Unoccupied Property Owners Policy Summary Unoccupied Property Owners Policy Summary

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1 Unoccupied Property Owners Policy Summary Unoccupied Property Owners Policy Summary Policy Summary This document provides a summary only of the significant aspects of cover (including restrictions) provided by our Unoccupied Property Owners Insurance policy. This summary does not describe all the terms and conditions of your policy, so please take time to read the policy document to make sure you understand the cover it provides. For full details, please refer to the policy itself which is available to download from our website ( or by contacting your broker. Introduction The cover provided by the Unoccupied Property Owners Insurance policy has been designed to meet the needs of the property owning community including landlords and buy to let investors for single site commercial and or mixed commercial and residential let properties which are currently unoccupied. Information You have given Us When deciding to accept a policy and in setting the terms and premium, we rely on the information you have given us. You must take care when answering any questions we ask by ensuring that all information provided is accurate and complete. If we establish that you deliberately or recklessly provided us with false or misleading information we will treat this policy as if it never existed and decline all claims. If the information provided is not accurate and complete, we may: treat this policy as if it had never existed and refuse to pay all claims and return the premium paid. We will only do this if we provided you with insurance cover which we would not otherwise have offered amend the terms of your insurance. We may apply these amended terms as if they were already in place if a claim has been adversely impacted by your carelessness charge you more for your policy or reduce the amount we pay on a claim in same the proportion the premium you have paid bears to the premium we would have charged you; cancel your policy in accordance with Our Cancellation Rights below. We or your insurance broker will write to you if we: intend to treat your policy as if it never existed or need to amend the terms of your policy or require you to pay more for your insurance. If you become aware that the information you have given us is inaccurate you must inform your broker as soon as possible.

2 Covers Property Damage Fire Lightning Explosion Aircraft or other aerial device Earthquake And where selected Subsidence, heave or landslip Storm Flood Escape of Water Terrorism Notable Cover Enhancements: Additional costs to comply with European Union and Public Authority requirements Architects Surveyors Legal & other Professional Fees Automatic reinstatement of the sum insured Clearing Drains following damage up to a maximum of 5,000 any one claim Damage by Emergency Services up to a maximum of 25,000 any one claim Damage to underground services including telephone, gas, water and electricity up to a maximum of 25,000 any one claim Debris Removal Costs for Buildings and Contents Fire and Security Equipment refilling, recharging, replacement or resetting up to a maximum of 5,000 any one claim Fly Tipping up to a maximum of 1,000 any one claim Further investigation expenses up to a maximum of 5,000 any one claim Hire Agreement notice of Interest clause Legal Expenses for Eviction of Squatters up to a maximum of 2,500 in any period of insurance Cost of changing lock & keys up to a maximum of 5,000 any one claim Non invalidation Removal of insect nests up to a maximum of 500 any one claim Seventy two hour clause for storm or flood events Workmen carrying out minor repairs at the insured premises Notable Section Exclusions: The Excess as stated in the Policy Schedule Pollution and/or contamination Property more specifically insured Storm, Flood or Escape of Water unless extended to include Damage in respect of fences, gates and moveable property in the open caused by Storm or Flood where insured Subsidence, heave or landslip, unless extended to include Subsidence caused by new structures bedding down or newly made-up ground settling where insured Terrorism unless extended to include Notable Section Conditions: Unoccupancy Condition of Average for underinsurance Day one reinstatement basis of settlement Felt roof inspection Maintenance of fire extinguishing appliances

3 Business Interruption - Loss of Rent (Operative only if stated in the Policy Schedule) This section covers financial compensation for loss of rent following accidental loss or destruction of or damage to Property belonging to the Insured following a loss under the Property Damage section. Notable Cover Enhancements: Automatic reinstatement of the sum insured Loss of Rent caused by Denial of Access following damage to a property within 500 metres of the premises Loss of Rent caused by Food Poisoning, Disease, Infestation, Defective Sanitation and Murder or Suicide at the premises up to a maximum of 25,000 any one claim Loss of rent following damage to the managing agent s premises up to 10% of the Rent sum insured or 250,000 whichever is the less Loss of Rent following damage to supply undertakings Notable Section Conditions: Current Cost Accounting Payments on Account Property Owners Liability This section provides protection for legal liability for damages and legal costs arising from the ownership of the premises. Standard limit of indemnity is 2,000,000 with an option to increase to 5,000,000 upon request. Notable Cover Enhancements: Additional activities Legal costs in respect of o Consumer Protection Act 1987 o Corporate Manslaughter and Corporate Homicide Act 2007 o Food Safety Act 1990 o Health & Safety legislation Liability incurred in connection with o Data Protection Act 1988 o Defective Premises Act 1972 Wrongful accusation of shoplifting Court attendance costs Overseas personal liability Hired, leased or rented premises Personal belongings Indemnity to other persons including directors, employees & principals Cross liabilities Contingent motor liability cover Notable Section Exclusions: Damage to property owned, leased, hired or rented to you Pollution or contamination other than a sudden and unforeseen incident Exposure to, inhalation or the costs of repairing, removing or replacing asbestos

