Introduction

This document sets out the terms of our relationship with you (our ‘Client’) and the services offered by rewardsme business insurance services.

rewardsme business insurance (rewardsme) is a trading name of Kingsbridge Risk Solutions Limited (KRS). KRS is authorised and regulated by the Financial Conduct Authority (FCA). KRS is permitted to advise on, and arrange, General Insurance Contracts and its FCA Firm Reference Number is 309149.

Our name, address and status may be checked at the FCA’s website at www.fca.org.uk/register or by phoning 0800 111 6768.

Kingsbridge Risk Solutions Ltd (fca.org.uk)

KRS is an independent insurance intermediary and risk management consultancy. Our aim is to provide solutions to your insurance needs in a timely and professional manner. We advise on all types of non-investment general insurance products and we are not tied to any one insurer. Where we offer policies as part of specific schemes, we act as an agent of the insurer. We follow the rules and principles established by the FCA for our general business activities.

From time to time rewardsme may need to update these Terms of Business Agreement to reflect changes in the legal and regulatory environment in which we operate and to ensure that any pertinent information remains current.

Current versions of this document are available on our website (https://rewardsme.co.uk/terms-of-business/) and can be sent to you on request.

Our Responsibilities

1.0 Preparation/gathering information

We will act as your agent and provide a quote based on your business needs/requirements as stated by you. rewardsme business insurance policies are purchased online on a non-advised basis, meaning it is up to you to decide if the policy is suitable for your business. We provide information on the proposed cover, its benefits, restrictions, exclusions and conditions, online on our website rewardsme.co.uk/ and through our website live chat service.

1.1. Placing insurance

We will confirm cover arranged on your behalf in writing and identify the insurer(s). If we are unable to fulfil your instructions, for any reason, we will bring this to your immediate attention.

1.2 Market security questions (you may have on the proposed cover)

We will assess the financial soundness of the proposed insurers in conjunction with your quote using public information including that provided by recognised rating agencies. However, we will not in any circumstances guarantee or otherwise warrant the solvency of any insurer or market.

As a consequence, the decision regarding the suitability of any insurer rests with you. If you have any concerns regarding any insurers chosen for your insurance requirements you must inform us as soon as possible and we will discuss them with you. You can contact us by email gethelp@rewardsme.co.uk.

1.3 Documentation

We will send you documentation confirming the basis of cover secured on your behalf, including details of the insurers, with confirmation of receipt of payment, where applicable, showing separately all amounts payable. We will send you any policy documents and, if applicable, any amendments or endorsements to your policy, as soon as reasonably practicable once you have purchased your policy, by email.

Your policy documents will also be available online via the rewardsme member portal.

1.4 Claims

Except where we agree with you, or because insurance market practice determines otherwise, we will provide our claims handling services during the policy period for the policies placed by us. Our claims handling services include, upon us receiving the required information from you, the notification of the claim or circumstances to insurers, representing you in the resolution of the claim and arranging the collection and/or settlement of the claim in accordance with market practice and policy terms and conditions. Where claims are to be dealt with by you with insurers directly we will provide guidance and support as requested.

Where we collect claims payments these will be remitted to you as quickly as possible. However, we will not remit claims money to you before we have received it from insurers.

1.5 Electronic communications

We may communicate with each other by electronic mail, sometimes attaching further electronic data, where we have each expressed a wish for that to happen. By consenting to this method of communication, you and we accept the inherent risks (including the security risks of interception of or unauthorised access to such communications, the risks of corruption of such communications and the risks of viruses or other harmful devices).

Notwithstanding that we and you have reasonable virus checking procedures on our systems, you will be responsible for virus checking all electronic communications sent to you. You will also be responsible for checking that messages received are complete.

In the event of a dispute neither of us will challenge the legal evidential standing of an electronic document and our system shall be deemed the definitive record of electronic communications and documentation.

