Terms of Business

Terms of business agreement
Black Rock Express Insurance and Financial Services Limited trading as
Black Rock Insurance Services
Authorised and regulated by the Financial Conduct Authority No: 310592. Registered Office: 36 Cambridge Road, Hastings, East Sussex.
TN34 1DU. Registered in England No: 4035401, Consumer Credit Act Licence No 644418, Data Protection Act Registration No: Z6888002
Please read this document carefully. It sets out the terms and conditions on which we agree to act for you, contains details of our responsibilities
together with your responsibilities both to us, to insurers and to other third party providers. Please contact us immediately if there is anything in this
document that you do not understand/or with which you disagree. Your receipt of this document constitutes your informed consent to its contents.
In the interests of security, staff training and to generally improve our service please be aware that telephone calls may be monitored and/or
1. Definitions
1.1. A Consumer means anyone acting outside their trade or profession in respect of the insurance cover requested or arranged.
1.2. A Commercial customer means a customer who is acting within their trade or profession in respect of the insurance cover requested or
1.3. ‘You’ or ‘your’ means you (and/or your appointed agent).
1.4. ‘We’ or ‘us’ or ‘our’ means the firm noted in the heading of this document.
2. Who regulates us?
2.1. We are authorised and regulated by the Financial Conduct Authority (FCA) an independent body that regulates the UK financial services
industry. Our details may be confirmed on the FCA’s Register www.fca.org.uk or by phoning the FCA on 0800 1116768.
3. Our service
3.1. We are committed to providing you with quality advice, service and insurance products. As an intermediary and your agent we owe
various duties to you and will advise you as necessary if circumstances occur that may create a possible conflict of interest.
3.2. Our permitted business activities are advising, arranging (bringing about) deals, making arrangements with a view to transactions, dealing
as agent, assisting in the administration and performance of a contract and agreeing to carry on a regulated activity in respect of General
Insurance contracts.
3.3. We will advise you and will make a personal recommendation after we have assessed your insurance needs. This will include the type of
cover you require together with the costs involved. We undertake to explain the main features of the products and services that we offer to
you as well as the basis on which we have provided information and/or advice.
3.4. Upon receipt of your instructions we will place, amend or renew insurance cover on your behalf with insurers. We will advise you of any
inability to place your insurance.
3.5. You are not to rely on any insurance policy you have instructed us to place on cover until we have confirmed in writing to you that the
insurer has agreed to such insurance cover being in place. Please note that you must comply with the terms and conditions of the
insurance policy you purchase including any matters where the insurer makes cover subject to your compliance with conditions or with
express or implied warranties. Failure to comply may entitle the insurer to cancel your insurance contract and/or risks a claim you make
not being paid in part or in full. (Also see Clause 15. Claims).
3.6. Please also note, unless your policy confirms otherwise, the rights under your policy may only be pursued in an English court.
4. Our remuneration and other income
4.1. We are usually remunerated by commission from your insurer(s) for our insurance broking services, or by way of a fee negotiated and
agreed with you. If we receive both, this will be confirmed in writing to you at the time of incepting or renewing your insurance. In addition:
4.1.1. We may also make individual charges up to £100 to cover the administration of your insurances e.g. arranging a new policy, mid-
term adjustments, short period or mid-term cancellations, renewals, issue of replacement or duplicate documents. We may also
make individual charges where we prepare and issue documents on behalf of insurers; these will be confirmed in writing to you at
the time of incepting or renewing your insurance where applicable.
4.1.2. Some insurers may make additional payments to us reflecting the size and/or profitability of our account with them and/or in
respect of work we undertake on their behalf. In addition we may also receive payment from other firms, such as premium finance
providers, where non-insurance products or services are supplied to you.
4.2. Our remuneration in whatever form and in respect of any policy shall be due on the date of inception or renewal of that policy. We shall be
entitled to retain all commission and/or agreed fees in respect of the full policy period including where you appoint another intermediary in
our place during the currency of a policy or where a policy is cancelled after inception or renewal. (Also see Clause 13. Short period and
cancelled policies).
