Who are we?
Royle Insurance Consultants is a privately owned firm of independent insurance consultants. We carefully consider the products we offer with our customers in mind. We will treat you fairly at all times and will ensure that the information we provide to you is clear and understandable so that you can be confident and comfortable in your dealings with us.
Accepting our Terms of Business
By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business. We draw your particular attention to the section headed ‘Confidentiality & Data Protection’, and specifically the paragraph explaining how ‘sensitive personal data’ will be used. For your own benefit and protection, you should read these terms carefully. If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you, please contact us at the above address.
Who regulates us?
Royle Insurance Consultants is a trading name of Stenfax Ltd which is authorised and regulated by the Financial Services Authority (FSA). Our FSA Register Number is 304469. Our permitted business is advising, arranging, introducing, dealing as agent and assisting in the administration and performance of general insurance contracts. You can check this on the FSA’s register by viewing the FSA website at www.fsa.gov.uk/register/ or by contacting the FSA on 0845 606 1234.
Which service will we provide you with?
Our role is to advise you and, after we have assessed your needs, to make a suitable recommendation. We will ask questions to narrow down the selection of products that we will provide details on for you. We will help you with any subsequent event or alteration for insurance that we have placed on your behalf. In providing our service, we may sometimes act as an agent of the insurer. We will confirm the capacity in which we will act for you before undertaking any relevant transactions on your behalf.
Whose products do we offer?
We deal with a wide range of insurers for the majority of policies that we sell. The table below shows the range from which we select each product type and it covers the majority of products we offer. However, if a product type is not listed in the table, we offer that product from a single insurer. Where we select from a limited range, you may ask us for a list of the insurers we deal with for these products. We will not in any circumstances act as an insurer nor guarantee or warrant the solvency of any insurer.
| Wide Range of insurers. | Limited number of insurers. | Single Insurer |
| Car | Travel | Motor Legal Protection |
| Commercial Vehicle | Holiday Homes | Household Legal Protection |
| Motorcycle | Caravan | Pet |
| Private Household | Collectors Car | |
| Commercial Property | Motor Breakdown | |
| Property Owners | Minibus | |
| Liability | | |
What to do if you have a complaint
It is always our intention to provide you with a first class level of customer service at all times. However, if there are occasions when we do not meet your expectations, please contact our Compliance Officer at 149 Fortess Road, London, NW5 2HR, or by telephone on 020-7267-3534.
1) We will acknowledge in writing, advise who is dealing with the matter and attempt to address this within 5 working days.
2) If our investigation takes longer, we will explain our position and provide timescales for a full response.
3) If you are still not satisfied, you may be entitled to refer the matter to the Financial Ombudsman Service (except businesses employing 10 or more persons and with a turnover or balance sheet total exceeding €2m, charities with an annual income of £1m or more or trustees of a trust with a net asset value under £1m).
When dealing with your complaint, we will follow our complaint handling procedures; a summary of these is available upon request. If you have a complaint against your insurer please refer to the insurers’ policy booklet for details of their complaints procedure. By making a complaint, you do not prejudice your rights to any legal proceedings.
Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we can not meet our 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 (such as Third-Party Motor or Employers Liability), insurance advising and arranging is covered for 100% of the claim, without any upper limit. Further information about the compensation scheme is available from the FSCS on 020-7892-7300 or http:www.fscs.org.uk.
Handling Money
Our financial arrangements with most insurance companies are on a ‘Risk Transfer’ basis. This means that we act as agents of the insurer in collecting premiums and handling refunds due to clients as well as the transfer of claim monies. In these circumstances such monies are deemed to be held by the insurer(s) with which your insurance is arranged. However, if risk transfer does not apply, such monies will be held by us in a Statutory Trust account set up in accordance with FSA rules. Interest earned on monies held in such a Statutory Trust account will be retained by us. For the purpose of some transactions, client money may pass through other authorised intermediaries before being paid to the insurer.
What will you have to pay us for our services?
We will receive a commission from insurers or product providers in respect of each policy we arrange. We will also make a charge for any alteration to your policy such as a change of vehicle, change of address or other alteration. You will receive a quotation which will tell you the total price to be paid, and which identifies any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded. On certain low commission contracts we may add a brokerage charge of up to 20% but we will make you aware of this before proceeding. Details of all commissions received will be disclosed to customers upon request.
Fixed Charges
| Transaction Type | Charge | Comments |
| Quotations/advice | No Charge | |
| Motor Renewal | £7.00 | |
| Home Renewal | £10.00 | |
| Other Renewal | £5.00 | |
| Commercial Renewal | £25.00 | |
| Duplicate documents | £15.00 | |
| Returned cheques | £10.00 | |
| Mid term alterations | £25.00 (+ 10% of the premium refund for alterations resulting in a refund) | |
| Cancellations | £50.00 + 10% of the premium refund | See cancellation section |
Instalment charges
| Payment by 2 instalments | £10.00 extra | 50% followed by balance within 30 days. Payment by post dated cheque or pre-authorised credit/debit card. |
| Payment by 3 instalments | 7 % of premium | 40% deposit followed by 2 instalments 1 month apart. Payment by post dated cheque or pre-authorised credit/debit card. |
| Payment by 4 instalments | 10% of premium | 40% deposit followed by 3 instalments 1 month apart. Payment by post dated cheque or pre-authorised credit/debit card. |
Monthly Direct Debit
Most annual policies can be paid for by direct debit either with the insurer concerned or using our nominated premium finance provider. For full details of the terms and conditions and interest charges please ask. Availability is subject to status and a deposit may be required. Quotations can be given upon request. A consumer credit agreement will be provided by either ourselves or the insurer for you to sign and return to us. This agreement will set out your payment schedule.
