Terms of Business

The Financial Services Authority (FSA)

Walmsleys Commercial Insurance Brokers Ltd is regulated by the Financial Services Authority.

Our permitted business is to sell and administer general insurance. Our FSA Register number is 307247 and you can check this information on the FSA’s register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 6061234.

The FSA is the independent watchdog that regulates financial services. It requires us to give you these Terms of Business details. Please use this information to decide if our services meet your needs.

Our service

In arranging insurance on your behalf, we act as an Independent Broker. Our service includes: advising you on your insurance needs; arranging your insurance cover with insurers to meet your requirements; and helping you with any ongoing changes you have to make.

We offer a wide range of insurance products and have access to leading insurers in the market place. A full list of insurers is available upon request. We will send you documents confirming the full details of your cover and the insurer, and details of the premium(s) you have paid.


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. Failure to disclose information pertaining to your insurance, or any inaccuracies in information given, could result in your insurance policy being invalid or cover not operating fully.

It is important that you ensure all statements you make on proposal forms, claim forms and other documents, are full and accurate. If a form is completed on your behalf, you should check that the answers shown to any questions are true and accurate before signing the document.

You are reminded that it is an offence under the Road Traffic Act to make any false statements or withhold any relevant information to obtain a Certificate of Motor Insurance.

Please note that under the Rehabilitation of Offenders Act 1974 you are not required to disclose convictions regarded as “Spent”.

You are advised to keep copies of any correspondence you send to us or direct to your insurer. If you are in any doubt about whether information is material, you should disclose it.

Premiums and financial aspects

In order to be able to offer you credit facilities, we are registered under the Consumer Credit Act and our Licence Number is 547382. All premiums received on behalf of our Clients are held in a Statutory Trust bank account conforming to Financial Services Authority requirements.

We normally accept payment by guaranteed cheque or credit/debit cards and our standard Credit Terms are 14 days. You may be able to spread your payments through insurers’ instalment schemes, a credit scheme with a third party finance provider, or a facility we have arranged ourselves. We will give you full information about your payment options when we discuss your insurance in detail.

We may keep certain documents, such as your insurance policy documents or Certificate, while we are waiting for full payment of premiums. In these circumstances, we will ensure that you receive full details of your insurance cover and will provide you with any documents that you are required to have by law.

We will hold monies received from you in a designated Statutory Trust Insurance Bank Account. We will remit such monies to insurers in line with our agreements with them.

Commission and Charges

As Independent Brokers, we are remunerated by commission from your insurance company, or fees for professional services, or a combination of both, details of which are available on request. We may also receive remuneration from insurers by way of profit sharing agreements, and from third party finance providers. We may also make the following charges to cover the administration of your insurances:-

Arranging new policies £35
Mid term adjustments £35
Mid term cancellations £35
Renewals £35
Replacement/duplicate Certificates
or cover notes

The specific charge and purpose of any additional charges will always be advised to you in advance.

Return premiums (usually arising if an insurance risk is reduced or a policy cancelled)

On a return premium, we repay commission on the amount to your insurer and this will be deducted from the final amount due to you.

In view of the costs involved, we will not issue any return premium that is less than £10 (after deducting reclaimed commission). An amount less than £10 will be held to your credit and can be utilised against any future insurance policy with us.

If a policy is cancelled, we will refund any return premium due (after deduction of the commission and our charge). Return premiums can only be allowed once the appropriate credit has been made to our account by the insurer, and their account reconciled.


When we receive notification of an incident that might give rise to a claim under your policy, we will inform the insurer without delay and, in any event, within three working days.

We will advise you promptly of insurers’ requirements concerning claims, including the provision, as soon as possible, of information required to establish the nature and extent of a loss.

We will forward any payments received from insurers in respect of any claim, to you, without delay.

We will notify you of any request for information we receive from your insurers.

Customer Protection information

It is our intention to provide you with a high level of customer service at all times. If there are occasions when we do not meet your standards, please contact the member of staff you were dealing with, either verbally or in writing. They will make every attempt to resolve the situation to your satisfaction but if they are unable to do so by close of business on the next working day, we will then acknowledge in writing, advising you of who is dealing with the matter and attempt to address this within 5 working days. If our investigations take longer, we will provide a full response within 20 working days, or explain our position and provide timescales for a full response.

If you remain dissatisfied, please ask to speak to one of the Directors of the business. If we find that your complaint is valid, we will agree with you a mutually acceptable form of redress.

By making a complaint, you do not prejudice your rights to any legal proceedings. The parties to a contract of insurance covering a risk situated in the United Kingdom are permitted to choose the law applicable to the contract. English Law will govern your insurance.

If we are unable to satisfy your complaint you may be entitled to refer the matter to the Financial Ombudsman Service who can be contacted via their website (http://www.financial-ombudsman.org.uk) or by phone on 0845 080 1800.

Certain classes of insurance are covered by the Financial Services Compensation Scheme (FSCS). Further information is available from the FSCS who can be contacted on 020 7892 7300 or via their website (http://www.fscs.org.uk).

Confidentiality and Data Protection

All personal and sensitive information about our customers is treated as Private and Confidential.

We will only use and disclose the information we have about private individuals in the normal course of arranging and administering their insurances, and will not disclose any information to any other parties without their written consent. Unless we are notified of any changes, we shall assume the personal and sensitive data we hold about our customers is correct, and shall use it to provide quotations when policies fall due for renewal.

In the interests of security and to improve our service, telephone calls you make to us may be monitored and/or recorded.

We may pass information about you to credit reference agencies for the purposes of arranging payments by instalments, and may also pass to them details of your payment record with us.

Under the Data Protection Act 1998, private customers have a right to see personal information about them that we hold in our records. A charge may be made for this service. If you wish to exercise this right, or have any other related queries, you should write to us at the address shown.

The Claims and Underwriting Exchange Register

Insurers share information with each other via the Claims and Underwriting Exchange Register, and the Motor Insurance Anti-Fraud and Theft Register, to aid the prevention of fraudulent claims.

In the event of a claim, the information you supply on the claim form, together with any other information relating to the claim, will be put on the Registers.

Motor Insurer Information Centre (MIIC)

Insurers are legally required to provide and maintain details of motor insurance policies to the Motor Insurance Database to which the police and others have access. This helps the pursuance of claims following accidents and aids detection of those who are in contravention of the law by not taking out insurance.

Use for marketing purposes

We may use information held about you, to provide you with information about other products and services which we offer, and which we feel may be appropriate to you, by email, telephone, post or other means.

You may exercise your right to give notice to stop data being processed for marketing purposes by contacting us at any time. Please call us on 01942 765333 or write to us at the address shown.

Policy terms and conditions and warranties

You should read through all policy terms, conditions and warranties shown on your policy documentation. Please ensure you understand them and are able to follow their requirements exactly. If not, please advise us immediately, as a breach of any terms, conditions or warranties may enable your insurer to terminate your policy from the date of that breach, and/or repudiate a claim under your policy.