Your insurance is based upon the information provided by you, to us and the insurance company.
A Retail customer means an individual who is acting for purposes which are outside of their trade, business, or profession.
Material Facts and Disclosure for Retail Customers:
Retail customers such as individuals purchasing home, car, or life insurance, are subject to the “duty of utmost good faith” under the Consumer Insurance (Disclosure and Representations) Act 2012.
Retail customers have a responsibility to take reasonable care and, when asked, to answer all questions fully and accurately before buying an insurance policy, throughout the life of the policy and when renewing that policy. If they have made a deliberate, reckless or careless misrepresentation, insurers may have the right to change the terms of the insurance, reduce or refuse to pay a claim, or in some circumstances may be able to treat the policy as if it is never existed and at the same time keep the premium paid, meaning any claims would not be paid and you would not get your money back.
All statements and material facts disclosed on proposal forms, statements of fact, claims forms and other documents should be full, true, and accurate. Material facts are those that would influence an insurer in deciding whether to accept a risk and the terms and conditions they would apply. Where forms are completed or partially completed by us or anyone else, the customer is responsible for checking them for accuracy before accepting. If any customer is in any doubt as to whether a fact is relevant, they should disclose it and then ask for guidance.
A Commercial customer means anyone who is not a Retail Customer.
Material Facts and Disclosure for Commercial Customers:
Commercial customers must ensure that the information given to us to pass on to insurers is a “fair presentation” of the risk.
This means that they must present the risk (i.e. the subject matter of the proposed insurance) fairly. They must disclose all material facts to insurers, before the setting up or renewal of any insurance policy, anything that might influence the judgement of an insurer in fixing the premium, setting the terms, or determining whether they would take the risk.
Material facts include:
Disclosure is generally based on the “duty of fair presentation” under the Insurance Act 2015.
If you are uncertain whether anything is material, you should disclose it. To identify what must be disclosed, you are obliged to carry out a reasonable search before presenting the risk to insurers. This includes (but is not limited to) consulting with all senior managers. A senior manager is anyone who plays a significant role in the making of decisions about how your activities are to be managed or organised, regardless of whether that individual is a member of your board or is formally in a management role. You must also consult with anyone who has knowledge about the risk to be insured.
Remedies for non-disclosure
If you deliberately or recklessly (i.e. without care) fail to comply with your obligations to present the risk fairly, insurers may avoid the policy. This means they can retain all premiums and treat the policy as if it never existed and refuse to make any claims payments. You could also be obliged to repay any claims payments that had already been made.
If you fail to present the risk fairly, but your failure was neither deliberate nor reckless, insurers’ response will depend upon what would have happened if you had complied with your obligations:
a) if insurers would not have provided the policy, they may treat the policy as if it never existed, refuse to make any claims payments, and demand the return of any claims payments already made. However, insurers would have to return any premium payments already made.
b) if insurers would have provided the policy but on different terms, the policy will remain in force but will be treated as if those different terms applied from the start of the policy. This could result in a claim not being met in part or in full.
c) if insurers would have provided the policy but charged a higher premium, insurers may reduce any payment in proportion to the difference between the premium charged and the premium that would have been charged if you had fairly presented the risk. This could significantly reduce any claims payment.
It is the customers responsibility to read all documentation upon receipt and raise any query regarding it. As brokers we do not always have first-hand or intimate knowledge of the risks. You must immediately contact us if your cover notes or Certificate of Insurance expires is lost or stolen as no cover may exist until written or documentary confirmation of cover has been received by you.
Please read this document carefully. It sets out the terms on which we agree to act for you, our client, and contains details of our regulatory and legal responsibilities. If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you, please contact us immediately. By doing business with us you agree to do so on the terms of this document unless we both agree otherwise.
Infinity Risks Ltd are an independent insurance intermediary committed to providing independent advice service and products from a broad range of insurers. We are authorised and regulated by the Financial Conduct Authority, (FRN 933869). Infinity Risks Limited is registered in England No: 12812415. Registered office address: 71-75 Shelton Street, London WC12 9JQ.