4 Employers Liability (Operative only if stated in the Policy Schedule) This section provides protection for legal liability for damages and legal costs for bodily injury to any of your employees. The limit of indemnity is 10,000,000 (restricted to 5,000,000 in respect of Terrorism). Notable Cover Enhancements: Additional activities Legal costs in respect of o Corporate Manslaughter and Corporate Homicide Act 2007 o Health & Safety legislation Court attendance costs Cross liabilities Indemnity to other persons including directors, employees & principals Injury to working partners Unsatisfied court judgements Notable Section Exclusions: Any liability for which compulsory insurance is required under the road traffic acts Notable Section Conditions: Right of Recovery Notable Policy Exclusions Ownership, use or removal of asbestos or material containing asbestos Exposure to asbestos Loss or damage resulting from biological chemical contamination Damage to any computer equipment caused by a virus or hacking Any cyber loss Loss or damage resulting from the failure to recognise a change of date Loss of or damage to electronic data Diminution of market value Loss or damage resulting from embargo, confiscation, seizure or destruction by order of a government or public authority Loss or damage resulting from mould, mildew, fungus, spores or other micro-organism Any pre existing damage Radioactive contamination Sonic bangs

5 Your Cancellation Rights Cooling off Period You have the statutory right to cancel your policy within 14 days of the purchase or renewal of the contract or the day you receive the policy or renewal documentation, whichever is the later. We will return the premium in full if cancellation occurs within the 14 day period. No refund of premium will be given in the event of a claim either in whole or in part. If you wish to cancel your policy after cooling off period You can cancel the policy at any time, during the first 14 days and the Cooling Off Period terms above apply. To cancel the policy after the Cooling Off Period you will need to contact your broker who arranged the insurance for you. You are entitled to a return of premium which will be based upon the length of time remaining for the period of insurance, less a deduction for any administration costs in providing this insurance. The amount is shown in the schedule. You will be entitled to a refund of any premium paid, subject to a deduction for any time for which you have been covered. This will be calculated on a proportional basis for example, if you have been covered for six (6) months, the deduction for the time you have been covered will be half the annual premium. If there have been claims made or notified and/or paid under the policy which occurred during the period of insurance, We will still be happy to cancel the policy at your request but will not make any refund of premium for the unexpired period of insurance or of any administration fee paid. Our Cancellation Rights We can cancel this insurance by giving you fourteen (14) days notice in writing. We will only do this for a valid reason such as: non payment of premium; a change in risk occurring which means that we can no longer provide you with insurance cover; non-cooperation or failure to supply any information or documentation we request; or threatening or abusive behaviour or the use of threatening or abusive language. If this insurance is cancelled then, provided you have not made a claim, you will be entitled to a refund of any premium paid, subject to a deduction for any time for which you have been covered. This will be calculated on a proportional basis. We will either cancel the insurance by contacting your broker who placed the cover for you or by sending you a letter to your last known address.

6 Notification of New Claims To notify a new claim please follow the steps below: 1. Check the Policy and Schedule to ensure that you are covered. 2. Check the Claims conditions under the Policy. Call our dedicated claims line or claims@onecommercial.co.uk to notify your claim. Alternatively send Your claim details to: One Commercial Limited Cast House Gibraltar Island Road Leeds LS10 1RJ If you are dissatisfied with the way in which a claim or any other matter has been dealt with, please refer to Our Complaints Procedure.

