Terms Of Business
  1. Introduction
  2. The Financial Conduct Authority
  3. Confidentiaity & Data Protection
  4. Our Service
  5. Your Personal Dashboard
  6. Whose Products Do We Offer?
  7. Financial Strength
  8. What Will You Pay For Our Services?
  9. Other Remuneration
  10. Terms Of Payment
  11. How We Treat Your Payments To Us?
  12. What To Do If You Have A Complaint?
  13. 14 Day Cancelation Rights (Important Information)
  14. Termination
  15. The Financial Services Compensation Scheme
  16. Limit of Liability (Important Information)
  17. Applicable Law & Language
  18. Your Duty To Provide Information (Important Information)
  19. Warranties And Conditions Precedent (Important Information)

In these Terms of Business, references to “we” or “us” mean Visicover Ltd.

The purpose of this agreement is to set out our professional relationship and detail the services we will provide to you. For your own benefit and protection, you should read this document carefully and in particular, we would like to draw your attention to the “Important Information” sections. If you do not agree with any part of these Terms of Business, please tell us. You will be asked to confirm you have read and accepted these Terms of Business before requesting a quote or purchasing cover.

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2) The Financial Conduct Authority

The Financial Conduct Authority is the independent watchdog that regulates financial services. The FCA has authorised us to advise, arrange, deal in and assist with the placing and administration of all types of General Insurance policies. Our FCA Register number is 585660 and you can check our registration status at www.fca.org.uk or by contacting the FCA on 0800 111 6768.

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3) Confidentiality & Data Protection

We will process the information that you provide to us and exchange it with insurance companies and other brokers or agents for the purposes of obtaining quotations and arranging cover. This may result in a credit and other checks to confirm your identity and minimise the risk of fraud. We will treat all information as private and confidential, and in strict accordance with the Data Protection Act 1998 (DPA), even when you are no longer a customer and only share information on your instructions or authority, or where we are required to do so by law, or by virtue of our regulatory requirements.

Under the DPA, you have a right to a copy of any personally identifiable information about you that we hold in our records. You can obtain details by emailing us at enquiries@Visicover.com. A nominal charge might apply in providing the information to you.

We will use the information to keep you informed with news about our products and services, including carefully selected offers or promotions which we feel may be of interest to you. Contact may include SMS text, post, telephone or e-mail, and if you do not want us to use your information in this way, please let us know. If you have any queries please email us on enquiries@Visicover.com.

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4) Our Service

We are an independent insurance intermediary, who acts on our customers’ behalf in arranging insurance. In respect of policies purchased through our website you will not receive advice or any recommendations from us and you will then need to make your own choice regarding the suitability of products offered and about how to proceed. We will inform you separately prior to the commencement of each contract if this changes.

We provide an exclusively website based service which enables you to obtain a quote for insurance and to subsequently purchase your policy. This service also enables you to make changes to and manage such policies, including obtaining replacement policy documentation should you require it.

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5) Your Personal Dashboard

By registering as a user of our website you will be able to:

  • Save quotes so that you can return to them later.
  • Buy policies after you have had a quote.
  • Securely login to manage the policies you have bought.
  • Manage other customer’s policies where they have given you authority to do so. A customer (e.g. a flying club) may appoint a number of users (e.g. club employees) to manage policies on its behalf.

Registration will require you to provide a user email address, a password and other security information, with your email address and password becoming your unique login credentials. By using them when buying additional policies though us, your new policy and documents will be stored in your Personal Dashboard which means you can then easily view all your policy details in one place. If you prefer your new policy to be saved in a different Dashboard you will need to create a different set of login credentials using a different email address.

We provide a facility for you to grant other people access to your portfolio and you can specify what actions they are then allowed to perform on your behalf. In these instances you are still responsible for their actions, and we cannot accept any responsibility for any changes they make with or without your authority.

Do not share your Dashboard login credentials with anyone or they will have all your privileges and be able to view or change your cover or details. In these instances you will still be responsible for their actions, and we cannot accept any responsibility for any changes they make with or without your authority.

You must inform us immediately if you have reason to believe that your password is being used in an unauthorised manner.

