Terms of Business

KGJ Insurance Brokers (Stourbridge) Ltd. 2 Hagley Road, Stourbridge, West Midlands, DY8 1QG

Updated March 2021


Accepting our Terms of Business

By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business. We draw your particular attention to:

  • the section headed Use of personal data, and specifically the additional Privacy Notice; and
  • the section headed Handling money which explains our terms for handling client money in a Non-Statutory Trust account.

If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you, please contact us at the above address.

Financial Conduct Authority

KGJ Insurance Brokers (Stourbridge) Ltd. is authorised and regulated by the Financial Conduct Authority (FCA). Our FCA Register number is116769.

Our permitted business is advising, arranging, dealing as an agent and assisting in the administration and performance of general insurance contracts. We are also authorised to carry on credit broking.

You may check this on the FCA Register by visiting the FCA website, register.fca.org.uk or telephone 0800 111 6768 or 0300 500 8082.

Our Service

In arranging insurance for our customers, we act as an Independent Intermediary. Our role is to advise you and make a suitable recommendation after we have assessed your needs. In situations where we are able to arrange insurance for you but do not offer advice, we shall confirm the position to you in writing. We will not in any circumstances act as an insurer nor guarantee or warrant the solvency of any insurer.

Personal Insurances

We offer products from a range of insurers for:

  • Private Car
  • Motorcycle
  • Commercial Vehicle
  • Household Buildings & Contents

We only offer products from a limited number of insurers for:

  • Pet Insurance
  • Wedding Insurance
  • Let Property
  • Vehicle Breakdown
  • Classic/Specialist Vehicles
  • Travel Insurance
  • Caravan & Camping
  • Small Craft
  • “Non-Standard” Property (e.g.unoccupied/previously underpinned etc.)
  • GAP Insurance
  • Gadget Cover
  • Home Emergency Cover

You may ask us for a list of the insurers we deal with for these products.

We only offer a product from a single insurer for:

  • Motor Legal Expenses Insurance (BDElite Ltd)
  • Family Legal Expenses Insurance (BDElite Ltd)
  • Travel Insurance sold online via www.kgjinsurance.com (David Oliver Associates underwritten by AXA Insurance UK Plc)
  • Temporary Motor Insurance (Temp Cover Ltd.)
  • Accident Sickness & Unemployment Cover sold online via www.kgjinsurance.com (Assurant)
  • Keycare (Keycare Limited)

Commercial Insurances

We select commercial insurance products from a range of insurers, however, for certain products, we may only deal with a single insurer or select from a limited number of insurers. We will give you further information about this before we finalise your insurance arrangements.

Complaints & Compensation

We aim to provide you with a high level of customer service at all times and treat you fairly in accordance with the guidelines set by our regulator, the Financial Conduct Authority. If you are not satisfied, please contact us:

in writing… Write to “The Customer Services Manager” at the address above

by phone… Telephone 01384 390909

by e-mail… enquiries@KGJinsurance.com

If you are still not satisfied, you may refer the matter to the Financial Ombudsman Service (except in the case of business with al turnover or annual balance sheet of more than €2 and more than 10 employees, a charity with an income of £1m or more, or trustees of a trust with a net asset value of £1m or more). Further information can be found at https://www.kgjinsurance.com/complaints-procedure.html.

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. Non-compulsory insurance advising and arranging is covered for 90% of the claim without any upper limit. For compulsory classes of insurance (such as Third Party Motor or Employers Liability), 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 on 020 7892 7300 or www.fscs.org.uk. In the absence of an agreement to the contrary, English law will apply.

Payment for our services

We normally receive commission from the insurers or product providers and 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. We also make charges for handling your insurances as follows:

  • Returned (or “bounced”) Cheque – £15.00
  • Renewals – £10.00
  • Mid-term adjustments – £15.00
  • Mid-term cancellation – £15.00

Any variation to the above will be disclosed in writing. You will receive a quotation which will tell you the total price to be paid, which identifies any fees, taxes and charges separately from the premium. You may also be able to pay the premium, taxes and fees by instalments but this will usually attract a credit/instalment charge – full details will be supplied on request.

We also draw your attention to the sections headed Cancellation of insurances and Ending your relationship with us.

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 insurer(s) with which your insurance is arranged. You will be notified if Risk Transfer does not apply and such monies will be held by us in a Non-Statutory Trust account pending payment. The establishment of the Non-Statutory Trust follows the rules set by the FCA introduced to protect money held by authorised intermediaries. However, you should be aware that, under Non-Statutory Trust account rules, we are permitted to use such monies temporarily held to advance credit to clients generally. A copy of the Deed of Trust is available on request or may be inspected at our premises during normal office hours. In addition, interest will not be paid to clients in respect of money held in client bank accounts. If you object to your money being held in a Non-Statutory Trust account you should advise us immediately, Otherwise, your agreement to pay the premium together with your acceptance of these Terms of Business will constitute your informed consent to our holding your money in a Non-Statutory Trust account. For the purpose of some transactions, client money may pass through other authorised intermediaries before being paid to the insurer or may be passed to organisations outside the UK. You must notify us if you object to your money being handled in this way.

Cancellation of Insurances

You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance should be returned to us. In the event of cancellation, charges for our services will apply in accordance with the Payment for our services section above. The terms of your policy may allow insurers to retain the premium in full or to charge short-period premiums in the event of cancellation. If you pay the premium on instalments you may still be liable for all remaining payments (if, for example, you have reported a claim/potential claim). You should clarify this before instructing us to cancel your insurance.

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 we cannot continue providing services to you, we will give you a minimum of 7 days notice.

Unless otherwise agreed in writing, if our relationship ends, any transaction 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 will all fees charged by us for services provided.

Your responsibilities

You are responsible for providing complete and accurate information which insurers require in connection with any proposal for insurance cover. In the case of a Consumer contract, you should take reasonable care not to make a misrepresentation to the insurer. In the case of a Commercial contract you should ensure that you make a fair presentation of the risk to be insured. If you fail to do so this could invalidate the policy and mean that claims may not be paid. You must check all details on any Proposal Form or Statement of Facts and pay particular attention to any declaration you may be asked to sign. You should read all insurance documents issued to you and ensure you are aware of the cover, limits and other terms that apply.  Particular attention should be paid to any endorsements, warranties and conditions as failure to comply with them could invalidate your policy. You should take note of the required procedures in the event of a claim, which will be stated in the policy documentation. Generally, insurers require immediate notification of a claim or circumstances that might lead to a claim. You should inform us immediately of any changes in circumstances that may affect the services provided by us or the cover provided by your policy. You should be aware that your insurer may update/consult various registers such as the Claims and Underwriting Exchange Register (www.insurancedatabases.co.uk) or the Motor Insurance Anti-Fraud Register.

Use of personal data

All personal information about you will be treated as private and confidential. We are registered with the ICO as a Data Controller. We undertake to comply with the General Data Protection Regulation (GDPR) in all our dealings with your personal data. Your personal information will be kept secure. If you require more information on how we use your personal data please refer to our Privacy Notice.

KGJ Insurance Brokers (Stourbridge) Ltd. is registered in England & Wales No 948748.

Registered office: 2 Hagley Road, Stourbridge, West Midlands, DY8 1QG

Telephone: 01384 390909

Fax: 01384 375982

E-mail: enquiries@KGJinsurance.com