Infinity Risks Limited and any trading styles shall be referred to throughout these terms and conditions as the “the company, us, our, we”.
Our authorisation including any trading names, and our permitted activities as an insurance intermediary include arranging general insurance contracts. You can check this on the Financial Services Register by visiting the FCA’s website https://register.fca.org.uk or by contacting the FCA on 0800 111 6768.
The FCA is the independent watchdog that regulates financial services.
We will make a recommendation for you after we have assessed your needs, this will include the type of cover you seek together with the costs. Where we are not able to give you a recommendation, we may ask you some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice on how to proceed. Where we do not offer a recommendation, we will make you aware of this. Our service includes arranging your insurance cover with insurers to meet your requirements and helping you with any ongoing changes you make. We will advise you of any inability to place your insurance.
As an independent insurance intermediary, we usually act as the agent of our client. We are subject to the law of agency, which imposes various duties on us. However, in certain circumstances, we may act for and owe duties of care to other parties. We will advise you when these circumstances occur so you will be aware of any possible conflict of interest. We will inform you prior to placing your cover(s) of the capacity in which we are acting on a policy-by-policy basis.
Along with the FCA, we aim to achieve the following outcomes through the Treating Customers Fairly initiative:
Our customers will always deal with a company that take your fair treatment seriously – it is part of our culture.
We make sure any products and services we market and sell to our customers are those designed to meet their needs.
Our customers will be provided with clear information and will be kept informed during every stage of the sale.
Any information given to our customers will be suitable, relevant and consider any individual circumstances.
Products and services you receive will perform as our customers have been led to expect by us and our services to you will be of an acceptable and professional standard.
There will be no post-sale barriers if our customers wish to change product, switch provider, make a claim or make a complaint.
We ensure these outcomes by making sure all our staff completely understand the Treating Customers Fairly concept and offering a robust training scheme to enable them to develop the skills to provide the excellent and personal service we pride ourselves in.
We will always deal with enquiries expeditiously and with a service standard a customer would reasonably expect to receive.
Our company ethics and culture towards customer service means that we never deliberately put ourselves in a position where our interests or our duty to another party prevents us from discharging our duty to you.
We seek to avoid conflicts of interest in the conduct of our business and have procedures in place to deal with possible conflicts of interest that may arise when dealing with you. For example, occasions may arise where we, or one of our other clients, will have some form of interest in business which we are transacting for you. Also, in certain circumstances, we may act for and owe duties of care to other parties.
We will ensure that any conflicts of interest that may arise in relation to the performance of our obligations under this agreement are identified, openly resolved, and clearly understood by all parties.
We will notify you immediately when and if a conflict should occur and if it is particularly complex or difficult to manage, we will agree with you the best way forward.
Prior to placement of your insurance, we will inform you of the basis of our market selection and where a fair and personal analysis has not been undertaken, we will provide you with a list of the insurance undertakings with whom we may and do conduct business. Unless notified to you, we are not under a contractual obligation to conduct business exclusively with one or more insurance undertakings although on some occasions we may offer cover from only one market. To assess the insurance product that most suits your needs, we may use another intermediary to help place your business and we will inform you when this is the case.
We provide a wide range of both “retail customer” and commercial insurance products and provide information based on a fair analysis of the market from a wide range of insurers.
Most of these products are clearly set out on our website. When we provide a quotation to you, we will provide details of the insurer as well as all the terms and conditions relating to the product.
Any additional policies we sell in conjunction with your main policy are linked and may be cancelled in line with the main one and these additional products may be non-refundable. We provide insurance products from a range of insurers. We can provide a list of these insurers on request.
