Management Liability Portfolio Charities, Clubs & Associations

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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 Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX. 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 Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX. 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 Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX. BU MLP for UK charities, clubs & associations v0.1 Page 1 of 5

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 Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX. BU MLP for UK charities, clubs & associations v0.1 Page 2 of 5

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 Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX. BU MLP for UK charities, clubs & associations v0.1 Page 3 of 5

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 Jelf Insurance Brokers Ltd, 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. A COPY OF THIS DECLARATION SHOULD BE RETAINED BY YOU FOR YOUR OWN RECORDS Epic Financial Risks is a trading name of Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX. BU MLP for UK charities, clubs & associations v0.1 Page 4 of 5

7 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 Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX. BU MLP for UK charities, clubs & associations v0.1 Page 5 of 5

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 Jelf Insurance Brokers Ltd [ ] 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 Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX.

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 Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX.

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 Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX.

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 Jelf Insurance Brokers Ltd. 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 Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX.

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 Jelf Insurance Brokers Ltd which is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX.

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 Commercial Terms of Business The purpose of this document is to set out the professional relationship and the services Jelf Insurance Brokers Limited (registered office: Hillside Court, Bowling Hill, Chipping Sodbury, Bristol BS37 6JX and company number: ) will provide to you. This is our standard client agreement upon which we intend to rely ( Terms of Business ). For your own benefit and protection you should read the terms carefully and in particular, we would like to draw your attention to sections 7 ( Client money ), 13 ( Information and changes we need to know about ) and section 19 ( Limit of liability ). If there are any terms which you do not understand, please ask us for further information. Jelf Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority ( FCA ) with FCA reference number and you can check our permissions and the names under which we trade on the FCA s website or by calling them on (freephone) or Not all products and services offered are regulated by the FCA. We will tell you where this is the case. For the purposes of this agreement the term affiliate means any member of our group, which means our subsidiaries, ultimate holding company and all of that ultimate holding company s subsidiaries as defined in section 1159 of the Companies Act 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. Our services 1.1. We are an insurance intermediary and risk consultant, and will act on your behalf in arranging your insurance requirements. However, in certain circumstances we may act for or owe a duty of care to other parties such as insurers. We will inform you when these circumstances occur so you will be aware of any possible conflict Insurance policies taken out, amended or renewed through our online/remote service (i.e. without speaking to one of our advisors) will be on a non-advised basis. This means information will be provided in order for you to make an informed decision about any insurance transactions undertaken by you. You should therefore ensure such transactions are suitable for your needs If you speak to one of our advisors about taking out, amending or renewing your policy, then you are likely to do so on an advised basis. This will include the provision of advice and recommendations where appropriate, in order to ensure insurance discussed is suitable for your needs We offer a wide range of products and our services may include: advising on and recommending insurance cover following an assessment of your demands and needs; negotiating terms on your behalf with insurers; providing you with sufficient information so you can make an informed decision as to which policy you want; making arrangements with the insurer for your policy to start; and helping you with any on-going changes you have to make and providing assistance should you need to make a claim Depending on the type of cover you require, we will either: look at a range of insurers that is representative of the insurance market; or select from a limited panel of insurers; or offer you a contract from a single insurer We will confirm which one of these applies before we arrange your insurance contract. A list of the insurers considered will be available on request Any information we provide on insurance regulatory and tax issues will be based on information available publicly and our experience from working on similar matters for other clients. We are not qualified to provide, and will not provide, legal, accounting, regulatory or tax advice. We recommend that you obtain your own advice on such matters from relevant professional advisers As part of our negotiations with insurers on your behalf, we may on occasion be able to obtain more favourable terms and conditions for your placement by providing insurers with certain types of information. Where we believe your interests would be advanced by doing so, you authorise us to do the following: at the outset of the negotiations, to provide insurers with the terms of the expiring policy, including pricing, and/or a pricing JIB Combined Commercial GI & EB April 2018 Page 1 of 8

