Terms of Business
Please read this information carefully to decide if our services are right for you. These Terms, dated 21st October 2019, supersede any previous Terms of Business. They come into force immediately and remain in force until further notice.
They describe our professional relationship and the terms upon which we will provide our services to you. By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business. You should contact us if there is anything in these terms which you do not understand or with which you disagree.
Any reference to your policy in these Terms of Business refers to each and every policy which you purchase through us.
1. About us
Home and legacy Insurance Services Limited is an insurance intermediary and a credit intermediary. We are a wholly owned subsidiary of Allianz Holdings plc. The ultimate parent company of Allianz Holdings plc is Allianz SE. We are registered in England, company no. 30077252, at 47 Ladymead, Guildford, Surrey, GU1 1DB, United Kingdom.
Whenever we refer to "we", "us" and "our" in these Terms of Business it means Home & Legacy Insurance Services Limited.
2. The Financial Conduct Authority
The Financial Conduct Authority (FCA) is the independent watchdog that regulates financial services. Home & Legacy Insurance Services Limited is regulated by the FCA to carry out insurance distribution and credit intermediation activities. Our Financial Services Register number is 307523. This can be verified by visiting the Financial Services Register at http://www.fca.org.uk/register
3. Fair Processing
(How we use your information)
Your contact details will be used to communicate with you about your quote and if you take out your insurance with us, your policy. All written communication from us will be by email unless you tell us that you wish to receive correspondence by post.
Further information about how your data will be used can be found in our full 'Fair Processing Notice' at broker.homeandlegacy.co.uk Alternatively you can ask us for a copy.
When you call us to discuss your insurance all telephone calls will be recorded for our mutual protection, training and monitoring purposes. We will also ask a series of questions to ensure that we are speaking to you and not to a person who is not authorised to ask questions or give instructions to us on your behalf.
We may occasionally use your contact details to send you information about our other products and services. We will ask you if you'd prefer not to receive this information by email. We do not share your personal data with any third parties for their marketing purposes.
4. The services we provide
We can act as both your agent and as agent of the insurer at different times during the life of your policy. We explain who we act for throughout these Terms of Business.
We'll act honestly, fairly, professionally and always in your best interests. Our employees are not incentivised to recommend any particular contracts of insurance. We are not contractually obligated to place your insurance business with any of the insurers we deal with or to sell products exclusively for any insurer.
Our employees who act as advisors have the necessary skills, knowledge and the expertise to provide you with suitable advice and guidance.
We'll always aim to communicate with you in a way that is clear, fair and not misleading. We will provide you with information about our products at the point in the sales process when it will be most useful to you. This information will always be objective and relevant. We will ensure you are provided with the appropriate Insurance Product Information Document (IPID) in the necessary format for all products where the provision of this document is a regulatory requirement.
Our services include advising you (giving you a personal recommendation) on your insurance needs, arranging your insurance cover with insurers to meet your requirements and helping you with any ongoing changes you have to make. If you are unfortunate and have to make a claim, we will also assist you and tell you what your responsibilities are in relation to making claims.
We offer our own Home & Legacy branded insurance products. We act as your agent when we are recommending our products.
We do not offer you advice based on a 'fair and personal analysis' of the market. We will advise and recommend the most appropriate of our products for you after we have assessed your demands and needs. This includes at renewal and when we contact you by telephone to discuss information that you have entered into our website forms.
The advice we provide you with will be confirmed in a written demand & needs statement giving the reasons why we consider the product we've recommended best meets your needs.
Most of the insurers who underwrite the insurance cover for our products have delegated underwriting and other authorities to us. This means that if you decide to purchase a policy based on our recommendation (including at renewal) we have the authority to agree cover and to issue policy documentation and renewal documentation on their behalf. Where we have delegated authority and are arranging your insurance we act as agent of the insurers.
When we provide you with a quote or contact you when your policy is due for renewal we will always provide you with details of the insurers your cover could be placed with.
Our selection of insurers takes into account their financial standing and our understanding of market conditions. Our assessment is subjective and we cannot guarantee the future ability of any insurer to meet its obligations.
5. The Products we provide
We offer our own products as described below. These may be offered from a single insurer or from a limited range of insurers.
Prestige, Ultra and Ultimate Home
Our insurance policies for high-value homes and possessions. In conjunction with our home insurance products we can also offer Multi-trip travel to provide annual travel insurance for you and members of your household who permanently live with you.
|Prestige Home, Ultra Home and Ultimate Home||Insurers who offer cover|
|The buildings, contents and liability cover sections of these policies could be placed with any of the insurers listed.||
|The legal expenses cover section (automatically included) is only offered from a single insurer.||
|The home emergency assistance cover section (automatically included) is only offered from a single insurer.||
|The identity fraud detection and assistance section (automatically included) is a non-insured service offered from a single provider.||
|Multi-Trip Travel||Insurers who offer cover|
|This policy cover is only offered from a single insurer.||
Premier Motor and Ultimate Motor
Our comprehensive motor insurance policies which automatically include cover for legal expenses and UK breakdown and recovery.
|Premier Motor and Ultimate Motor||Insurers who offer cover|
|The sections of the policy providing cover for loss or damage to your vehicle and your liability to theirs could be placed with either of the insurers listed.
|Motor Legal expenses cover (automatically included) is only offered from a single insurer.||
|UK breakdown and recovery (automatically included) is only offered from a single insurer.||
Prestige and Ultra Landlord, Landlord's Legal Expenses and Landlord's Rent & Legal Protection.
