TERMS OF BUSINESS

PLEASE READ CAREFULLY

DEFINITIONS

The words 'we', 'our' and 'us' mean and refer to Sportinsure Ltd and any of its subsidiaries. The words 'you' and 'your' mean and refer to the client of Sportinsure Ltd to whom these terms are issued. Please read this document carefully. It sets out the terms on which we agree to act for you and contains details of our regulatory and statutory responsibilities.

STATUS

Sportinsure Ltd is an insurance intermediary who acts on your behalf. We offer bespoke insurance products and represent a number of Insurers. Our services include advising you on your insurance needs, arranging your insurance cover with insurers and assisting you with any subsequent event or alteration to the insurance we have placed.

REGULATION

Sportinsure Ltd undertakes to comply with The Financial Conduct Authority (FCA) rules for the selling of general Insurance. We are authorised and regulated by The Financial Conduct Authority – Membership Number 612466. We are licensed under the Consumer Credit Act and registered under the Data Protection Act.

REMUNERATION

We are remunerated mainly by means of commission payments from insurance companies. In some cases we will charge fees in addition which we will agree with you beforehand; where we receive commission from any insurer we will disclose the amount to you on request. We reserve the right to make charges in addition to any insurance premiums, for the: arranging, amending, renewing and cancellations of any insurance. In the event of a policy being cancelled mid term, and not replaced by another policy, we reserve the right to retain the commission earned on the original transaction. You will receive a quotation (either via our website or separately in writing) which will tell you the total price to be paid, and which identifies any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded.

CHARGES

We reserve the right to make charges in addition to any insurance premiums, for the: arranging, amending, renewing and cancellations of any insurance. These charges will be advised to you before they are included.

YOUR DUTY TO GIVE INFORMATION

It is important that you understand your duty to provide all materially important information, fully, completely and accurately to us and your insurers not only when you take out your insurance, but also throughout the life of your arrangement, at the annual review, or at any other time when changes occur.

Materially important information is any information that could influence an insurer’s decision to accept your risk including the cost of your insurance. For example, details of previous insurance claims that you have made, or reported. Personal information about you, such as Criminal Convictions (you have a duty to give this information even when the insurance relates to a business and not you). General information about the risk, such as the construction of a building, (for example, concrete floor, timber frame with brick, stone, and a slate roof) if you are not sure how much information to provide or do not understand the question please ask. The reason why this is extremely important is that if you fail to tell us something, your policy could leave you with no insurance protection; insurers may not pay any claims and could cancel your policy. You will find it difficult to re-arrange cover because you did not tell an insurer everything, and you will have to disclose this fact when you re-apply for insurance. Failure to disclose these facts may leave you with no cover and a claim not paid. If you are in any doubt whether information is relevant you should disclose it. Please refer to appendix that provides further examples of facts that need to be disclosed.

CLAIMS

When you first become a customer, we will give you details of how you can make a claim and tell you what your responsibilities are in relation to making claims. If you suffer a loss or circumstances that might lead to a claim you must notify us as soon as is reasonably practicable. We will promptly advise you about the process that should then be followed. If appropriate we will issue you with a claim form and pass all details to your insurer. You should not admit liability nor agree to any course of action, other than emergency measures carried out to minimise the loss, until you have agreement from your insurer. Many policies require insurers to be notified of a possible claim, or circumstances which may lead to a claim, before any formal claim is made on you by a third party. You should ensure that you are familiar with the provisions of your policy concerning the notification of claims or circumstances which may lead to these claims, and should adhere strictly to them, as failure to do so may entitle insurers to refuse to meet the claim.

CONFIDENTIALITY

Unless required by law, public interest, our regulator The Financial Conduct Authority, or with your prior written consent, all information you supply will be kept confidential to Sportinsure Ltd, its member and associated companies and the parties involved in the normal course of arranging and administering your insurance.

RIGHT OF INSPECTION

We keep records of all business transactions for at least six years, unless you request otherwise. You may inspect details at any time but we treat all client records as confidential, so we reserve the right to give you copies of your particular record, rather than allow access to files containing records about other clients.

DATA PROTECTION

Under the Data Protection Act 1998 you have the right to see personal information about you that we hold in our records. Should you wish to exercise this right a small administration fee may be incurred. If you have any queries please write to us Sportinsure Ltd, 348 Bromford Lane, Ward End, Birmingham B8 2RZ.

We may share information about you and the conduct of your account with affiliated companies: to provide you with the service applied for; to assist in servicing your other relationships with affiliated companies; to assist in making credit decisions; for the purpose of fraud prevention (if you have provided false or inaccurate information and fraud is suspected, this will be recorded), audit or debt collection; so that services may be processed on your behalf; Other third parties: to help resolve complaints; for the purpose of fraud prevention, audit or debt collection; or so that services may be processed on your behalf.

We may contact you by post, telephone or email with information about our services and those of affiliated companies and about services of carefully selected third parties, that we feel from the information we hold about you may be of interest to you. If you would prefer not to receive such information please write to us Sportinsure Ltd, 348 Bromford Lane, Ward End, Birmingham B8 2RZ.

ELECTRONIC COMMUNICATIONS

We may communicate with each other, and with parties with whom we need to communicate in order to provide services to you, by email, and sometimes attach further electronic data. By doing this we and you accept the inherent risks (e.g. viruses, unauthorised access/interception). Our systems do have virus checking processes but you will be responsible for virus checking all electronic communications sent to you and for checking that the messages received are complete.

INSURER SOLVENCY

Whilst it is our intention to place your insurance with a financially secure insurer, and although the FCA and Prudential Regulatory Authority requires insurers to maintain a minimum level of capital, it must be understood that we cannot guarantee the solvency of any insurer throughout the period of the insurance contract. We do not have the facility to audit insurers and cannot accept liability for any losses that might be suffered by you should your insurer be declared insolvent or otherwise be unable to meet their financial obligations to you.

