.uk.
**A Consumer is one who is not acting within a business trade or profession
Making a claim – You are responsible for notifying claims or circumstances which may give rise to a potential claim. Please read your policy documentation carefully as failure to notify in accordance with your policy requirements may lead to insurers rejecting your claim.

If you are aware of any incident which may give rise to a claim or if you wish to make a claim on your policy, please call our dedicated claims lines: For Motor claims call 0845 6436179 or for any other claims call 01282 858282.

Third party rights – Unless otherwise agreed between us in writing, no term of this agreement is enforceable under the Contracts (Rights of Third Parties) Act 1999.

Termination – Our services may be terminated by either party, giving of one month’s notice in writing to the other, or as otherwise agreed. In the event our services are terminated by you, we will be entitled to receive any and all fees or commissions due.

Governing law – The laws of England and Wales govern this agreement and any dispute is subject to the English courts.

Call recording – Any calls inbound or outbound to Sagar Insurances may be recorded for training and monitoring purposes.

Last Revised Date: 29/01/2018