Our insurance policies for residentially let property; to offer cover for buildings and contents; loss of rent (following tenant default) and landlord legal expenses.
|Prestige Landlord and Ultra Landlord||Insurers who offer cover|
|The buildings, contents and liability cover sections are only offered from a single insurer.||
|Landlord legal expenses cover (automatically included with Ultra Landlord) is only offered from a single insurer.||
|Landlord rent protection (optional cover with Ultra Landlord) is only offered from a single insurer.||
|Landlord Emergency property assistance (optional cover with Ultra Landlord) is only offered from a single insurer.||
|Rent & Legal Protection and Landlord's Legal Expenses||Insurers who offer cover|
|The cover for these policies is only offered from a single insurer.||
We can also offer to arrange insurance cover with other insurers for some risks that we cannot accommodate under our own products, for example cover for building works at your home such as extensions or new buildings.
When we provide you with a quote for other insurers' products we will always provide you with details of the insurers who underwrite the cover. We act as your agent when recommending and arranging other insurers' products.
6. Policy Documentation
We will issue all required policy documentation to you in a timely manner. This will normally be within 7 working days of the contract of insurance being concluded. You are responsible for reviewing your policy documentation to ensure that the details are correct and the cover provided meets your requirements. Where we have given you a recommendation we will enclose a statement of demands and needs with your documentation. You should read this carefully as it will set out the reasons for our recommendation. If the cover does not meet your requirements you should advise us as soon as possible.
Where we are not giving you any advice or recommendation we will send you an insurance product information document setting out the key features of the insurance provided, which you should carefully review to make sure the insurance meets your requirements. If the cover does not meet your requirements you should advise us as soon as possible.
7. Change of Circumstances
You must advise us as soon as possible of any changes in your circumstances that may affect the cover provided under your policy.
8. Mid-term changes to your policy
If you ask us to make a mid-term change to your policy and the terms and conditions have changed since you commenced or renewed your policy, we will inform you of this and provide you with a written explanation for the changes to those terms and/or conditions.
If you are due a return premium following a mid-term change to your policy, any amount due to you will be returned by us without delay.
If the mid-term change request is an instruction for the cancellation of your policy, any amount that is due to you will be returned by us without delay and no later than 30 days.
9. Renewal/automatic renewal
You will be provided with the renewal terms no less than 21 days before the expiry of your policy, or notified that renewal is not being invited. Included with the renewal terms will be a statement of any changes to the terms of your policy, statement of price and information about your cancellation rights. You will also be given an explanation of any other general changes made to your policy and advised of your right to request a new policy wording.
When we invite renewal we will indicate the renewal premium together with details of the premium you paid for the cover you required at the start of the previous period of insurance.
If you made any mid-term changes that affected the premium we'll also indicate the amount you would have paid at the start of last year having taken those changes into account.
You will also be reminded that you may wish to check that our policy cover continues to be appropriate for your needs compared to the levels of cover and prices that are offered by alternative providers.
If you pay your premium using the premium finance facilities we offer and you decide that you do not want to renew your policy, or do not want to continue to pay your premium by instalments, you will be asked to contact us with your clear instructions. If you do not respond to our request on or before your renewal date we will automatically renew your policy. This means that the insurance cover will continue to be provided to you and you will be obliged to continue to pay for your policy cover.
10. Customer monies
We are governed by the FCA rules designed to protect you when we hold monies on your behalf.
We have agreed with the insurers that any premiums you pay to us will be treated as having been paid to them when they are received into our segregated customer bank accounts that they require us to operate.
We have also agreed with the insurers that any claims monies or premium refunds that are paid to us by them will not be treated as having been paid to you until you receive them. When we hold your monies we act as agent of the insurers.
We will deduct any commission and fees that are due to us before we pay the premiums to the insurer.
We will inform you in advance if, for any product we recommend or arrange for you, the monies are not to be held by us as an agent of the insurer concerned. Under those circumstances we will ask you to liaise directly with the insurer concerned. In these situations we will act as your agent.
Any interest that we earn on monies held in our customer bank accounts will be retained by us for our own use, rather than paid to you.
You must notify us as soon as possible of a claim or circumstances which may result in a claim under your policy. Full details of how to claim can be found in your policy wording. If you are unfortunate and have to make a claim, we will assist you and tell you what your responsibilities are in relation to making claims.
For our own products most of the insurers we deal with have delegated claims handling authority to us up to agreed limits with some exceptions. When we agree and settle claims on behalf of the insurer directly with you we act as agent for the insurer.
