Please read this document carefully. It sets out the terms
on which we agree to act for our clients and contains
details of our regulatory and statutory responsibilities.
Confidas is a trading style of Smith Greenfield Services PLC
Smith Greenfield Services PLC is authorised and regulated by the
Financial Conduct Authority (FCA) reference number 300546. The
FCA is the independent watchdog that regulates financial services.
Smith Greenfield Services PLC is permitted by the FCA to advise
on, arrange and assist in the administration and performance of
general insurance contracts.
The above information is available to check on the FCA’s Register
by visiting the FCA’s website www.fsa.gov.uk/register
contacting the FCA on 0800 111 6768.
Smith Greenfield Services PLC has no direct, or indirect, holding
in any insurer and no insurer has any direct, or indirect, holding in
Smith Greenfield PLC
The FCA classifies customers as follows:
A Retail customer is an individual who is acting for purposes which
are outside their normal trade, business or profession, that is,
arranging mainly personal insurances.
A Commercial customer is one who is not a Retail customer, that
is, one who is effecting insurance to protect a business.
These classifications impact on how certain aspects of FCA
regulation affect your position and they are highlighted within
these Terms of Business.
Level of Service and Products Offered
In relation to the general insurance products we offer, we can
provide advice or information from a single insurer.
Whilst we will take all reasonable steps to place your insurance
with an insurer capable of meeting its future liabilities, we are
unable to guarantee the continuing solvency of any company and
do not accept liability for any losses arising or any additional costs
in replacing the insurance with an alternative insurer.
We aim to treat you fairly at all times by ensuring that we provide
you with insurance products, services and advice that are suitable
and meet your needs and expectations.
It is never our intention to put ourselves in a position where our
interests, or our duty to another party, prevent us from discharging
our duty to you.
Conflicts of Interest
Occasions can arise where we, or one of our other customers, will
have some form of interest in business that we are transacting for
you. If this happens, or we become aware that our interest or that
of one of our customers conflicts with your interest, we will inform
you and obtain your consent before we carry out your instructions.
As an example, a conflict of interest may arise where we have
authority to settle claims on behalf of the insurer.
The remuneration we receive for our services is normally in
the form of brokerage, which is a percentage of the insurance
premium paid by you and allowed by the insurer with whom the
insurance is placed. We remind Commercial customers of their
right to be informed of the level of brokerage which we receive
from an insurer, before conclusion of each insurance contract or
upon renewal. At any time, Commercial customers may request
information regarding any brokerage which we may have received
resulting from placing their insurance business.
There may be occasions where we will charge you a fee for
advice or services in addition to any insurance premiums. Where
this is the case, we will fully explain the basis of our charging and
agree with you what the fee is for and when the fee is payable
before charging that fee. Any other fees relating to any particular
insurance policy will be included in the quotation you receive.
In addition to such brokerage or agreed fees basis of remuneration,
we may also benefit from:
- Expense allowances or commissions from insurers for managing
and administering certain covers, binding authorities and other
- Earnings which we are able to generate due to the weight of
our account placed with certain insurers and its underwriting
performance, which is not identifiable to any specific account.
These arrangements do not affect the recommendations we make
to you which remain wholly based on your demands and needs.
Premiums must be paid in full prior to the inception date of the
policy or by the due date in respect of renewal. Unless we have
agreed alternative arrangements in writing, failure to do so may
invalidate the cover and enable insurers to cancel the policy.
Where insurers have specified that the premium must be received
by a certain date by application of a Premium Payment Condition
or Warranty and we have advised you of this, failure to comply may
entitle them to cancel cover from inception.
Client Money (General)
Confidas is governed by strict rules pertaining to Client Money,
set down by our Regulator the Financial Conduct Authority. We
may earn interest on monies held in our Client Account, for which
you consent to our retaining. Client Money will be deposited in
an approved bank. The monies paid by you to us may be held on
a Non Statutory Trust basis or held by us as agents of insurers as
Client Money (Non Statutory Trust)
Confidas holds its Clients’ Monies on trust. This means that whilst
we have legal ownership over Client Monies, such money remains
in the beneficial ownership of our clients.
Client Money (Holding money as an agent)
Confidas acts as agents for a number of insurers for the collection
of premiums and payment of claims and refunds of premiums.
This means that premiums are treated as being received by these
insurers when received in our bank account and that any claims
money or premium refund is treated as received by you when it is
actually paid over to you.
Payments to Third Parties
We may transfer Client Money to another person, such as
another broker or settlement agent, for the purpose of effecting a
transaction on your behalf. On occasions, Client Money may be
passed to organisations outside the UK. The legal and regulatory
regime applying outside the UK may be different from that of
the UK and, in the event of failure of a third party outside the UK,
this money may be treated in a different manner from that which
would apply if the money were held by a third party organisation in
Retention of Documents
We reserve the right to retain certificates and other policy
documents at this office until all payments due under the policy
have been made in accordance with our invoice or statement.
By accepting this agreement, you agree that delivery of any
Certificate of Insurance to us shall constitute delivery to yourself
in accordance with legal requirements. Should we withhold any
documents, we will ensure that you are provided with full details of
your insurance cover.