Your Responsibilities

2.0 Quote information

You will be required to answer questions relating to your business in order for us to generate a quote for your cover. We are not able to answer any questions about your business on your behalf. We provide a non-advised insurance sale which means that it is up to you to decide if the policy is suitable and meets your requirements.

2.1 Disclosure of information

You are responsible for providing us with the information we request from you to enable us to seek the cover sought. We will not be responsible for any consequences, which may arise, from the delay or failure by you to do so. You remain responsible for any decisions you make.

All information which is material to your cover requirements or which might influence insurers in deciding to accept your business, finalising terms to apply and/or the cost of cover, must be disclosed.

You must make adequate enquiries within your business to identify and verify information relevant to the risk(s) concerned.

This requirement to make a fair presentation of risk applies equally at renewal of your policies and on taking out new insurance policies. The requirement is satisfied if all material circumstances are disclosed by you, or sufficient information is provided to put the insurer on notice to make further enquiries.

Please gethelp@rewardsme.co.uk if you have any doubts about what is material or have any concerns that we may not be aware of material information.

2.2 Your policy

You are responsible for reviewing the details of insurance cover to confirm that it accurately reflects the cover, conditions, limits and other terms that you need.

You must read the policy conditions and warranties, as failure to comply may invalidate your cover, and the claims notification provisions.

If there are any discrepancies, you must contact us at

Claims may be made against a policy long after its expiry date. It is important therefore, that you keep your policy documents in a secure place.

2.3 Claims

You are responsible for notifying claims or potential circumstances that may give rise to a claim. To ensure full protection under your policy you should familiarise yourself with cover conditions or other procedures immediately relating to claims and the notification of those claims. Failure to adhere to the notification requirements, particularly the timing of notification, as set out in the policy document, may entitle insurers to deny your claim. In presenting a claim it is your responsibility to disclose all facts which are material to the claim.

2.4 Changes in circumstances

You must advise us as soon as you can of any changes in your circumstances that may affect the services to be provided by us or the cover provided under your insurance policy.

2.5 Automatic renewal

Your payment details will be securely stored to enable continuous payment authority. We may use these details to automatically renew your Policy next year. This applies to payments by Direct Debit, Debit or Credit Card.

If we use automatic renewals we will ensure that you are sent a renewal invitation before taking any payment. It is your responsibility to inform us if your circumstances change or you do not wish us to automatically renew your Policy.

Provision of information

All activities undertaken by us as outlined in this document are provided by us for your exclusive use and all data, recommendations, proposals and other information provided by us in connection with our services are for your sole use.

This does not apply in relation to the provision of a confirmation of cover letter or other such document.

Payment of premium

You accept that the settlement of all monies due in accordance with the provision of this policy is at the point of purchase. Failure to meet the payment terms may lead the cancelling of your policy. In the event of non-payment we are under no obligation to pay a premium by the payment date to insurers on your behalf.

Client monies

We will hold client monies (generally premium and claims monies we receive and hold on behalf of our clients in the course of carrying on insurance distribition activities) in segregated non-statutory trust accounts, established and maintained in accordance with Client Assets rules of the FCA, or as designated client money investments permitted by the rules.

Where we consider it appropriate, the rules permit us to use monies from our non-statutory trust accounts for short-period funding of premium and claims settlements on behalf of clients.

We will retain for our own use, any interest we earn on client monies passing through our bank accounts and any investment returns we make on permitted designated investments.

In certain circumstance, we may receive and hold insurance monies as agent for the Underwriter(s), for example where business is accepted under a binding authority. Client Assets rules allow such insurance monies to be co-mingled with client monies subject to certain criteria being met, including but not limited to those that Underwriters rank as a second preferred creditor in the event of a default.

Our remuneration

Our remuneration will be a commission, which is a percentage of insurance premiums, paid by you and allowed to us by the insurer with whom the insurance contract is placed. We may also receive commission for any finance agreement entered into by you for the payment of your premium. You have the right to request details of all insurance commissions earned by us. If appropriate, and with your consent, we may receive a fee and commission.

