| PREMIUM SETTLEMENT |
| As an appointed Agent of ours, you are responsible for the
payment of premium to us when cover is assumed.
New Agents will, on a daily basis, be required to send
to us each completed proposal form together with a cheque
(‘net’ of commission) in full payment.
Otherwise, where specifically agreed by us, general
retail Travel Insurance policies may be returned to us
on a daily basis and we will invoice you on receipt.
Such invoices must be paid within 15 days whether or
not premium has been settled to you.
In respect of Travel Insurance ‘Scheme’ business,
payment is required by the 10th day of the month, following
the month of certificate issue whether or not premium
has been settled to you.
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| The Agent shall maintain a separate bank account (IBA Account)
in accordance with the guidelines laid down by GISC (or
equivalent regulatory body). |
| The Agent shall maintain Professional Indemnity cover in
accordance with the guidelines laid down by GISC (or equivalent
regulatory body). |
| All Claims are dealt with either in-house by our own experienced
team or by claims handlers appointed by Underwriters.
Claim Forms are available either from our Web site or
directly from the claims handlers nominated on the Certificate
of Insurance.
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| The Agent shall notify us immediately
on becoming aware of any matter arising which has resulted
or could result in a complaint to any regulatory authority
or give rise to proceedings against us or the Underwriters
on the contract giving rise to the complaint. |
| Alterations to these terms of business may be made at any
time and you will be advised by letter from us.
These letters will be sent by 1st Class Post to your
last recorded address and will be deemed to have been
received.
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| If the Agent is registered with GISC
(or equivalent regulatory body e.g. FSA etc.), there is a
duty to inform us immediately if such registration is cancelled
in respect of the Agent or any of its Directors or principals. |
| We have the right to cancel this facility at any time, but
any certificate which is in force at the date of cancellation
shall remain in force until its stated expiry date.
In the event of termination of this facility all books,
papers, supplies and other property provided by us to
the Agent should be returned immediately, at the Agent’s
expense.
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| You shall not transfer the agency to any other person, firm
or company unless specifically agreed by us. |
| Without prejudice to any of the rights or obligations otherwise
specified within these Terms of Business (or subsequent
amendments), the Directors & Partners of Appointed
Agents shall use their best endeavours to ensure that all
acts necessary under the law applicable for the legal and/or
proper handling of any insurance bound or intended to be
bound with us, shall be carried out. |
The Agreement is subject to English law and practice and
to the exclusive jurisdiction of the English Courts.
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