If you have occasion to claim or an incident arises that may give
rise to a claim on your policy, you must advise us immediately
so that we can ensure that your claim is passed to the insurer
promptly. If we cannot deal with the notification we will advise you
accordingly. You should not admit liability nor agree to any course
of action, other than emergency measures carried out to minimize
the loss, until you have agreement from your insurer.
We have the authority, in certain circumstances, to settle claims on
behalf of UK Insurance Ltd.
Duty of Care and Confidentiality
We will keep records of all our business transactions for a
minimum period of three years. We treat all our clients’ records as
confidential even when they are no longer a client. Information
provided to us by you will be used solely for the purposes of
providing insurance broking and premium finance services to you,
or to others where we are legally obliged to do so, or to meet
our regulatory requirements. We cannot be held responsible for
incorrect data held in the event of non-disclosure.
Insurers pass information to the Claims and Underwriting Exchange
run by Insurance Database Services Ltd and the Motor Insurance
Anti-Fraud and Theft Register run by the Association of British
Insurers. The aim is to check information provided and also prevent
fraudulent claims. Motor Insurance details are added to the Motor
Insurance Database run by the Motor Insurers Information Centre
that has been formed to help identify uninsured drivers and may be
searched by the police to help confirm who is insured to drive. In the
event of an accident the database may be used by insurers and the
Motor Insurers Bureau to identify relevant policy information.
Under the Data Protection Act 1998, you have the right of access
to your personal records held on our files. This may incur a small
administration fee and we will tell you what the fee is if you ask for
a copy of your information.
Should you require clarification of your rights under the Data
Protection Act visit www.ico.gov.uk
or telephone 08456 30 60 60.
Complaints and the Financial Services Compensation
We will endeavour to act fairly and reasonably at all times and
provide you with a professional service. Should you have any
complaints about the service provided, please contact us in writing
to The Compliance Officer, Confidas, Stephenson House, 2 Cherry
Orchard Road, Croydon, CR0 6BA, or telephone us on 0208 603
7157. If you cannot resolve your complaint with us, you may be
entitled to refer it to the Financial Ombudsman Service (FOS) to
which we subscribe. The contact details are as follows:
The Financial Ombudsman Service, South Quay Plaza, 183 Marsh
Wall, London E14 9SR or email
The telephone number is 0845 080 1800
The FOS is available to Retail customers and Commercial
customers with a turnover of less than £1,000,000.
We are covered by the Financial Services Compensation Scheme
(FSCS) and 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 £2,000
and 90% of the remainder of the claim, without any upper limit.
For compulsory classes of insurance, insurance 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.
Money Laundering/ Proceeds of Crime Act
Under UK Money Laundering regulations, we are obliged to report
to the Serious Organised Crimes Agency any situation giving rise
to a suspicion of money laundering and we are prohibited from
disclosing any such report.
Policy documents will be issued to you as quickly as possible after
receipt from insurers. When a policy is issued you are strongly
advised to read it carefully as it is this document, the schedule and
any certificate of insurance which forms the basis of the insurance
contract you have purchased. Particular attention should be paid to
any policy conditions, exclusions, warranties and claims provisions
as failure to comply may invalidate your cover. If you are in doubt
about these, please seek our advice promptly. For certain types of
insurance, for example Employers and Public Liability, it is possible
that a claim may be made under a policy long after expiry date of
the cover. It is therefore important that all policy documentation is
kept safely, particularly that which may be called upon to provide
protection beyond the expiry date of cover.
The insurance industry is often called upon at very short notice
to provide protection for customers wishing to transfer a risk.
However, quite often there is uncertainty, either by the customer
as to exactly what level of protection was provided and for the
insurer not knowing exactly what it is they are insuring. To help
avoid disputes from uncertainty, the insurance industry has
produced a code of good practice to help provide ‘Contract
Certainty’ before protection starts. Confidas has agreed to abide
by the code, which requires that the full wording be agreed by all
parties before any insurer formally commits to the contract. The
code also has service standards for issuing appropriate evidence of
cover in a reasonable time. These are within 30 calendar days after
inception or renewal date for Commercial customers or within 7
working days after inception or renewal date for Retail customers.
Where you are a Commercial customer and a corporation or entity
which is not a natural person, unless we are specifically advised to
the contrary in writing, we will be entitled to assume that everyone
within your organisation (which term for this purpose includes
any parent, subsidiary or associated company) who actually gives
instructions to us which we accept and act upon, has the requisite
authority to do so on behalf of the organisation.
Our services may be terminated either by us or you upon the
giving of a minimum of fourteen days notice in writing to the other
or as otherwise agreed.
In the event our services are terminated by you, we will be entitled
to receive any and all fees and brokerage payable (whether or
not the same have been received by us) in relation to the policies
placed by us.
In the event that we no longer place insurances for you and if we
continue to handle your claims, we may seek to agree a fee for
These Terms of Business shall be governed by the laws of England
and Wales and the parties agree herewith that any dispute arising
out of it shall be subject to the exclusive jurisdiction of the English