4.3. Commercial Customers are entitled, at any time, to request information regarding any commission which we may have received as a
result of placing your insurance business.
5. If resident in a country other than the UK
5.1. The law or regulations in your country of domicile may take precedence over any relevant UK legislation. Therefore references in this
document to the FCA or Financial Ombudsman Service or Financial Services Compensation Scheme and any rights or benefits
thereunder may not apply. If you wish to clarify your position in this respect then we will discuss this on request.
6. Duty to disclose accurate and full information – Consumer Customers Only
6.1. It is your responsibility to take reasonable care and, when asked, to answer all questions fully and accurately to insurers and us prior to
and when you purchase an insurance policy, throughout the life of the policy and when you renew that policy. Failure on your part to
immediately disclose accurate information when asked or provide misleading information could result in your insurer imposing different
terms on the policy, charging a higher premium, or in some circumstances may avoid the policy from inception and any claims would not
be paid.
6.2. All statements and material facts disclosed on proposal forms, statements of fact, claims forms and other documents should be full, true and accurate. Material facts are those that would influence an insurer in deciding whether or not to accept a risk and the terms and
conditions that would apply. Where forms are completed or partially completed on your behalf, you should check them for accuracy before
signing. If you are in any doubt as to whether a fact is relevant, you should disclose it and then ask for guidance.
7. Duty of disclosure – Commercial Customers Only
7.1. It is your responsibility to provide complete and accurate information to insurers and us prior to and when you purchase an insurance
policy, throughout the life of the policy and when you renew that policy. Failure on your part to immediately disclose information relevant
to your insurance or any inaccuracies in the information given could result in your insurance cover being invalid or not fully operative.
7.2. All statements and material facts disclosed on proposal forms, statements of fact, claims forms and other documents should be full, true
and accurate. Material facts are those that would influence an insurer in deciding whether or not to accept a risk and the terms and
conditions that would apply. Where forms are completed or partially completed on your behalf, you should check them for accuracy before
signing. If you are in any doubt as to whether a fact is relevant, you should disclose it and then ask for guidance.
8. Notification of changes, alterations and renewals
8.1. Amendments to policies may be arranged upon receipt of full details and on return of the certificate of insurance (if applicable). Cover is
subject to acceptance by insurers and payment of any additional premium required inclusive of Insurance Premium Tax (IPT).
8.2. Renewals are invited on the basis that there have been no changes in the risk other than those specifically notified to us or your insurers.
9. Insurer security
9.1. We will only place cover with insurers who satisfy certain minimum criteria assessed by the rating agencies and/or our own assessment,
or for whom you have given us specific approval to use. Whilst the information upon which we rely is obtained from sources considered to
be reliable, and we use all reasonable endeavours to review that information in order to protect your interests, predictability of solvency
cannot be, and is not, guaranteed by us. The financial standing of any insurer can, of course, change after the insurance contract had
incepted. We do not guarantee the ongoing ability of any insurer to meet their contractual obligations.
10. Quotations
10.1. Quotations are valid until the date cover commences up to a maximum of 30 days, unless otherwise stated. Specimen policy wordings
are available upon request.
11. Documentation
11.1. It is your responsibility to read all documentation upon receipt and raise any query regarding it otherwise you risk a loss you suffer not
being paid in part or in full. Documentation including your policy and certificate, if applicable, will be issued to you upon receipt from
11.2. You must check all documentation issued to you to ensure the details are correct and the insurance cover provided meets your
requirements. We will arrange insurance cover according to your instructions but only you can identify if it does not meet your intentions. If
you have any concerns in respect of your insurance cover or are uncertain as to the meaning of any terms and conditions or if you
discover errors in the documentation, then you must notify us immediately.
