Terms of Business (BuildServe Business Services Ltd)

Our Services

This Terms of Business document only covers the services provided by BuildServe Business Services Ltd. It does not cover other non-insurance services provided by other BuildServe related businesses.

BuildServe Business Services Ltd. is an Appointed Representative of Sennocke International Insurance Services Ltd who are authorised and regulated by the Financial Conduct Authority. Build-Zone is a trading style of Sennocke International Insurance Services Ltd. BuildServe Business Services Ltd. provide a range of construction related insurance products. We act on your behalf and our services include; advising you on your insurance requirements; providing ongoing assistance to help you with any changes you may have to make and assisting you should you need to make a claim.

Arranging Cover

Upon receipt of your instructions, whether written or oral, we will refer your enquiry to Sennocke International Insurance Services Ltd. who will conduct negotiations on your behalf with insurers. They will conduct a market analysis taking into account premium, coverage, and insurer financial soundness before making recommendations to you (we cannot guarantee the future financial soundness of any Insurance Company and our recommendations are based on the information to hand at the time). During the course of our negotiations, we will keep you informed of our progress and advise of any requirements we are unable to fulfil. Insurers can from time to time grant Sennocke International Insurance Services Ltd. binding authority agreement, or similar facility, allowing them to accept business on the insurers behalf. Such facilities can assist in the prompt and efficient placement of risk.

 

Servicing

We will write to you with full details of our proposals, outlining the cover to be provided, the insurer accepting the risk and details of the premium to be charged. You will be advised when and how payments should be made and be given details of any penalties which will be applied for late payment. Policy documentation will be issued to you as soon as possible once cover has been arranged and payment received.

 

Claim Handling

In the event that you need to make a claim we will advise you of the action you need to take. We will notify the claim to insurers, negotiate where appropriate with insurers and loss adjusters on your behalf and assist in resolving the claim in accordance with market practice and the policy terms and conditions.

 

Your Commitment

You are required to provide complete and accurate information to insurers when you take out your insurance policy. Failure to disclose facts material to the risk involved could invalidate your insurance cover and could mean that part or all of a claim may not be paid. There is no duty on insurers to make enquiries of you. You are required to notify us of any changes in your business or personal circumstances during the cover term, which may affect the cover and services provided by us or the cover provided under your insurance policy.

You are required to ensure that the terms of the cover presented to you accurately reflect the cover, conditions, limits, and other terms that you require.

You are required to settle premiums due in accordance with our and/or Sennocke International Insurance Ltd.’s payment terms. For clients with credit arrangements our normal terms are 30 days from date of invoice, any variations will have been agreed in writing. For all other clients settlement is due by the date of inception of the policy. Failure to observe these terms may invalidate your cover. We normally accept payment by guaranteed cheque. You may be able to spread your payments through insurers instalment schemes or credit schemes that we may arrange. Full details of the options available to you will be provided before cover is taken out.

To ensure full protection, you are required to notify us of any circumstance giving rise to a claim; which may give rise to a claim, or a claim. You should familiarise yourself with the claims procedures and terms as detailed in the Policy Document.

 

Confidentiality

Any information in our possession relating to you or your business is confidential. However, it will be necessary to disclose information which is material to the risk being insured to Sennocke International Insurance Ltd. and other insurers. Any sensitive information will be handled appropriately. Under the terms of the Data Protection Act 1998, you are entitled to see any personal information that we hold on our records.

All activities undertaken by us are for your exclusive use and all reports, recommendations, proposals, data or other information provided by use are for your sole use and you agree not to divulge such information to a third party without our written permission.

 

Remuneration

Our remuneration will be either a fee, as agreed with you, or commission which is calculated as a percentage of the premium paid by you and given to us by the insurer with whom the insurance is placed, or where legal and appropriate a combination of both. The basis upon which we are remunerated will be agreed with you prior to cover being arranged. Brokerage and fees are earned for the policy period and we are entitled to retain such brokerage and fees in respect of policies placed by us for the full policy period.

 

Protection

Professional Indemnity cover is maintained as required by the Regulator governing our business activities.

 

Complaints

It is our intention to provide you with a high level of service at all times but if you should wish to complain then we have a formal complaints procedure. In the first instance, you should write to the Managing Director, whose address is: 27 Old Gloucester Street, London, United Kingdom, Telephone: +44 (0) 7724 530399. You may be entitled to refer it to the Financial Ombudsman Service. Further information is available at: http://www.financial-ombudsman.org.uk/
​Should you remain dissatisfied with the response that you receive from us, you may if you wish, refer your complaint to our Principal Firm, Sennocke International Insurance Ltd. You should write to the Managing Director, whose address is: 6 Pembroke Road, Sevenoaks, Kent, TN13 1XR. Telephone: +44 (0) 1732 742102. You may be entitled to refer it to the Financial Ombudsman Service. Further information is available at: http://www.financial-ombudsman.org.uk/

Should you remain dissatisfied with the response that you receive from Sennocke International Insurance Ltd., you may if you wish, refer your complaint to Lloyd’s.