7 Property Owners Policy Summary Unoccupied Property Owners Policy Summary Details about the Regulator, the Coverholder and your Insurers Coverholder One Commercial Limited. Registered in England and Wales Company number Registered Office Cast House, Old Mill Business Park, Gibraltar Island Road, Leeds, West Yorkshire, LS10 1RJ. One Commercial Limited is authorised and regulated by the Financial Conduct Authority. FCA register number is Insurer ProSight Syndicate 1110 at Lloyds. Registered office address: London Underwriting Centre, Level 7, 1 Minster Court, Mincing Lane, London, EC3R 7AA Registered in England and Wales No ProSight Syndicate 1110 is managed by ProSight Specialty Managing Agency Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. FCA register number: The above firms FCA details can be checked on the Financial Services Register by visiting the FCA website: or by contacting the FCA on Compensation Arrangements ProSight Syndicate 1110 at Lloyds are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if any of these companies cannot meet their insurance obligations. This depends on the type of business and the circumstances of the claim. Further information about Compensation Scheme arrangements is available from the FSCS at: or You may write to the Financial Services Compensation Scheme, 10th Floor, Beaufort House,15 St Botolph Street, London EC3A 7QU. Their telephone number is

8 CLAIMS SALES Complaints Procedure It is always One Commercial s intention to provide a first class standard of service. However, if you are dissatisfied with the way in which a claim or any other matter has been dealt with, you should refer to the table below which is designed to help you reach the correct area quickly and easily. Complaints Contact Details Reason for complaint Contact Contact Details If not resolved by the end of the next working day Your complaint will be passed to: Advice or Sales Related All Claims Your Sales Agent/Broker Your claims handler/administrator in the first instance Please refer to Your broker correspondence claims@onecommercial.co.uk One Commercial Limited Cast House Gibraltar Island Road Leeds LS10 1RJ One Commercial Limited Cast House Gibraltar Island Road Leeds LS10 1RJ Should you remain dissatisfied and would like to make a further complaint then can contact: The Compliance Officer, Syndicate Lloyd s Level 7, Building 1 Minster Court, Mincing Lane, London. EC3R 7AA. If you are not satisfied with ProSight s response, or have not heard from them within two weeks, you are entitled to refer the matter to Lloyd s. Lloyd s will then conduct a full investigation of your complaint and provide you with a written final response. If you wish to ask Lloyd s to investigate your complaint you may do so by contacting: Complaints, Lloyd's, One Lime Street, London. EC3R 7AA complaints@lloyds.com Telephone: +44 (0) Fax: +44 (0) Web: If it is not possible to reach an agreement, you may have the right to make an appeal to the Financial Ombudsman Service. You will need to refer your complaint within 6 months of receiving Lloyd s final response. You may contact the Financial Ombudsman Service or obtain further information at: The Financial Ombudsman Service Exchange Tower London E14 9SR Tel Fax: Making a complaint will not affect your legal rights. If you appoint someone to act on your behalf or if you ask someone else to act on your behalf you should provide us with written authority to allow us to deal with them you will pay their costs.

9 Employer s Liability Tracing Office Notice The following information relating to your policy The policy number(s) Employers names and addresses (including subsidiaries and any relevant changes of relevant name) Periods of insurance (if relevant) the employers reference numbers provided by Her Majesty s Revenue and Customs and Companies House Reference Numbers Will be provided to the Employers Liability Tracing Office, (ELTO) and added to the Employers Liability Database (ELD). The above information will be processed by the us for the purpose of providing the information to ELD in compliance with the provisions of the Employers Liability Insurance Disclosure by Insurers Instrument ELTO may provide such information to third parties to assist individuals with claims arising out of the course of their employment in the United Kingdom for employers carrying on, or who carried on, business in the United Kingdom, to identify an insurer that provided employers liability insurance. Instalments If One Commercial have agreed to accept payment of the first premium or any subsequent premium by instalment: this policy remains a contract for the period of insurance if any instalment of premium is not received by us on or before its due date all unpaid instalments of premium and any service fee shall immediately become payable. Should the full premium and service fee not be paid within 7days of One Commercial giving written notice of non-payment of an instalment, this policy shall be cancelled in accordance with the policy terms and conditions. Following cancellation we shall return to you the premium paid less a proportional amount for the time that you have been on cover and less any policy fee. However If a claim has been made under the policy for which we have made a payment, or which is still under consideration, or an incident has occurred which is likely to give rise to a claim but is yet to be reported to us no refund of premiums shall be made and the annual premium remains due in full. In such cases monthly collection must continue or a one-off payment be agreed to settle the outstanding amount. Where a one off payment is not made to settle the outstanding amount you must continue with the instalment payments. Alternatively we may deduct any outstanding instalments from any claim payment that may be due to you or payable on your behalf.

10 Cast House Old Mill Business Park Gibraltar Island Road Leeds West Yorkshire LS10 1RJ t f e. w.