Management Liability Portfolio Charities, Clubs & Associations

Transcription

1 Management Liability Portfolio Charities, Clubs & Associations Contents Application form Acceptance form A summary of cover Our range of services A statement of demands and needs Our terms of business agreement How to proceed Please ensure that you read this document thoroughly. Should you wish to proceed with the insurance, please select the level of cover required from the application form and complete acceptance form. Premium finance Epic financial risks offer an interest free premium payment plan from the specialist premium finance lender Premium Credit Ltd. This is a loan which enables you to spread the cost across regular instalments. EPIC only have payment facilities with one provider of premium finance. A detailed quotation can be provided upon request but the facility enables the total premium to be paid by 12 equal payments at a representative APR of 0% Should you opt to pay for your insurance by premium finance, a schedule of payments and full terms and conditions will be sent to you for agreement before the loan commences. Please be aware that as a condition of the agreement you assign all rights, title and interest to any policy financed through the above arrangement to Premium Credit Limited, along with any sums payable to you by virtue of that policy. What to do next All completed forms should be signed and returned to the address below. Alternatively, scan and send your completed form to enquiry.professions@bluefingroup.co.uk. Bluefin Professions Castlemead Lower Castle Street Bristol BS1 3AG Cover will only commence once the enclosed declaration form and payment have been received, accepted and acknowledged by Bluefin. Bluefin Professions is a trading name of Bluefin Insurance Services Limited. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No: Authorised and regulated by the Financial Conduct Authority. Epic MLP Quote Pack for Charities 2018 v1.0

2 A copy of this application pack should be retained for your insurance records. A copy of your policy wording can be downloaded from our website at the following address: Cover will be provided via Epic financial risks who offer a number of additional benefits to your policy including: Interest free instalments Free legal and tax advice helplines Free health, medical and counselling advice helplines We would also take this opportunity to remind you that you are responsible, on an ongoing basis, for providing us with all material facts relating to the insurance cover we have arranged on your behalf. Failure to advise material changes at the earliest possible opportunity may mean that your cover is invalid. If you are in any doubt as to what facts are considered to be material then you should disclose them to u Bluefin Professions is a trading name of Bluefin Insurance Services Limited. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No: Authorised and regulated by the Financial Conduct Authority. Epic MLP Quote Pack for Charities 2018 v1.0

3 Management liability portfolio For UK charities, clubs and associations Instructions Please provide a full answer to every question. Please ensure that all answers are typewritten or printed in block letters within the spaces provided. A principal of the practice must sign and date this form and any separate sheets. This application is available to any UK registered charity, club or association excluding those in the legal sector, professional football or rugby clubs or the financial services sector. 1. Company details Please tick the appropriate type of company or organisation Charity Club Association Registered name (please include all names under which you practice) Registered charity number (if applicable) Business description Main office address Postcode: 2. Your cover Please state your income during the past 12 calendar months Epic Financial Risks is a trading name of Bluefin Insurance Services Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No: Page 1 of 5 BU MLP for UK charities, clubs & associations v0.1

4 3. Standard cover Trustees and officers liability and Charity legal liability 3.1 Statement of fact Please note that if you cannot comply with the below statement of fact, we will need to refer your proposal form to insurers before we can accept your proposal and confirm your premium and excess levels, which may be different from those shown below. a) You made a surplus in at least one of the last three years b) You have a positive net worth (that is, your assets are worth more than your liabilities) c) You do not provide any of the following services: i) management or supervision of children or vulnerable adults ii) certification, examination or regulation of your members iii) financial or legal advice for a fee d) Dual controls exist on signing cheques above 2,500 and issuing instructions for disbursements of assets or funds e) You have not had any incidents, claims or losses (whether you were at fault or not and irrespective of whether insurance was in force) or investigations in the last five years f) After full enquiry, you are not aware of any fact or circumstance which could lead to a claim under the proposed policy 3.2 Limit of cover and premium The limit of cover will apply separately to each section of cover. In the column that relates to your turnover, please select the limit of cover you require. Limit per section (any one claim including costs) Annual income 100, , ,000 1,000,000 2,000,000 5,000,000 Up to 100, , ,001 to 250, , ,001 to 500, , ,001 to 1,000, , ,000,001 to 2,000, , , ,000,001 to 3,000, , , , ,000,001 to 5,000, , , , , The premiums shown above include Insurance Premium Tax at 12%. A policy fee of 25 will apply in addition to the above premiums. Epic Financial Risks is a trading name of Bluefin Insurance Services Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No: Page 2 of 5 BU MLP for UK charities, clubs & associations v0.1

