Terms of Business


1. Regulation. We, T Nadiotis Insurance & Financial Services Limited of 52 Ibsley Way, Cockfosters, Herts EN4 9EY are authorised and regulated by Financial Services Authority (FSA) to sell general insurance products. Our FSA register number is 307148 and you can check the FSA’s register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

2. Our Service To You. In arranging insurance for our customers we act as an independent intermediary and act on your behalf when arranging your insurance. Our service includes: advising you on your insurance needs; arranging your insurance cover with insurers to meet your requirements; and helping you with any ongoing changes you have to make. We offer a range of general insurance products and have access to a number of insurers (arrange insurance through one insurer for each product) with whom we place your insurance. We will give you details of these insurers when we discuss your individual requirements.

3. Disclosure of Information. It is important that you understand any information, statements or answers made by you to us or your insurer are your responsibility and must be correct. Any failure to disclose facts material to the insurer or any inaccuracies in your answers may invalidate your insurance cover in part or in whole. Facts material to the insurance are matters or information which may influence your insurer as to the acceptability or otherwise of your Proposal or Renewal must be disclosed immediately. You are advised to keep copies of documentation sent to or received from us for your own protection. Please do consult us if you are in doubt on any aspect. The disclosure of information not only applies at commencement and renewal of your policy, but also at anytime during the period of insurance.

4. Awareness of Policy Terms. When a Policy is issued you are strongly advised to read it carefully, as it is that document, the schedule and any certificate of insurance that is the basis of the insurance contract you have purchased. If you are in doubt over any of the policy terms or conditions, please seek our advice promptly.

5. Charges. We reserve the right to make charges, in addition to any insurance premiums, for the arranging, amending, renewing and cancelling any policy of insurance. Details of charges made will be declared in all correspondence with you. Currently we charge the following administration fees:

New Policy £15.00

Renewal of a Policy £15.00

Cancellation of a Policy £15.00

Amendment to an existing policy £ NIL

These charges are not refundable in the event of policy cancellation. Administration charges made by insurers / issuing brokers or premium finance companies are also non refundable in the event of policy cancellation.

6. Customer Protection Information. It is our intention to provide you with a high level customer service at all times. If there are occasions when we do not meet your standards please contact Mr Thrasos Nadiotis either verbally or in writing, who will take details of your concerns. We will acknowledge in writing, advising you of who is dealing with your concerns and attempt to address your concerns within five working days. If our investigations take longer, we will provide a full response within twenty working days or explain our position and provide timescales for a full response. If we cannot satisfy your complaint you may be entitled to refer it to the Financial Ombudsman Service.

7. Financial Services Compensation Scheme (FSCS). We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type business and the circumstances of the claim. Insurance advising and arranging is covered for the first £2000 and 90% of the remainder of the claim without any upper limit. Further information about the compensation scheme is available from the FSCS.

8. Cooling Off Period. We will give you enough information and help so you can make an informed decision before you make a final commitment to buy your insurance policy. However you will have 14 days to change your mind and cancel the insurance contract from the date you receive the policy documentation. NB This only applies to retail customers.

9. Renewals. You consent that in the future we shall be providing renewal terms for all contacts concluded. Should you not wish to receive renewal terms please let us know at least one month prior to renewal date.

10. Notice. 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 which 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.

11. Quotations. Unless otherwise agreed any quotation given will remain valid for a period of thirty (30) days from the date of issue of the quotation.

12. Risk Transfer. Any money we receive from you we receive as agents of the insurance provider (insurer) under a Risk Transfer arrangement between ourselves and the insurer. We keep client money in a trust account and any interest from that account will be retained by us for our own use. Whenever insurance is purchased through a wholesale broker, the premium may be passed on by us to the wholesale broker before they pay the insurance provider.

13. Settlement Terms. We will be responsible for issuing invoices for all new and renewal premiums and mid term alterations as soon as practicable after inception or renewal or on receipt of closing documentation from the market. We will remit premiums to Insurers in accordance with the agreed terms of trade. You will be responsible for paying all of our invoices for premiums, duties, fees and tax by the due date, to enable us to make the necessary payments to insurers.

For the avoidance of doubt, we have no obligation to fund any premiums, duties, fees and taxes on your behalf and have no responsibility for any loss which you and / or the insured 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. Any failure to meet the payment date set by us, may in turn delay us making payment to insurers and as a result lead to insurers cancelling or voiding the policy. We will not under any circumstances pay insurers without having first received cleared funds from you.





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