Because circumstances change, you should review your Dashboard login credentials regularly to ensure they are still appropriate for you.

You will also be asked to record a contact email address which may be the same as your user email address. Please ensure that the contact email address you have supplied is current and is monitored by yourself as we will use this address to notify you of important changes to your cover, including the sending to you of all policy documentation and notification to you of when your renewal is due.

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6) Whose Products Do We Offer?

The range of products we offer and the number of providers of such products varies according to the type of insurance involved as shown in the following table:

Options

Type Of Insurance

For these insurance types we can provide policies from a range of insurers.

Not Applicable

For these insurance types we can provide policies from a limited number of selected insurance companies. On request, we will give you a list of these.

Not Applicable

For these insurance types we can provide policies from one insurance company.

Aviation*

* We have an exclusive contractual obligation to conduct insurance mediation business with Allianz Global Corporate & Specialty SE in respect of certain types of light aircraft and helicopter aviation risks. Policyholders with policies underwritten under our previous arrangement with AIG Europe Ltd will be offered the opportunity for those policies to be underwritten by Allianz Global Corporate & Specialty SE with effect from their next renewal date.  

Irrespective of the type of insurance involved, you will be informed who is the insurer / underwriter of any policy which you arrange through us.

Individual insurers may provide the facility for you spread the cost of your insurance over a number of instalments. Any interest charges they levy for such instalments will be fully disclosed to you prior to you completing your purchase. Irrespective of whether an interest charge is made, where such an instalment facility is made available to private consumers it will generally be regarded as the provision of credit under the Consumer Credit Act (1974). In such instances the Insurer will be the Credit Provider while we will act as Credit Broker and Debt Administrator.

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7) Financial Strength

We regularly assess the financial strength of the Insurance Companies and other intermediaries that we deal with. The process usually involves general observation of the financial ratings applied by independent rating agencies such as Standard & Poor’s and A M Best published with other readily available information within industry guides, newsletters and press releases. Whilst we take care to deal with companies that maintain reasonable solvency margins, we cannot guarantee their financial ability to pay claims.

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8) What Will You Pay For Our Services?

We usually receive a commission from the insurance provider with whom we place your business, and in such a case, the commission will be due to us either when we are in receipt of cleared funds from yourself or, when the insurer has received cleared funds from us in respect of the premium due under your policy. The individual agreements we have with each insurance provider will determine which of the two methods above is used to make this transfer of commission.

We provide an exclusively online service which enables you to manage your policy yourself, and as such, we do not normally charge you administration fees when you use our website service to obtain a quote, purchase a policy, download policy documentation or renew your cover.

Our online service also enables you to make mid-term amendments to your policy and we will not normally charge you for such transactions. However if the number of amendments you perform exceeds our ‘fair use’ limit of 20 per policy per year, we reserve the right to charge a fee of up to £25 per transaction for any mid-term amendments in excess of the fair use limit.

As stated, we provide a website which enables you to manage your policy yourself at no charge. However if you require us to make a mid-term amendment to your cover, cancel your policy or send you policy documentation, we reserve the right to charge an administration fee of up to £25 for any such transactions we perform on your behalf.

In certain circumstances your insurer may repay part of your premium, such as when the risk covered by your policy is reduced or the policy itself is cancelled. Where the amount of the refunded premium per policy is less than £30 we will retain such amount, but where a mid-term amendment or cancellation charge is made we will set it off against such charge.

If you cancel your policy within the 14 day cooling off period then we reserve the right to charge a fee of £25 to cover administrative costs. In addition, your insurer may charge you for any cover received during the 14 days cooling off period so you should also refer to the applicable Policy Booklet for details of any fees they may charge in respect of policy cancellation or mid-term amendments.

We do not receive an additional fee where you have opted to pay by instalments.

Prior to the conclusion of each insurance contract, or upon renewal, we will remind commercial policyholders of their right to be advised of the level of commission which we receive from underwriters. You are entitled, at any time, to request information regarding any commission which we may have received as a result of placing your insurance business.