Lloyd’s will investigate the matter and provide a final response. Lloyd’s contact details are as follows:

Complaints

Lloyd’s

One Lime Street

London EC3M 7HA

Email:  complaints@lloyds.com

Telephone: +44 (0)20 7327 5693

Fax: +44 (0)20 7327 5225

Website: www.lloyds.com/complaints

Ultimately, should you remain dissatisfied with Lloyd’s final response, you may, if eligible, refer your complaint to the Financial Ombudsman Service (FOS). The Financial Ombudsman Service is an independent service in the UK for settling disputes between consumers and businesses providing financial services.

The FOS’s contact details are as follows:

Financial Ombudsman Service

Exchange Tower

London

E14 9SR

Email: complaint.info@financial-ombudsman.org.uk

Telephone: +44 (0)300 123 9 123

Website: www.financial-ombudsman.org.uk

 

Termination

Our services may be terminated without cause or penalty by either of us, giving one months notice to the other, or as agreed. In the event of your terminating our services, we will retain any brokerage/ fees paid to us. We have no obligation to perform any further services to you from the date of termination. Any claims reported after the date of termination will be the responsibility of the party taking over our role.

Our services and Terms of Business provided are governed and construed in accordance with English Law, which may change from time to time.

 

YOU ARE DEEMED TO HAVE ACCEPTED THESE TERMS OF BUSINESS UNLESS YOU ADVISE US OTHERWISE WITHIN 7 DAYS OF RECEIPT.

Our services

This Terms of Business document covers the services provided by BuildServe Business Services Limited. BuildServe Business Services Limited. is an Appointed Representative of Sennocke International Insurance Services Limited. Our firm reference number is 779579. Sennocke International Insurance Services Limited. are authorised and regulated by the Financial Conduct Authority and regulated by the Central Bank of Ireland for business of conduct rules. We are permitted to arrange, advise on, deal as an agent of insurers, assist in claims handling with respect to non-investment insurance policies. You can check this on the FCA’s Register by visiting the website www.fca.org.uk/register or by contacting the FCA on +44 (0) 207 066 1000.

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Adequacy of insurance values

It is the responsibility of the insured to ensure that all sums insured and policy limits are adequate. Whilst we seek to assist in establishing and maintaining insured values and indemnity limits we cannot accept responsibility for their accuracy. It is strongly recommended that the appropriate Professional (e.g. Surveyor/Accountant) be consulted to ensure that the sums insured and limits under the policy are suitable.

 

Arranging cover

Upon receipt of your instructions, whether written or oral, we will refer your enquiry to Sennocke International Insurance Services Limited. who will develop a quotation for cover on your behalf. They will conduct an analysis of your requirements before providing a quotation (we cannot guarantee the future financial soundness of any Insurance Company and recommendations are based on the information to hand at the time). During the course of the quotation process, we will keep you informed of progress and advise of any requirements we are unable to fulfil. Insurers can from time to time grant Sennocke International Insurance Services Limited binding authority agreement, or similar facility, allowing them to accept business on the insurers behalf. Such facilities can assist in the prompt and efficient placement of risk. Products offered to you from BuildZone and Self-Build Zone are arranged on such facilities.

 

Block transfers

In respect of some classes of insurance we may operate block insurance arrangements in order to provide competitive terms. This is where we place all insurances of a certain type with one insurer who can provide particularly competitive terms for all our customers. On occasions it will be necessary for us to transfer such blocks from one insurer to another where this is beneficial for our clients. This Terms of Business Agreement constitutes both your acceptance that we may do this and your prior request for us so to do.

 

Bribery and corruption

It is our intention to meet the requirements of the Bribery Act 2010. If, at any time, you feel that we have not acted in a way that meets the requirements of the Bribery Act 2010 you should contact us immediately.

 

Claim handling

In the event that you need to make a claim we will advise you of the action you need to take. We will notify the claim to insurers, negotiate where appropriate with insurers and loss adjusters on your behalf and assist in resolving the claim in accordance with market practice and the policy terms and conditions.

