Resources

Introduction

Professional Fee Protection Ltd is an insurance intermediary acting on your behalf in arranging your general insurance. We provide the following services - the initial arrangement of cover, mid-term alternatives, renewal processing and claims handling. We only offer products for professional fees incurred in dealing with HM Revenue and Customs enquiries and VAT, PAYE and NIC disputes. You will not receive advice or a recommendation from us.

Our Status

Professional Fee Protection Ltd is authorised and regulated by the Financial Services Authority. Our FSA Register number is 311718.

Our permitted business is advising and arranging general insurance contracts. You can check this on the FSA's Register by visiting the FSA's website www.fsa.gov.uk/register (new window) or by contacting the FSA on 0845 606 1234. The FSA is the independent watchdog that regulates financial services. It requires us to give you certain information to decide if our services are right for you.

Remuneration

In the normal course of our business we receive income as follows:

Commission paid to us by insurance companies with whom we place business.

We reserve the right to make changes, details of which will be provided to you in writing before the conclusion of the contract.

Client Money

Client money is money of any currency that we receive and hold in the course of carrying on insurance mediation on behalf of our clients (including you) or which we treat as client money in accordance with the client money rules.

Client money will only be held on behalf on an insurer or underwriter in accordance with a written agency agreement. You will be notified if this will affect your policy.

Interest on Client Money

Any interest earned on client money held by us for customers will be retained by us for our own use, rather than paid to you.

Settlement Terms

We will be responsible for issuing requests for all new and renewal premiums and mid-term alterations as soon as practicable after inception or renewal of your policy. We will remit premiums to insurers in accordance with the agreed terms of business. You will be responsible for paying promptly all premiums to enable us to make the necessary payments to insurers. For the avoidance of doubt, we have no obligation to fund any premiums on your behalf. We also have no responsibility for any loss that you may suffer as a result of insurers cancelling the policy or taking any other prejudicial steps as a result of the late payment of such sums if such delay is attributable to you.

In certain circumstances, insurers may impose a specific premium term, whereby they require payment of a premium by a certain date. We must stress that breach of that term will entitle insurers to void the policy from inception of cover. You agree that the settlement of premiums in good time is your responsibility. We normally accept payment by cheque, debit card, credit card or direct debit.

Disclosure

It is your responsibility to provide complete and accurate information to insurers when you take out your insurance policy and when you renew your insurance. It is important that you ensure all statements you make on the proposal form, claims forms and any other documentation are full and accurate.

Please note that if you fail to disclose any material information or change of circumstance to your insurers this could invalidate your insurance cover and could mean that all or part of your claim may not be paid. We strongly recommend that the information provided is checked thoroughly prior to submission and that you keep a record of all correspondence in relation to the arrangement of your insurance cover.

Policy Documentation

We will issue policy documentation in a timely manner. Your policy documentation will confirm the basis of the cover, give details of the insurers, and be accompanied by a schedule.

We will take reasonable steps to ensure that retail customers will be provided in writing no less than 21 days before the expiry of the policy of the renewal terms, or advised if renewal is not being offered. For our commercial customers, this period will be 21 days.

You will be given an explanation of any changes and if you are a retail customer, the right to request a new policy document. We may keep certain documents, such as your insurance policy and/or certificates of insurance until we receive full payment and/or administration charges. In these circumstances we will ensure that you receive full details of your cover and any documents that you require by law.

Cancellation Rights

A retail customer has the right to cancel a general insurance contract within 14 days. In the event of cancellation, the insurers may return a pro rata premium to us based on the time on risk.

Claims

You must notify us within 30 days of the notice from HM Revenue and Customs opening the enquiry or challenging the returns. We will inform you what information is required.

Quotes

When we supply you with a quotation, we will confirm how long this will be valid for on the terms we have quoted, give you a written quotation including all the information you need to make an informed decision and give you a summary of the policy coverage.

Complaints

We take all complaints seriously. If you wish to register a complaint then please contact Professional Fee Protection: Customer Care, Professional Fee Protection, PFP House, 5, Sylvan Court, Sylvan Way, Southfields Business Park, Basildon, Essex. SS15 6TW. Alternatively, contact us by telephone on: 0845 307 1177. We will acknowledge your complaint in writing and tell you how we will handle it. If we are unable to settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. A copy of the complaints procedure is available upon request.

Compensation

Professional Fee Protection Ltd. is covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the FSCS if they cannot meet their 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.

Confidentiality

All personal information held by us in relation to you will be treated with the utmost confidence and, where appropriate, in accordance with data protection legislation, including the Data Protection Act 1988. You confirm that we may use and disclose information that we have about you in the normal course of arranging and administering your insurance.

Termination

You may terminate our authority to act on your behalf at any time without notice period or penalty. Notice of termination must be given in writing and will be without prejudice to the completion of any transactions already initiated. We may cancel at any time by sending 14 days notice to you at your last known address. Any business currently in progress will be completed unless we receive your instructions to the contrary. Any fees outstanding at the date of termination will be due within four weeks of the termination date.

Security

We do not guarantee the solvency of any insurer we place business with. A liability for the premium, whether in full or pro-rata, may arise under policies where a participating insurer becomes insolvent. In the event that an insurer becomes insolvent or delays making a claims settlement, we do not accept liability for any unpaid amounts.

Governing Law

These terms of business shall be governed by and construed in accordance with the Laws of England and Wales and the parties submit to the exclusive jurisdiction of the courts of England and Wales.