17 objective for your placement; during negotiations, to provide one or more insurers with the terms of a quote received from another insurer, where in our judgment doing so may lead to improved terms for you; and at the end of negotiations, to provide one or more insurers with an opportunity to submit an improved quote after all other quotes have been received We will be entitled to provide the services ourselves or, where appropriate, through one or more of our affiliates or subcontractors. 2. How we are paid 2.1. In most cases we are paid by commission from the insurer but in some circumstances, we may charge you a fee instead of commission or a combination of both. We may also receive an additional UK brokerage commission on certain policy placements, which will be retained by Jelf any arrangements we have with you for the rebating of commission will not apply to this fixed brokerage We receive payments from insurers for providing consulting, data analytics and other services. These services are designed to: improve the range of products we can offer to our clients; help insurers to identify new opportunities; and make insurers more efficient The scope and nature of these services vary. A list of insurers who pay us for consulting services is available on request by writing to markets@jelf.com In addition to commission payments and/or client fees, we may also receive remuneration for certain consultancy, administrative and other services provided to insurers (e.g. risk management services or claims preparation) or income derived from the arrangement of finance (see section 4) or other services with third party suppliers We will also make individual charges of up to 45, per policy (up to a maximum of 3 policies, per policy period) to cover the costs associated with administering your insurances e.g. arranging a new policy, carrying out short-period or mid-term cancellations, providing replacement or duplicate documents and for other administrative tasks. If you make midterm changes to your policy, a charge of up to 45 will apply to the third and each subsequent policy change during the policy period. We will advise you of the amount of fee before you become liable to paying it. Individual charges will not be made in relation to employee benefit-related products If you make a change, or cancel your policy midterm which results in a return of premium, we will retain any commission and/or fee amount to cover our administration and advisory costs. This amount will be specified to you during the transaction process If you would like details of how much commission we earn for arranging your policy, please let us know. 3. Premiums 3.1. You must settle the premium(s) due in cleared funds in accordance with the amounts and payment dates specified in our correspondence with you. Failure to meet the payment dates may lead to insurers cancelling your policy, thus leaving you without insurance cover. Please note that where insurers have specified that the premium must be settled by a certain date (i.e. premium payment warranty ), failure to comply can result in the automatic termination of your insurance contract Premiums can be settled direct with the insurer or in many cases can be paid by premium finance (see section 4) or paid to us (see section 7 client money) Please also note that your policy cover will cease if you fail to keep up payments on an instalment agreement or premium finance facility related to it. 4. Premium financing For the purposes of arranging premium finance, Jelf Insurance Brokers Limited acts as a credit broker and in arranging premium finance, we are acting on behalf of and owe a duty to the premium finance provider. We work exclusively with Close Brothers Limited, trading as Close Brothers Premium Finance ( Close ) to provide a premium finance facility to our insurance clients a loan with Close is designed for the repayment of insurance premiums only. We will provide you with information about this payment option on a non-advised basis i.e. we are not providing you with advice as to the choice of finance provider or the suitability of the premium finance product and you will need to make your own decision about whether to JIB Combined Commercial GI & EB April 2018 Page 2 of 8

18 proceed. If you do elect to finance your premium payments via Close, Jelf Insurance Brokers Limited will receive a payment in return for the work that it undertakes on behalf of the finance provider. Acceptance is subject to status and terms & conditions apply and Close may undertake an enquiry with a credit reference agency such as Experian when you make an application. The credit reference agency will add details of the search and the application to their record about you whether or not the application proceeds. Further details will be provided when an application for finance is made. Insurers own credit facilities may also be available if appropriate. 5. Awareness of policy terms & conditions When your policy is issued, you are strongly advised to read it carefully as it is that document, along with the schedule/certificate, that details the policy terms and conditions of the insurance contract you have purchased. You should make sure the documents are accurate and contact us if they contain any errors. If you are in any doubt over any of the policy terms or conditions or you do not understand them, please ask a member of our staff for further clarification. 6. Claims service 6.1. As part of our service, whilst we are your appointed broker, we will help you submit a claim on your policy to your insurer but it remains your responsibility to have read, understood or queried all documentation upon receipt. We may also provide a claims handling service but should we do so, we reserve the right to charge a reasonable fee for our services. In the event that we no longer act as your appointed broker, we may provide (at your request) a claims handling service or if we are already providing one, continue to provide a claims handling service but in each case, subject to payment of a reasonable fee 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. If you are unsure whether a matter constitutes a claim or not, please contact us and we will advise you. A delay in notifying a claim and/or completing required forms will risk a loss you/the policyholder suffer not being paid in part or in full. You should not, however, admit liability or agree a course of action, other than emergency measures carried out to minimise the loss, until you have agreement from your insurer. 7. Client money 7.1. Client money is money that we receive and hold on behalf of our clients over the course of our relationship such as premium payments, premium refunds and claim payments. We hold this either on your behalf or on behalf of your insurer(s) as determined by the agreement we have in place with each insurer In most cases we will have an agreement with the insurers where we act as agent for the insurer and any money received by us will be treated as if it has been received by the insurer and the insurer will bear the risk of any losses in the event that our firm becomes insolvent. In the same way, we may also have an agreement with the insurer that any claims money or premium refunds received by us from the insurer will not be treated as received by you until they are actually paid over to you. We may hold both insurer and client money in the same bank account but when this happens insurers will have previously agreed that any claim by you on monies that are client money will come before their claim In cases where we do not have such an agreement with an insurer, we will hold your money in either a statutory or a non-statutory trust client money bank account. These accounts are governed by rules that seek to protect clients against any inability of an insurance broker to transfer premiums to an insurer, or to transfer refunds and/or claims money to a client The terms of a non-statutory trust account allow us to use the money held in trust on behalf of one client to pay another client s premium before it is received from that client and to pay premium refunds or claims before we receive payment from the insurer. This is in line with standard industry practice and we are not permitted to use client money for any other purpose. If you do not wish us to hold your money in a non-statutory trust account, please let us know Any commission due to us may be taken from the client money account and this may be taken before we pass the premium onto the insurer. If we earn interest on any money held in this account this will be retained by us and not passed on to you We may need to transfer money to an affiliate, where this is required, you authorise us to do so. If we use a third party to place your JIB Combined Commercial GI & EB April 2018 Page 3 of 8

