About Our Insurance Services
(Our Terms and Conditions)
The Financial Conduct Authority (FCA) The FCA (formerly known as FSA) is the Independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide if our services are right for you.
Products that we offer We offer products from a panel of insurers for commercial vehicles, commercial risks, fleets, goods in transit, household buildings/contents, liability, motor cycles, motor traders, offices, private cars, property owners, and travel. We only offer Legal Expenses Policies from Broker Solutions and some specialist niche products from a single market.. We can provide you with a list of the insurers we deal with on request. All Quotations are usually valid for 30 days unless stated otherwise.
The service we will provide We will advise and make a recommendation for you after we have assessed your demands and needs. Following your purchase we will seek to assist you regarding policy amendments, payment plan, claims, and renewal.
What you will have to pay us for our services A non-refundable policy issue fee of between £10 and £50 (on personal insurance products, and up to £100 on Commercial products), will be made on new policies, mid-term adjustments and renewals and cancellation. We will highlight the level of this charge and any other charges, before you agree to take the insurance out. You will receive a quotation and policy summary which will tell you about any other fees relating to any particular insurance policy. We also may earn a small commission from the insurer or provider which we will divulge on request.
Looking after your money Money we hold on your behalf will be kept in a Statutory Trust Bank Account under the FCA rules until it is passed to the insurer or returned to you. Some insurers have appointed us as agents for receipt of money and where this applies, they specify the banking arrangements for their money. We will only use your money to pay insurers or other brokers for your insurance. Where we are due commissions from insurers we will only take these after we have paid the insurers.
Who regulates us? Stephenson and Threader Insurances, 82 Manchester Road, Droylsden, Manchester, M43 6PE is authorised and regulated by the Financial Conduct Authority. Our Registration number is 301973. You can check this on the FCA’s register by visiting their website www.fca.org.uk/register or by contacting the FCA on 0845 60 1234. We are also registered with the Information Commissioners Office for Data Protection.
Instalments Schemes and Payment by Direct Debit If we go on cover you must undertake to pay the premium when called upon to do so. If the premium (including charges) has not been paid in full within 30 days of inception we will cancel your policy. If you have opted to pay us in instalments or pay your premium via Direct Debit, you must pay the instalments within the stated payment dates, failure to do so will result in cancellation. If paying by Direct Debit, for your convenience and protection we will automatically renew your policy unless you tell us otherwise.
Your Duty of Disclosure The information that you provide us with forms the basis of the contract of insurance and it is your legal duty to ensure that all information is, to the best of your knowledge and belief, correct and complete. Failure to disclose all relevant information could result in the policies being declared invalid. For Commercial Customers, the law has now changed so with effect from 12th August 2016 you also have a duty to make a fair presentation when taking out a policy or making a change to one taken out before that date. The duty of fair presentation means you also have to make any disclosures in a way that is clear and substantially correct.
Cancellation Arrangements You have the right to cancel your policy within 14 days of receiving it. If you exercise this right then the Insurer will charge you only for the cover you have had (although there may be a small charge for the administration costs involved as well). Full details will be contained in the policy summary you will receive. This right is in addition to any other cancellation right you may have after this 14 day period has expired. You need to note also that our charges mentioned above are separate from the Insurers and if the policy is cancelled at anytime, these will not be refunded, we also reserve the right to charge up to £50 for cancellation and retain original commission earned.
What to do if you have a complaint If you wish to register a complaint, please contact us:
In Writing to…..Stephenson and Threader, 82 Manchester Road, Droylsden, Manchester M43 6PE
By email to…..email@example.com
By Phone…… 0161 370 5400
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
Your premiums are covered by the Financial Services Compensation Scheme (FSCS)? As we are authorised by the FCA, we are covered by the FSCS , as are the insurers we place your premiums with. To qualify for compensation you simply have to be an individual, or a business with under a £1 million annual turnover. The full details of this protection and any limits can be easily viewed by visiting their web-site www.fscs.org.uk .