Terms of Business Agreement
Cornwall & Devon Insurance Services Limited TOBA
Version 3 15th January 2021
The following Terms of Business Agreement sets out the basis on which Riviera Insurance Services Limited will provide business services to you as a consumer or commercial client of the firm.
Please contact us immediately if there is anything in these terms of business which you do not understand or with which you disagree. We are happy to answer any questions and willing to
explain these terms and the reasons for them.
YOU ARE DEEMED TO HAVE ACCEPTED THESE TERMS OF BUSINESS UNLESS YOU ADVISE US OTHERWISE WITHIN 7 DAYS OF RECEIPT.
Telephone 01566 772282
3 Race Hill, Launceston, Cornwall PL15 9BA
We are an appointed representative of Riviera Insurance Services Limited who are authorised and regulated by the Financial Conduct Authority 786116. Riviera Insurance Services Limited are
permitted to advise on; deal as an agent of insurers and clients; assist in claims handling in respect of non-investment insurance policies. You can check these details online using the Financial
Services Register at https://register.fca.org.uk/ or by contacting the Financial Conduct Authority Consumer Helpline on 0800 111 6768.
We are also authorised by the FCA for consumer credit broking and act for one lender.
Our scope of service
We offer a wide range of insurance products and have access to leading insurers in the marketplace. When we arrange your insurance we will inform you of the nature of the service we
provide. This will usually be advice only, with or without a personal recommendation.
A personal recommendation to buy a policy, on the basis of a fair and personal analysis if the market.
We generally act on your behalf in arranging your insurance, but we’ll make clear at the outset whether we are acting for you or for the insurer in particular circumstances.
Your duty of disclosure
Consumers: You must take reasonable care not to make a misrepresentation to the insurer. This means that all the answers you give and statements you make as part of your insurance
application, including at renewal and when an amendment to your policy is required, should be honest and accurate. If you deliberately or carelessly misinform the insurers, this could mean
that part of or all of a claim may not be paid.
Non-consumer customers: Where we arrange insurance wholly or mainly for purposes related to your trade, business or profession, you have a duty under The Insurance Act 2015 to make a
fair presentation of the risk. This means that you must disclose every material circumstance which you and/or your senior management and/or anyone responsible for arranging your insurance
know or ought to know. Alternatively, you must disclose sufficient information which would put the insurer on notice that it needs to make further enquiries for the purpose of revealing those
material circumstances. You are expected to carry out a reasonable search in order to make a fair presentation of the risk and will be deemed to know what should reasonably have been
revealed by the search.
Your duty of fair presentation applies at the start of the policy, at renewal and when any variation of the policy is arranged. If you fail to make a fair presentation, the insurer may refuse to pay
your claim or reduce the settlement amount, depending on the circumstances.
Protecting your information
We take your privacy extremely seriously and we will only use your personal details in line with our Privacy Notice. Please read our Privacy Notice carefully which can be found on our website
(www.cornwallanddevon.co.uk) and contact us immediately if you have any queries. Where necessary, for example where we would like to use your data for some marketing purposes, we
shall ask for your specific consent to do so. Your personal information includes all of the details you have given us to process your insurance policy (we will not ask for more information than is
necessary). We may share your data with Third Parties for the provision and ongoing performance of your insurance policy. Your data may be transferred outside the UK. We will not sell, rent
or trade your data under any circumstances. All of the personal information you supply to us will be handled strictly in accordance with the applicable Data Protection regulations and
All (including any named drivers) driving licences and national insurance numbers may be checked against the DVLA database.
By accepting these terms and conditions you agree to these uses of your information.
How to claim
Please refer to your policy summary or your policy document if you need to notify a claim. You should contact us or the insurer direct as soon as you become aware of any incident which could
give rise to a claim. If in doubt about whom you should contact, or if you require our assistance in relation to a claim or potential claim please contact us.
Fees and charges
Please refer to our tariff of administration charges for fees payable under this Terms of Business Agreement. These charges apply if you instruct us to arrange insurance, carry out a mid-term
adjustment, renewal, cancellation or other work on your behalf.