19 insurance we may need to transfer your money to that party but we still remain responsible for your money until it is deemed to be received by the insurer. In some cases this may mean that your money is transferred to a third party outside of the UK where the legal and regulatory systems are different. If such a third party fails, your money may be treated differently than it would, had the third party been in the UK If you do not want your money to be passed outside of the UK or if you have any other objections to this section, please contact us immediately. If we do not hear from you we will assume you consent to us handling client money in this way. 8. Cancellation rights Your insurance contract may include a cancellation clause and you may have the right to cancel your policy. If you decide to cancel your insurance contract within any stipulated timeframe and you have not made a claim on the policy, you may be entitled to receive a refund of any premium paid, less any reasonable costs incurred by the insurer in providing the cover. The terms of your policy may allow insurers to retain the premium in full or to charge short period premiums in the event of cancellation before the policy expires please check your policy documentation for further information or ask a member of staff for clarification. Please note our commission and, where appropriate, fees are fully earned from the date insurance cover commences and will not be refundable in the event of cancellation, avoidance or early termination of a policy. 9. Complaints 9.1. We are committed to providing our customers with a high standard of service but things can go wrong in any business. If for any reason we have not met your expectations please let us know by informing your usual contact or you can contact our complaints department on or write to us at Complaints Department, Jelf Insurance Brokers Limited, Hillside Court, Bowling Hill, Chipping Sodbury, Bristol, BS37 6JX Should you remain dissatisfied with the way we resolve a complaint, you may have the right to refer to the Financial Ombudsman Service, free of charge. Their address is: The Financial Ombudsman Service (FOS), Exchange Tower, London, E14 9SR. Tel: complaint.info@financial.ombudsman.org.uk. Further information can be found on the Financial Ombudsman Service website. FOS Website: Compensation 11. Insurers If we are unable to meet our obligations, you may be able to submit a claim to the Financial Services Compensation Scheme (FSCS). Insurance advising and arranging is covered for 90% of the claim, without any upper limit. For compulsory classes of insurance (such as motor insurance), insurance advising and arranging is covered for 100% of the claim. For full details and further information please contact the FSCS helpline on or visit their website It is our normal practice to assess on a regular basis the financial strength of the financial institutions that we introduce to our clients. This process involves monitoring the financial ratings applied by independent rating agencies such as Standard & Poor s and Moody s along with other publicly available information The ratings applied to each firm are a reflection of the agencies views on the medium to longterm ability of each firm to meet its obligations to its policyholders. Where an insurer achieves or exceeds our minimum requirements we place it on our acceptable list. It should be noted that whilst we take every care to promote only the strongest institutions, we are unable to guarantee the financial strength of any insurance company. 12. Quotations Quotations are valid until the date cover commences up to a maximum period of 30 days, unless otherwise stated. Specimen policy wordings are available upon request. 13. Information and changes we need to know about You have a duty under the Insurance Act 2015 to make a fair presentation of the risk to your insurers. This duty requires you to disclose all material information, facts and circumstances; to do so in a manner which is reasonably clear and accessible, and not to make any misrepresentations. This duty applies before you take out your policy, when you renew it, when you vary or extend it, and also during the JIB Combined Commercial GI & EB April 2018 Page 4 of 8