Terms of Business Agreement

About Us
Insurance Protector is a trading style of IPG Retail Limited, Quay House, 1st Floor, The Waterfront, Level Street, Brierley Hill. DY5 1XD. Company No: 08365919. IPG Retail Limited are authorised and regulated by the Financial Conduct Authority (FCA). Our FCA number is 595853.  You can check these details by visiting the FCA website https://www.fca.org.uk/register or by contacting the FCA on 0800 111 6768 (Freephone) or 0300 500 8082 from the UK.
Whose Products do we offer?
We offer a range of insurance products under the terms of binding authority agreements from a limited range of insurers.  A list of insurers can be provided upon request.
Which service will we provide you?
In choosing a product from IPG Retail you will not be offered any personal recommendation.
What will you have to pay for our services?
We receive a commission (which can be advised upon request) from our insurers for our services as well as charging an administration fee. In addition commission payments are received for credit broking and arranging Premium Finance facilities.
Fees and Charges
If you instruct us to carry out a mid-term adjustment or cancellation on your behalf we will charge up to £30.00 per adjustment. Duplicate documents will be charged at £20.00.   No refund of premium will be given if the amount of refund is under £10.00.
Protecting your information
All personal information about you will be treated as private and confidential (even when you are no longer a  customer),  except  where  the  disclosure  is  made  at your  request  or  with  your consent  in  relation  to administering  your  insurance,  and  except  where  law requires  us.  The  FCA  may  ask  us  to  provide  it  with access  to  our  customer  records  in  order  that  it  may carry  out  a review  of our activities. Under the Data Protection Act 1998 you have a right of access to see personal information about you that is held in our records, whether electronically or manually. If you have any queries, please write to The Managing Director at the above address.
Protecting your money
Prior to your premium being forwarded to the insurer, and for your protection, we hold it in a client bank account on trust for you. Your  money  will  be  protected  at all times  because  of  the requirements  of  the  FCA  rules. We may need to transfer your money to another intermediary in some cases.  We also reserve the right to retain interest earned on this account.  By accepting these Terms of Insurance Business you are giving your consent for us to operate in this way.
Payment Options
We will provide you with full details of the payment options available to you when we provide you with your insurance premium. If you choose to enter in a finance arrangement, this will be subject to interest charges that we will confirm to you when providing the full details.  Importantly, the arrangement you will enter into will be with the finance company not us.  It is an entirely separate contract irrespective of the insurance contract.  In the event of your failure to meet with the contractual obligations regarding payment the finance provider could approach the insurer to seek a termination of the insurance contract to recoup their outstanding finance arrears. You will be liable to pay their costs and charges if you do not keep up your repayments and cover is cancelled under your policy. This is because the agreement is between you, the policyholder and the finance company direct, not us or the insurer. Please note we use Premium Credit for premium finance facilities. Should you fail to keep up payments on an instalment agreement or on premium finance, your policy cover will cease.
Compensation arrangements
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.  Most Insurance contracts are covered for 90% of the claim, without any upper limit.  Compulsory insurances (for example, motor insurance and employers’ liability insurance), are covered for 100% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS on 020 7892 7300 or by visiting http://www.fscs.org.uk/
Your Duty of Disclosure
Your insurance is based upon the information provided to the insurance company and you must ensure that all such  information  is  complete  and  accurate,  and  that any  facts  that  may  influence  the  insurer’s  decision  to accept and pay a  valid  claim are  disclosed.  Failure  to disclose  material  information  may  invalidate  your insurance and  could mean that  part,  or  all,  of  a  claim may not be paid.