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Terms of Business Agreement

Accepting our terms of business:
By asking us to quote for, arrange or handle your insurances, you are providing your informed agreement to these Terms of Business. We draw your particular attention to: The section headed ‘Use of personal data’ and specifically the paragraph explaining how ‘sensitive personal data’ will be used; and the section headed ‘Handling Client Money’, which explains our terms for handling client money in a Non-Statutory Trust Account.
If you are unsure about any aspect of our Terms of Business or have any questions regarding our relationship with you, please contact us.

About Us:
Select Brokers Limited trading as Select Insurance Brokers, 501 Lisburn Enterprise Centre, Ballinderry Road, Lisburn Co Antrim, BT28 2BP are authorised and regulated by the Financial Conduct Authority (FCA). Our FCA number is 762875, our permitted business is advising, arranging, dealing as agent and assisting in the administration and performance of general insurance contracts You can check these details by visiting the FCA website or by contacting the FCA on 0800 111 6768 (Freephone) or 0300 500 8082 from the UK.

Our Service:
In arranging insurance for our customers we act as an independent intermediary and act on your behalf when arranging your insurance however we may sometimes act as an agent of the insurer. We will confirm the capacity in which we will act for you before undertaking any relevant transactions on your behalf. 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 wide range of general insurance products and have access to a wide range of insurers with whom we place insurance. Details of insurers will be provided to you when your individual requirements have been discussed.

Fees and Charges:
We normally receive commission from insurers or product providers. On request, we will be pleased to provide information about any commission received by us in the handling of your insurances. We also charge you for handling your insurances as follows:
Policy Administration Charges/fees
• Consumer New Business Fee £20.00 inclusive of insurance premium tax
• Consumer Renewal Fee £20.00 inclusive of insurance premium tax
• Commercial New Business fee 5% of the Insurers premium including IPT/Vat subject to a minimum of £25
• Commercial Renewal fee 5% of the Insurers premium including IPT/Vat subject to a minimum of £25
• Mid-term adjustments £20
• Replacement Certificate £10.00
• Credit Card Payments 3% of Transaction Amount
• Dishonoured Cheques £10.00
• Policy Cancellation £30

You will receive a quotation which will tell you the total price to be paid, and which identifies any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded.

Payment Options:
We will normally accept payment by cheque, cash or debit/credit card but 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. Should you fail to keep up payments on an instalment agreement or on premium finance, your policy cover will cease.

Handling money:
Our financial arrangements with most insurance companies are on a ‘Risk Transfer’ basis. This means that we act as agents of the insurer in collecting premiums and handling refunds due to clients. In these circumstances such monies are deemed to be held by the insurer(s) with which your insurance is arranged. However, if Risk Transfer does not apply, such monies will be held by us in a Statutory Trust account set up in accordance with FCA rules. Interest earned on monies held in such a Statutory Trust account will be retained by us.

Credit Checks:
We and other firms involved in arranging your insurance (insurers, other intermediaries or premium finance companies) may use public and personal data from a variety of sources including credit reference agencies and other organisations. The information is used to help tailor a price, to ascertain the most appropriate payment options for you and to help prevent fraud. Any credit reference search will appear on your credit report whether or not your application proceeds. If you have any questions about this or any other matter, please do not hesitate to contact us.

Complaints and Compensation:
We aim to provide you with a high level of customer service at all times, but if you are not satisfied, please contact us:
In writing to Select Brokers Limited, 501 Lisburn Enterprise Centre, Ballinderry Road, Lisburn Co Antrim, BT28 2BP
By phone... Telephone 02892629603

If your complaint is not resolved to your satisfaction or if you are unhappy with the way we handled it, you may be eligible to refer the matter to the Financial Ombudsman Service if at the time of complaint you are a sole trader, small company or partnership with an annual turnover of less than £1m; or from 01.11.09, a firm with fewer than ten employees and an annual turnover / balance not exceeding £2m.
We are covered by the Financial Services Compensation Scheme (FSCS). 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 from 01.01.10 for 90% of the claim without any upper limit. For compulsory classes of insurance (such as Third Party Motor or Employers Liability), 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 on 020 7892 7300 or

Cancellation of Insurances:
You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance must be returned to us or to the insurer concerned.
The terms of your policy may allow insurers to retain the premium in full or to charge short-period premiums in the event of cancellation before the policy expires.

Ending your relationship with us:
Subject to your immediate settlement of any outstanding premiums and fees, you may instruct us to stop acting for you and we will not impose a penalty.
Your instructions must be given in writing and will take effect from the date of receipt. In circumstances where we feel we cannot continue providing services to you, we will give you a minimum of 7 days notice. Unless otherwise agreed in writing, if our relationship ends, any transactions previously initiated will be completed according to these Terms of Business. You will be liable to pay for any transactions concluded prior to the end of our relationship and we will be entitled to retain commission received for conducting these transactions, together with all fees charged by us for services provided.

Your responsibilities:
You are responsible for providing the complete and accurate information which insurers require in connection with any proposal for insurance cover. This is particularly important before taking out a policy and at renewal, but it also applies throughout the life of a policy. If you fail to disclose information, or misrepresent any fact which may influence the insurer’s decision to accept the risk or the terms offered, this could invalidate the policy and mean that claims may not be paid.

You must check all details on any proposal form or Statement of Facts and pay particular attention to any declaration you may be asked to sign. It is important that you read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply. Particular attention must be paid to any warranties and conditions as failure to comply with them could invalidate your policy.
You must inform us immediately of any changes in circumstances which may affect the services provided by us or the cover provided by your policy.
If you are unsure about any matter, please contact us for guidance.

Use of personal data:
We will process any personal information we obtain in the course of providing our services to you in accordance with the Data Protection Act 1998. In administering your insurances it will be necessary for us to pass such information to insurers and other product or service providers
which may also provide us with business and compliance support.
We may also disclose details to relevant parties, as necessary, to comply with regulatory or legal requirements. We may contact you or pass your details to other companies associated with us in order to promote products or services which may be of interest to you. We will not otherwise use or disclose the personal information we hold without your consent.
Some of the details you may be asked to give us, such as information about offences or medical conditions, are defined by the Act as sensitive personal data. By giving us such information you signify your consent to its being processed by us in arranging and administering your insurances.

Conflict of Interest:
Occasions can arise where we or one of our associated companies, clients or product providers may have a potential conflict of interest with business being transacted for you. If this happens, and we become aware that a potential conflict exists, we will write to you and obtain your consent before we carry out your instructions and we will detail the steps we will take to ensure fair treatment.

Claims Handling Arrangements:
You should take note of the required procedures in the event of a claim, which will be explained in the policy documentation. Generally, insurers require immediate notification of a claim or circumstances which might lead to a claim. We will employ due care and skill if we act on your behalf in respect of a claim. If we act on behalf of an insurer in negotiating and settling claims we will inform you that we will be acting on behalf of the insurer, not yourselves, before your insurance arrangements are concluded and again at the point of claim.

Contact Us

19a Church Square,
Banbridge, BT32 4AP
028 4065 8424


Select Brokers Ltd trading as Select Insurance Brokers are authorised and regulated by the Financial Conduct Authority. We are entered in the FCA's register under reference 762875 
Company Registration No NI640640

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