We carry out regular checks on all insurance markets used but are unable to guarantee the continuing solvency of any insurer, underwriter, or wholesaler. Liability for the premium, whether in full or pro rata, may arise under policies where a participating insurer becomes insolvent. An insolvent insurer may also be unable to meet a proportion or all of any claim made. Consequently, whenever possible we recommend insuring with companies with the highest credit ratings. Should you be concerned or require further information regarding your insurer then we will discuss this with you on request.
If you have occasion to make a claim on your policy, you must notify us immediately and we will promptly advise you and, if appropriate, issue you with a claim form and pass details to your insurer.
You must continue to make your monthly payments for your insurance, if applicable.
We reserve the right to withhold payment in respect of claims, if payment of any premiums to us is in default. You may be required to pay any outstanding premium to make a claim where you are paying your premium by monthly payments.
We will receive our remuneration via one, or a combination of, the following methods:
Any applicable insurance premium tax will be shown on the documentation we provide to you.
In addition to premiums and administration fees charged by insurers and the finance provider, we normally make the following charges to cover the administration of your insurances:
Setup fee for arranging a policy (which is non-refundable) up to £50
Renewing policy up to £50
Adjustments from any non-disclosed or misrepresented information: £25
Changes to a policy up to £25
Collection of debts £35
Processing uncleared cheques: £30
Policy cancelled before inception £10
Policy cancelled for any reason £25
(This is in addition to set up fee, adjustment fees and insurers charges for time on cover)
We reserve the right to charge you £15 if you issue a cheque to us which does not clear on the first presentation. Our minimum refund is £5.00, anything under this will be retained and not refunded to you.
We usually receive a commission from the insurer, which is proportionate to the insurance premium. Occasionally we may arrange a policy on which we earn no commission, and, in these cases, we will advise you of the proportionate fee before you take the policy out.
Your insurer may make a charge for any amendment or cancellation made to your policy in addition to any increase in premium and our midterm adjustment fee.
Where applicable, all refunds will be processed to the last card used under your account up to the amount debited, any balance thereafter will be issued to you using any previous card or failing this via cheque.
You should not take out a new policy if you have an existing debt with us. If your new policy is cancelled as a result, we reserve the right to offset the cancellation refund against the equivalent value of the debt.
There may also be occasions when an additional fee is sought, for example a risk that requires significant further advice and placement of additional coverage or substantial involvement in any large, difficult, or complex claims.
We may occasionally receive additional remuneration from insurers, claims management providers and others. For example, insurers may pay us a profit commission under a delegated underwriting authority or other facility, or individual contract in recognition of overall profitability. Insurers may also pay us for ancillary services provided solely on their behalf.
We may also earn income from arranging premium finance. Where you choose to pay your premium by instalments, we may use a scheme operated by your insurer, or we may use a single Finance Provider. Where we arrange premium finance on your behalf, we are paid commission for our assistance in putting this financing in place. We will advise you of any commission payable by the Finance Provider in relation to a credit agreement where knowledge of the existence or amount of commission could affect our impartiality in recommending a particular product or that may have a material impact on your transactional decision.
Our current Finance Provider is Close Brothers Group Plc referred to as Close Brothers.
You are entitled at any time to request further information regarding the amount of any remuneration which we may have received because of placing or renewing your insurance cover. To the extent that this is not possible for an amount to be given, we will provide the basis for its calculation.
Where a policy is cancelled before renewal, insurers charge to cover their costs, with the balance refunded to you, subject to no claim having been made. Full details will be available in your policy. In the event of an adjustment giving rise to a return of premium the amount may be refunded or held to credit.
Your attention is specifically drawn to the following: Where you cancel your policy after the expiry of the cooling off period or where you request a mid-term adjustment which results in a refund of premium, we may retain an amount that reflects our administrative costs of arranging and cancelling the insurance, and we reserve the right to retain our brokerage fees and commission in full. This will usually result in us reducing the amount refunded to you. Any charge made will be highlighted to you.
For certain insurance policies, insurers will only provide cover where the premium is due in full on inception of the policy this policy is normally called a minimum deposit premium. This means that no refund will be paid if the policy is cancelled before renewal. We will advise you if this affects you. Bank details may be retained for the purposes of refunds and claims payments that may be made by BACS.