12. Payment of the premium
12.1. We must receive your payment, unless it is made by you directly to your insurer, by cheque, credit or debit card, electronic funds transfer
or be in receipt of a completed premium instalment application form (with deposit where requested) drawn on a bank, building society or
other UK financial institution account in the policyholder’s name and before cover commences unless we agree otherwise. A charge may
apply to payments made by credit card and this will be confirmed to you in writing at the time of incepting or renewing your insurance. If
we agree to accept payment from someone other than the policyholder then this must be notified to us and agreed by us.
12.2. We have no obligation to fund any premium, taxes or fees (if applicable) on your behalf nor do we have any responsibility for any loss you
may suffer as a result of cancellation of insurance cover or any other prejudicial steps taken as a result of late payment substantially
attributable to you. If we decide to retain certain documents whilst awaiting payment, we shall provide details of your insurance cover and
any information or documents required by law.
12.3. We shall be entitled (but not obliged) without providing notice to you to set off any amounts due to us from you, against any amounts
which we may receive on your behalf (i.e. claims monies, refunded premiums and other sums). Please be aware that full or partial non-
payment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy.
13. Transferred business
13.1. When we are appointed to service insurance policies other than at their inception or renewal and which were originally arranged via
another party, we shall not be liable during the current insurance period for any loss arising from any errors or omissions or gaps in your
insurance cover or advice not supplied by us. Should you have any concerns in respect of a policy, which has been transferred to us, or if
you require an immediate review of your insurance arrangements, you must notify us immediately. Otherwise we shall review your
insurance arrangements and advise accordingly as each policy falls due for renewal.
14. Short period and cancelled policies
14.1. If you wish to cancel your policy then you will need to return the policy document and current certificate of insurance (if applicable) and
confirm your cancellation instructions. Subject to the cancellation terms of your policy, a refund of premium may be available. Details of
any applicable cancellation terms and charges will be found in your policy documents. Our commission and/or fees are fully earned from
the date insurance cover commences and may not be refundable in the event of cancellation, avoidance or early termination of a policy.
15. Cooling Off Period – Consumer Customers Only
15.1. You have the statutory right to cancel a policy within 14 days of its conclusion or inception or renewal or upon receipt of the policy
documentation whichever is the later. You may without providing a reason, cancel the policy in accordance with its terms and conditions.
Any policy documentation and in particular any legal document, i.e. a certificate of motor insurance, should be returned with your
instruction to cancel.
15.2. These cancellation rights do not apply to a short-term policy of less than one month’s duration or to a policy for which the performance
has been fully completed. If no premium has been paid then a time on risk premium inclusive of Insurance Premium Tax (IPT) and in
addition to any relevant administration costs may be charged.
16. Claims
16.1. We will assist you with advice when you make a claim under your policy but it remains your responsibility to have read, understood or
queried all documentation upon receipt. All incidents that could possibly give rise to a claim must be notified to us or your insurer in
accordance with the terms of your policy and a claim form completed where required. Delay on your part in notifying a claim and/or
completing required forms may risk a loss you suffer not being paid in part or in full.
16.2. You must not under any circumstance admit liability for a loss or agree to any course of action, other than emergency measures carried
out to minimise the loss, as you will risk your claim not being met in part or in full. All correspondence, claims, writs, summonses etc. should be forwarded immediately, unanswered, either to us or to your insurer. You are also reminded of your duty to keep all losses and
costs arising from an incident to a minimum and that failure to comply with policy terms and conditions may invalidate cover.
16.3. We will remit claim payments received on your behalf, to you as soon as practicable after confirmation of receipt of cleared funds in our
bank account. In the event that an insurer becomes insolvent or delays making settlement, we do not accept liability for any unpaid
16.4. We will provide a claims handling service for you as long as you remain our customer. We reserve the right to charge a fee for our claims
services if you cease to be a client but still wish us to handle any claim, and we are prepared to do so. If you wish us to provide claims
services on policies issued before our appointment, we also reserve the right to charge you a fee.