5 4. Additional cover standard cover PLUS employment practices liability 4.1 Limit of cover and premium The limit of cover will apply separately to each section of cover. The premium shown below is the total premium payable for standard cover plus optional cover. In the column that relates to your turnover, please select the limit of cover you require. Limit per section (any one claim including costs) Annual income 100, , ,000 1,000,000 2,000,000 5,000,000 Up to 100, , , ,001 to 250, , , , ,001 to 500, , , , , ,001 to 1,000, , , , , , ,000,001 to 2,000,000 1, , , , , , ,000,001 to 3,000,000 1, , , , , , ,000,001 to 5,000,000 1, , , , , , The premiums shown above include Insurance Premium Tax at 12%. A policy fee of 25 will apply in addition to the above premiums. 5. Your excesses Section Trustees and officers liability section Employment practices liability section Excess Nil 3,750 each and every claim including defence costs. The excess will not apply where the advice of the legal and employment helpline is followed Company legal liability section 2,500 each and every claim including defence costs applies to Employee Dishonesty claims and Third Party Electronic Fund Transfer claims. 1,000 each and every claim including defence costs applies to Legal pursuit claims. Otherwise Nil excess. Confirmation Your duty to make a fair presentation of the risk You must make a fair presentation of the risk to us when you take out, renew or vary your policy. This means that you must tell us about all facts and circumstances which may be material to the risks covered by your policy in a clear and accessible manner. Material facts are those which are likely to influence us in the acceptance or assessment of the terms or pricing of your policy. If you are in any doubt as to whether a fact is material, you should tell us about it. Epic Financial Risks is a trading name of Bluefin Insurance Services Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No: Page 3 of 5 BU MLP for UK charities, clubs & associations v0.1

6 If you fail to make a fair presentation of the risk, where that failure is deliberate or reckless, or where, we would not have issued, renewed or varied your policy had you told us about a material fact or circumstance, we may treat your policy as if it had not existed and refuse to pay any claims. In other cases, we may only pay part of the value of your claim or impose additional terms. For these reasons, it is important that you check all of the facts, statements and information set out in this document or any other information provided are complete and accurate, and that you have answered any questions completely and accurately. If there is more than one person involved in your business or employed by you, you should check with them where appropriate that the facts and statements that you make are complete and accurate. If any of the facts, statements or information about you or your business is incomplete or inaccurate, you must contact your insurance broker immediately. Failure to do so could invalidate your policy or lead to a claim not being paid. Policy administration In order to administer your insurance policy the Insurers, as shown in the policy documentation, and their agents including Bluefin Insurance Services Limited, hold your details in accordance with the data protection act We may share personal data provided to us with business partners for the purpose of insurance administration and claims handling. It may be disclosed to regulatory bodies for the purposes of monitoring and/or enforcing compliance with any regulatory rules or codes. Your information may also be used for offering renewal, research and statistical purposes and crime prevention. If we do transfer your information, we make sure that it is afforded the same level of protection that it has with us under all relevant legislation within the UK. Fraud prevention and protection In order to prevent and detect fraud Insurers and their agents may at any time; share information about you with other organisations and public bodies including the Police, check and/or file your details with fraud prevention agencies and databases, and if you provide false or inaccurate information and they suspect fraud they or their agents will record this. Insurers and their agents may also search the agencies and databases to: help make decisions about the provision and administration of insurance, credit and related services for you, trace debtors or beneficiaries, recover debt, prevent fraud and to manage your accounts or insurance policies, check your identity to prevent money laundering (unless you furnish other satisfactory proof of identity), undertake credit searches and additional fraud searches. We can supply on request further details of any databases Insurers access or contribute to. Choice of law Unless Insurers agree otherwise the law applicable to the contact of insurance will be the law of England and Wales. 6. Acceptance If my application for insurance is successful I would like to proceed with cover to start on DD / MM / YYYY You can choose for cover to commence on any date within 30 days from when you sign this form. The commencement date cannot be in the past. Your application will be rejected if you choose a commencement date in the past or more than 30 days in the future. Cover will only commence once all necessary underwriting has taken place and you have received confirmation from Epic financial risks. I confirm that I have read the Epic Underwriting summary of cover for this management liability insurance and I declare that the above statements and particulars are true, full enquiry having been made, and I have not omitted, suppressed or mis-stated any material facts and undertake to inform the Insurer of any change to any material fact. I understand that the information I provide will be used in deciding the price charged by the Insurer for the risk and whether the Insurer will accept the application. I further agree that this declaration, together with any other information provided shall be the basis of any contract between me and the Insurer. Epic Financial Risks is a trading name of Bluefin Insurance Services Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No: Page 4 of 5 BU MLP for UK charities, clubs & associations v0.1