We have agreed with certain insurers to collect and hold premiums from you as agents of those insurers. Therefore, once we have collected premiums from you, under the terms of our agreements with insurers those premiums are treated as being held by the insurer. It will not be Client Money but will be insurer money, held and managed in the same way as Client Money and in the same Statutory Trust Client account. We will remit the premiums to insurers, after deduction of any commission due to us, in accordance with the terms of our agreements with insurers. Whilst this arrangement, known as Risk Transfer, affords you extra protection in the event of our financial failure, it does mean that in the event of insurer insolvency we would not be permitted to return any premiums not remitted to insurers at the date of their insolvency. Similarly, if we were holding claims monies due to you in such an eventuality, we would not be able to remit them to you.
Retail customers usually have the legal right to cancel a policy within 14 days of receiving the full policy terms and conditions, although this timescale may vary depending on the type of policy purchased and this will be clarified in your policy document. The right to cancel also depends upon a claim not having occurred and the performance of the policy not being complete.
This right does not usually apply to policies of less than one month in duration, such as short-term travel insurance and you should presume as such unless informed in writing by us to the contrary. You must contact the office from where you purchased your cover within the 14-day period where the Right to Cancel applies. Insurers may return a proportion of the premium to us, less any reasonable cost incurred in providing the cover.
We reserve the right to retain any charge including administration charges in relation to the time the policy was in place and to make reasonable charges for any additional administration incurred. These charges will be notified to you prior to them being levied. In the case of cancellation after the Right to Cancel period where a Right to Cancel period does not usually apply (refer to your policy document for clarity) please note the following:
If you fail to pay your premium by the due date, the insurance may be cancelled forthwith, or by insurers giving notice of cancellation. If you pay by instalments, there is the possibility that the amount paid prior to the cancellation date may not cover the overall amount due up to the date of cancellation.
If you wish to cancel your policy, please call us first to discuss this. It may be necessary for you to send us your cancellation request in writing before we can cancel your policy.
Any refund will be offset against any outstanding Direct Debit payments. Where the amount that you owe exceeds the amount that you have paid, you will be required to make payment for the outstanding amount straight away. Failure to do so may result in us or the finance provider taking steps to recover the debt. Once your policy has been cancelled, it is your responsibility to cancel any direct debits with Close Brothers or any other Finance Provider.
We are the Agent of Insurers for the purpose of collection of premiums and refunds of premiums. This means that premiums are treated as being received by the insurer when received in our bank account and that any premium refund is treated as received by you when it is actually paid over to you. We normally accept payment by any of the major debit/credit cards or BACS.
Your debit or credit card information will be replaced by a secure token so we can use the same card to take payments for automatic renewals and to pay or refund other premiums that may become due upon changes to the policy.
If you take a new policy out with us and make a payment towards this new policy but have a previous policy with ourselves that has an outstanding balance, we reserve the right to transfer any money paid on the new policy to cover the debt outstanding on your previous policy.
The following refers to policyholders over the age of 18 years. Policyholders under the age of 18 years are not eligible to enter into a credit agreement and will require a parent or guardian to do so on their behalf.
The parent or guardian will be subject to the data sharing, credit and money laundering checks as stated below.
For the purposes of introducing customers to premium finance facilities we deal exclusively with Close Brothers. If you pay using premium finance, you will end up paying more than paying for your policy in one single payment. Finance is subject to status. Your data will be shared with Close Brothers who will assess your creditworthiness using a range of tools to carry out anti-money laundering checks and credit assessments. Your application will include a search of your records at a credit reference agency.
