The purpose of this information below is to describe our professional relationship and the services we will provide to you.

1. Definitions
(a) “We/us/our” means Credent Commercial Insurance of 17 Everard Road, Rhos on Sea, Colwyn Bay, Conwy, LL28 4EY. Tel. 01492 546886. Fax 01492 540127. Email address : info@credentinsurance.co.uk Website: www.credentinsurance.co.uk
(b) “FSA” means the Financial Services Authority

2. Regulation
We are authorised and regulated by the Financial Services Authority. Our FSA Register Number is 304700. We are permitted to: advise customers, arrange deals, and deal as an agent on general insurance contracts; make arrangements with a view to transactions in general insurance contracts and assist in the administration and performance of a general insurance contract. You can check this information by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

3. Status
We are a private limited company, incorporated in the UK – Company No. 5083057. We are an Independent intermediary, and act on your behalf in arranging insurance. Our service includes advising and assessing your needs and arranging your insurance cover with an insurer to meet your requirements, and helping you with any ongoing changes. We arrange insurance with leading insurers and we recommend from a fair analysis of the market, or, according to the nature of the risk, we may have a limited range of insurers or only one insurer, in which case we will inform you prior to inception of the contract. We can provide a list of insurers on request. You can deal with our office by letter, phone, fax, e-mail or in person. Our normal Hours of Opening are Monday to Friday 9.00am – 1.00pm and 2.00pm to 5.00 pm. We will advise you should we have any special arrangements with the Insurer or should you have to deal directly with the insurer for ongoing policy administration. We may issue policies and handle claims on behalf of some insurers. 
Credent Commercial Insurance,
17 Everard Rd,
Rhos on Sea,
Conwy,
LL28 4EY
Tel: 01492 546886
Email: info@credentinsurance.co.uk
Insurance and Risk Management Consultants
You will be advised should we act as an Appointed Agent or Appointed sub-agent for any other organisation regulated by the FSA and we will inform you should we place your insurance through any other intermediary regulated by the FSA. We will not in any circumstances act as an insurer, nor will we guarantee or otherwise warrant the solvency of any insurer. In certain circumstances we may place your risk with an intermediary or insurer outside of the U.K.
If you object to this you should notify us immediately otherwise your agreement to place business in this manner and acceptance of these Terms of Business will constitute your informed consent. Please note that in these circumstances the legal and regulatory regime applying to the insurance intermediary or insurer may differ from that in the UK and consequently if the insurance intermediary or insurer fails, the premium may be treated in a different manner from that which would apply if the premium was held by an insurance intermediary or insurer in the UK.

4. Professional Indemnity
We conform to the requirements of the FSA in respect of Professional Indemnity Insurance. This type of insurance is a mandatory requirement for authorisation.

5. Confidentiality
Unless required by law, public interest, virtue of our membership of the FSA, or you give us consent, all information you supply will be kept confidential to us and parties involved in the normal course of arranging and administering your insurance. Under the Data Protection Act 1998 you have the right to see personal information about you that we hold in our records.

6. Disclosure of Information
It is important that you understand that any information, statements or answers made by you to us or the Insurer are your responsibility and must be accurate and factual. Your attention is particularly drawn to the importance of the declaration and your signature on any Insurers’ proposal form. Any failure to disclose material facts when required to do so, including each renewal date, which are relevant to the insurance, or any inaccuracies in the answers may invalidate the insurance cover. Material Facts are any facts or circumstances which would affect the judgement of a prudent underwriter in considering whether to accept the risk or not. A contract of insurance is based on the concept of “utmost good faith”.

7. Conflict of Interest
There may be occasions when a potential conflict of interest arises. If this happens we will inform you and obtain your consent before we carry out your instructions. Credent Commercial Insurance, 17 Everard Rd, Rhos on Sea, Conwy, LL28 4EY Tel: 01492 540127 Email: info@credentinsurance.co.uk

8. Electronic communications
We may communicate with each other by electronic mail, sometimes attaching further electronic data, where we have each expressed a wish for that to happen. By consenting to this method of communication we and you accept the inherent risks of unauthorised access, interception or corruption and the risks of viruses or other harmful devices, although we and you will be responsible for having reasonable virus checking procedures on our systems. Under this method of communication there is still the responsibility by yourself to ensure that the disclosure of information more fully described in section 6 is both accurate and factual. Please note that you cannot assume that instructions of any kind sent to us by email have been complied with until you receive our confirmation.