7 A COPY OF THIS DECLARATION SHOULD BE RETAINED BY YOU FOR YOUR OWN RECORDS This form must be signed by a principal of the firm or officer of the organisation Signature: Date: / / Print name: Position: This insurance is underwritten by Epic financial risks on behalf of AXA Insurance UK Plc Epic financial risks Castlemead Lower Castle Street Bristol BS1 3AG T: E: enquiries@epicfinrisks.co.uk Epic Financial Risks is a trading name of Bluefin Insurance Services Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No: Page 5 of 5 BU MLP for UK charities, clubs & associations v0.1

8 Acceptance Form Management Liability Portfolio Insured: Please effect the Management Liability Portfolio cover from [ ] I/We herewith enclose the total remittance of Please make cheques payable to Bluefin Insurance Services Limited [ ] I/We wish to pay the premium by Epic s facility with Premium Credit Ltd* using the bank details supplied below: Account name: Sort code: Bank account number: *PCL Ltd will send further communication via your address. [ ] I/We wish to pay the premium by BACS Please send BACS payments to: Royal Bank of Scotland, Harrogate Branch, 7 Cambridge Crescent, Harrogate, HG1 1PH Sort Code: Our Bank Account Number: Please quote ref: I/We hereby declare that there have been no material changes, modifications, alterations or additions to any of the facts or information as set out in Statement of Fact and AFTER ENQUIRY there have been no known or reported losses or circumstances which could give rise to a claim. Signed Position On behalf of Dated Please note that we may be unable to incept or renew cover without receipt of payment. Bluefin Professions is a trading name of Bluefin Insurance Services Limited. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No: Authorised and regulated by the Financial Conduct Authority.

9 Summary of cover Management liability for UK charities, clubs and associations The following information is a brief summary of cover available from Epic financial risks and is intended to show only the most significant terms, conditions and exclusions. For full details of cover you should refer to the policy document a copy of which is available on request. Why choose Epic financial risks s management liability policy? The management liability policy is available to any UK registered charity, club or association excluding those in the legal sector, professional football or rugby clubs or financial services sector. Cover is available for Trustees liability, Employment practices liability and Charity, clubs and associations legal liability. Each section gives cover up to the selected limit for any one claim. There is no limitation on the number of claims that can be made in any one period of insurance. Cover for employment, regulatory, pensions administration and employee dishonesty as standard. Cover automatically responds to most changes in your business such as the purchase of another company, provided they are registered in the UK. Included within the cover is access to free legal, employment and regulatory advice. Policy summary features and benefits Trustees and officers liability Legal costs, awards and settlements for any claim or regulatory action brought against any past, present or future trustee, officer or employee. Legal costs of representing any trustee, officer or employee at an official investigation. Automatically gives cover on the same terms for all subsidiary companies including any subsidiaries bought during the period of insurance, provided they are registered in the UK. Includes claims brought in any jurisdiction including the USA (subject to conditions). Claims against trustees, officers or employees caused by the operation or administration of any pension scheme, employee benefit scheme or trust fund. For as long as this policy remains in force, cover will be provided for a retired trustee for any wrongful act that was alleged to have been committed before they retired. Claims caused by a failed public offering. Automatically includes 30 days cover on the same terms following a management buy-out. Additional GBP100,000 limit for each director for a non indemnified loss, i.e. a loss where the company does not, or is not allowed to, indemnify the trustees. Claims against directors/trustees for personal roles with any charity/not for profit organisation Employment practices liability (optional cover) Legal costs, awards and settlements for any employment claims brought against you or any past, present or future trustee, officer or employee. Legal costs of representing any trustee, officer or employee at an official employment investigation. Automatically includes all subsidiary companies including any subsidiaries acquired during the period of insurance, provided they are registered in the UK. Claims arising from breaches of TUPE (transfer of undertakings protection of employment) legislation. Automatically includes 30 days cover on the same terms following a management buy-out. Charity, clubs and associations legal liability Legal costs, awards and settlements for any claim or regulatory action brought against you. Legal costs of representing you at an investigation. Automatically gives cover on the same terms to all subsidiary companies including any subsidiaries bought during the period of insurance, provided they are registered in the UK. Claims against your business caused by the operation or administration of any pension or employee benefit scheme. Cover up to 100,000 for all claims in each period of insurance for loss to your business due to employee dishonesty or third party funds fraud. Cover up to 100,000 for all claims in each period of insurance arising out of a wrongful act in connection with pollution. Epic MLP Charities 2013v1.0 Epic Financial Risks is a trading name of Bluefin Insurance Services Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No:

10 Cove up to 100,000 for all claims in each period of insurance for loss to your business due to a third party accessing your computer systems and transferring funds Claims caused by a failed public offering. Automatically includes 30 days cover on the same terms following a management buy-out. Claims caused by a breach of professional duty Loss of paper or electronic documents Your damage limitation costs Claims caused by any cyber liability Cover for up to 100,000 of defence costs for breach of contract claims Cover up to 25,000 for pollution clean up costs Regulatory mitigation cover for self reporting Claims caused by any libel or slander (other than printing, publishing or media sector) Additional services included Employment helpline An employment helpline run by one of the UK s leading solicitors Rradar Legal, 13 Waterside Park, Livingstone Road, Hessle, Hull, HU13 0EG. Crisis public relations advice helpline A crisis public relations advice helpline provided by Crisis Public Relations Consultants, Chelgate Limited, No 1 Tanner Street, London, SE1 3LE. Rradar a totally new legal and advisory service Legal, tax and regulatory advice provided by experienced solicitors Rradar Legal, 13 Waterside Park, Livingstone Road, Hessle, Hull, HU13 0EG. Covers key regulatory areas that cause company directors concern. Legal privilege is created in all advice and assistance. Pro-active advice to help you avoid getting into trouble in the first place. Alerts on regulatory changes. Website access to comprehensive library of advice and training videos. Case studies. FAQs Relevant articles covering current legislation and regulation. Contact can be made through the crisis line which is available 24/7, the enquiry line which is available 9am-5pm Monday to Friday or by . Significant or unusual exclusions and limitations Applicable to all sections The policy does not cover: Claims directly relating to bodily injury. Deliberate or dishonest acts and deliberate breaches of regulation (after a court finding or admission or liability). Fines and penalties imposed exclusion for criminal acts. Past claims, matters known or litigation commenced prior to start of the policy. Claims made after a take-over or merger exclusion. Claims from your parent company exclusion. Applicable to Trustees and officers liability & Charity, clubs and associations legal liability sections The policy does not cover: Claims arising from the operation of a defined benefit pension scheme. Applicable to Employment practices liability & Charity, clubs and associations legal liability sections The policy does not cover: Claims outside of the United Kingdom exclusion Applicable to Employment practices liability section The policy does not cover: Contractual payments. Non compensatory payments. Epic MLP Charities 2013v1.0 Epic Financial Risks is a trading name of Bluefin Insurance Services Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No:

11 Applicable to Charity, clubs and associations legal liability section The policy does not cover: Onerous contracts exclusion. Products exclusion. Standard excesses (applies to defence costs and awards or settlements) Trustees and officers liability: Nil Employment practices liability: GBP2,500 each & every claim including defence costs. The standard excess will not apply where the advice of the employment helpline is followed. Charity, clubs and associations legal liability: Nil other than employee dishonesty claims where the excess is GBP2,500 each & every claim Important note This policy is underwritten on a claims made basis. The insurance will only respond to claims that are notified to the insurer during the period of cover. As such, it is vital that any claims or circumstance which could give rise to a claim, are notified to us as soon as possible. Your covers Covers that show (optional) after the information will need Employment practices liability cover to be added to your policy to be in force. The insurer This insurance policy is underwritten by AXA Insurance UK plc. The policy is provided by Epic financial risks which is a trading name of Bluefin Insurance Services Limited. Policy duration This is an annually renewable policy Law applicable You and your insurers are free to choose the laws applicable to your policy. As your insurers are based in England, they propose to apply the laws of England and Wales and by purchasing this policy you have agreed to this. Cancellation rights You may cancel this policy within 14 days of receiving your policy. You may cancel the Employment practices liability section and Charity, clubs and associations legal liability section at any time if the business ceases trading. The insurer can cancel the Employment practices liability section and Charity, clubs and associations legal liability section by giving you 30 days written notice: i) if there is a material change in your business ii) if the information that forms the basis of this contract changes or immediately upon non payment of the premium. In these circumstances the insurer will give a refund for the proportionate part of the premium paid in respect of the unexpired terms of the policy, provided that no claim has been paid or is outstanding. Claims notification In the event that you need to make a claim under your policy, you should provide full details to the following: Epic Management Liability Claims Rradar Legal 13 Waterside Business Park Livingstone Road Hessle HU13 0EG or by to claims@rradarlegal.co.uk or telephone Epic MLP Charities 2013v1.0 Epic Financial Risks is a trading name of Bluefin Insurance Services Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No:

