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This contains important information, for your benefit and protection please do take the time to read it and let us know if you are unsure on any of the contents.
| Company Name: | PHL Insurance Brokers Ltd (PHL) |
| Trading Names: | FitPro Insurance Services PlastikCity Insurance Services |
| Ownership: | Independently owned |
| Office Location: | Dawson House 5 Jewry Street London EC3N 2EX |
| Registered Office: | Suite 402, 4th Floor, 20 Aldermanbury, London, EC2V 7HY |
| Registered Number: | 04851546 |
| Websites: | https//:phl-ib.co.uk www.fitpro.com www.plastikcityinsurance.co.uk |
| Contact: | hello@phl-ib.co.uk |
| Telephone: | 020 3974 6920 |
Authorised and regulated by Financial Conduct Authority (FCA) to advise on, arrange and assist in the administration and performance of general insurance products. Where instructed by you, to arrange credit in relation to associated insurance premiums.
Registration number (FRN): 301732. For further information; www.fca.org.uk or telephone 0800 111 6768
Financial Services Compensation Scheme (FSCS)
We are covered by the FSCS. You may be entitled to compensation from the FSCS if we cannot meet our financial obligations. This depends on the type and size of business and the circumstances of the claim.
Further information is available directly from the FSCS, www.fscs.org.uk or telephone 0800 678 1100 or 020 7741 4100.
Our service includes arranging insurance cover and helping you with any changes you require subject to appropriate remuneration. Where specifically agreed we will also assist with claims under the policies we arrange for you.
Where we operate under a delegated claims authority we will highlight this at first notification of loss. Delegated authority enables us to make decisions in-house and pay claims within criteria agreed with the insurer.
Additional fees may be payable where you require us to provide extra services including but not limited to due diligence work, contract reviews, and dealing with large or complex claims or losses. Any such fees will be agreed with you prior to undertaking any additional work.
We will explain in our communications with you why we are recommending a particular insurer and product.
Our commitment is to treat you fairly at all times by ensuring that we provide you with insurance products, services and advice that are suitable and meet your requirements and expectations.
At times we, or our group of associated companies may contact you or send you marketing literature and/or products that may be of interest. You can unsubscribe via your usual PHL contact or by replying to the communication you have received.
This agreement is governed by and construed in accordance with English Law and any dispute arising under it shall be subject to the exclusive jurisdiction of the English courts. Unless otherwise agreed between us in writing, no term of this agreement is enforceable under the Contracts (Rights of Third Parties) Act 1999.
We acknowledge that we may be liable to you for loss, damage, costs and expenses arising under, or in connection with, the services provided by us to you, whether arising in contract, tort and/or including our negligence subject to the following provisions:
(a) Unless otherwise agreed by us in writing, our maximum liability under, or in connection with, our services to you whether arising in contract, tort and/or including negligence shall not exceed £1.85 million in respect of any one claim or series of claims emanating from a single cause or circumstance.
(b) We shall not be liable to you for losses due to any act or omission by you or any other party including but not necessarily limited to providing false, misleading, inaccurate or incomplete information or documentation.
(c) We shall not be liable to you, or deemed in breach of this agreement for any delay or failure to perform any of our obligations to you where such delay or failure was due to any cause beyond our reasonable control.
(d) In circumstances where you appoint us to act as your insurance broker to administer policies arranged by another broker or brokers, we will not be liable for any loss resulting from the advice or possible negligence of your previous broker or brokers however caused.
(e) We shall not be liable for any losses incurred as a direct consequence of the financial failure of an insurer, underwriting agency, insurance broker or any other third party.
(f) You will not bring any claims against any of our employees, directors, officers or consultants whether past, present or future, any proven liability shall be PHL’s liability. Nothing in these terms and conditions shall exclude, or in any way limit, our liability for fraud or death or personal injury caused by our negligence or any other liability; to the extent that the same may not be excluded or limited by law; nor to the extent that we have a duty or liability to you under the regulatory system applicable to insurance intermediaries or under the Financial Services and Markets Act 2012 including any subsequent replacement or modification.