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9) Other Remuneration

In addition to commission which is paid to us by insurers we may earn a “profit-share” payment from insurers for efficiently managing business transacted with them. These payments may be calculated by reference to various criteria such as overall annual profitability of the insurance business transacted, taking into account the total amount of claims arising under policies we place with them. “Profit-share” payments are not directly referable to individual policies and consequently it is not possible to calculate such payments on an individual policy basis, meaning that we are unable to disclose to you how much your policy contributed to any “profit-share” payment we might receive. Ordinarily, and if such a “profit-share” payment is received (which is not guaranteed), it represents a small proportion of the normal commission we receive and will be retained by us.

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10) Terms Of Payment

Please note we only accept payment by the following debit and credit cards – Visa and Mastercard.

We do not pass on the charges we incur for payment by EU issued personal debit cards although we will pass on to you the fees levied on us by card companies for the use of other cards. As different companies charge different fees we use an estimated average of 2.5%. Note cards issued outside the UK may also charge you exchange or other transaction fees.

Payment of your premium is required before cover commences and by accepting these terms of business you authorise us, until you send us further notice by e-mail, to charge your credit or debit card account when payments become due. To enable us to do this, and to reduce credit card fraud, we will retain access to your credit/debit card details for the duration of your policy.

You may be able to pay your premium in instalments, and details of the options available and associated costs will be provided to you when you apply for a quote online. If you have opted to pay in instalments and you fail to pay an instalment by its due date, we shall have the right to take any or any combination of the following actions:

  • terminate the Policy by giving you not less than 15 days’ notice in writing, including, for the avoidance of doubt, where such notification is by email to your registered contact email address;
  • apply a £20.00 missed payment fee;
  • withdraw the option for you to pay any outstanding premium for the Policy by instalments, in which case the remaining premium shall become payable in full immediately;
  • withhold the option for you to pay by instalments for any future renewal of the Policy;
  • withhold or withdraw the option for you to pay by instalments for any other policy you may currently hold through us or arrange in future through us. 

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11) How We Treat Your Payments To Us?

Under the terms of our agreements with the Insurance companies with whom we place business, we normally receive the premiums you pay to us as an Agent of the Insurer, with the money being held in an Insurer Trust bank account in accordance with such agreements. This has the benefit of transferring the risk of such monies to the insurers, as the agreements state the money you pay to us is effectively being received by the insurers. This includes claims money or premium refunds we receive prior to being paid to you.

By holding your money in this way, in the event that we become insolvent, your money remains protected.

In arranging your insurance we may employ the services of other intermediaries who are regulated by the FCA and your premium may be passed to these intermediaries for payment to insurers. These firms are also required to hold clients’ money in a separate trust account. We will also inform you if at any time we are required to pass your premium to firms that operate outside the UK where the protection may be different. Should you not wish us to pass premiums to a firm outside of the UK, please inform us.

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12) What To Do If You Have A Complaint?

Our aim is to provide a first class service, however we are aware that, occasionally, it is possible that we may fail to meet your expectations. If you wish to register a complaint, please contact us by writing to Bob Bevan at Visicover Ltd, 21 Heronscourt, Lightwater, Surrey, GU18 5SW or via email to complaints@Visicover.com.

If we are unable to resolve the issue to your satisfaction by the end of the next business day, we will formally investigate the issue. You will receive an acknowledgement, together with a copy of our complaints process promptly and certainly within 5 working days. We will then aim to investigate and provide a resolution as quickly as possible, informing you of the position at no later than 4 weeks and a final response no later than 8 weeks.

If you are not happy with our response, or the position after a period of 8 weeks, you may be eligible to refer your complaint to the Financial Ombudsman Service (FOS) for an independent assessment and opinion.

The FOS Consumer Helpline is on 0800 023 4567 (free for people phoning from a "fixed line" such as a home landline) or 0300 123 9123 (free for mobile-phone users paying monthly charge for calls to numbers starting 01 or 020) and their address is: Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London, E14 9SR.

If you wish to complain about an insurance policy purchased online you may be able to use the European Commission’s Online Dispute Resolution platform, which can be found at here.

A full copy of our complaints procedure is available on request.

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13) 14 Day Cancellation Rights (Important Information)

You have a legal right to cancel your policy for any reason, subject to no claims having occurred, within 14 days of its start date. The insurer may apply a charge for the period of cover provided and we will charge a fee of £25 to cover administration charges.