Any finance taken with Close Brothers is a credit agreement between you and Close Brothers and is separate to the insurance policy. Close Brothers will contact you with full details of your credit agreement. As this is in effect a loan for the premium, this agreement should not be cancelled until the loan has been fully repaid to Close Brothers, even if your insurance policy has been cancelled. If any Direct Debit or other payment due in respect of the credit agreement you enter with Close Brothers to pay insurance premiums is not met when presented for payment, or if you end the credit agreement with Close Brothers, or if you do not enter into a credit agreement with Close Brothers we will be informed of such events by Close Brothers. If you do not make other arrangements with us to pay the insurance premiums you acknowledge and agree that we may, at any time after being so informed, instruct on your behalf the relevant insurer to cancel the insurance (or, if this occurs shortly after the start or renewal of the insurance, to notify the insurer that the policy has not been taken up) and to collect any refund of premiums which may be made by the insurer and if any money is owed to Close Brothers under your credit agreement pay it to Close Brothers or if Close Brothers have debited us with the amount outstanding use it to offset our costs. The balance will be debited from the debit/credit card last used by you.
You will be responsible for paying any time on risk charge and putting in place any alternative insurance and/or payment arrangements you need.
If during the policy period any additional premiums or refunds of premium are due, then these will be automatically applied to the remaining balance on the Close Brothers account.
When a policy is issued, you are strongly advised to read it carefully as it is that document, the schedule, any certificate of insurance and the policy wording, which are the basis of the insurance contract you have purchased. If you are in any doubt over any of the policy terms or conditions, please contact us promptly.
Contact our Customer Service Team advising them of any change to your personal information. Your policy will be based on your needs when accepting the policy, therefore should your needs change this may result in your insurer not being able to continue cover or be the most suitable for you. To process any amendment that requires an additional premium we require this to be paid immediately or added to any existing Direct Debit plan that has sufficient payments remaining.
For your protection, we reserve the right to automatically renew your policy up to five working days prior to the renewal date and take payment by the same payment method as this year. If we exercise this right we will write to you prior to the renewal date, informing you how much the premium will be and giving you time to let us know if you wish to opt out of the automatic renewal process.
Neither we nor any insurer are under any obligation to offer renewals terms and we will not be held responsible for any losses arising from you not being insured after the expiration of your current policy.
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Insurance advising and arranging is covered for 90% of the claim, without any upper limit. For compulsory classes of insurance, insurance advising, and arranging is covered for 100% of the claim, without any upper limit.
Further information about compensation scheme arrangements is available from the FSCS.
If the insurer of your policy is declared in default by the FSCS, we reserve to right to arrange a replacement policy with another insurer on your behalf. We would endeavour to replace your insurance with another insurer on your behalf.
All personal information about our customers is treated as Private and Confidential.
We will only disclose the information we have about private individuals in the normal course of arranging and administering their insurance, including debt recovery, and will not disclose any information to any other parties without their written consent unless required by law or public interest, which includes the detection and prevention of fraud and money laundering. We may use the information we hold about our customers to provide them with information about other products and services that we feel may be appropriate to them. For full details of how we use your data please view our privacy policy on our website. Under the General Data Protection Regulation, private customers have a right to see the personal information about them that we hold in our records. If you wish to exercise this right, or have any other related queries, you should write to the data protection officer.
Insurers pass information to the Claims and Underwriting Exchange Register (CUE) operated by Insurance Database Services Limited (IDSL). The aim is to check information provided and to prevent fraudulent claims. To prevent and detect fraud we may at any time:
Share information about you with other organisations and public bodies including the Police.
Undertake credit and claims record searches; Check and/or share your details with fraud prevention and detection agencies.
If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies. We may log your IP address (and/or a unique identifier for your computer) and use this information to help us prevent and detect fraud, including passing it to fraud prevention agencies. Law enforcement agencies may access and use this information. We, and other organisations may also access and use this information to prevent fraud and money laundering, for example when:
Checking details on applications for credit and credit related or other facilities.
Managing credit and credit related accounts or facilities.
Recovering debt.
Checking details on proposal and claims for all types of insurance.
Checking details of job applicants and employees.