12 In the event of a public relations claims, you will need to contact the following: Crisis Public Relations Consultants Chelgate Limited No 1 Tanner Street London SE1 3LE or by telephone: Please refer to Section 1, Policy conditions, of the policy wording for full details. Complaints Sometimes things may not go entirely to plan. Both Epic financial risks and the Insurer welcome the opportunity to discuss any concerns that you may have about any aspect of the service you have received. Should you need to discuss a problem, please contact your insurance broker in the first instance. If it is not possible for your insurance broker to resolve your complaint to your satisfaction your insurance broker will refer the complaint to Epic financial risks and the Insurer, whose Customer Relations Team will undertake a separate review. Financial Services Compensation Scheme (FSCS) Epic financial risks and your insurer are covered by the FSCS, which is triggered when an authorised firm goes out of business. In this unlikely event you may be entitled to compensation from the scheme. Compensation under the scheme for: Compulsory insurance is covered in full. The maximum level of compensation for claims against firms declared in default is 90% of the claim with no upper limit. Full details are available at Please contact your insurance broker/intermediary for explanations on any terms you do not understand. Epic MLP Charities 2013v1.0 Epic Financial Risks is a trading name of Bluefin Insurance Services Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No:

13 Our range of services What we do for our commercial customers The range of service delivered to you by our trained, professional staff depends upon the particular risks you face and therefore your demands and needs for insurance cover. However, we would remind you that we can only know and act upon the information you provide so it is always essential that you fully disclose the risks you face. To provide you with a flavour we ve listed examples of what we do for our customers but please note that in some situations this may only involve part of what is listed. Initially and at renewal - we will confirm the purpose of making contact with you answer your queries and provide information, as requested Reporting - we will confirm the price and any significant or unusual conditions or exclusions of the insurance cover the width of our search of the market and whether we are under any contractual obligation to an insurer the principal we are acting for in searching the market if we have used another intermediary to place your insurance cover the principal we act for when settling a claim any fee or charges due in the period of the policy in addition to the insurance premium Confirming cover - we will check the policy wording issued by your insurer for accuracy in meeting your demands & needs Day-to-day we will answer queries on the policy cover, insurance matters or proposed change to your insurance risk confirm mid term adjustments to your insurer under your instruction Claims - we will report claims on your behalf or ensure you have contact details for speedy reporting of a claim liaise with your insurer s Loss Adjuster, as necessary discuss and seek early resolution on any current or post-loss concerns you raise, with your insurer Accounting - we will reconcile your payment, pay your insurer or obtain return premiums for you, when appropriate. 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. MLP Charities Apr 2015 Non Advised

14 Statement of demands and needs This product is designed to meet the demands and needs of UK charities, clubs or associations that wish to buy a policy to provide cover for the following:- Policy type Management Liability Insurance Your main requirements You require a policy to cover your UK charity, club or association and your individual directors / trustees, officers or managerial employees against their legal liability to pay compensation, including legal costs for a third party s financial loss, resulting from a wrongful act committed in the conduct in the course of your trustee capacities. You also require a policy that gives you the option to include cover for legal costs or compensation awards incurred by your UK charity, club or association arising from the alleged wrongful treatment of an employee. The cover available is explained more fully in the enclosed Summary of cover and policy wording This statement does not constitute advice or a personal recommendation for any one particular member of the association. Should you require further advice on your specific needs, please contact Bluefin. Our capacity and services The capacity in which Bluefin is acting Bluefin usually acts as your agent in its capacity as an insurance intermediary. Because of this we are subject to the law of agency, which sets out our duty of care to you. In some circumstances, we may act for and have a duty of care to insurers. The following table sets out these circumstances, so you can see any possible conflicts of interest. Sourcing a suitable policy when we get quotes for you Placing the insurance when we arrange for your cover to start In the event of a claim Management Liability Insurance We act as your agent We act as agent of the insurer We act as your agent We act as agent of the insurer We will act as your agent We will act as agent of the insurer MLP Charities Apr 2015 Non Advised

15 How we made our selection Market selection Management Liability Insurance Fair analysis Limited number of insurers Single insurer Other intermediary Delegated authority What we mean by: Fair analysis: we have carried out a fair analysis of the market in order to identify a suitable product. This means that we have compared products from a sufficiently large range of insurance providers in terms of cover, price, quality of service and other relevant features in order to select an appropriate policy for you. Limited number of insurers: our search for a product to meet your requirements has involved a limited number of insurers. We are happy to discuss with you the scope and outcome of our search. You can ask us at any time for a list of the insurers we may, and do, use. Single insurer: we have chosen to approach one insurer for this specific type of insurance. You can ask us at any time for a list of the insurers we may, and do, use. Other intermediary: to access the insurance product that best suits your needs, we will use another intermediary to place your business. Delegated authority: the terms for your policy have been provided using an authority delegated to us by an insurer. MLP Charities Apr 2015 Non Advised

