Wedgewood Brokers Ltd
Authorised and Regulated by the Financial Conduct Authority (FCA No: [FCA_NUMBER])
Registered Office: Address pending
Company Number: 12345678
1. About Us
Wedgewood Brokers Ltd is authorised and regulated by the Financial Conduct Authority (“FCA”) to arrange, advise on, deal in and assist in the administration and performance of general insurance contracts.
You can check our details on the FCA Register at https://register.fca.org.uk.
We act as an independent commercial insurance broker serving small and medium-sized enterprises (SMEs).
2. Our Services (SME Commercial Clients)
We act on your behalf when arranging commercial insurance.
Our services may include:
- Assessing your commercial insurance requirements
- Advising on suitable insurance products
- Obtaining quotations from insurers
- Arranging and placing insurance cover
- Mid-term adjustments
- Renewal negotiations
- Claims notification and support
- General insurance administration
We will provide a personal recommendation unless otherwise agreed.
Unless agreed separately in writing, we do not provide formal risk management consultancy, health and safety advice, legal advice, or tax advice.
3. Scope of Advice
Our advice is based on the information you provide and the insurance market available to us at the time.
You are responsible for ensuring sums insured, limits and indemnity periods are adequate. We recommend regular review of business interruption and asset valuations.
4. Your Duty of Fair Presentation (Insurance Act 2015)
For commercial insurance, you must make a fair presentation of the risk. This means you must:
- Disclose every material circumstance you know or ought to know
- Provide information in a clear and accessible manner
- Ensure statements of fact are substantially correct
Failure to comply may result in insurers avoiding the policy, reducing claims, or imposing additional terms.
You must inform us promptly of any material changes.
5. Policy Documentation
We will provide documentation electronically unless otherwise agreed. You must review all documents carefully and notify us immediately of any inaccuracies.
6. Premium Payment
Premiums must be paid by the due date shown on your documentation.
If premiums are unpaid, insurers may cancel your policy.
Where premium finance is arranged, a separate agreement will exist between you and the finance provider.
7. Remuneration
We are remunerated by:
- Commission paid by insurers; and/or
- Fees agreed with you (see separate Fee Agreement Schedule).
You may request details of our remuneration at any time.
8. Client Money
The Firm does not handle client money.
- All premiums are paid directly by clients to insurers or premium finance providers
- The Firm operates on a risk transfer or non-client money basis as applicable
- Appropriate disclosures are made to clients regarding payment arrangements
9. Conflicts of Interest
We maintain procedures to identify and manage conflicts of interest. Where conflicts cannot be avoided, we will disclose them to you.
10. Claims Handling
You must notify claims or circumstances as soon as reasonably possible.
We will assist in the submission and progression of claims; however, insurers determine liability and settlement.
11. Cancellation
You may cancel a policy at any time, subject to insurer terms.
Refunds will depend on insurer conditions and whether a claim has occurred. Our fees may still be payable (see Fee Schedule).
12. Complaints
If you wish to make a complaint, please contact:
Compliance Officer
Wedgewood Brokers Ltd
Address pending
enquiries@wedgewoodbrokers.co.uk
0800 123 4567
If unresolved, eligible complainants may refer the matter to the Financial Ombudsman Service (FOS). Full details are set out in our Complaints Procedure.
13. Financial Services Compensation Scheme (FSCS)
We are covered by the Financial Services Compensation Scheme. You may be entitled to compensation if we cannot meet our obligations. Details are available at www.fscs.org.uk.
14. Data Protection
We process personal data in accordance with UK data protection legislation. Our Privacy Policy is available on request or via our website.
15. Law and Jurisdiction
This Agreement is governed by the laws of England and Wales.
16. Acceptance
By instructing us to act on your behalf, you agree to these Terms of Business and the attached Fee Agreement Schedule.