If you have any questions about any information in this notice, or if you want more details of the databases we access and contribute to, please contact us.
We, and the companies we place business with, may make searches about you at credit reference agencies who will supply us with information, including the Electoral Register and credit information. The agencies will record details of the search whether your application proceeds. The searches will not be used by lenders to assess your ability to obtain credit. We may use scoring methods to assess this application and to verify your identity. Credit searches and other information which is provided to us and/or the credit reference agencies, about you and those with whom you are linked financially, may be used by us and other companies if you, or other members of your household, apply for other facilities including insurance applications and claims. This information may also be used for debt tracing and the prevention of money laundering as well as the management of your account. Alternatively, we may ask you to provide physical forms of identification.
Our full Privacy Policy can be found on our website.
We are registered with The Information Commissioners Office in the UK and we undertake to comply with the most current Data Protection Act and regulations in all our dealings with your personal data. Your personal information will be kept secure. Our Data Protection Officer’s details are: Data Protection Officer, Infinity Risks Limited.
Email: gsmart@infinityrisks.co.uk.
We have to share your data with insurers and underwriters in order to obtain insurance and we may share your information with credit agencies and other companies for use in credit decisions, for fraud prevention and to pursue debtors. Specifically, if you ask us to arrange finance for your payment of premium, the companies we ask may perform a credit check. This may happen at inception and each renewal of the policy. If you ask us to obtain insurance on your behalf outside of the UK, you accept that personal data associated with that policy will be covered only by local data protection law and will not be covered by UK data protection regulations. We may use your personal data for other similar purposes, including marketing and communications, but that will only occur if we have your consent or another legal justification for doing so. You have a right at any time to stop us from contacting you for marketing purposes. Please be aware that telephone calls may be monitored and/or recorded. You have the right to request access to any of your personal data we may hold. If any of that information is incorrect, you can request that we correct it. If we are not using your information correctly, you can request that we stop using it or that we delete it completely. If you would like to make a request to see what personal data of yours, we hold, you may make a request to our Data Protection Officer using the details above. Where we have asked for your consent to use your personal data, you have the right to withdraw that consent at any time. If you withdraw your consent, we will stop using your personal data where legally possible. Any processing undertaken before your withdrawal remains valid and lawful.
We, and the companies we place business with, may make searches about you at credit reference agencies who will supply us with information, including the Electoral Register and credit information. The agencies will record details of the search whether your application proceeds. The searches will not be used by lenders to assess your ability to obtain credit. We may use scoring methods to assess this application and to verify your identity. Credit searches and other information which is provided to us and/or the credit reference agencies, about you and those with whom you are linked financially, may be used by us and other companies if you, or other members of your household, apply for other facilities including insurance applications and claims. This information may also be used for debt tracing and the prevention of money laundering as well as the management of your account. Alternatively, we may ask you to provide physical forms of identification.
If you wish to register a complaint, please contact us:
In writing: Complaints Department, 50, Pure Offices, Lakeview 600, Lakeside Drive, Centre Park Square, Warrington, WA1 1RW.
By telephone: 0203 488 4224 or email enquiries@infinityrisks.co.uk
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. For more information, visit their website www.financial-ombudsman.org.uk.
Ultimately, should you remain dissatisfied with the final response issued by us, you may, if eligible, refer your complaint to the Financial Ombudsman Service (FOS). The Financial Ombudsman Service is an independent service in the UK for settling disputes between consumers and businesses providing financial services. The FOS’ contact details are as follows:
Financial Ombudsman Service
Exchange Tower
London
E14 9SR
Email: complaint.info@financialombudsman.org.uk
Telephone: +44 (0)300 123 9 123
Website: www.financial-ombudsman.org.uk
Calls may be monitored and recorded.
Your acceptance of these Terms of Business does not affect your normal legal rights.
These Terms shall be governed by the laws of England and the parties agree herewith that any dispute arising out of it shall be subject to the exclusive jurisdiction of the relevant court.
Updated 1st May 2024
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