Best2Insure
Terms Of BusinessEASY TRAVEL & TOURS LTD T/A BEST2INSURE
TERMS OF BUSINESS AGREEMENT
Our Role, Services and Regulations
Best2Insure is a trading Name of Easy Travel & Tours Limited. We are an Independent Insurance Broker who acts as your agent in arranging and providing you non-investment general insurance policies. Our permitted business includes advising, arranging, dealing and assisting with the placing and administration of all types of non-investment general insurance products.
Best2Insure use facilities provided by insurance companies and Lloyds Syndicates alike. We are member of the British Insurance Broker Institute (BIBA) and are authorised & regulated by the Financial Conduct Authority (FCA). Best2Insure FCA Registration No. 487912, our details can be checked on the FCA website at https://register.fca.org.uk.
Our Charges and Remuneration
Insurers
Whilst we take every care to check the financial stability of any firm with which we place business, we cannot be held responsible if that firm subsequently ceases to trade.
Commission
When we arrange a policy with an insurer on your behalf, We may receive commission from the insurer which is a percentage of the total annual premium. Any commission is considered to be fully earned when your insurance(s incepts. We will tell you in writing (where applicable, upon request) whether we receive such a commission or any other remuneration, including indirect remuneration (and including the source of such remuneration) for arranging your insurance or providing you with any other services.
Treating Customers Fairly
We set high standards for ourselves and it is our intention to treat customers fairly at all times. We have appointed Mr T Shabbir to oversee TCF within this firm. If at any time you feel that you have not been treated fairly please contact us in order that the matter may be addressed.
Fees
We may negotiate a fee with you for our services; however you will not incur a liability to pay a fee unless we have given you prior notice of this. Where we are not able to supply you with the actual fee, we will supply you with the basis of calculation of any such fee. We may charge a fee in addition to any commission we are paid by an insurer, and if this is the case, we will inform you. We will also advise you in advance in the event third party providers that we use to arrange your insurances charge a fee. Any fee is considered to be fully earned when Your insurance(s) incepts.
We will inform you separately of any administration fees that may apply to your policy. In the event of policy cancellation, any cancellation fee may be deducted from any refund of premium due to you. Subject to your policy terms and conditions, no refund will be issued in the event of a policy cancellation if a valid claim has been made (or is intended to be made) or a circumstance has been notified under that policy. We reserve the right to deduct any unpaid premium from any claim settlement.
New Business or Renewal – up to 10% of premium
Mid Term Adjustments – £25.00
Duplicate Documents – £25.00
Cancellation – up to 10% of premium
Confidentiality
All personal information about you will be treated as private and confidential. We are registered under the Data Protection Act 1998 and we undertake to comply with the Act in all our dealings with your personal data. Your personal information will be kept secure.
Other Income
In addition to commission, fees and administration fees, We may receive other income from insurers or third parties, including but not limited to additional payments from insurers based upon pre-agreed criteria.
For arranging premium instalment facilities, we earn a variable amount of commission from our premium finance provider which is usually a percentage of the interest that you pay. This means that the amount you pay for credit and the overall cost of arranging your insurance will vary according to the interest charged by the lender and the amount of commission we earn. There may be occasions where there is a choice of instalment payment options which may charge different interest rates. Typically, if your policy is paid via a direct debit instalment arrangement directly with the insurer, we will not receive any additional payments outside of the commission/fees earned for arranging your policy.
Cancellations
If you decide not to accept a new policy or renewal, all documents must be returned to our office within FOURTEEN days. A refund will be given to Retail (Consumer) clients provided that you have not made a claim. We reserve the right to charge a fee for the costs incurred in arranging the cover and the subsequent cancellation within the 14 days period. After the 14 days period and for Commercial Customers, the insurer will cancel according to their normal mid-term cancellation policy. A full refund will not be available in this instance. This table is intended as a general guide for refunds.
| Time on Cover |
1 Month |
2 Months |
3 Months |
4 Months |
| Refund | 70% | 60% | 50% | 35% |
| Time on Cover |
5 Months |
6 Months |
7 Months |
8+ Months |
| Refund | 30% | 25% | 10% | 0% |
We do not refund any commission since this was earned in arranging your policy for you. We do not refund instalment charges.
