Terms of Business

The Financial Conduct Authority


The Financial Conduct Authority is the independent watchdog that regulates financial services. LetRisks, PropertyRisks and Let Insurance Services are trading names of Let Insurance Services Limited. Let Insurance Services Limited is an independent intermediary and is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 474985 and you can check our status at www.fca.org.uk/register or by contacting the FCA on 0845 606 1234. Our permitted business includes advising, arranging, dealing in and assisting with the placing and administration of all types of General Insurance policies.


Confidentiality and Data Protection

We will treat all your personal information as private and confidential to us and anyone else involved in the normal
course of arranging and administering your insurance, even when you are no longer a customer. We will not give anyone else any personal information except on your instructions or authority, or where we are required to do so by law, or by virtue of our regulatory requirements. We may use information we hold about you to provide information to you about other products and services, which we feel may be appropriate to you. Under the Data Protection Act 1998 you have the right to see personal information about you that we hold in our records. If you have any queries please write to us at our usual office address.


Our Service

We are an independent insurance intermediary, who acts as an agent for the insurer when you are arranging insurance.


Whose products we offer

In respect of products purchased, these will be from a single insurer for each type of business, who will be clearly identified in the quotation.


The Service We Will Provide You With

In respect of policies purchased through our website you will not receive advice or a recommendation from us and you will then need to make your own choice about how to proceed. Guidance on the circumstances in which any policy is likely to meet customer's needs, will be confirmed in a demands & needs statement with the quotation.


What you will pay for our services

We usually receive a commission from the insurer with whom we place your business and, in addition, we normally
make the following charges to cover the administration of your insurance:

  • Arranging new policies - £10
  • Mid term adjustments - £10
  • Mid term cancellations and other refunds are refunded NET of commission. We may, in addition, charge a £10 administration fee.
  • Renewals - £10
  • Replacement/duplicate certificates or cover notes - £10
  • Payment by Credit Cards - £10
  • Personal lines/Retail policies cancelled during the 'Right to Cancel' period will be subject to an administration charge of £10, in addition to the premium charged by the insurer for the period of cover provided

Occasionally we may arrange a policy on which we earn no commission (a 'net-premium policy') and in these cases we will advise you of the arrangement fee before you take the policy out. Specific charges, which apply to individual policies will be shown on the Initial Disclosure Document applicable to that policy. The specific charge and purpose of any additional charges will always be advised to you in advance.

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


What to do if you have a complaint

Our aim is to provide a first class service, however, if you wish to register a complaint, please contact us by writing to the Managing Director, LetRisks, Wessex House, Upper Market Street, Eastleigh, Hampshire SO50 9FD, or by phone Telephone 0345 072 0292.

We will provide you with a copy of our full complaints procedure and respond to you as a matter of urgency, and always within 5 working days.

We will aim to make a final response to you within four weeks, or keep you informed as to why this is not possible. In the event that your complaint relates to activities or services provided by another party, we will ensure that your complaint is appropriately forwarded, and will track the progress of the complaint and responses of that party.

If you are not satisfied with the way your complaint has been dealt with, you may ask the Complaints Department at Lloyd's to review your case.

The address is;
Policyholder & Market Assistance,
Lloyd's Market Services
One Lime Street
London
EC3M 7HA
Email: Complaints@Lloyds.com
Telephone Number - 0207 327 5693

After our final response has been issued, if you still cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service, for an independent assessment and opinion. The FOS Consumer Helpline is on 0845 080 1800 and their address is:

Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London
E14 9SR
Email: complaint.info@financial-ombudsman.org.uk

Your Right to Cancel (Applicable to Personal Lines/Retail customers only)

You have a legal right to cancel your policy for any reason, subject to no claims having occurred, within 14 days of receiving the full terms & conditions. You will always be advised where this Right applies. A charge will apply for the period of cover provided and, in addition, we make an administration charge as detailed above.

If you wish to cancel a policy you must advise us in writing, prior to expiry of the 14-day cancellation period, to our usual office address.


Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS is the UK's statutory fund of last resort for customers of authorised financial services firms, like ourselves. The FSCS can pay compensation if an authorised firm is unable or likely to be unable to pay claims against it, usually because it has gone out of business or is insolvent.

example, motor insurance and employers' liability insurance), insurance advising and arranging is covered for 100% of the claim, without an upper limit. Further information about compensation scheme arrangements is available from the FSCS.


Payment Options

We normally accept payment by the following credit/debit cards - Visa, Mastercard, Maestro. For certain policies, you may be able to spread your payments through 'insurers' instalment schemes or a credit scheme, which we have arranged with an established insurance premium finance provider. We will give you full information about your payment options and the appropriate finance agreement when we discuss your insurance in detail.

Please Note: Your policy cover will cease if you fail to keep up payments on an instalment agreement or premium finance facility related to it.


Language Used

The English language will be used 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.


Information on how we treat Payments You make to Us

Under the terms of our agreements with the Insurance companies with whom we place business, we normally receive premiums you pay to us as Agent of the Insurer. You have the additional protection of insurance companies accepting that monies paid to us are treated as being received by them (risk transfer).
We do not pay any interest on premiums held by us in the course of arranging and administering your insurance.


Your Duty to Give Information


It is your responsibility to provide complete and accurate information to insurers when you take out your insurance policy, throughout the life of your policy, and when you renew your insurance.
It is important that you ensure that all statements you make on proposal forms, statements of fact, claim forms and other documents are full and accurate.
Please note that if you fail to disclose any information or change in circumstances to your insurers which could influence the cost, or their decision to accept your insurance, this could invalidate your insurance cover, and could mean that part or all of a claim may be not be paid.

LetRisks - combining quality in referencing and insurance solutions

LetRisks, PropertyRisks and Let Insurance Services are trading names of Let Insurance Services Limited. Let Insurance Services Limited is an independent intermediary and is authorised and regulated by the Financial Conduct Authority. The company is entered on the FCA register (www.fca.org.uk/register) under reference 474985. Let Insurance Services Limited is registered in England and Wales Registration No. 06413754
The registered office is at Wessex House, Upper Market Street, Eastleigh, Hampshire, SO50 9FD.