Robert Spray Insurance Services Ltd – Terms of Business Agreement – TOB08 October 2018

The following Terms of Business Agreement sets out the basis on which Robert Spray Insurance Services Ltd (0115 9564 888) will provide business services to you as a consumer or commercial client of the firm. Please contact us immediately if there is anything which you do not understand or with which you disagree. We are happy to answer any questions and are willing to explain these terms and the reasons for them. You are deemed to have accepted these terms of business unless you advise us otherwise within 7 days of receipt.

About Us

Robert Spray Insurance Services Ltd of 15-17 Watnall Road, Hucknall, Nottingham, NG15 7LD are authorised and regulated by the Financial Conduct Authority as an insurance intermediary. Our firm reference number is 305582. We are permitted to arrange, advise on, and deal as an agent of insurers and clients and assist in claims handing in respect of non-investment insurance policies. You can check these details online using the Financial Services Register (accessible from or by contacting the Financial Conduct Authority Consumer Helpline on 0800 111 6760. We are authorised by the FCA for consumer credit broking, we use one lender – Close Brothers Premium Finance.

Our Scope of Service

We offer a wide range of insurance products and have access to leading insurers in the market place. When we arrange your insurance we will provide you with a personal recommendation to buy a policy on the basis of a fair and personal analysis of the market. With the exception of certain products (motor legal expenses, home legal expenses, home emergency, GAP insurance and guaranteed hire car) and for these we will provide you with a personal recommendation to buy a policy not on the basis of a fair and personal analysis of the market. We act on your behalf in arranging your insurance with the exception of motor insurance arranged with Markerstudy Insurance Company Limited where we act on their behalf.

Your Duty of Disclosure


You must take reasonable care not to make a misrepresentation to the insurer. This means that all the answers you give and statements you make as part of your insurance application, including at renewal and when amending your policy should be honest and accurate. If you deliberately or carelessly misinform the insurers, this could mean your insurance may be invalidated; the insurer may refuse to pay part or all of a claim or reduce the settlement amount, depending on the circumstances.

Commercial Customers

Where we arrange insurance wholly or mainly for purposes related to your trade, business or profession, you have a duty under the insurance Act 2015 to make a fair presentation of the risk. This duty applies throughout the life of your policy; at application, when amending and when you renew your insurance. Fair presentation of any facts which may influence the insurer’s decision to accept the policy and/or what terms are applied. This means that you must disclose every material circumstance which you and/or your senior manager and/or anyone responsible for arranging your insurance know or ought to know. Alternatively, you must disclose sufficient information which would put the insurer on notice that it needs to make further enquiries for the purpose of revealing those material circumstances. You are expected to carry out a reasonable search in order to make a fair presentation of the risk and will be deemed to know what should reasonably have been revealed by the search. If you fail to make a fair presentation your insurance could be invalidated, the insurer may refuse to pay your claim or reduce the settlement amount, depending on the circumstances.

How to Cancel

Please contact us immediately if you wish to cancel any insurance policy we have arranged for you. You may have a statutory right to cancel a policy you take out through us within a short period, please refer to your insurance product information document or your policy document for further details. If you cancel within the statutory cancellation period (where this applies) you will receive a pro rata refund of premium from the insurer, insurers are also entitled to make an administrative charge, if you wish to cancel outside the statutory cancellation period (where this applies) you may not receive a pro rata refund of the premium. In addition to the above we may also charge an amount that reflect the administrative cost or arranging and cancelling the policy, details of these amounts are given in our fees and charges.

Protecting you Information

We take your privacy extremely seriously and we will only use your personal details in line with our Privacy Notice. Please read our Privacy Notice carefully or alternatively if you would prefer a copy in writing please contact us and contact us immediately if you have any queries. Where necessary, for example where we would like to use your data for marketing purposes, we shall ask for your specific consent to do so. Your personal information includes all of the details you have given us to process your insurance policy (we will not ask for more information than is necessary). We may share your data with Third Parties for the provision and ongoing performance of your insurance policy. Your data may be transferred outside the UK, we will not sell, rent or trade your data under any circumstances. All of the personal information you supply to us will be handled strictly in accordance with the applicable Data Protection regulations and legislation.

How to Claim

Please refer to your insurance product information document or your policy document if you need to notify a claim; you should contact us or the insurer direct as soon as you become aware of any incident which could give rise to a claim. If in doubt about whom you should contact, or if you require our assistance in relation to a claim or potential claim please contact us on 0115 9564 888.