Other revenue

We provide services to insurers that are not directly related to the services provided to you and we receive usual and customary remuneration in recognition of those services. This remuneration may be revenue based upon the volume or profitability of insurance business placed with a given insurer over a specified period. These payments recognise the services we provide to the insurer over that given period. It may be appropriate and for your benefit for us to use another Intermediary to assist us in fulfilling your insurance requirements. These companies may receive usual and customary remuneration for the services they provide.

Confidentiality

We will treat any information in our possession which relates to your business as confidential and, where relevant, in accordance with data protection legislation.

It will be necessary, however, for us to disclose information that you consider confidential to insurers or other parties, when acting on your behalf, where we reasonably consider such information to be material to the risks being covered. Likewise, we may disclose to third parties certain industry wide statistics or other information, which may include information relating to you.

Any sensitive information will be handled appropriately and personal information will not be used or disclosed unless we have consent or we have another lawful basis to use or disclose it under data protection legislation.

In the course of arranging payment schemes with payment providers we will pass relevant information to them. Payment providers may pass information about your payment record to credit reference agencies.

For further information on how we handle, process and store personal information about individuals whose data you provide to us, including information about their rights and the parties we may share such personal information with

See our privacy policy which can be accessed on our website (https://rewardsme.co.uk/privacy-policy/)

Alternatively, write to

Group Compliance Manager
9 Miller Court
Tewkesbury
Gloucestershire
GL20 8DN

or send your enquiry to gethelp@rewardsme.co.uk

Complaints

The full complaints procedure can be found in the policy wording and further details can be found online at rewardsme.co.uk/complaints/

However, many concerns can be resolved straight away, therefore in the first instance for a complaint concerning a claim decision or your policy please get in touch with:

Complaints Manager
First Underwriting Ltd
The Gherkin
30 Saint Mary Axe
London
EC3A 8EP
Email: fulcomplaints@firstuw.com 
Tel: 020 7655 8035

If you have a concern about the service provided by rewardsme, please get in touch with:

rewardsme
9 Miller court
Tewkesbury
Gloucestershire
GL20 8DN
Web: https://rewardsme.co.uk/contact-us/ 
Email: complain@rewardsme.co.uk 
Tel: 01684 217141

The UK Financial Ombudsman Service (UK FOS)
If you feel that your complaint has not been satisfactorily resolved, you may be eligible to contact the UK FOS to review the complaint. Information about the eligibility criteria is available on the UK FOS website:
https://www.financial-ombudsman.org.uk/

Financial Services Compensation Scheme (FSCS)
You may be entitled to compensation from the FSCS if we are unable to meet our obligations under the policy. Further information is available from their website:
https://www.fscs.org.uk/

Professional Indemnity Insurance

rewardsme maintain Professional Indemnity Insurance, as required by the FCA governing our business practices, and our liability is limited to liability for direct losses arising in contract except where death or personal injury arises from our negligence or as otherwise preserved under statute.

Termination

Our services may be terminated either by us or you upon the giving of one month’s notice in writing to the other or as otherwise agreed. In the event our services are terminated by you, the cancellation conditions of your policy will dictate whether any return premium is due. Please ensure that you familiarise yourself with the cancellation conditions and procedures outlined within your policy wording.

Conflicts of Interest

We are committed to the identification and fair management of any conflict(s) of interest which may arise in the provision of our services. We will endeavour to identify and manage conflicts of interest fairly, both between us and our clients and any other parties, and between any clients. Our conflicts of interest policy is available upon request.

Third Party Rights

Unless otherwise agreed between us in writing, no terms of this Agreement is enforceable under the Contracts (Rights of Third parties) Act 1999.

Governing Law

This Agreement, which sets out the terms of our relationship with you, will be governed and construed in accordance with English Law and any dispute arising under it shall be subject to the exclusive jurisdiction of the English Courts.

Contact details

rewardsme
9 Miller Court
Tewkesbury
Gloucestershire
GL20 8DN

phone: 01684 217141
web: rewardsme.co.uk
email: gethelp@rewardsme.co.uk