If you pay your premium by instalments we shall inform you of any additional fees, charges or interest as part of your credit arrangements.
Tariff of Charges
In addition to the premium’s charges by insurers, we normally make charges to cover the administration of your insurance. Full details of our standard charges are here and the charges will be
confirmed with you before any chargeable commitment is made by Cornwall and Devon.
By accepting this Terms of Business Agreement, you are giving your consent for us to operate in this way. For payments by instalments, a minimum deposit of 20-25% is required depending on
the type of insurance. This applies to annual policies only, minimum premiums apply.
It is not economical or practical to issue refund cheques of small amounts. Where a transaction would result in a refund to you of less than £3.00 this amount will be retained by us as an
additional service charge.
Our payment terms are on immediate invoice. We require payment to terms. Payments must be made on time, in full and without deductions, set off or counterclaim. In the event, that our
account is outstanding we will refer the matter to our debt collection agent, Insurance Collection Bureau Limited, which will incur costs. Any costs incurred to collect the debt will be added to
the debt, plus VAT at the prevailing rate. You agree that you will be liable to pay us that surcharge, and that payment of the same can be enforced against you in court – If you are a commercial
customer you agree to pay the interest at the relevant reference rate provided for under the Late Payment of Commercial Debts (Interest) Act 1998, which interest is payable both after and
before and judgement of the court continues to accrue.
Cornwall & Devon Insurance Services offer a facility to pay for your insurance through a credit loan company who set up an agreement to spread the cost of your insurance over several
months. In this instance, your premium is paid by the credit company and your monthly payments are to repay the loan with them. Please note that your loan is not directly connected to your
insurance company and you must meet the monthly payments, regardless of any changes to, or cancellation of your insurance policy. If you have any questions with regards to the credit
agreement, please contact us on 01566 772282.
In return for placing business with insurers and/or underwriters and/or other product providers, we generally receive a commission from them which is a percentage of the annual premium
that you are charged.
For arranging premium instalment facilities we earn commission from our premium finance provider(s) which is usually a percentage of the individual loan. This means that the amount you
pay for credit and the overall cost of arranging your insurance will vary according to the interest charged by the lender and the amount of commission we earn.
Using premium finance makes the overall cost of the insurance more expensive.
A full breakdown of the cost of your insurance and the cost of credit will be provided as part of your new business or renewal quotation before you make a decision whether to proceed.
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 or arranging premium finance.
Please be assured that at no time will the way in which we are remunerated conflict with our responsibilities to meet your needs and treat you fairly.
In respect of some classes of insurance we may operate block insurance arrangements in order to provide competitive terms. This is where we place all insurances of a certain type with one
insurer who can provide particularly competitive terms for all our customers. On occasions it will be necessary for us to transfer such blocks from one insurer to another where this is beneficial
for our clients. This Terms of Business Agreement constitutes both your acceptance that we may do this and your prior request for us so to do.
Protecting your money
Prior to your premium being forwarded to the insurer (or forwarded to you in the event of a premium refund) we hold your money as an agent of the insurer with which we arrange your
insurance in a trust account with an approved bank. Where we hold premium as the agent of the insurer it is regarded as received by the insurer. We reserve the right to retain interest
earned on our client bank accounts.
By accepting this Terms of Business Agreement, you are giving your consent for us to treat your money in this way. Please notify us immediately if you have any objection or query.
