Terms of BusIness Agreement - Household
This contract is between Sky Insurance Services Group Limited and you, our customer.
who we are
Sky Insurance Services Group Limited trades as Sky Insurance. We are an independent intermediary; we give advice on, sell and administer general insurance policies. We’re also allowed to help arrange credit facilities to help pay for insurance.
Sky Insurance, is part of Daly Holdings Group Limited. The Directors of Daly Holdings Group Limited, have more than 10% voting rights in Universal Insurance Company (Guernsey) Limited.
what we do and who we act for
We’ll give you a personal recommendation, based on a limited analysis of the market, from our panel of insurers. CBC UK Limited trading as Bell Household and Plum Underwriting Limited, form our panel of insurers. Sometimes we use other intermediaries to help us find the best cover for you, if we do we’ll let you know. We offer Legal Expenses insurance through Kindertons Accident Management.
We act on your behalf when we are arranging and servicing your insurance policy, however when collecting and refunding premiums, we do so on behalf of your insurer.
We use information you’ve given us to find the right cover for you. We ask questions to make sure we have the right information. We give the answers you’ve provided to insurers, they use this information to help them decide what cover to offer and how much to charge.
what you need to do
We will ask you questions that are important to insurers when offering to cover you. You must take reasonable care to ensure your answers are correct. If the answers you give aren’t correct the insurer could;
- cancel the policy and treat it as if it never existed
- refuse to pay any claim
- refuse to pay any claim in full
- revise the premium and/or change the compulsory excess, or the extent of the cover may be affected
Your information will be kept private and confidential. There are certain times when we need to share your information with business partners, insurers, credit providers and other third parties. We do this when they are directly involved in administering your insurance.
We also use your information to keep you up to date with developments at Sky Insurance and our other companies. We might need to do this for legal reasons, to help you find your insurance policy or collect payment. With your consent, we may use your information to contact you for marketing purposes. We record all calls.
We hold data in line with the General Data Protection Law. This means you have the right to see the personal information we hold about you. If you want to know what information we hold about you, please let us know. There is no charge for this information. There may be a charge if the request is onerous, but this will only cover the cost to us.
We also use information that is publicly available to help check who you are and protect against fraud. This includes things like credit referencing and checking the financial sanctions lists. Credit checks may appear on your credit report, even if you don’t take the policy out. If you have any queries don’t hesitate to call or write to us.
what you pay
Our fees are as follows:
25% or £40 for new policies or renewals.
£25 for mid-term adjustment (temporary or permanent) or duplicate documents
£50 for any cancellation, whether instigated by you, us, or your insurer
£15 for collecting any arrears payments
We don’t charge for giving advice or searching the market. Once we’ve found the right policy for you, we’ll give you a breakdown of the price, including fees and insurance premium tax.
If we change our charges, we’ll let you know by providing an up to date copy of this agreement. These charges are in addition to any charges made by the insurer. If you want to discuss our earnings, please don’t hesitate to ask.
Should your policy be cancelled, outside of the cooling off period, our commission and fees are not refundable. We will refund any remaining premiums, unless there is an outstanding amount on a finance agreement. In that case, your finance provider will reclaim the outstanding amount before any money is returned to you.
All the above charges are non-refundable.
If you pay by instalments, you will pay for your policy using a finance agreement. We use Close Brothers Premium Finance Limited. Close Brothers charges interest on the value of the loan, we receive a commission for arranging loans.
If you pay by continuous monthly direct debit, we’ll renew your policy for you. The only reasons we won’t renew your policy are if you tell us, the finance company won’t offer credit or your first payment fails.
We will let you know when you need to pay your finance agreement. If you don’t pay in time, your policy won’t be valid. If you pay monthly, and don’t make a payment, your policy will be cancelled in line with your credit agreement.
next year’s policy
Before your policy ends, we’ll be in touch to discuss your next year’s cover. We’ll get your renewal quote based on the information you gave us when you took out your current year’s insurance. You need to let us know about any changes, as this may affect the price and cover you are offered.
We’ll put your quote in writing for you. In some cases, we might get in touch with other companies to help find you cover. If we do, we’ll let you know who they are.
If you choose to automatically renew your policy, we’ll renew your main policy and any add on products you’ve chosen.
conflicts of interest
We will make you aware of any conflicts of interest that could affect you. We will discuss this with you before we do anything that will affect your cover.