16 Terms of business agreement - commercial customers Bluefin Insurance Services Limited Authorised and regulated by the Financial Conduct Authority No: Registered Office: 1 Tower Place West, Tower Place, London, EC3R 5BU. Registered in England No: Data Protection Act Registration No: Z Please read this document carefully. It sets out the terms and conditions on which we agree to act for you, contains details of our responsibilities together with your responsibilities both to us, to insurers and to other third party providers. Please contact us immediately if there is anything in this document that you do not understand/or with which you disagree. Your receipt of this document constitutes your informed consent to its contents. By instructing us you are accepting this terms of business agreement. In the interests of security, staff training and to generally improve our service please be aware that telephone calls may be monitored and/or recorded. 1. Definitions 1.1. Commercial customer means a customer who is acting within their trade or profession in respect of the insurance cover requested or arranged You or your means you (and/or your appointed agent) We or us or our or Bluefin means Bluefin Insurance Services Limited Affiliate means, in relation to a company, its subsidiaries and subsidiary undertakings and any holding company it may have and all other subsidiaries and subsidiary undertakings of any such holding company (as such terms are defined in the Companies Act 2006). In addition to the foregoing, in reference to Bluefin the term Affiliate shall include Marsh Limited and its subsidiaries, the Marsh and McLennan group of companies and Jelf Group plc and all of its subsidiaries. As the term applies to you, "Affiliate" shall also include your partners, co-ventures and/or other co-insureds to whom we or any of our Affiliates may assume a responsibility as a consequence of the provision of the services or any additional services. 2. Who regulates us? 2.1. We are authorised and regulated by the Financial Conduct Authority (FCA) an independent body that regulates the UK financial services industry. Our details may be confirmed on the Financial Services Register or by phoning the FCA on Our service 3.1. We are committed to providing you with quality service and insurance products. As an intermediary and your agent we owe various duties to you and will inform you as necessary if circumstances occur that may create a possible conflict of interest Our permitted business activities are advising, arranging (bringing about) deals, making arrangements with a view to transactions, dealing as agent, assisting in the administration and performance of a contract and agreeing to carry on a regulated activity in respect of General Insurance contracts as well as credit broking and exercising/having right to exercise lender's rights and duties under a regulated credit agreement Unless we have informed you to the contrary in writing we will not assess your specific insurance needs and make a personal recommendation but will provide you with information from to enable you to make a decision on whether our products meet your needs Upon receipt of your instructions we will place, amend or renew insurance cover on your behalf with insurers. We will inform you of any inability to place your insurance You are not to rely on any insurance policy you have instructed us to place on cover until we have confirmed in writing to you that the insurer has agreed to such insurance cover being in place. Please note that you must comply with the terms and conditions of the insurance policy you purchase including any matters where the insurer makes cover subject to your compliance with conditions or with express or implied warranties. Failure to comply may entitle the insurer to cancel your insurance contract and/or risks a claim you make not being paid in part or in full. (Also see Clause 14. Claims) Please also note, unless your policy confirms otherwise, the rights under your policy may only be pursued in an English court. 4. Our remuneration and other income 4.1. We are usually remunerated by commission from your insurer(s) for our insurance broking services, or by way of a fee negotiated and agreed with you. If we receive both, this will be confirmed in writing to you at the time of incepting or renewing your insurance. In addition: Where we are remunerated by commission, we may also make individual charges up to 100 to cover the administration of your insurances e.g. arranging a new policy, mid-term adjustments, short period or mid-term cancellations, renewals, issue of replacement or duplicate documents. We may also make individual charges where we prepare and issue documents on behalf of insurers, these will be confirmed in writing to you at the time of incepting or renewing your insurance where applicable Some insurers may make additional payments to us reflecting the size and/or profitability of our account with them and/or in respect of work we undertake on their behalf. In addition we may also receive payment from other firms, such as premium finance providers, where non-insurance products or services are supplied to you Our remuneration in whatever form and in respect of any policy shall be due on the date of inception or renewal of that policy. We shall be entitled to retain all commission and/or agreed fees in respect of the full policy period including where you appoint another intermediary in our place during the currency of a policy or where a policy is cancelled after inception or renewal. (Also see Clause 13. Short period and cancelled policies) 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 or arranging your premium finance facility. Page 1 of 6 Bluefin-Marsh Commercial Non Advised TOB Feb 2017