 

Compensation arrangements

We are covered by the Financial Services Compensation Scheme. You may be entitled to compensation from the scheme if the insurer cannot meet their obligations. This depends on the type of business and the circumstances of the claim.  Insurance advising and arranging is covered for 90% of the claim, without any upper limit.  For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, also without any upper limit. The compensation scheme does not apply to consumer credit. Further information about compensation scheme arrangements is available from the FSCS on +44 (0) 20 7741 4100 or by visiting http://www.fscs.org.uk/

 

Complaints

It is our intention to provide you with a high level of service at all times but if you should wish to complain then we have a formal complaints procedure. In the first instance, you should write to the Managing Director, BuildServe Business Services Limited, whose address is: 27 Old Gloucester Street, London, United Kingdom, Telephone: +44 (0) 77 2453 0399. Should you remain dissatisfied with the response that you receive from us, you may if you wish, refer your complaint to our Principal Firm, Sennocke International Insurance Services Limited. You should write to the Managing Director, Sennocke International Insurance Services Limited whose address is: 6 Pembroke Road, Sevenoaks, Kent, TN13 1XR. Telephone: +44 (0) 17 3274 2102.

 

If your policy is underwritten at Lloyds you may if you wish, refer your complaint to Lloyd’s. Lloyd’s will investigate the matter and provide a final response. Lloyd’s contact details are as follows:

 

Postal: Complaints, Lloyd’s, One Lime Street, London EC3M 7HA

Telephone: +44 (0) 20 7327 5693

Website: www.lloyds.com/complaints

 

You may be entitled to refer the matter subsequently to the Financial Ombudsman Service. You can contact the Financial Ombudsman Service by telephone on +44 (0) 30 0123 9123 and further information is available at http://www.financial-ombudsman.org.uk/. If you do decide to refer any matter to the Financial Ombudsman Service your legal rights will not be affected.

 

Confidentiality

All activities undertaken by us are for your exclusive use and all reports, recommendations, proposals, data, or other information provided by use are for your sole use and you agree not to divulge such information to a third party without our written permission.

 

Conflicts of interest

As insurance brokers we generally act as your agent in advising you, arranging your insurance and assisting you in the event of a claim. In certain circumstances we may act for and owe duties of care to insurers and/or other parties. Where we become aware of any actual or potential conflict of interest, we will inform you of the situation, the options available to you and obtain your consent before we proceed.

 

Credit searches

We may share your information with and obtain information about you from credit reference agencies.  If you require information about the credit reference agency we have received information from or the credit reference agencies we have approached please do not hesitate to contact us.  Please note that any searches undertaken prior to you proceeding with your application will be soft searches and will not affect your credit rating.

 

Default on payments by clients

Our firm will exercise its legal rights to receive payments due to it from clients (fees and insurance premiums) for services provided. In particular, without limitation of the generality of the foregoing, the firm will seek reimbursement for all payments made to insurers on behalf of clients where the firm has acted in good faith in renewing a policy of insurance for the client. Product producers may withdraw benefits or cover in the event of default on payments due under policies of insurance or other products arranged for you. We would refer you to policy documents or product terms for the details of such provisions.

 

Governing Law

These Terms of Business shall be governed by and construed in accordance with English Law and shall be subject to the exclusive jurisdiction of the courts of England and Wales.

 

How to cancel

Please contact us immediately if you wish to cancel any insurance policy we have arranged for you. You may have a right to cancel a policy without penalty within the first 14 days (or, in some cases, longer).  Please refer to your policy summary or your policy document for further details.  If you cancel within this initial cancellation period (where this applies) you will receive a pro rata refund of premium from the insurer. However, insurers are entitled to make an administrative charge.  In addition, we may charge an amount which reflects the administrative costs of arranging and cancelling the policy.  Details of the amount we charge are given in our tariff of administration charges.

 

How to claim

Please refer to your policy summary or your policy document if you need to notify a claim. You should contact us or the insurer direct as soon as you become aware of any incident which could give rise to a claim. If in doubt about whom you should contact, or if you require our assistance in relation to a claim or potential claim please contact us.

 

Insurer security

The insurers we use are regulated and are required to have adequate capital resources. However, we cannot guarantee the solvency of any insurer we place business with. An insolvent insurer may be unable to pay claims or may be unable to pay them in full and you may have to pay a further premium to pay for alternative insurance cover.

 

Money laundering/proceeds of crime 

In order to comply with the Proceeds of Crime Act 2002 (Part 7: Money Laundering) and Money Laundering regulations 2003, we will not accept cash payments in excess of £2,500 for premiums due. We are obliged to report to the National Crime Agency any suspicion of money laundering or terrorist financing activity and we are prohibited from disclosing any such report.

 

Protecting your information

All personal information about you will be treated as private and confidential (even when you are no longer a customer) except where the disclosure is made at your request or with your consent or where we are required by law to disclose it. We will use your information in relation to setting up and administering your insurance and any related credit arrangements. Some or all of the information you supply to us in connection with your insurance proposal or application for credit may be passed to insurance and other companies for underwriting, claims and premium collection purposes.