Upon receipt of instructions from you, we will place, amend or renew cover on your behalf with insurers. Cover is not in place until we have confirmed this to you in writing.
Unless we are specifically advised to the contrary in writing, we will be entitled to assume that everyone within your organisation (which term for this purpose includes any parent, subsidiary or associated company) who gives instructions to us, has the requisite authority to do so
(a) Introducing you to a Broker, Intermediary or Agent
Where we are required by you to identify such company to assist you and your local entity with arranging and advising on insurance covers and other associated services in another territory:
(b) Engagement Of A Local Company By PHL
Where we are required to instruct a local company in another territory to assist us in meeting your insurance requirements and/or other associated services and those of your local entity:
(c) Engagement of PHL by an Overseas Broker or Other Intermediary
We shall not be liable for any losses due to any acts, errors or omissions committed by an overseas/global broker or intermediary, its employees, directors, agents, affiliates or representatives.
(a) Your Duty To Make A Fair Presentation (Insurance Act 2015)
You have a legal duty following a reasonable search to make a fair presentation to disclose to an insurer, in a manner that is clear and accessible, every material circumstance which is known or ought to be known by your own senior management team, including those responsible for arranging the insurance and any agents acting on your behalf.
When conducting a reasonable search, you should consider:
A material circumstance is a circumstance which would influence the judgement of an insurer in determining whether to take and insure the risk and, if so, on what terms.
If you do not, this may result in claims being rejected or not fully paid as well as the insurance being potentially cancelled at any stage of the policy including at inception (i.e. treated as if it never existed), depending upon the manner and extent in which you fail to comply with this duty.
This duty not only applies at commencement and renewal of the policy but also at any time during the period of insurance, including when making a claim. Therefore it is very important that you keep us informed.
If you are unsure what you should inform us of or require further information, then contact us to seek clarification. In the event of any future changes, do tell us about these as soon as possible in order to allow us to update your records and inform insurers.
(b) Awareness Of Policy Terms
When a policy is issued, it is important that you read it carefully as it is that document, the schedule and any certificate of insurance, which is the basis of the contract you have purchased. Seek our advice promptly if you are in doubt about any term or condition.
Adequacy of Sums Insured and Limits
At all times it is your responsibility to ensure that the sum insured values and policy limits are adequate and reflect current, continuing and future reinstatement/replacement costs. Whilst we may assist in establishing and maintaining insured values we cannot accept responsibility for their accuracy.
We strongly recommend, where applicable, that the appropriate professional (e.g. surveyor/accountant/valuer) be consulted to ensure that the sums insured under the policy are correct. We offer services to assist in this regard; do contact us for more information.
Policies Transferred to us from other Insurance Brokers
In relation to insurance policies transferred to us we shall review these and advise accordingly as each policy falls due for renewal. However, we accept no liability for your previous broker’s or intermediary’s acts. Should you have any concerns or require an immediate review of such policies you should notify us immediately.
(c) Retention Of Documents
We reserve the right to retain certain documents such as your Policy, Motor Certificate or No Claims Bonus Proof until all premiums, fees, taxes and charges have been paid. In these circumstances we will ensure that you receive full details of your cover and will provide you with any documents you are required to have by law.
You should also carefully check and keep copies of any documentation you receive from us.
(d) Incidents & Claims
Failure to immediately notify incidents or circumstances that could potentially give rise to a claim may invalidate your insurance cover
and jeopardise the claim if submitted later.
You should tell us immediately about any incident or circumstance that could adversely affect or increase the nature of the risk
presented to the insurer.
Where we have agreed to provide a claims handling service you should tell us immediately about any incident or circumstance that could give rise to a claim. If we are not providing a claims handling service you should provide this information to your insurer. If a third party is involved, do not admit liability without reference to us or your insurer to agree an appropriate course of action.