17 5. If domiciled in a country other than the UK 5.1. The law or regulations in your country of domicile may take precedence over any relevant UK legislation. Therefore references in this document to the FCA or Financial Ombudsman Service or Financial Services Compensation Scheme and any rights or benefits thereunder may not apply. If you wish to clarify your position in this respect then we will discuss this on request. 6. Duty of fair presentation 6.1 It is your duty to disclose to insurers, all information, facts and circumstances which are, or ought to be, known to you and which are material to the risk and to do so in a reasonably clear and accessible manner. This duty arises when you take out and renew insurance, and when you vary an existing policy. A material circumstance is one that a prudent underwriter would consider influential in determining whether or not to provide cover, if so on what terms and what price to charge for the cover. It is likely that any changes to facts previously advised will be material and such changes should therefore be notified. A fact should not be regarded as immaterial merely because it is not the subject of a question on a proposal form and your duty is not limited to answering the specific questions that insurers or we ask you. For example, an un-notified claim is likely to be a material fact to be disclosed. If in any doubt as to whether information is material, you should disclose it, as failure to do so could prejudice your right to recover in the event of a claim or allow underwriters to apply additional terms or even to avoid the policy from inception and treat it as if it had never existed. You should also ensure that all the information you provide to us is correct. Your attention is specifically drawn, and we ask you to read carefully, the separate The Duty of Disclosure and Fair Presentation document, which sets out in further detail your duty to disclose all material circumstances. If having read the above and that document you think we need any further information, or if you have any questions, please let us know. 6.2 All statements and material facts disclosed on proposal forms, statements of fact, claims forms and other documents should be full, true and accurate. Where forms are completed or partially completed on your behalf, you should check them for accuracy before signing. If you are in any doubt as to whether a fact is relevant, you should disclose it and then ask for guidance. 6.3 If there is more than one person involved in your business or employed by you, you should check with them, where appropriate, that the facts and statements that you make are complete and accurate. Examples of some people that should be included within your enquiries are: Senior management within your business (which is anyone who plays a significant role in making decisions about how your activities are to be managed or organised). Any person or entity for whom cover is provided by the contract of insurance. Anyone who is responsible for the procurement of your insurance. When considering the extent of your search you should take in to account the nature of the insurance you wish to purchase and consider who is best placed to provide relevant information. This could include information held both within your business and by any other person outside it. 7 Notification of changes, alterations and renewals 7.1 Amendments to policies may be arranged upon receipt of full details and on return of the certificate of insurance (if applicable). Cover is subject to acceptance by insurers and payment of any additional premium required inclusive of Insurance Premium Tax (IPT). 7.2 Renewals are invited on the basis that there have been no changes in the risk other than those specifically notified to us or your insurers. 8 Insurer security 8.1 We will only place cover with insurers who satisfy certain minimum criteria assessed by the rating agencies and/or our own assessment, or for whom you have given us specific approval to use. Whilst the information upon which we rely is obtained from sources considered to be reliable, and we use all reasonable endeavours to review that information in order to protect your interests, predictability of solvency cannot be, and is not, guaranteed by us. The financial standing of any insurer can, of course, change after the insurance contract had incepted. We do not guarantee the ongoing ability of any insurer to meet their contractual obligations. 9 Quotations 9.1 Quotations are valid until the date cover commences up to a maximum of 30 days, unless otherwise stated. Specimen policy wordings are available upon request. 10 Documentation 10.1 It is your responsibility to read all documentation upon receipt and raise any query regarding it otherwise you risk a loss you suffer not being paid in part or in full. Documentation including your policy and certificate, if applicable, will be issued to you upon receipt from insurers You must check all documentation issued to you to ensure the details are correct and the insurance cover provided meets your requirements. We will arrange insurance cover according to your instructions but only you can identify if it does not meet your intentions. If you have any concerns in respect of your insurance cover or are uncertain as to the meaning of any terms and conditions or if you discover errors in the documentation, then you must notify us immediately. 11 Payment of the premium 11.1 We must receive your payment, unless it is made by you directly to your insurer, by cheque, credit or debit card, electronic funds transfer or be in receipt of a completed premium instalment application form (with deposit where requested) drawn on a bank, building society or other UK financial institution account in the policyholder s name and before cover commences unless we agree otherwise. A charge may apply to payments made by credit card and this will be confirmed to you in writing at the time of incepting or renewing your insurance. If we agree to accept payment from someone other than the policyholder then this must be notified to us and agreed by us We have no obligation to fund any premium, taxes or fees (if applicable) on your behalf nor do we have any responsibility for any loss you may suffer as a result of cancellation of insurance cover or any other prejudicial steps taken as a result of late payment substantially attributable to you. If we decide to retain certain documents whilst awaiting payment, we shall provide details of your insurance cover and any information or documents required by law We shall be entitled (but not obliged) without providing notice to you to set off any amounts due to us from you, against any amounts which we may receive on your behalf (i.e. claims moneys, refunded premiums and other sums). Please be aware that full or partial nonpayment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy. Page 2 of 6 Bluefin-Marsh Commercial Non Advised TOB Feb 2017

