In this Terms of Business the following words shall have the following meanings:
- "We, Us, Our, Ourselves" means the company known as Hammond Professional Indemnity Consultants Ltd.
- "I, You, Your, Yourself" means the party to these Terms other Hammond Professional Indemnity Consultants Ltd.
- "Services" means the services and/or work to be performed by Us for You.
Hammond Professional Indemnity Consultants Limited, of Beech House, Pinewood Business Park, Coleshill Road, Birmingham B37 7HG, is authorised and regulated by the Financial Conduct Authority (FCA). Our Firms Registration Number is 302911. We are permitted to arrange, advise on, deal as an agent of Insurers and assist in Claims handling with respect to non-investment Insurance policies. You can check these details on the FCA's Register by visiting the FCA's website https://www.fca.org.uk/register or by contacting the FCA on 0800 111 6768 (freephone) or 0300 500 8082 from the UK.
Ownership of Us
There is no ownership between Us and any Insurer.
Providing information to Your Insurer
Your insurance is based upon the information provided to the insurance company. Unless otherwise indicated by the specific Insurer underwriting Your particular Policy, the following circumstances apply.
For Consumers (individuals buying insurance wholly or mainly for purposes unrelated to their trade, business or profession) this means that You must take reasonable care to answer all questions fully and accurately. Once cover has been arranged, You must immediately notify Us of any changes to the information that has been provided to Your Insurers. Failure to provide accurate and up to date information may invalidate Your insurance cover and mean that a Claim may not be paid.
All other customers must present the risk (i.e. the subject matter of the proposed insurance) fairly. This means that You must disclose to Insurers, before arranging or renewing Your insurance Policy, and throughout the Policy period, anything that might influence the judgement of an Insurer in fixing the premium, setting the terms or determining whether they would take the risk. If You are uncertain whether anything is material, You should disclose it. In order to identify what must be disclosed, You are obliged to carry out a reasonable search before presenting the risk to Insurers. This includes (but is not limited to) consulting with all senior managers (anyone who plays a significant role in the making of decisions about how Your activities are to be managed or organised, regardless of whether or not that individual is a member of Your board or is formally in a management role). You must also consult with anyone who has particular knowledge about the risk to be insured. Failure to disclose material information may invalidate Your insurance cover and could mean that a Claim may not be paid or an additional premium may be incurred.
All statements and facts disclosed on proposal forms, statement of facts, Claim forms and other documents should be full, true and accurate. Where forms are completed on Your behalf You must check them for accuracy and completeness before signing them. You must always read the declaration and make sure You understand it before You sign.
If any information supplied changes during the course of the Policy period or setting up process, You musty notify Us and/or the Insurer as this may influence the cover and Policy terms and conditions. Failure to disclose material information may invalidate Your Insurance and could mean that part, or all, of a Claim may not be paid.
Terms relating to confidentiality
We agree to keep all information provided by You to Us confidential, save that You authorise Us to:
- disclose such information to Insurers and their agents for the purposes of obtaining insurance quotations for You, placing insurance on Your behalf and all other matters relating to Your insurances, including the making of Claims;
- share such information with Our own Insurers and professional advisors on terms that preserve confidentiality or where We are required by law or by order of the court to disclose such confidential information.
However, We will not be bound to keep any information confidential where it is or becomes in the public domain, it was already known to Us or becomes known to Us independently of You, or if You authorise Us to disclose such information.
Awareness of Policy Terms
When a Policy is issued You should read it carefully. The Policy together with the Schedule, Certificate of Insurance and "The Statement of Fact" (where applicable) form the basis of the contract of Insurance. If You are in any doubt over any of the Policy terms conditions or warranties then contact Us immediately.
Our Service to You
Professional Indemnity, D&O and EPL
We specialise in Professional Indemnity Insurance (PII) and its associated Insurances. We offer Products from a range of Insurers for Professional Indemnity Insurance, Directors and Officers Insurance (D&O) and Employment Practice Liability Insurance (EPL). The Products quoted and offered to You are from a fair analysis of the Insurance market. We have access to a wide range of providers so are able to discuss Your needs and to establish a Product best suited to You.
Other Insurance Products
Whilst We specialise in PII, We are able to offer certain other General Insurance Commercial Products when requested, however, We only offer these Products from a limited number of Insurance providers or may refer such enquires to another Broker or division within the Company.
Online Facility via Our Website
We also offer Products direct from Our website from specific Insurance providers. Online quotes are offered on a Direct Offer Basis and are subject to the Website "Terms of Business". You should ensure any Products purchased Online meet Your needs and requirements.
Our Quotation to You
We will quote all premiums net and gross of Her Majesties Government Insurance Premium Tax or the tax to be applied in the EU country where the Policyholder is resident. We reserve the right to withdraw premiums and premium indications before they are taken up and to apply any changes notified to Us by underwriters after they have been given. All quotations have a time limit after which they may require re-quoting. This is usually 21 days, unless otherwise stated.
Subjectivities and Evidence of Facts
In consideration of being granted Insurance cover under a Policy on the basis of providing evidence of Claims or other subjectivities You undertake to provide such evidence within ten days before the commencement date or an agreed timescale. If You do not provide such evidence, You must pay any increases in premium as a result. Insurers also reserve the right to cancel the Insurance cover ab initio or offer amended terms if the subjectivities are not forthcoming within this timeframe or to Insurers satisfaction. We also maintain the right to make a charge or to retain any commission to cover the administration involved in both placing the Policy and cancellation.
How to Cancel
You may have a Statutory Right to cancel a Consumer Insurance Policy within a short period. Where Statutory Rights to cancel can be exercised You will receive a pro-rata refund of Premium from the Insurer (subject to no Claims being made). We may also keep an amount that reflects Our administrative costs of arranging and cancelling the Insurance. Please refer to Your Policy document for further details.
Statutory Rights to cancel do not apply for Commercial Policies, & Cancellation Terms will vary between Insurers. In the event of a cancellation an administration fee of £48 will be charged in addition to any brokerage earned. We do not refund commission since this is earned for arranging the Policy (unless You are replacing the Policy through Our agency with another Insurer). We cannot guarantee that Insurers will agree to any Cancellation.
Claims Handling Arrangements
You should take note of the required procedures in the event of a Claim, which will be explained in the Policy documentation. Generally, Insurers require immediate notification of a Claim or Circumstances which might lead to a Claim. We will employ due care and skill if We act on Your behalf in respect of a Claim. In the event of a Claim You should NOT admit liability or take any action which could prejudice Your Insurer's position or their ability to investigate a Claim; enter into any Claims correspondence; settle or offer a payment; disclose Insurers involvement; disclose any details of Your Insurance Policy.
Claims will be notified to Insurers between Business Hours: 9am & 5pm from Monday to Friday (excluding bank holidays). Some Insurers stipulate that acceptance of any notification must be received by their own Claims Department before confirming Indemnity. If Your Policy expires outside of business hours and You have a Claim to notify, We will not be responsible for any matters NOT accepted by Insurers. If You have an urgent matter, please contact Us by telephone to discuss the position in the first instance.
We reserve the right to charge £75 per hour for the handling of any outstanding Claims which were notified to Us should the Insured/You no longer have a live Insurance Policy with the Us with the exception of where You are no longer trading.