ACM Broking Terms of Business

  1. Definitions
    a) "We/us/our" means ACM Broking Ltd of Building Research Establishment, Bucknalls Lane, Watford, Herts, WD25 9XX.

    b) "FSA" means the Financial Services Authority of 25 The North Colonnade, Canary Wharf, London, E14 5HS.

  2. Regulation
    ACM Broking Ltd is authorised and regulated by the FSA. Our FSA Register number is 300686 Our permitted business is Independent Insurance Intermediary. You can check this on the FSA's Register by visiting the FSA's website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.
  3. Our Service
    We are an Independent Insurance Intermediary and offer products from a range of leading Insurers. Our service includes advising and making recommendations for you after we have assessed your needs. We can also issue policies on behalf of certain Insurers. We act on your behalf in arranging your insurance.
  4. Charges
    We reserve the right to make charges in addition to any insurance premiums, for the arranging, amending, renewal, and cancellation of any policy of Insurance. The specific charge and purpose of any additional charges will always be advised to you in advance.
  5. Complaints
    If you wish to register a complaint please contact us in writing addressed to Mr Stuart Anderson, Managing Director, ACM Broking Ltd, address as above, or by telephone on 01923 894360. Your complaint will be acknowledged within 5 working days. Should the matter require lengthy investigation you will receive a written response within 20 days and a final response within 40 days. If you are not satisfied with the outcome you may be entitled to refer it to the Financial Ombudsman Service. The Insurer also maintains a complaint procedure, details of which are contained in the policy.
  6. Disclosure of Information
    It is your responsibility to provide complete and accurate information to the Insurers when you take out your Insurance policy, throughout the life of your policy and when you renew your Insurance. It is important that you ensure that all statements you make on proposal forms, claim forms and other documents are full and accurate. Please note that if you fail to disclose any material information to your Insurers, this could invalidate your Insurance cover and could mean that part or all of a claim may not be paid. Please do consult us if you are in any doubt.
  7. Documents
    With your consent we reserve the right to retain certificates at this office until all payments due under the policy have been made. Any agreed facilities for payment of premiums by instalments through us will be the subject of a written agreement, which will include authority to retain certificates of Insurance until all payments have been received. By accepting this agreement you agree the delivery of any certificates of Insurance to us shall constitute delivery to yourselves in accordance with statute law. Should we withhold any documents we will ensure you receive full details of the insurance cover.
  8. Confidentiality
    Unless required by law, public interest, virtue of our being members of the FSA or you give your consent all information you supply will be kept confidential to us and the Insurers with whom the policy is placed.
  9. Professional Indemnity
    We conform to the FSA code in respect of Professional Indemnity Insurance.
  10. 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 issued that is the basis of the Insurance contract you have purchased.
  11. Claims
    If there is occasion to claim on the policy you must notify us immediately. We will promptly advise you, and if appropriate, issue a claim form and pass details to your Insurer. You should not admit liability or agree any course of action, other than emergency measures, until you have agreement from the Insurers.
  12. Quotations
    Unless otherwise agreed Quotations will be valid for a period of thirty (30) days from the date provided.
  13. Notice
    Insurers pass information to the Claims and Underwriting Exchange run by Insurance Database Services Ltd and the Motor Insurance Anti-Fraud and Theft Register run by the Association of British Insurers.
  14. Financial Services Compensation Scheme
    We are covered by the 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. For compulsory classes of insurance advising and arranging is covered for 100% of the claim, without any upper limit. Further information about compensation scheme arrangements are available from FSCS.
  15. Cancellation Rights
    A retail customer has the right to cancel a policy, in writing, within 14 days of receipt of the policy documents or contractual terms and conditions, and sent to ACM Broking Ltd by first class post, fax or e-mail. The Insurer will refund any monies already paid no later than 30 days after the date on which it received the cancellation notification, less any reasonable fee for services/cover provided.
  16. Payment
    Unless otherwise agreed you will make full payment within seven (7) days of policy inception or twenty one (21) days for all other transactions.
  17. Client Money
     "Client Money" is money held by us on behalf of our clients. We hold client money in a non-statutory account. We also keep client money separate from our own money.
  18. Documentation
    Any bespoke documentation issued by ACM Broking Ltd is a snapshot/ summary and shall not be deemed to replace the full policy wording issued by the Insurers.
  19. Sums Insured/Declarations
    It is your responsibility to ensure that your sums insured are accurate and correct. Under the terms of your insurance policy, insurers are able to reduce or even refuse to meet a claim payment where it is discovered that sums insured declared to them are inadequate. Similarly, insurers may also be able to avoid policies where declarations submitted are inaccurate. We are unable to accept any liability arising from the inadequacy of your sums insured or as a result of any financial information that you have provided.
  20. Assignment of Claims
    In the event that nay of the conditions of this agreement are breached, you, hereby agree that any claims payments or return premiums due from insurers may be assigned to ACM Broking Ltd to offset any shortfall on your account.