17. Client and insurer money
17.1.The FCA requires us to hold all client monies, including yours, in a trust account, the purpose of which is to protect you in the event of
our financial failure since, in such circumstances; our general creditors would not be able to make claims on client money as it will not
form part of our assets.
1.1. We hold all client monies in a Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements,
the FCA imposes a trust over client money using its statutory powers in the Financial Services Markets Act 2000. We are not permitted
17.1.1. Make credit advances from this type of trust and cannot pay premiums to an insurer until the cleared funds have been received
from you and are not entitled to pay ourselves commissions before we receive the relevant premium from the customer.
17.1.2. Pay out your claim or any refund of premium until the money has been received as cleared funds from your insurer.
However, we may:
17.1.3. For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident
outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the
intermediary, this money may be treated in a different manner from that which would apply if the money were held by an
intermediary in the UK. Please inform us if you do not agree to this.
17.1.4. Retain for our own use, any interest earned on client money.
17.2. Your money will be held either as agent of the insurer or agent of the client, depending on which insurer(s) your insurance has been
placed with. Where money is held as agent of the insurer, this means that when we have received your cleared premium, it is deemed to
have been paid to the insurer.
17.3. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or
refund of premium which fall due to you, as being with your informed consent to the payment of those moneys into our Statutory Trust
bank account.
18. Our liability to you
18.1. Unless we have otherwise agreed with you in writing, we shall treat your instructions to us to place or renew your insurance cover as
acceptance of the limitation of our liability to you and to any other person with an interest in your insurance cover.
18.2. Our aggregate liability and the liability of our Affiliates to you, on any basis (including for example for breach of contract or negligence),
arising out of or in connection with these Terms of Business, shall be limited in total to £3,000,000.00. We shall not be liable to you in any
circumstances for any special indirect or consequential loss or loss of profits. These provisions shall not apply to any liability which cannot
lawfully be excluded or limited.
18.3. This limitation of liability clause shall survive termination of these Terms of Business.
18.4. You agree that if you do not notify us of material facts and circumstances relevant to the risk to be insured, including those which may
arise during the period of your insurance cover, then this will be treated by us as a statement that you have no information to supply in
relation to that fact or circumstance. If you do not understand any point please ask for further information.
19. Confidentiality and security
19.1. To help make sure you receive a competitive quotation, offer of appropriate payment options, protect against fraud and to verify your
identity, insurers may use publicly available data which they obtain from a variety of sources, including a credit reference agency and
other external organisations. Their search will appear on your credit report whether or not your application proceeds.
19.2. All information on our records relating to you will be treated as private and confidential and will only be disclosed to others such as our
business partners, insurers, credit providers and other third parties who are directly involved in the normal course of arranging and
administering your insurance. By accessing our sites and using our services, you consent to any such transfer of information to a third
19.3. Where you have given us consent we may use the data we hold about you to provide you with a renewal quotation and information about
products and services we consider may be appropriate.
19.4. Our Retention of your Personal Information – By using our services you consent to us and our partners retaining any personal information
you have provided. We will retain any personal information only for as long as is necessary to fulfil the business purpose for which it was
collected. We will also retain and use your personal information for as long as necessary to comply with our legal obligations, resolve
disputes, and enforce our agreements.
Under the General Data Protection Regulations 2018, you have the right to ask us for a copy of any personal information about yourself
that we hold on our records. Please contact us if you require any more information. For further information on your rights under the
General Data Protection Regulations please refer to the Information Commissioners Office – www.ico.org.uk.
20. Termination of our authority to act on your behalf
20.1. You or we may terminate our authority to act on your behalf by providing at least 14 days notice in writing (or such other period we agree).
Termination is without prejudice to any transactions already initiated by you, which will be completed according to these Terms of
Business unless we agree otherwise in writing.
20.2. You will remain liable to pay for any transactions or adjustments effective prior to termination and we shall be entitled to retain any and all
commission and/or fees payable in relation to insurance cover placed by us prior to the date of written termination of our authority to act
on your behalf.
