Terms of Business

AKP Insurance Services is authorised and regulated by the Financial Services Authority. We are permitted to arrange and deal as an agent of insurers and clients, with respect to non-investment insurance policies. You can check these details by visiting their website at at http://www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

Your Duty of Disclosure
We will ask for and seek all relevant information from you in order to recommend an appropriate policy. You must supply us with the requested information, as failure to do so, or to provide incorrect information may lead to you buying an inadequate product or worse, the insurer may not pay a claim.
Insurer's request all "material facts" to be disclosed, which may be described as any fact, if known, which may be likely to influence their decision to accept a risk and on what terms. If any information supplied changes during the course of the policy period, you must notify us immediately as this may influence the cover and policy terms and conditions.

Confidentiallty/Data Protection Act
We will treat all customer's personal information in a confidential manner and we will ask a series of questions to ensure that we are speaking to our customer and not a person who is not authorised to ask questions or to give instructions to us.
We can only take instructions to effect or to alter a policy in some way from the Policyholder or their legal representative. Your data is held in compliance with the legislative requirements.

Our Quotation to You
All premiums quoted are inclusive of HM Goverment Insurance Premium Tax.
We reserve the right to withdraw premium indications before they are taken up and to apply any changes notified to us by underwriters after the indication is given.

Evidence of No Claims Bonus
In consideration of being granted temporary insurance cover under a policy without providing us with evidence of no claims bonus, you undertake to provide such evidence within fourteen days of the commencement date. If you do not provide such evidence you must pay such increased premium as results from your failure to provide evidence. In the event that the policy has to be cancelled as a result of failure to provide bonus proof and
you failing to pay any increased premium, you will be asked to pay a time on risk charge based on the total gross premium plus a cancellation fee.

Cancellation
You have certain rights of cancellation in the early stages of a policy life and these are shown in the Insurer's policy details document.
Policies vary between Insurers but be aware that cancellation refunds are not given after a claim and are otherwise calculated on a short period scale weighted in favour of the insurers as their costs are similar whether a policy has run for one day or for one year.
Also please be aware that we do not refund commission since this is earned for arranging the policy (unless you are replacing a policy through our agency with another Insurer ).

Instalments
If your payment is arranged by instalments a credit agreement is issued. Your attention is drawn to the terms and conditions of the agreement as charges are made for interest and administration.

Ownership
There is no ownership between ourselves and any insurer.

Tacit Renewals
In the event that your renewal is being paid by instalments, we will notify you, prior to renewal date of the premium and terms and conditions which will apply. Unless we hear from you on or prior to renewal date your policy will be renewed.

Premiums Received
Your premium paid to us is held by us as agent of the Insurer where we are granted Risk Transfer, otherwise it will be held in a Statutory Trust Client Bank account.

Complaints Procedure
Should you have any cause for complaints, please contact us in the first instance, in order that the situation may be resolved to your satisfaction.
In the event that we are unable to resolve your complaint, we will acknowledge your complaint within five working days advising you of the person who will be investigating the circumstances. We have a complaints procedure and you will be provided with a copy if we are unable to resolve the
matter within four weeks.
Should you wish to take the matter further you may refer your complaint to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR.

Financial Services Compensation Scheme
We are covered by the Financial Services Compensation Scheme. 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 your 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.

Law
This agreement shall be governed by the Laws of England, Wales or Scotland and the parties agree herewith that any dispute arising out of it shall be subject to the (non) exclusive jurisdiction of the relevant Court.

AKP Insurance Services
9 High Street
Sutton Coldfield
B71 1XP

Telephone: 0121 3549992
FAX: 0121 3549111

CANCELLATIONS

Cooling of Period
You may have a statutory right to cancel this policy within a short period. Please refer to your policy summary or policy document for further details. If you cancel you will receive a pro-rata refund of the premium from the insurer, subject to their minimum charge. We will also keep an amount that reflects our administrative costs of arranging and cancelling the policy.

Mid Term Cancellations
If you wish to cancel outside the 'cooling off period', you may not receive a pro-rata refund of the premium; refer to policy wordings for details. We will also keep an amount that reflects our administrative costs of arranging and cancelling the policy. Please refer to our Tariff of Charges for further information.

A cancellation will only become effective from the date the Certificate/Covernote is received by AKP Insurance Services.
Any refund due will be allowed as a rebate to you at the NET amount given by the insurer, minus our initial commission, less our £30.00 cancellation charge. If there are any outstanding monies due to us on your account, this will be deducted from the refund given by the insurer. Please note if you are paying via direct debit through Singers, you will have to settle any outstanding balance with them after your refund has been allowed.

No refund will be allowed if there is an outstanding claim or if a fault claim is made on your policy. If you change your policy risk to something that is unacceptable to your insurer, you will receive a pro-rata refund at the NET amount, after our initial commission, less our £30.00 cancellation charge. Your insurer will require written evidence that you have insured your vehicle elsewhere to allow a pro-rata discount.

If you have purchased Vehicle Rescue and your policy is cancelled we are unable to issue a refund on this policy, as the Vehicle Rescue is not linked to your insurance premium. Please note that your Vehicle Rescue policy will continue to run it's course if your insurance is cancelled with AKP Insurance Services.

TARIFF of CHARGES

In addition to the premiums charged by insurers, we normally make charges to cover the administration of your insurance. Full details of our standard charges are set out below, and these charges will be confirmed with you before any chargeable commitment is made with us.

New Business Set up Charge upto £35.00

Renewal Charge £25.00

Special Delivery Post £7.50

Motor Legal Cover £20.00

Household Legal Cover £25.00

Adjustment Charge £15.00

Duplicate Certificate £15.00

Unpaid Cheque £25.00

Cancellation Charge £30.00

Commercial Charges are variable
In good time before the conclusion of each insurance contract, or upon renewal, we will remind you your right to be informed 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.