POLICY TERMS

You must carefully read all insurance documents that we send you, to ensure they meet with your requirements. If you are in doubt over any of the policy terms or conditions please contact us immediately for clarification. Policy documents are available upon request.

DELEGATED AUTHORITY

This means that in some cases we will act as the agent of one single insurer. If your insurance is placed via a Delegated Authority we will only obtain quotations from one insurer; we will only place cover under a Delegated Authority where we consider it meets your needs. We will disclose to you the name of the insurer at the outset and subsequently on request.

RETURN PREMIUM

All returns of premium following cancellation or adjustment will be given net of commission received from the underwriters. Note: for the avoidance of doubt brokerage fees are non-refundable.

PAYMENT DEFAULTS

Should we receive notification from our bank with regard to un-cleared cheques, £20.00 will be requested for each re-presentation and £35.00 will be requested for each cheque completely returned to us. These charges are correct as at January 2013, we reserve the right to alter these charges without prior written notification. Please note that if you do not make payments on time or if we receive a notification of default from our bank, we will attempt to contact you to discuss but please be aware that making payment on time is your responsibility; in all cases we reserve the right to notify insurers of the cancellation of your cover without necessarily notifying you. Please note that if you enter into any credit or loan arrangement with an insurer or other third party the lender normally reserves the right to cancel your cover should you default and lenders may instruct us to cancel your insurance if you have breached your loan terms. In these circumstances we must comply with any request from a lender to cancel your cover.

CHANGES TO YOUR COVER

We will normally deal with requests to increase or amend your insurance cover on the day your instructions are received or the next working day if a weekend or Public Holiday. Sometimes changes cannot be processed without obtaining additional information. If additional information is required we will contact you as quickly as possible. We will confirm changes to your policy, once agreed, in writing. We will also advise you of any extra premiums you must pay or return premiums due to you. We reserve the right to retain our commission from any premium returns. Should an amendment to the contract be made, including renewals, we reserve the right to apply an administration charge to cover the cost of the extra work involved in such amendments. See Key Facts Document for further details.

HANDLING CLIENT MONEY

We have agency agreements in place with all insurers which permit us to act as their agent in handling premium payments and premium returns. In these circumstances insurers – through the agency agreement – grant what is called a 'risk transfer'. This means that when you pay a premium to us, the insurer deems this to be payment to them. Return premiums paid by insurers through us are not deemed to be paid until received by you.

Payments are spread through insurer's instalment plans, for which there is no additional charge. In exceptional circumstances we may accept payment by cheque or electronic transfer. Payments due must be paid to insurers or to unless otherwise agreed. Failure to meet this requirement may result in insurers cancelling the policy and imposing a time on risk charge.

LIMITATION OF LIABILITY - IMPORTANT NOTICE

1. This section forms part of our Terms of Business. We accept instructions to act on your behalf strictly subject to the following limitation upon our liability.

2. Our liability to you for any act or omission (including breach of contract or negligence and/or the negligence of any other parties in respect of which we are legally liable to you), whether such liability be in damages, equitable compensation or otherwise, shall not exceed the sum of £1,000,000 or its equivalent from time to time in Euros or any other relevant or appropriate currency in respect of any one transaction or series of related transactions. This figure has been carefully chosen in order to enable us to offer reasonable redress to our clients in the event of a claim, whilst enabling us to retain competitive levels of fees and commissions and make appropriate arrangements to ensure that any proper claim is met. This section does not apply to awards made by the Financial Ombudsman Service in the exercise of his compulsory jurisdiction.

3. In section 2 above:

i. ‘negligence’ means a breach of any obligation upon us to take required care, whether that obligation is imposed by virtue of a term (express or implied) of any relevant contract, or by the law of negligence, or otherwise; ii. ‘transaction’ means any professional service provided by us to you, including (but not limited to) the arranging of insurance, advising on insurance cover and/or on particular wordings, notification of claims to insurers, and claims handling generally;

iii. ‘a series of related transactions’ has its ordinary meaning (save that ‘transaction’ has the meaning given at (ii) above), but includes (without limitation), (a) transactions concerning, connected with or arising out of the same policy of insurance or reinsurance arrangement, or, (b) where different policies or arrangements insure or reinsure (as the case may be) all or some of the same risks, transactions concerning, connected with or arising out of some or all of those policies or arrangements.

4. We are always prepared to discuss increasing the limit of our liability specified in this section in relation to any individual engagement, if particular reasons exist, but we reserve the right to decline to increase the limit or (in the event that we agree to increase it) to make an additional charge or to impose alternative or additional conditions. No agreement to increase the limit shall be valid unless made in writing and signed by a director of Sportinsure Ltd.

5. Under these Terms of Business, you agree not to make any claim against any employee, director, partner, consultant or other individual connected with us. See paragraph 6 below. However, it is also understood and agreed that if for any reason the provisions of paragraph 6 hereof are held to be invalid or unenforceable in whole or in part, any claim made by you against any employee, director, partner, consultant or other individual connected with us is also subject to the limit of liability of £1,000,000 contained in this clause, and you understand and agree that any such individual may avail himself of this limitation.

6. You agree: i. that your remedies in relation to the provision of professional services by us, arising out of or in connection with this engagement, lie exclusively against us and not against any employee, director, consultant or partner as individuals; ii. that you will not make any claim and/or bring any legal proceedings against any employee, director, partner, consultant or other individual, in respect of any act or omission by any such person or persons (whether negligent or not). You understand and agree that the provisions of this clause may be enforced by any employee, director, partner, consultant or other individual connected with us in accordance with the Contracts (Rights of Third Parties) Act 1999.