21. Severability
21.1. If any provision of these Terms of Business is found to be invalid or unenforceable in whole or in part, the validity of the other provisions of these Terms of Business and the remainder of the provision in question will not be affected.
22. Assignment
22.1. We are entitled to assign these Terms of Business to any other company within the group of companies of which we are part but then
only for so long as such company remains a member of such group.
22.2. We are entitled to transfer client monies to an identical bank account held in the name of any other company within the group of
companies of which we are a part but then only for so long as such company remains a member of such group.
23. Law and jurisdiction
23.1. These Terms of Business which form our agreement with you shall be governed by and construed in accordance with the laws of England
and the exclusive jurisdiction of the English courts unless we agree with you otherwise.
24. Rights of Third Parties
24.1. Unless otherwise agreed between us in writing no provision of this Terms of Business is enforceable under the Contracts (Rights of Third
parties) Act 1999 by any person other than you or us.
25. Insurer credit searches
25.1. Insurers may ask credit reference agencies to provide a credit scoring computation. Credit scoring uses a number of factors to calculate
the risks involved in any application. A score is given to each factor and a total score obtained. Where automatic credit scoring
computations are used by the insurer, acceptance or rejection of your application will not solely depend on the results of the credit scoring
25.2. To ensure you receive the most competitive offer from insurers, now or at any time and to protect customers from fraud and verify
customer’s identity, insurers may use publicly available data which they obtain from a variety of sources, including credit reference
agencies and other external organisations. Their search will appear on your credit report whether or not your application proceeds.
26. Premium finance credit searches
26.1. When applying for a loan to facilitate payment of your premium by instalment facilities, your application for credit will be passed to the
credit provider who in assessing your application may search public information held by a credit reference agency about you. The credit
reference agency will add details of the search and your application to their record about you whether or not your application proceeds.
27. Bribery and corruption
27.1. We have no tolerance for bribery and corruption and this policy extends throughout the company for all of its dealings and transactions in
all countries in which we operate. Our anti bribery policy is updated in line with the changes in law, changes in our business and our
reputational demands. All employees are required to comply with this policy.
28. Sanctions
28.1. Both parties shall pay due regard to, and co-operate in respect of the observance of, any applicable international economic, financial or
trade sanctions legislation.
29. Complaints
29.1. While we will always endeavour to provide you with a high level of customer service if you feel dissatisfied with the service you have
received you should, in the first instance, contact the office you usually deal with to register your complaint.
Or, alternatively you may refer the matter to –
email: blackrockiw@btconnect.com
post: John Jewett, Black Rock Insurance and Financial Services Limited.
Gordon House, South Street, Yarmouth, Isle of Wight PO41 0QB.
Tel: 01983 760377
29.2. We need you to help us by summarising the problem, policies affected and the resolution you expect. Please ensure whenever possible
that you quote your customer reference number together with the identity of our member of staff and office address.
29.3. We will endeavour to rectify the problem immediately but if we are unable to do so your complaint will be dealt with in accordance with our
formal Complaints Procedure, a copy of which will be provided to you.
29.4. If you remain dissatisfied you may be an eligible complainant within the rules of the Financial Ombudsman Service (FOS). Their
jurisdiction broadly covers those that employ less than 10 persons and whose turnover or annual balance sheet is less than 2 million
Euros, and charities or trusts whose turnover or net assets respectively are less than £1m. Should you remain dissatisfied with our final
decision or more than 8 weeks have passed since receipt of your complaint then if you wish, you may contact the FOS, details of which
can be found at www.financial-ombudsman.org.uk. Full details will be supplied in our Complaints Procedure.
30. Compensation
30.1. We are covered by the Financial Services Compensation Scheme (FSCS) and you may be entitled to compensation from the FSCS if we
cannot meet our obligations. Full details and further information on the scheme are available at www.fscs.org.uk.