The FCA is the independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide if our services are right for you.
As a business we arrange benefit schemes for organisations and associations. Some of those benefits and services fall within a class of activity known as ‘regulated’. If we are actively involved as a business in the introduction chain, and the product or service involves a regulated insurance policy, then we also have to be regulated.
No. We provide benefits for a wide range of items, most of which are not regulated by the FCA.
When we introduce you to an insurance service or product, it is the product or service provider who controls which insurance company they use. They will be happy to provide you with that information. For some insurance classes they may deal with a wide range of insurers and for others they may deal with only one insurer.
We only introduce. Once we have introduced you, then you need to make up your own mind if that service is the service you want and if any product you consider purchasing is suitable for you and your needs.
We do not provide advice and our introduction should not be seen as a recommendation or endorsement of any product or service on offer.
Our introduction service does include us approving some financial promotions and can include us being involved in setting up the introduction system. We manage some web pages which display benefits and which will provide details on how you can connect to that benefit provider.
For some insurance areas we or the service provider may offer a renewal reminder service where you want to be contacted but your insurance renewal date is not yet due. We will always tell you who will be making contact. Please remember that any renewal reminder will rely on either sending you and e-mail or telephoning you. If you change your contact details or contact cannot be made then you should always keep your own diary date about an up-coming insurance renewal. This service is for new business.
If you have a problem in obtaining the benefit (such as a saving or price promise) that has been offered, then you can contact us and we will assist where we can. We can also provide information on how the benefit provider may be contacted or if a promotion code is required. Please remember that any benefit offered by an insurer will always be subject to their underwriting criteria and in some cases they may decline to provide cover or offer special terms.
There was a change in the law which took place on 6th April 2013.
If you are buying insurance which is connected wholly or mainly or partly to your business, then when applying for insurance you must provide all and every piece of material information to the underwriter. Failure to do that could result in the policy being void and your claim not being paid. Material information is the type of information that a prudent insurer (underwriter) would want to know about the risk you were asking them to insure. For professional indemnity insurance, then being aware of a circumstance that might lead to a claim would be considered very material.
If you are buying insurance which is being purchased wholly or mainly for a purpose that is not connected or related to you trade or business, then the rules have changed. You must take care not to mislead the insurer in any answer you give to questions they ask you when applying for the insurance policy. Misleading or misrepresentation can include a dishonest reply, one that was given recklessly without due consideration, or enquiry to obtain the right answer or misrepresentation was caused by important factors being omitted from your answer. So, when asked a question you must present that insurer will all the information relevant to that question or information that may be relevant to that question.
The questions asked by insurers will also give you other examples of information they think is material. If you have doubts whether something is material then provide the information as it is better to be safe than sorry, or ask the benefit provider. You can ask the insurer or benefit providing broker for assistance if you do not fully understand the question.
Failure to provide all the information required could result in a claim not being paid, only partly paid or the policy being considered void and not in force.
Please take time to read through any policy summary and the policy document to check if the insurance meets all your needs. It is also wise to check what changes in your circumstances need to be advised to the insurer in the future.
Our services are free to members of the organisations and associations we provide our service to.
Parliament Hill Limited, of Britannia House, 21 Station Street, Brighton BN1 4DE are authorised and regulated by the Financial Conduct Authority. FCA Register number is 308448.
Our permitted business is non-investment insurance mediation and this is the only area where we are regulated by the FCA.
You can check this on the FCA Register by visiting the FCA’s website register.fca.org.uk or by contacting the FCA on 0845 606 1234.
If you wish to register a complaint, please contact us:
… in writing Write to the Director at Parliament Hill Limited, Britannia House, 21 Station Street, Brighton BN1 4DE
… by phone Telephone 020 7710 9494
Company registration number: 5016537
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (FOS). The FOS only deal with complaints about regulated activities.
We take any notification of dissatisfaction seriously. Where it is appropriate we will try to resolve the matter by close of the next business day. In some cases we may have to refer you to the benefit provider. Where quick resolution is not appropriate then we will acknowledge your complaint and advise you who will be investigating the complaint and what will happen next. We aim to send out an acknowledgement within three working days.
Once we have investigated the matter we will contact you again with a final response. We aim to do this within 15 working days but it does depend on how much investigation we need to do and we may be reliant on obtaining information from others.
We are covered by the FSCS in respect of our regulated activities. 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, without any upper limit.
Further information about compensation scheme arrangements is available from the FSCS.