Your right to cancel your insurance policy
If you are a consumer of a personal insurance product, you may be entitled to cancel your policy for any reason within 14 days of receiving your full policy terms. We will charge £25.00 to cover our administration costs within this period and your insurer may be entitled to retain a portion of your premium (please check the policy wording). You may not be entitled to a refund of premium if a claim has been made against the policy.
Most policies are an annual contract but if you wish to cancel your policy mid-term you may be due a refund for the remaining part of your premium as long as you have not made a claim during the time you have been on cover. To cancel your policy we require your verbal or written confirmation, and, if a motor insurance policy, you must return your insurance certificate, cover note, or signed lost certificate declaration. Only upon receipt of the aforementioned will your policy be cancelled and we will charge £50.00 plus 10% of the premium refund (please note that there will usually be no refund after cancelling some policies or add-on products e.g. Short Period, Travel, Legal Expenses, Breakdown Cover, etc). If, following cancellation, the refund given by your insurer is not enough to clear your outstanding balance you will have to pay the difference. There is no refund of instalment or administration charges. Please remember that cancelling your direct debit mandate does not constitute cancellation of your policy.
Ending your relationship with us
Subject to your immediate settlement of any outstanding premiums and fees, you may instruct us to stop acting for you and we will not impose a penalty. Your instructions must be given in writing and will take effect from the date of receipt. In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days notice. Unless otherwise agreed in writing, if our relationship ends, any transactions previously initiated will be completed according to these Terms of Business. You will be liable to pay for any transactions concluded prior to the end of our relationship and we will be entitled to retain commission received for conducting these transactions, together with all fees charged by us for services provided.
Disclosure of Information and your responsibilities
You are responsible for providing the complete and accurate information which insurers require in connection with any proposal for insurance cover. This is particularly important before taking out a policy and at renewal, but it also applies throughout the life of a policy. If you fail to disclose information, or misrepresent any fact which may influence the insurer’s decision to accept the risk or the terms offered, this could invalidate the policy and mean that claims may not be paid. You must check all details on any proposal form or Statement of Facts and pay particular attention to any declaration you may be asked to sign.
It is important that you read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply. Particular attention must be paid to any warranties and conditions as failure to comply with them could invalidate your policy.
You must inform us immediately of any changes in circumstances which may affect the services provided by us or the cover provided by your policy.
If you are unsure about any matter, please contact us for guidance.
Awareness of Policy Terms
When a policy is issued you are strongly advised to read carefully as it is that document, the schedule and any certificate of insurance that is the basis of the insurance contract you have purchased. If you are in doubt over any of the policy terms or conditions, please seek our advice promptly. A specimen policy can be issued in advance of cover if requested.
Credit Checks
To ensure that you get the best offers, some insurers may use publicly available data which they obtain from a variety of sources, including a credit reference agency and other external organisations. Their search will appear on your credit report whether or not your application proceeds. As well as these searches, insurance companies may use a credit check to ascertain the most appropriate payment options for you. This credit check will also appear on your credit report whether or not your application proceeds. By agreeing to these terms and conditions you agree to these uses of your information.
If you do not agree to the above stated use of your information, please contact us within the next 14 days either by telephone, email, letter or drop in to see us and let us know that you do not wish for a credit check to be conducted. We will, of course, continue to offer you the best available options but will exclude any insurers that carry out credit checks.
Implications of the credit check
As the credit checks relate to insurance propositions, they are highly unlikely to impact upon lending decisions but the public and private data checks both leave a footprint on your credit history. The public check is only visible to you whereas the private data check is also available to other organisations.
Credit checks are already widely used within the insurance industry eg; by RSA Group including Morethan; RBS Group including Direct Line, Privilege and Churchill; Admiral group including Diamond and Elephant and also by online price comparison websites.
Confidentiality & Data Protection
We will process any personal information we obtain in the course of providing our services to you in accordance with the Data Protection Act 1998. In administering your insurances it will be necessary for us to pass such information to insurers and other product or service providers which may also provide us with business and compliance support.
We may also disclose details to relevant parties, as necessary, to comply with regulatory or legal requirements. Insurers pass information and claims details to the Claims and Underwriting Exchange run by Database Services Ltd. Motor Insurers are also legally required to add your insurance details to the Motor Insurance Database (MID). The aim is to check information provided and also prevent fraudulent claims.
Some of the details you may be asked to give us, such as information about offences or medical conditions, are defined by the Act as sensitive personal data. By giving us such information you signify your consent to its being processed by us in arranging and administering your insurances. Subject to certain exceptions, you will be entitled to have access to your personal and sensitive personal data. If at any time you wish us, or any company associated with us, to cease processing any of the personal data or sensitive personal data we hold, please write to the manager at the address shown above.
Please note that any information no longer required is securely cross-shredded for your added security.
Conflict of interests
Occasions can arise where we or one of our clients or product providers may have a potential conflict of interest with business being transacted for you. If this happens, and we become aware that a potential conflict exists, we will write to you and obtain your consent before we carry out your instructions and we will detail the steps we will take to ensure fair treatment.
Claims
In the event of an incident which may give rise to a claim under your policy, you must notify us immediately. You may, of course, advise your insurer direct. We will advise you of your insurers’ requirements concerning claims, including the provision, as soon as possible, of information required to establish the nature and extent of a loss. You should not admit liability or agree to any course of action; other than emergency measures carried out to minimize the loss, until you have agreement from your insurer. We will employ due care and skill if we act on your behalf in respect of a claim.