18 12 Transferred business 12.1 When we are appointed to service insurance policies other than at their inception or renewal and which were originally arranged via another party, we shall not be liable during the current insurance period for any loss arising from any errors or omissions or gaps in your insurance cover. Should you have any concerns in respect of a policy, which has been transferred to us, or if you require an immediate review of your insurance arrangements, you must notify us immediately. 13 Short period and cancelled policies 13.1 If you wish to cancel your policy then you will need to return the policy document and current certificate of insurance (if applicable) and confirm your cancellation instructions. Subject to the cancellation terms of your policy, a refund of premium may be available. Details of any applicable cancellation terms and charges will be found in your policy documents. Our commission and/or fees are fully earned from the date insurance cover commences and may not be refundable in the event of cancellation, avoidance or early termination of a policy. 14 Claims 14.1 We will assist you with information when you make a claim under your policy but it remains your responsibility to have read, understood or queried all documentation upon receipt. All incidents that could possibly give rise to a claim must be notified to us or your insurer in accordance with the terms of your policy and a claim form completed where required. Delay on your part in notifying a claim and/or completing required forms may risk a loss you suffer not being paid in part or in full You must not under any circumstance admit liability for a loss or agree to any course of action, other than emergency measures carried out to minimise the loss, as you will risk your claim not being met in part or in full. All correspondence, claims, writs, summonses etc. should be forwarded immediately, unanswered, either to us or to your insurer. You are also reminded of your duty to keep all losses and costs arising from an incident to a minimum and that failure to comply with policy terms and conditions may invalidate cover We will remit claim payments received on your behalf, to you as soon as practicable after confirmation of receipt of cleared funds in our bank account. In the event that an insurer becomes insolvent or delays making settlement, we do not accept liability for any unpaid amounts Where we have a delegated authority from an insurer to settle your claim on their behalf we shall make you aware of this on notification of the claim and obtain your informed consent to proceed We will provide a claims handling service for you as long as you remain our customer. We reserve the right to charge a fee for our claims services if you cease to be a customer but still wish us to handle any claim, and we are prepared to do so. If you wish us to provide claims services on policies issued before our appointment, we also reserve the right to charge you a fee. 15 Client and insurer money 15.1 The FCA requires us to hold all client monies, including yours, in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances; our general creditors would not be able to make claims on client money as it will not form part of our assets We hold all client monies in a Non Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, we assume responsibility for such monies and are permitted to, and may: Use such monies received on behalf of one customer to pay another customer s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this Retain for our own use, any interest earned on client money Your money will be held either as agent of the insurer or agent of the client, depending on which insurer(s) your insurance has been placed with. Where money is held as agent of the insurer, this means that when we have received your cleared premium, it is deemed to have been paid to the insurer Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which fall due to you, as being with your informed consent to the payment of those moneys into our Non Statutory Trust bank account. 16 Our liability to you 16.1 Unless we have otherwise agreed with you in writing, we shall treat your instructions to us to place or renew your insurance cover as acceptance of the limitation of our liability to you and to any other person with an interest in your insurance cover, as follows; 16.2 Our aggregate liability and the liability of our Affiliates to you, on any basis (including for example for breach of contract or negligence), arising out of or in connection with these Terms of Business shall be limited in total to 10,000,000. Bluefin shall not be liable to you in any circumstances for any special, indirect or consequential loss or loss of profits. These provisions shall not apply to any liability which cannot lawfully be excluded or limited This limitation of liability clause shall survive termination of these Terms of Business You agree that if you do not notify us of material facts and circumstances relevant to the risk to be insured, including those which may arise during the period of your insurance cover, this will be treated by us as a statement that you have no information to supply in relation to that fact or circumstance. If you do not understand any point please ask for further information. Page 3 of 6 Bluefin-Marsh Commercial Non Advised TOB Feb 2017