(a) How We Handle Your (Client) Money
We are governed by strict rules regulating client money set down by the FCA. Monies paid by you to us, or received by us to be paid to you, will be held in statutory trust bank accounts. Where we hold monies in statutory trust bank accounts we may earn interest on monies held which will be retained by us.
Client Money (Statutory Trust)
This means that client money is held separately from our own money in accounts with an approved bank and designated as statutory trust accounts. We act as trustees of client money and must meet certain legal and regulatory conditions. We are not permitted to, and do not, use client money balances to provide credit for other clients or potential clients.
The majority of client money held by us is held as agent of insurers. This means that premiums are treated as being received by insurers when received in our bank account and that any claims money or premium refund is treated as received by you when it is actually paid over to you. Advise us if you wish know whether your premium will be held by us as agent of an insurer.
(b) Payments to Third Parties
We may transfer client money to another person, such as another broker or settlement agent, for the purposes of effecting a transaction on your behalf.
On occasions, client money may be passed to organisations outside the UK. The legal and regulatory regime applying outside the UK may be different from that of the UK and, in the event of failure of a third party outside the UK, this money may be treated in a different manner from that which would apply if the money were held by a third party organisation in the UK. You may notify us if you do not wish your money to be passed to a party in a particular jurisdiction.
(c) Payment Of Premiums
Premiums must be paid by the payment due date stated on our invoice, failure to do so may invalidate cover and entitle insurers to cancel the policy. If the premium remains outstanding after the payment due date, we reserve the right to charge interest at Virgin Money base rate plus 3%. We are under no obligation to pay the premium to the insurer on your behalf.
Some insurers impose a condition which requires payment by a specific date. In this situation, we must receive cleared funds no later than 7 days prior to the payment due date to ensure cover remains in force. Failure to comply will result in cessation of policy cover.
Consumer credit; where required our service to you also includes arranging credit to enable the costs of insurance premiums to be spread. If you do wish to pay your insurance premiums using an insurer instalment or a premium finance house facility, you must notify us of your intention prior to the date of commencement of cover and complete any documentation necessary as soon as reasonably practicable. Details regarding the applicable terms and conditions together with the charges will be provided by us and the credit provider.
(d) Premium Payment By Continuing Instalments
Where payment for the policy is by regular instalment, for example by direct debit, which is not restricted to a single insurance period, you give your consent to the policy being automatically renewed, without further reference to you, at the renewal date. This means that insurance will continue to be provided to you and you will be obliged to pay for such insurance, unless you specifically contact us before the renewal date to notify us that it is no longer required.
(e) Money Laundering / Proceeds Of Crime Act
UK Money Laundering regulations require us to obtain evidence of the identity of clients for whom we act at the start of a business relationship. Documentary evidence may be requested.
(f) Insurer Solvency
We take all reasonable steps to place your insurance with an insurer capable of meeting its future liabilities. However, we cannot guarantee the solvency of any insurer or be held responsible for any additional costs that may be incurred in replacing cover with an alternative insurer.
Information provided to us by you will remain confidential and be used for the purpose of providing insurance broking services to you, or to others where we are required to fulfil a regulatory or legal obligation and as set out in our Privacy and Fair Processing Policy. This means that your personal information will be used to process your policy, understand your needs and improve our services. It may be shared with third parties where required to do so for us to provide our services to you, or where we have appointed third parties to manage our business.
In your dealings with us you may provide us with information that may include data that is known as personal data. Where we process personal data, we comply with statutory data processing requirements as set out by the Data Protection Act 2018. The personal data we will collect may include information relating to your name, address, date of birth, health or criminal offences. In processing personal data for insurance purposes about health or criminal offences, we will only do so to enable us to provide our service to you and on the basis of it being in the public interest.
The Data Protection Act 2018 provides you with access rights that allow you to gain an understanding on the data being processed, who we share it with, for what purpose, why we need to retain it and retention periods, to object to the processing and to place restrictions on the processing, to request copies of your data and to request the deletion of your data. Contact us if you require further information on how we process your data or you wish to exercise your rights. How we process your personal data is detailed further within our Privacy & Fair Processing Policy, which can be accessed via our website at www.phl-ib.co.uk or a paper copy can be provided on request.