As we act as agent for the insurer there may, on occasion, be a risk of a conflict of interest, when we cannot act without breaching our duty to either the insurer or to you. In these circumstances we will inform you of our position and ask you for your consent for us to act. It may be reasonable under some circumstances for us to agree to decline to act for either party.
For claims that fall outside of our delegated authority and for other insurers' products we have arranged on your behalf, you will liaise and deal directly with the insurers' representative and/or insurer concerned. For these claims when we are assisting you we act as your agent.
When you notify us of a claim which we cannot handle as an agent of the insurer we will advise you that we cannot deal with the claim and will forward the details to the insurer concerned promptly in order for them to handle. With your consent we may agree to liaise with the insurer concerned on your behalf.
In the event that an insurer becomes insolvent or delays making settlement we do not accept liability for any unpaid amounts.
12. Our remuneration and administration fees
Our remuneration is a commission paid to us by insurers, which is a percentage of the insurance premium paid by you (including at renewal).
We are also remunerated by a commission from our premium finance provider if you take out a premium finance loan with them to spread the cost of your premium. This commission is included within the interest you are required to pay which is added to the loan.
You may, at any time, request information from us about any commission which we may have received.
We do not charge you an administration fee when you make a change to you policy mid-term.
However, if you decide to cancel your policy after the initial cooling off period (the period of time during which you are permitted to change your mind and withdraw from the contract) we will charge you an administration fee, as set out in the table below.
(if a single vehicle insured throughout the entire period of insurance.)
(if multiple vehicles insured or insurance was provided for multiple vehicles at time during the period of insurance)
13. Premium finance
We act as a credit intermediary to be able to offer you premium finance loans from Close Brothers Premium Finance Limited (CBPF) a third party finance provider.
When we discuss your insurance with you (including at renewal) we will give you full information about our premium finance facility as this facility may allow you to spread the cost of your premium.
If you decide to take out a premium finance loan the amount of the loan will include the insurance premium and the interest which will be charged at a fixed rate of 6%. You will be informed of the annual rate of percentage adjustment (APR %) which is variable. This information is provided to help you to compare the cost of similar loans. The APR % varies dependent on the amount and term of the loan and assumes that the monthly payment will be paid on time.
Before you decide to commit to a loan it will be important to ensure that you can afford the monthly instalments. Defaulting could result in cancellation of your loan, your insurance policy or both and your credit rating may also be affected. Premium Finance Loan applications are always subject to acceptance by CBPF. A credit assessment will be carried out which may use credit scoring, credit reference agencies and automated decision-making systems. This assessment will leave a hard footprint on your credit file.
If there are arrears (you miss a monthly payment) CBPF charge a default fee of £30 when collecting the outstanding amount. If the loan agreement has to be cancelled due to unpaid arrears they will also charge you a cancellation fee of £15.
14. Conflicts of Interest
Conflicts of interest can cast doubt on our integrity and professionalism so we take all appropriate steps on an ongoing basis to identify and to prevent conflicts of interest between you and us (this includes our employees and other companies within the Allianz Group with whom we are closely linked); or between you and another customer.
When the arrangements we put in place are not sufficient to manage conflicts of interest we will disclose the general nature or sources of any conflicts to you together with the steps we have taken to mitigate those risks. This will enable you to take an informed decision and for us to either obtain consent from you for us to act or to decline to act.
15. What to do if you have a complaint
If you wish to register a complaint, please contact us by writing to: The Operations Director, Home & Legacy Insurance Services Limited. 500 Avebury Boulevard, Milton Keynes, MK9 2LA. Email email@example.com or call us on 0344 893 8370.
Complaints which the insurer or a service provider is required to resolve will redirected.
If we cannot settle your complaint, you may be entitled to refer it to the Financial Ombudsman Service. www.financial-ombudsman.org.uk , Phone 0300 123 9 123 or +44 02 7964 0500 (for calls from outside the UK), or Email firstname.lastname@example.org.
If your complaint is about a product you bought online, you may use the Online Dispute Resolution Service http://ec.europa.eu\odr. If you submit you complaint this way it will be forwarded to the Financial Ombudsman Service.
16. The Financial Services Compensation Scheme (FSCS)
We and the insurers are covered by the FSCS and you may be entitled to compensation from the scheme if we or insurers cannot meet our liabilities. Further information about compensation scheme arrangements is available from the FSCS. www.fscs.org.uk, Phone: 0207 741 4100
Please note our activities when acting as a credit intermediary are not covered by the FSCS.
17. Amendments to these Terms of Business
By accepting these terms you agree that we have a right to amend them by sending you either a notice of amendment in writing or a revised Terms of Business agreement.
We will always endeavour to give you at least 30 days' written notice of any changes to give you time to consider them, except where the change is required sooner on order to comply with regulatory requirements (in which case we will give you notice of the change as soon as is reasonably practicable).
18. Law and Jurisdiction
These terms of business shall be governed by and construed in accordance with English law. In relation to any legal action or proceedings arising out of or in connection with these terms of business we both irrevocably submit to the non-exclusive jurisdiction of the English courts.