9. Terms and awareness Quotations
Unless otherwise agreed, quotations will be available in writing and will be valid for a period of thirty (30 ) days from the date the quotation is provided. A specimen policy document is available on request. Awareness of Policy Terms When a policy is issued you are strongly advised to read it carefully as it is that Document, the schedule and any certificate of insurance that is the basis of the insurance contract you have purchased. Cancellation You may be entitled to cancel your policy within 14 days of policy inception or receiving full documentation (except for short period policies), details of which will be given to you when you take out the policy. Renewals Where you pay your premium by direct debit we will automatically renew your Policy unless you advise us to the contrary. Documents with your consent we reserve the right to retain Certificates or other policy documents in this office until we are in receipt of full payment of the policy premium(s). If we withhold documents we will ensure that you receive full details of your insurance cover and provide any documents you are required to have by law.

10. Payment Terms, Costs and Remuneration, and Client Money Disclosure
Unless otherwise agreed we require full payment of the premium(s) within fourteen (14) days of the policy inception or renewal date. We will provide you with separate premiums for each of the products and services we are offering. Our remuneration will be either a fee as agreed with you and/or commission which is a percentage of the insurance premium paid by you and given to us by the insurer with whom the insurance is placed, which we will disclose on request. Brokerage and fees are earned for the policy period. Any changes to existing policies will be handled promptly and confirmed in writing. Information will be given on any additional premiums, fees or charges required. Credent Commercial Insurance, 17 Everard Rd, Rhos on Sea, Conwy, LL28 4EY Tel: 01492 546886 Email: info@credentinsurance.co.uk. Where a policy is cancelled mid-term any return premium will be net of any cancellation charges made by insurers and our commission. It may be appropriate, for your benefit, for us to use other parties such as underwriting agencies that may also earn and retain commission or make a charge for their role in providing products and services and we may pass the money you pay to us to that intermediary. We may earn additional income from insurers and from premium finance providers to reflect our efficiency and/or profitability and from interest on our client statutory trust account which you consent to us retaining. All insurance premiums will be held in a Statutory Trust account in accordance with the FSA’s Client Money Rules, the (“Client Money Rules”). This means that such monies are held separately from our own money and whilst we have legal ownership the money remains for the benefit of our clients. In the majority of instances we act as agent of insurers for collection of premium. This means that premiums are treated as being received by the insurer when received in our bank account and the insurer will bear the risk for any losses that may arise from the failure of our firm.

11. Claims Procedure
In the event of a claim please report all incidents to our office as soon as possible 01492 546886. We will provide advice and assistance, and if appropriate issue you with a claim form. If our office is closed you can report the incident to your insurer, and their helpline number will be found on your policy document. Forward all documents or correspondence you may receive to us immediately, unanswered, for your insurers to deal with on your behalf. Delay may prejudice your claim.

12. Complaints
It is always our intention to provide a first class service. However, should you have any cause for complaint you should in the first instance contact us by telephone or in writing. We have a formal complaints procedure details of which will be forwarded to you immediately. Your insurer also operates a complaint procedure, details of which are explained in your policy booklet. If you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR Telephone 0845 080 1800. We are covered by the Financial Services Compensation Scheme (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. Insurance advising and arranging is covered for 100% of the first £2000 and 90% of the remainder of the claim, without any upper limit. For compulsory classes of insurance (Motor and Employers Liability) insurance advising and arranging is covered for 100% of the claim, without any upper limit. Further information about the compensation scheme arrangement is available from the FSCS. Credent Commercial Insurance, 17 Everard Rd, Rhos on Sea, Conwy, LL28 4EY Tel: 01492 546886 Email: info@credentinsurance.co.uk

13. Notice
Insurers pass information to the Claims and Underwriting Exchange and the Motor Insurance anti-Fraud & Theft Register. The aim is to check information provided and also prevent fraudulent claims. Motor Insurance details are added to the Motor Insurance Database operated by the Motor Insurers Information Centre, formed to help identify uninsured drivers, and may be accessed by the Police authorities to confirm relevant policy details and who is insured to drive.

14. Motor Insurance Database (MID)
In accordance with the 4th European Union directive (and any subsequent legislation) we will endeavor to assist you in complying with legislation for the notification of vehicles to the MID. We will agree any charge with you that we might need to make for this service. The responsibility for notification of required vehicle data remains with you, the policyholder, and we cannot accept responsibility for vehicles either incorrectly registered or not registered on the database whether notified to us or not. NOTE: Your acceptance of these Terms of Business does not affect your normal legal rights. V.2 April 2007  Credent Commercial Insurance, 17 Everard Rd, Rhos on Sea, Conwy, LL28 4EY Tel: 01492 546886 Email: info@credentinsurance.co.uk

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