 

Your data will be held in accordance with the Data Protection Act 1998, under which you have a right of access to see personal information about you that is held in our records, whether electronically or manually. If you have any queries, please contact us. We and/or the insurers and/or credit providers may use publicly available data from a variety of sources, including credit reference agencies and other external organisations to verify your identity or creditworthiness, to avoid fraud, and to obtain beneficial quotes and payment options on your behalf. Each of the searches may appear on your credit report whether or not your application proceeds.

 

By accepting these terms and conditions you agree to these uses of your information.

 

Protecting your money

Our Statutory Trust Client account has been set up in accordance with strict rules laid down by the Financial Conduct Authority. Prior to your premium being forwarded to the insurer (or forwarded to you in the event of a premium refund) we generally hold your money as an agent of the insurer with which we arrange your insurance. Where we hold premium as the agent of the insurer it is regarded as received by the insurer. If we are not acting as an agent of the insurer when we receive your premium, we shall hold it as client money in trust for you within a client bank account with an approved bank.

 

Our client bank account(s) may contain other clients’ money and money we hold as an agent of insurers. In line with strict FCA rules, our client bank account(s) is/are rigorously monitored in order to segregate and safeguard client money. We reserve the right to retain interest earned on our client bank accounts. We may transfer your premiums to the insurer through another party, such as a

 

broker or underwriting agent for the purposes of effecting a transaction. By accepting this Terms of Business Agreement, you are giving your consent for us to treat your money in this way. Please notify us immediately if you have any objection or query.

 

Professional Indemnity cover

Professional Indemnity cover is maintained as required by the Regulator governing our business activities.

 

Remuneration

Our remuneration will be either a fee, as agreed with you, or commission which is calculated as a percentage of the premium paid by you and given to us by the insurer with whom the insurance is placed, or where legal and appropriate a combination of both.  The basis upon which we are remunerated will be agreed with you prior to cover being arranged.  Brokerage and fees are earned for the policy period and we are entitled to retain such brokerage and fees in respect of policies placed by us for the full policy period.  Any fee will be agreed with you first.  We do not charge additional fees for mid-term policy adjustments. You are entitled, at any time, to request information regarding any commission which we may have received as a result of placing your insurance business.

 

Servicing

We will write to you with full details of our proposals, outlining the cover to be provided, the insurer accepting the risk and details of the premium to be charged.  You will be advised when and how payments should be made and be given details of any penalties which will be applied for late payment.  Policy documentation will be issued to you as soon as possible once cover has been arranged and payment received.

 

Termination

We may terminate authority to act in connection with your insurance arrangements at any time. Notice of termination must be given in writing and will be without prejudice to the completion of any transactions already commenced. Any business currently in progress will be completed unless we receive instructions to the contrary. Any premiums or fees outstanding will become payable immediately. In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days’ notice.  Any claims reported after the date of termination will be the responsibility of the party taking over our role.

 

Treating Customers Fairly

We set high standards for ourselves and it is our intention to treat customers fairly at all times. If at any time you feel that you have not been treated fairly please contact us in order that the matter may be addressed.

 

 

 

Your Commitment

 

Consumers: You must take reasonable care not to make a misrepresentation to the insurer. This means that all the answers you give and statements you make as part of your insurance application, including at renewal and when an amendment to your policy is required, should be honest and accurate. If you deliberately or carelessly misinform the insurers, this could mean that part of or all of a claim may not be paid.

 

Commercial customers: [For insurances subject to The Insurance Act 2015, effective from 20 August 2016]: Where we arrange insurance wholly or mainly for purposes related to your trade, business or profession, you have a duty under The Insurance Act 2015 to make a fair presentation of the risk. This means that you must disclose every material circumstance which you and/or your senior management and/or anyone responsible for arranging your insurance know or ought to know. Alternatively, you must disclose sufficient information which would put the insurer on notice that it needs to make further enquiries for the purpose of revealing those material circumstances.  You are expected to carry out a reasonable search in order to make a fair presentation of the risk and will be deemed to know what should reasonably have been revealed by the search.

 

Your duty of fair presentation applies at proposal stage, the start of the policy, at renewal and when any variation of the policy is arranged. If you fail to make a fair presentation, the insurer may refuse to pay your claim or reduce the settlement amount, depending on the circumstances.

 

You are required to settle premiums due in accordance with our payment terms. which are outlined in the quotation. Failure to observe these terms may invalidate your cover. We accept payment by guaranteed cheque, cash (not exceeding £2,500) or electronically bank transfers. Full details of the options available to you will be provided before cover is taken out.

 

To ensure full protection, you are required to notify us of any circumstance giving rise to a claim; which may give rise to a claim, or a claim.  You should familiarise yourself with the claims procedures and terms as detailed in the Policy Document.

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