Terms of Business
As Authorised & Regulated by the FSA
Nash Warren Insurance is an Independent Intermediary & acts
as your agent & accepts responsibility for advice given in
arranging your insurance. We represent a number of Insurers &
are authorised and regulated by the financial services
authority.
Third party liability is no longer unlimited but restricted to
£20m.
We are authorised and regulated by the Financial Services
Authority - our Firm Reference Number is 466459. For further
information you can log onto the website at www.fsa.gov.uk.
Complaints
If you wish to register a complaint in the first instance please
contact Mr Phillips, either in writing, by phone or in person. If
you cannot settle your complaint with us you may be entitled to
refer it to the Financial Ombudsman Service. We are covered by the
Financial Services Compensation Scheme. You may be entitled to
compensation from this scheme if we cannot meet our obligations.
This depends on the type of business and the circumstances of the
claim. For compulsory classes of Insurance advising and arranging
is covered for 100% of the claim without any upper limit. Monies
that are held in trust by Nash Warren are held on a 'Risk Transfer
Basis' whereby monies are co-mingled with other Insurers
monies.
Duty of Disclosure
You are reminded of the importance of disclosing in writing all
information relevant to your insurance. If you are in any doubt as
to whether something is relevant you should disclose it. We would
particularly draw your attention to the importance of the
Declaration and signature at the bottom of the form. Any failure to
disclose facts material to the Insurance or any inaccuracies in
your answers could invalidate the cover. All answers given by you
are your responsibility. This duty applies at all times, including
when renewing a policy. Insurers exchange information for the
purpose of monitoring and prevention of fraudulent claims.
Driving other cars/motorcycles extension
(motor/motorcycle policies only)
Where the above extension is granted on your policy (this will be
detailed on your insurance certificate and, as such, proof of such
cover will only be available when you are in possession of your
certificate) the cover will be third party only and we would stress
that where this extension applies it is in respect of the
policyholder only and not any other drivers on the policy.
Early cancellation of policies
You have the right to cancel this insurance. The cancellation
period is 14 days. We must advise that Insurers are entitled to
charge for cover provided and this charge will normally be on a pro
rata basis and we will normally charge our standard fee detailed
below. You must return your insurance certificate or cover note and
any monies paid to you by your insurance company. In the event of
early cancellation of your policy after the statutory period of 14
days short period charges will apply, along the following
guidelines as a % of premium payable (subject to no claims on the
policy)plus our charge, see below:
| 1 month |
2m |
3m |
4m |
5m |
6m |
7m |
8m |
over 8 months |
| 25% |
30% |
40% |
50% |
60% |
70% |
80% |
90% |
full premium |
We can only cancel the policy for you on receipt of your written
instructions and the return of the current insurance certificate.
Cancellation will take effect from the date we receive these
items.
If payment of premiums is to be collected via credit or debit
card, in the event of cancellation you agree to give authority to
Nash Warren to collect any shortfall in premiums from the card
information provided.
Total loss claims
All Insurance companies reserve the right to cancel the
insurance policy without refund of premium in the event of them
paying a claim on a total loss basis. All claims should initially
be reported to us.
Unless you have an agreed value policy, all claims will be settled
on a market value basis, not exceeding the declared vehicle
value
Charges
Certain policies will attract fees dependent on the amount of
work involved in arranging cover. These will be advised to you and
shown on receipts. In all cases we make the following charges in
addition to the Insurance Premiums:
- Cheques returned unpaid by your
bank.....................£30.00
- Fee applicable to all policies .............5% of total premium
(min £5)
- Policy
adjustments/cancellation..........................£30.00
- Provision of duplicate certificates/cover notes for taxation
purposes where a policy has already been
issued.........................£10.00
- Instalments...........10 % of premium subject to minimum £5 per
instalment
Instalments are due monthly, the deposit being paid at inception
then at 30 day intervals for the agreed period of instalments. The
maximum number of instalments under this scheme, including the
deposit, is 4. We will retain your insurance certificate pending
payment of all instalments.
In the event of a claim, regardless of circumstances we will
require settlement of any outstanding instalments or premiums
immediately.