We have systems in place to manage conflicts of interest and make sure you aren’t affected.
changes to your policy
Your circumstances might change during the year. This may mean a change to your policy. If your insurer will still offer cover, based on the changes, we’ll let you know the additional cost if there is one.
cancelling your policy
You can cancel your policy at any time by calling or writing to us. If you cancel within 14 days, you have statutory rights. This means your insurer will refund the premium and we will refund our commission, based only on the time you’ve been covered. We will charge you a fee, which is shown above. Your insurer may also charge a fee. The 14 days start from the date you take the policy out or receive the documents – whichever is later.
If you cancel after 14 days, your refund is worked out differently. We won’t refund our commission or fees as we’ll have done all the work to earn them at that point. You should refer to your insurer’s policy documents to find out more about their cancellation policy.
If you make any claims in the year, it is likely that you’ll not receive any refund – even if you cancel within the first 14 days. If you pay in monthly instalments, cancelling the direct debit does not cancel the policy. We may cancel your policy at any time. If we do this, we will explain why and provide you with notice, in writing, to you last address.
how we pay refunds
Any refund payment that we make will be paid to the account you paid for your insurance. We cannot make payments to different accounts. This is for your protection and to prevent money laundering. However, should you require a refund after six months, we will pay the refund by cheque.
Refunds will be paid once we have received your money back from the insurance company. We will not pay a refund of less than £10.
how we are paid
When you take out a policy with us we will charge you a fee as detailed above. In addition, we also receive a commission from the insurer which is a percentage of the total annual premium.
If you need to make a claim, you can call us on 0330 333 1255 during our office hours. If you need to claim outside of office hours you should call your insurer. Their details will be in your policy booklet.
If you are unhappy
Our aim is to provide all our clients with an excellent level of service. However, we recognise that there could be an occasion when you are unhappy. We take complaints seriously and have procedures for making sure they’re dealt with.
If you want to make a complaint, please contact us:
At our offices – Sky House, 28 Station Close, Potters Bar, Herts. EN6 1TL, Monday - Friday between 9am-6pm
By Telephone– 0330 333 1255
By Email– [email protected]
We arrange insurance for our customer with insurance companies and through Lloyd’s of London.
If you are a Lloyd’s customer, you can also complain to Lloyd’s:
- In Writing – Complaints Department, Lloyds, One Lime Street, London, EC3M 7HA.
- By Telephone – 020 7327 5693
- By Email – [email protected]
If you aren’t happy with what we, or Lloyd’s, do to resolve your complaint, you can complain for free to the Financial Ombudsman Service on:
- 0800 023 4567 (free for people phoning from a "fixed line"), or
- 0300 123 9123 (free for mobile users who pay a monthly charge for calls to numbers starting 01 or 02)
- By post The Financial Ombudsman Service, Exchange Tower, London, E14 9SR
- By email [email protected]
To see if you can complain to the Ombudsman, you can call them or go to their website. Information can be found in their leaflet, ‘Your Complaint and the Ombudsman’. The Ombudsman’s website is: www.financial-ombudsman.org.uk.
If you do wish to complain to the ombudsman, we would want to consider your complaint first. We have eight weeks to respond to your complaint. Once we respond, you then have a further six months to bring a complaint. If you complain outside of the six months, we will not consent to the ombudsman considering your complaint. Once we have received your complaint, we will acknowledge it and tell you who is going to investigate it.
protecting your money
Before we send your premium on to the insurer, we hold it in an insurer trust account. We do this on behalf of the insurer. This means your policy has been paid for as soon as you pay us. We may give customers credit from the account your money is held in, and in some cases, pay money to other intermediaries. Your money will always be protected, because this required by the FCA. We reserve the right to retain the interest earned on this account. Interest won’t be more than £20 on each transaction.
We check that the insurers who we offer cover are reputable, fair and solvent. We can’t guarantee that this will continue to be the case, but we do check regularly to make sure.
We’re covered by the Financial Services Compensations Scheme (FSCS). The FSCS steps in when financial services firms go into default. In the unlikely event that happened to Sky Insurance, you may be able to claim. Insurance advising is covered for 100% of the first £2,000 of any losses and up to 90% of any additional amounts claimed, with no upper limit. Compulsory insurance is protected in full. You can find out more at www.fscs.org.uk. Credit broking is not covered by the FSCS.
The contract is governed by the laws of England and Wales. Any disputes will be dealt with by English courts or using dispute resolutions services where appropriate.
Download a copy of Terms of Business - Household
Updated 1st Oct 2018