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14) Termination

You may cancel this agreement with us at any time. We also reserve the right to cancel this agreement at any time. In any event, we will provide you with reasonably sufficient time to re-arrange your insurance and we will notify you of termination in writing together with an explanation if appropriate.

Where you are paying for your insurance by instalments and an instalment payment is not received by us on or before the date when it is due to be paid you agree that we may on your behalf instruct the insurer to cancel the insurance and offset any refund of premium which may be received against any money which you owe to us or the insurer. In such circumstances you will remain liable for any time on risk or other charge and you will also be responsible for putting in place any alternative insurance.

Terms and conditions relating to cancellation or any mid-term amendments vary between insurers so please see the applicable policy booklet for full details.

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15) The Financial Services Compensation Scheme

If we are unable to meet our obligations you may be entitled to compensation from the FSCS depending on the type of insurance involved. If we have advised or arranged insurance for you this may be covered for 90% of a claim, without any upper limit, however compulsory classes of insurance (such as motor insurance) may be covered for 100% of a claim. Further information is available from the FSCS helpline on 0207 892 7300 and www.fscs.org.uk.

Please note that certain classes of insurance, including aviation and marine, are not covered by the provisions of the Financial Services Compensation Scheme.

The FSCS is the UK’s statutory fund of last resort for customers of authorised financial services firms. Compensation is usually payable if an authorised firm is unable or unlikely to pay claims usually because it has ceased trading or become insolvent.

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16) Limit of Liability (Important Information)

This clause restricts the amount that may be recoverable as a result of our negligence. Other than injury or death of any person (that no cap on liability will apply), our liability to you for the services we provide shall not exceed £1,500,000 in connection with any one event or connected events.

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17) Applicable Law & Language

This Terms of Business is subject to English Law and the jurisdiction of the English Courts. We will use the English language for all communications, the contractual terms and conditions, and any information we are required to supply to you, before and during the duration of the contract.

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18) Your Duty To Provide Information (Important Information)

It is important that you understand your duty to provide all materially important information, fully, completely and accurately to us and your insurers, not only when you take out your insurance, but also throughout the life of your arrangement, at the annual renewal or at any other time when changes occur. It is important that you ensure that all statements you make in online quote forms, claim forms and other documents are full and accurate.

Materially important information is any information that could influence an insurer’s decision to accept your risk including the cost of your insurance. This includes but is not restricted to:

  • Details of previous insurance claims that you have made, or reported.
  • Personal information about you, such as Criminal Convictions (you have a duty to give this information even when the insurance relates to a business and not you).
  • General information about the risk, such as the construction of a building, (for example, concrete floor, timber frame with brick, stone, and a slate roof)

If you are not sure how much information to provide or do not understand the question please ask.

The reason why this duty to provide information is so important is that if you fail to tell us something, your policy will leave you with no insurance protection; insurers will not pay any claims and will cancel your policy. You will also find it difficult to re-arrange cover because you did not tell an insurer everything, and you will have to disclose this fact when you reapply for insurance.

Failure to disclose these facts may leave you with no cover and a claim not paid.

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19) Warranties And Conditions Precedent (Important Information)

Your policy may contain a number of Warranties and Conditions Precedent. These are important terms which you must comply with word for word, otherwise the insurer might not pay any claims and might cancel your policy from the start, even if there is no connection between a breach of these terms and the cause of the loss. Failure to comply with these terms may leave you with no insurance cover and your claim not being paid!

  • Warranties: An insurance warranty does not mean that it is a guarantee of something; it typically means that you must comply with such terms in order that your insurance protection remains operative. Warranties are not always referred to as such within a policy and schedule, and may be referred to as conditions, endorsements, special terms as well as warranties. It is important that you look out for these and if you have any doubt about a particular statement, please ask us for clarification.
  • Conditions Precedent: Some conditions impose a responsibility on you to have done something or completed something before a certain section of the policy will operate. If you do not do the thing stated, cover will not be in place.

Failure to comply with a warranty or condition precedent may leave you with no cover and a claim not paid.

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