It is our intention to provide a high level of service at all times. However if you have reason to make a complaint about our service you should contact us immediately using the contact details
on the first page of this document. You may be entitled to refer the matter subsequently to the Financial Ombudsman Service. You can contact the Financial Ombudsman Service by telephone
on 0800 0 234 567 and further information is available at http://www.financial-ombudsman.org.uk/. If you do decide to refer any matter to the Financial Ombudsman Service your legal rights
will not be affected. We will provide a summary of our complaints handling procedures should you make a complaint which we cannot resolve informally and at any other time, upon your
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 the claim. Insurance advising and arranging is covered for 90% of the claim, without any upper limit. For compulsory classes of insurance, insurance advising
and arranging is covered for 100% of the claim, also without any upper limit. The compensation scheme does not apply to consumer credit. Further information about compensation scheme
arrangements is available from the FSCS on 0800 678 1100 or 020 7741 4100 or by visiting http://www.fscs.org.uk/
Money laundering/Proceeds of crime
We are obliged to report to the National Crime Agency any suspicion of money laundering or terrorist financing activity and we are prohibited from disclosing any such report.
Adequacy of insurance values
It is the responsibility of the insured to ensure that all sums insured and policy limits are adequate. Whilst we seek to assist in establishing and maintaining insured values and indemnity limits
we cannot accept responsibility for their accuracy. It is strongly recommended that the appropriate Professional (e.g. Surveyor/Accountant) be consulted to ensure that the sums insured and
limits under the policy are suitable.
Conflicts of interest
In return for placing business with insurers and/or underwriters and/or other product providers, we receive a commission from them, which is a percentage of the annual premium that you
are charged with. 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 or arranging
Please be assured that at no time will the way in which we are remunerated conflict with our responsibilities to meet your needs and treat you fairly.
A third party may have introduced you to us and for this the introducer may be paid a fee by Cornwall and Devon Insurance. Similarly with your consent, we may introduce you to other third
parties, for which the third party may pay us a fee.
The insurers we use are regulated and are required to have adequate capital resources. However, we cannot guarantee the solvency of any insurer we place business with. An insolvent insurer
may be unable to pay claims or may be unable to pay them in full and you may have to pay a further premium to pay for alternative insurance cover.
How to cancel
You may have a statutory right to cancel a policy you take out through us within a short period. Please refer to your policy summary or your policy document for further details. If you cancel
within the statutory cancellation period (where this applies) you will receive a pro rata refund of premium from the insurer.
Insurers are also entitled to make an administrative charge. In addition, we may keep an amount which reflects the administrative costs of arranging and cancelling the policy. Our new
business arrangement fee or renewal charge and any credit card handling charge made for arranging your insurance policy will not be refunded. Full details of our charges are given in our tariff
of administration charges.
If you wish to cancel outside the statutory cancellation period (where this applies) you may not receive a pro rata refund of the premium. We may also keep an amount that reflects the
administrative costs of arranging and cancelling the policy. Our new business arrangement fee or renewal charge and any credit card handling charge made for arranging your insurance policy
will not be refunded. Full details of our charges are given in our tariff of administration charges.
If you make a claim on your policy and then it is cancelled, you may not be entitled to any refund (please see your individual insurer’s terms and conditions). You will also be liable for any
outstanding payments to the credit provider if you have chosen to pay by direct debit.
We may cancel your insurance at any time by sending seven days’ notice in writing to the address on our records. You may be entitled to a refund subject to your insurance terms and
conditions and no claims having been made in the period since last renewal. If you pay your premiums by instalments and we do not receive or unable to collect any payment by the due date,
we will treat this as cancellation by you and any refund will be given directly to your finance provider. Any remaining balance after this has been given will be owed to the finance provider by
you. In the event of your vehicle being declared a total loss, we will cancel the insurance. The full premium including Insurance Premium Tax will be due from you.
Cancellation of optional extra policies
If you cancel your insurance, any associated optional extra policies you purchased will not be cancelled unless you ask us at the same time.
Any refund due will be paid to you less our initial commission and our 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 that if you are paying by direct debit through a credit company, you will have to settle any outstanding balance with them. No refund will be allowed if there is
an outstanding claim or if a fault claim is made on your policy. Your insurer will require written evidence that you have insured your vehicle elsewhere to allow a pro rata refund.
Law and jurisdiction
These Terms of Business shall be governed by and construed in accordance with English Law and shall be subject to the exclusive jurisdiction of the courts of England and Wales.