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Terms of Business
JBI International Insurance Brokers Ltd is authorised and regulated by the Financial Services Authority (FSA). Our FSA Register number is 308981.
Our permitted business is advising, arranging, dealing as agent and assisting in the administration and performance of general insurance contracts.
You may check this on the FSA’s register by visiting the FSA website, http://www.fsa.gov.uk/Pages/register/ or by contacting the FSA on 0845 606 1234.
Our Service
Our role is to advise you and make a suitable recommendation after we have assessed your needs. In situations where we are able to arrange insurance for you but do not offer advice, we shall confirm the position to you in writing. We will not in any circumstances act as an insurer nor guarantee or warrant the solvency of any insurer.
Personal insurances:
 |  | | We select travel insurance products from a range of insurers. | | | | We select wedding insurance from a range of insurers. | | | | We offer overseas personal possessions and home contents insurance only from John Wason (insurance brokers) Ltd who place cover with certain underwriters at Lloyds of London. | | | | We only select income protection insurance from a limited number of insurers. You may ask us for a list of the insurers we deal with for these products. | | | | We only select home insurance from a limited number of insurers. You may ask us for a list of the insurers we deal with for these products. | | | | We only select let property products from a limited number of insurers. You may ask us for a list of the insurers we deal with for these products. | | | | We only select life insurance from a limited number of insurers. You may ask us for a list of the insurers we deal with for these products. | | | | We offer pet insurance products only from AXA UK plc. | | | | We offer kit insurance products only from AXA UK plc. | | | | We only select health insurance from a limited number of insurers. You may ask us for a list of the insurers we deal with for these products. | | | | We offer landlords emergency home assistance, legal protection and rent guarantee insurance only from Inter Partner Assistance S.A. |
Commercial insurances:
| | | We select commercial insurance products from a range of insurers but, for certain products, we may only deal with a single insurer or select from a limited number of insurers. |
Where we only select from a single or limited number of providers, this will be made clear to you in our quotation. In these circumstances, you may ask us for a list of the insurers we deal with for these products.
Complaints and compensation
We aim to provide you with a high level of customer service at all times, but if you are not satisfied, contact us;
In writing..........
Write to The Managing Director, JBI International Insurance Brokers Ltd, Hercules House, Calleva Park, Aldermaston, Reading, Berkshire,
RG7 8AR
By phone..........
Telephone 0118 981 0222 and ask to speak to Jeremy Wood, Operations Manager.
If you are still not satisfied, you may refer the matter to the Financial Ombudsman Service (except in the case of commercial customers with a group annual turnover of £1m or more, or trustees with a net asset value of £1m or more).
We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of insurance, size of the business (if a commercial customer or charity) and the circumstances of the claim. Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim without upper limit. Further information about compensation scheme arrangements is available from the FSCS.
Payment for our services
We normally receive commission and profit share bonuses from the insurers or product providers and make charges for handling your insurances as follows;
Kit insurance £24.00 annual fee (£2 per month for policies paid monthly)
Pet insurance £24.00 annual fee (£2 per month for policies paid monthly)
Let property insurance new business £15.00 annual fee
Let Property insurance renewals £10.00 annual fee
Let Property insurance mid-term adjustments £10.00 fee per adjustment
Landlords emergency home assistance, legal protection and rent guarantee mid-term adjustments £10.00 fee per adjustment and £10 fee for each policy cancellation
You will receive a quotation which will tell you the total price to be paid, showing any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded.
For payment by credit card a surcharge of 1.5% is added. If the option to pay monthly by Direct Debit is offered, we will provide full details regarding the terms of credit at the point of quotation and with your new policy documents if the quotation is accepted.
In the event that you request the cancellation of a policy arranged through ourselves, we may retain any and all fees or brokerage payable. Please refer to the Termination of Authority and Cancellation of Insurances sections for further information.
Handling client money and/or Insurer money
Our financial arrangements with most insurance companies are on a ‘risk transfer’ basis, which means that we hold premiums and refunds due to clients on behalf of the insurance undertaking concerned and under a risk transfer agreement. Such monies are deemed to be held by the insurer(s) with which your insurance is arranged. If risk transfer does not apply such monies will be held by us in a statutory client trust account set up in accordance with FSA rules.
For the purpose of some transactions, client money may pass through other authorised intermediaries.
Interest will not be paid to customers in respect of money held in client trust accounts.
Cancellation of Insurances
You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance should be returned to us or to the insurer concerned. 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.
Conflict of interests
Occasions can arise where we or one of our clients or product providers will have a potential conflict of interest with business being transacted for you. If this happens and we become aware that a potential conflict exists, we will write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment.
Termination of authority
You may terminate our authority to act on your behalf with 14 days notice or as otherwise agreed without penalty. Notice of this termination must be given in writing and will take effect from the date of receipt. Termination is without prejudice to any transactions already initiated which will be completed according to these terms of business unless otherwise agreed in writing.
Your responsibilities
You are responsible for providing the complete and accurate information, which insurers require in connection with any proposal for insurance cover. This is particularly important before taking out a policy and at renewal, but it also applies throughout the life of a policy. If you fail to disclose any material fact or other information material to the insurance this could invalidate the policy and mean that claims may not be paid. You should check all details on any proposal form or Statement of Facts and pay particular attention to any declaration you may be asked to sign.
You should read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply. Particular attention should be paid to any warranties and conditions as failure to comply with them could invalidate your policy.
You should inform us immediately of any changes in circumstances that may affect the services provided by us or the cover provided by your policy.
If you are unsure about any matter, please contact us for guidance.
Confidentiality of personal data
We will process any personal information we obtain in the course of providing our services to you in accordance with the Data Protection Act 1988. In administering your insurances it will be necessary for us to pass such information to insurers and other product or service providers. We may also disclose details to relevant parties, as necessary, to comply with regulatory or legal requirements. We may contact or pass your details to other companies associated with us in order to promote products or services which may be of interest to you. We will not otherwise use or disclose the personal information we hold without your consent.
Some of the details you may be asked to give us, such as information about offences or medical conditions, are defined by the Act as sensitive personal data. By giving us such information you signify your consent to it being processed by us in arranging and administering your insurances.
Subject to certain exceptions, you will be entitled to have access to your personal and sensitive personal data for which you may be charged a fee. If at any time you wish us or any company associated with us to cease processing any of the personal data or sensitive personal data we hold, or to cease contacting you about products and services, please write to Jeremy Wood, Operations Manager, JBI International Insurance Brokers Ltd, Hercules House, Calleva Park, Aldermaston, Reading, Berkshire, RG7 8AR.
Claims handling arrangements
You should take note of the required procedures in the event of a claim, which will be stated in the policy documentation. Generally, the insurers require immediate notification of a claim or circumstances that might lead to a claim. We will employ due care and skill if we act on your behalf in respect of a claim.
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