Nothing in the agreement overrides our duty to place the interests of our client before all other considerations nor shall this agreement override any statutory legislative or regulatory requirements (whether obligatory or advisory) which may apply to us.
Information provided to you by us by way of reports and publications constitutes confidential and proprietary information belonging to us and may only be disclosed and/or used in accordance with permission granted by us. Any other disclosure and/or use is strictly prohibited and we reserve the rights amongst others, to take such action as is necessary to protect our confidential and proprietary information.
Please note that English Law recognises the existence of an implied contract of insurance permitting insurers to inspect certain documents which we hold as your broker. Some insurers have slightly wider access than others. You should be aware that the right to inspect does not depend on your prior consent having been given.
Depending on the circumstances of the insurance contract, we may need to transfer data outside of the jurisdiction of the European Economic Area. Your personal information may also be used for crime prevention.
(a) Complaints
We are committed to providing a quality service at all times. If something goes wrong we need you to tell us about it. This will help us to improve our service and standards.
Should you have any reason whatsoever to be unhappy then raise your concerns with the individual who has been dealing with the matter or their manager. If there is continuing cause for dissatisfaction, you should write to the Compliance Director or email us at hello@phl-ib.co.uk.
If the matter is resolved within 3 business days, we will write to you to confirm this. If it cannot be resolved within this time, we will seek to resolve the matter as quickly as possible and keep you informed of progress. If we cannot agree a solution between us, we will explain why. We will confirm our final response to any complaint within eight weeks of your complaint.
If you are:
a private individual; or an enterprise which:
You may be entitled to refer your complaint to the Financial Ombudsman Service, Exchange Tower, London E14 9SR, telephone 0300 123 9123, fax 0207 964 1001, website www.financial-ombudsman.org.uk.
If you have a complaint against your insurer, your policy documentation will set out the procedure that you should follow. We will assist you if required.
(b) Commendations
It is very helpful if you tell us about any aspect of our service that you are particularly satisfied with or any of our employees that you feel should be specially commended. Such commendations are recorded, monitored, recognised and used for training purposes.
Our services may be terminated by either party by giving 6 weeks’ notice in writing to the other or as otherwise agreed. Except that failure to pay our fee invoice within the period stated will be deemed a material breach of this agreement and entitles us, with written notice to you, to terminate this agreement immediately and therefore our services.
Where permissible, we shall continue to perform our obligations in accordance with the terms of this Agreement during the notice period unless otherwise agreed with you and provide all reasonable assistance to facilitate an orderly transfer of your insurances to another insurance provider. Notice of termination of our services does not affect your insurance contract(s) with insurer(s) including its expiry or renewal date.
In the event our services are terminated by you, we will be entitled to receive any and all fees (including fees agreed in a long term agreement) or brokerage payable (whether or not the same have been received by us) in relation to all policies placed or due to be placed by us. Where a fee has not been agreed for services rendered before the insurance starts or to be rendered during the notice period, a pro rata amount of the previous year’s fee shall apply.
In the event that we no longer place insurances for you and if we continue to handle your claims we may seek to agree a fee prior to undertaking any future work.
Such termination shall be without prejudice to the accrued rights and liabilities and other remedies of either party.
*PlastikCity Ltd is an Introducer Appointed Representative of PHL Insurance Brokers Limited who are authorised and regulated by the Financial Conduct Authority to carry out insurance distribution activities (FCA No. 301732)
*PlastikCity Insurance policies are arranged and administered by PHL Insurance Brokers Limited
*PlastikCity Insurance is a trading name of PHL Insurance Brokers Limited who are the dedicated Insurance Broking partner of PlastikCity Ltd.
PHL Insurance Brokers Limited is registered in England and Wales. Registered number: 04851564
Registered address: Suite 402, 4th Floor, 20 Aldermanbury, London, EC2V 7HY.
Copyright © PlastikCity Ltd 2024