Fees and Charges

We may charge a fee of up to £25.00 to cover our administration if you instruct us to carry out a mid-term adjustment or if any other work on your behalf is carried out such as default, failure to pay or recorded delivery letters – this charge may be made each and every time this occurs. In the event of cancellation a charge of up to £50.00 or 10% of the total premium may be made. Charges for arranging commercial products will be declared to you in advance of them becoming due. If you pay your premium by instalments we shall inform you of any additional fees, charges or interest as part of your credit agreement with Close Brothers Premium Finance or your insurance company.

Our Earnings

In return for placing business with insurers and/or underwriters and/or other product providers we will receive a commission from them which is a percentage of the annual premium that you are charged. You are entitled, at any time, to request information regarding any commission which we may have received as a result of placing your insurance business and/or arranging premium finance. Please be assured that at no time will the way in which we are remunerated conflict with our responsibilities to meet you needs and treat you fairly.

Protecting your Money

Prior to your premium being forwarded to the insurer, and for your protection, we either hold your money as an agent of the insurer with which we arranged your insurance (in which case your policy is treated as being paid for) or if we are not acting as an agent of the insurer when we receive your premium, we shall hold it as client money in trust for you within a client bank account with an approved bank. We may transfer your premiums to the insurer through another party, such as a broker or underwriting agent for the purposes of effecting a transaction. Our client bank account may contain other client’s money and money we hold as an agent of insurers. In line with strict FCA rules, our client bank account is rigorously monitored in order to segregate and safeguard client money. We reserve the right to retain interest earned on our client bank accounts. We are permitted to advance credit to other customers from monies we hold in a non statuary trust client bank account. A copy of the trust deed under which our non statutory trust has been established is available upon request. You must notify us if you do not wish for your money to be handled in this way. We may transfer your premiums to the insurer through another party such as a broker or underwriting agent for the purposes of affecting a transaction. By accepting these terms of business agreement, you are giving your consent for us to operate in this way.


It is our intention to provide a high level of service at all times, however if you have any reason to make a complaint about our service you should contact Craig Spray Managing Director at the above address or call 0115 9564 888. You may be entitled to refer the matter subsequently to the Financial Ombudsman Service (FOS). You can contact the FOS by telephone on 0800 023 4567 and further information is available at If you do decide to refer any matter to the FOS your legal rights will not be affected. We will provide a summary of our complaints handling procedures should you make a complaint which we cannot resolve informally and at any other time, upon your request.

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. 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, also without any upper limit. This scheme does not apply to consumer credit. Further information about compensation scheme arrangements is available form the FSCS on 0800 6781 100 or 020 7741 4100 or by visiting

Money Laundering/Proceeds of Crime

We are obliged to report to the National Crime Agency any suspicion of money laundering and/or terrorist financing activity and we are prohibited from disclosing any such report.

Adequacy of Insurance Values

It is the responsibility of the insured to ensure that all sums insured and policy limits are adequate. Whilst we seek to assist in establishing and maintaining insured values and indemnity limits we cannot accept responsibility for their accuracy. It is strongly recommended that the appropriate professional (e.g. Surveyor/Accountant) be consulted to ensure that the sums insured and limit under the policy are suitable.

Conflicts of Interest

As insurance brokers we generally act as your agent in advising you, arranging your insurance and assisting you in the event of a claim. In certain circumstances we may act for and owe duties of care to insurers and/or other parties. Where we become aware of any actual or potential conflicts of interest, we will inform you of the situation, the options available to you and obtain your consent before we proceed.

Insurer Security

The insurers we use are regulated and are required to have adequate capital resources. However, we cannot guarantee the solvency of any insurer we place business with. An insolvent insurer may be unable to pay claims or may be unable to pay them in full and you may have to pay a further premium to pay for alternative insurance cover.


You or we may terminate authority to act in connection with your insurance agreements at any time. Notice of termination must be given in writing and will be without prejudice to the completion of any transactions already commenced. Any business currently in progress will be completed unless we receive instructions to the contrary. Any premiums or fees outstanding will become payable immediately. In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days notice.

Law and Jurisdiction

These terms of business shall be governed by and construed in accordance with English Law and shall be subject to the exclusive jurisdiction of the courts of England and Wales.

Robert Spray Insurance Services Ltd