We also reserve this right to cancel should the contract not be honoured through non-payment or misleading information. (Refer to cancellation clauses). If a policy is terminated by you we reserve the right to retain all fees and commissions earned in the arrangement and administration of the policy.
Premiums
We normally accept payment by cheque, BACS or credit card. In order to ensure that cover is affected premiums must be received prior to renewal date or inception of the policy unless otherwise agreed in writing. Failure to meet the payment date may result in insurers cancelling your policy. We are under no obligation to settle premiums to insurers, still outstanding at the payment date, where the premium has not been paid by you.
You may be able to spread your payments through a credit scheme either run by your insurer or by finance provider and we will advise you further if these options are available.
Claims
We will assist you in the reporting and conduct of your claim. All claims must be notified as soon as possible to the insurer via one of their claims lines or to us so that we can inform the insurer. All correspondence regarding a potential claim must be passed on to us or the insurers. Under no circumstances should correspondence with third parties be entered into. A detailed claims procedure is given in every policy booklet in addition to Help Lines. Read this fully.
Failure to Notify incidents in accordance with the Policy Terms & Conditions could invalidate your insurance cover.
Disclosure of Earnings
You are entitled at any time, to request information about earnings that we, or any other intermediary we have used, receive as a result of placing your business. In addition to commission from insurers, we may also receive payments based on volumes of business or profitability of the account placed with them. These payments can vary from year to year. Such remuneration is only earned on the basis that it does not detract from our obligation to act in our client’s best interest at all times.
Client Money
Our Statutory Trust account has been set up in accordance with strict rules laid down by the Financial Conduct Authority. We are the Agent of Insurers for the collection of certain premiums and hold your money on a risk transfer basis. In arranging your insurance we may employ the services of other intermediaries who are Authorised and Regulated by the FCA and your premium may be passed to these intermediaries for payment to insurers. Any interest, or investment returns, earned on your money whilst in our possession will be retained by us.
Complaints
It is our intention to provide you with a highest level of customer service at all times. However if you are unhappy in any way please contact the Principal Mr. T Shabbir at the following address: 57 Whitton Road Hounslow TW3 2DB. All complaints will be acknowledged in five working days. If the matter is not resolved to your satisfaction after eight weeks you can contact Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR.
Quotations & Duties of Disclosure
It is your duty to take reasonable care to answer all questions honestly and to the best of your knowledge. If you do not, your insurance policy may be cancelled or treated as if it never existed or your claim may be rejected or not paid in full. It is important that all statements you make on the proposal forms/claim forms and other documents are full and accurate. If a form is completed on your behalf, you should check that the answers shown to any of the questions are true and accurate before signing the document. Failure to provide requested information to your insurers could invalidate your insurance cover and mean that part or all of a claim may not be paid.
Financial Services Compensation Scheme (FSCS)
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. Full details and further information on the compensation scheme is available from the FSCS.
Disclosure of Material Facts (Commercial Customers)
It is your responsibility to provide complete and accurate information to insurers when you take out your insurance policy, throughout the life of your policy and when you renew your insurance. Failure to disclose any material information to your insurers could invalidate your insurance cover and mean that part or all of a claim may not be paid.
If you are in any doubt as to whether information is material, you should disclose it.
Law/Jurisdiction
This contract will be governed by the laws of the United Kingdom of Great Britain and Northern Ireland unless otherwise stated.
Professional Indemnity
As professional insurance brokers we carry professional indemnity insurance in line with that specified and required by our regulators, the Financial Conduct Authority (FCA).
