Oakland Insurance Services Ltd
16 Upper Main Street
Larne
Co Antrim BT40 1SX

TERMS OF BUSINESS

Status - The financial Services Authority (FSA) is the independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide if our services are right for you. Our statutory status can be checked on the FSA's Register by visiting the FSA's website http://www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

We act as an Independent Broker and Adviser on your behalf. Our service includes:-advising you on your Insurance needs; arranging your Insurance cover with Insurers: helping you with any subsequent alteration to the Insurance which we have placed on your behalf; dealing with claims on your behalf.

Whose products do we offer? - We offer products from a range of Insurers, Underwriting Agencies and Specialist Brokers for all classes of General Insurance.

Charges - Charges - The remuneration we receive for our services is a percentage of the Insurance Premium (known as brokerage or commission). Refunds for the reduction or cancellation of cover will be allowed net of brokerage. We reserve the right to charge a fee in addition to the Insurance Premium for the arrangement, amendment, renewal or cancellation of any Policy. These fees are:

Handling Money - Our financial arrangements with most insurance companies are on a "Risk Transfer basis". This means that we act as agents of the insurer in collecting premiums and handling refunds due to clients. In these circumstances such monies are deemed to be held by the insurers with which your insurance is arranged. If Risk Transfer does not apply such monies will be held by us in a Statutory Trust account set up in accordance with FSA rules. Interest earned on monies held in such a Statutory Trust account will be retained by us.

Complaints and Compensation - We always endeavour to provide the highest standard of service. However, should you have cause for complaint, you should, in the first instance, contact us by telephone or in writing. Please contact us:

Your complaint will be acknowledged within 5 business days, advising you of who is dealing with the complaint and indicating when you may expect an answer. We will provide a formal written response with 20 business days from receipt of the original complaint. If the complaint cannot be resolved within this time scale we will write with an explanation as to the progress and the likely time scale involved. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

Financial Services Compensation Scheme (FSCS) - 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 business and the circumstances of the claim. Insurance advising and arranging is covered for 100% of the first £2000 and 90% of the remainder of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS.

Disclosure of Information - All information, statements or answers to queries made by you to us and to your Insurers are your responsibility and must be correct. In particular, your attention is drawn to the importance of the declaration and signature on Insurers' proposal forms. Failure to disclose facts material to the Insurance are matters or information which may influence your Insurer as to the acceptability or otherwise of your proposal or renewal. Facts that are material must be disclosed at the earliest opportunity and certainly at each Renewal. Please consult us if you have any queries regarding the disclosure of information. You are advised to keep copies of documentation sent to or received from us for your own protection.

Policy Documents - When a policy is issued you must read it carefully. The policy is the basis of the Insurance protection in place. If you are in doubt over any Policy terms or conditions, please seek our advice as quickly as possible.

Claims - We will assist you in the conduct and negotiation of claims. All incidents likely to give rise to a claim must be notified to us immediately. We will advise you of the appropriate action to be taken. In relation to Liability and Motor Insurance especially, you should not admit liability and third party correspondence should be sent to us immediately, without acknowledgement. Claims can be notified on 028 2827 9621.

Documents - We reserve the right to retain Certificates, Proof of No Claims Bonus, or other Policy Documents at this office until all payments due under the Policy have been made. By accepting this agreement, you agree that delivery of any Certificates of Insurance to us shall constitute delivery to yourself in accordance with legal requirements. Should we withhold any documents we will ensure you receive full details of your Insurance cover.

Cancellation of Insurance - Any request for cancellation must be made in writing and any relevant certificate of insurance must be returned to us or the insurer concerned. Charges will apply as per the detail of fees above.

Ending your relationship with us - Subject to your immediate settlement of any outstanding premiums and fees, you may instruct us to stop acting for you and we will not impose a penalty. Your instructions must be given in writing and will take effect from the date of receipt. In circumstances where we feel that we cannot continue providing services to you we will give you a minimum of seven days notice. Unless otherwise agreed in writing, if our relationship ends, any transactions previously initiated will be completed according to these Terms of Business. You will be liable to pay for any transactions concluded prior to the end of our relationship and we will be entitled to retain commission received for conducting these transactions together with all fees charged by us for services provided.

Confidentiality - Information which you have given us will not be used or disclosed except in the normal course of negotiating, maintaining or renewing insurance on your behalf, unless we are obliged to make such a disclosure for regulatory or legal reasons. Under the Data Protection Act 1998 you have the right to see personal information about you, which we hold in our records.

Conflict of Interest - Occasions can arise where we, one of our clients or product providers may have a potential conflict of interest with business being transacted for you. If this happens, and we become aware that that potential exists, we will write to you and obtain your consent before we carry out your instructions and we will detail the steps we will take to ensure fair treatment.