Commercial Terms of Business

Tapwell Pub Insurance is a trading name of Grow Money Group Limited. Grow Money Group Limited is an Appointed Representative of Movo Partnership Ltd, which is authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 823503. These details can be checked on the Financial Services Register by visiting the FCA's website at https://register.fca.org.uk/ or by contacting the FCA on 0300 500 8082.

We are permitted to arrange, advise on, deal as an agent of insurers, assist in claims handling, help with ongoing changes, introduce to an insurer or finance provider(s) and arrange lending facilities, collect debt and administer debts in respect of general insurance policies on behalf of our clients.

We have access to leading insurers and often we select your insurance product from a wide range of insurers; however there are times when we use a select panel of insurers or finance providers. Please ask us if you would like a list of these insurers. At our discretion, we offer clients the option to pay by instalments.

We reserve the right, at our discretion, to make an administration charge, a table of which is available upon request as these can differ. We will provide you a breakdown of any fee to be charged at quotation. Fees may be applicable in situations including, but not limited to:

• Arranging new policies
• Mid-term adjustments
• Renewals
• Replacement or duplicate certificates or cover notes

Mid-term cancellations and other refunds are refunded net of commission. In addition, we may charge an administration fee for any mid-term adjustments.

We receive commissions from insurers when we place your insurance policies, and this commission rate can vary. Occasionally we may arrange a policy on which we earn no commission and, in these cases, we will advise you of the arrangement fee before you take the policy out. These fees will be paid to us upon acceptance and inception of the policy by the insurer; we will confirm the amount of the fee as part of your quotation. We may also make additional charges specific to the arrangement and servicing of certain policies, but these will always be advised to you in advance.

These fees may be subject to change and where this is the case you will always be advised of the actual fee in writing. Please ask us if you would like further information.

We will exercise reasonable skill and care in the performance of all our services for clients, but we cannot be held responsible for advice, recommendations or actions that are based upon incorrect or inadequate disclosure of material information by clients or their agents. The liability of Grow Money Group Limited, howsoever arising, shall not exceed in the aggregate the sum of £2,000,000. These limitations of liability shall not apply to liability for personal injury or death caused by our negligence, for fraud or fraudulent misrepresentation, or in circumstances which cannot be excluded by law.

Under the commercial duty of disclosure, you must, at all times, volunteer and disclose all material information that is known by you or ought to be known by you. This applies before your policy is placed, at renewal, when varying or extending the policy, and during the policy period if your policy contains a clause stating that any change in circumstances must be advised to your insurer.

When providing information or completing a proposal form or otherwise confirming any information to us, you should take care to ensure that the details provided are complete and accurate. Your duty of disclosure is not confined to answering specific questions asked by us or your insurers; all material circumstances should be disclosed to us whether or not we or your insurer has asked for the information.

If you are unsure whether a fact or circumstance should be disclosed, or whether the duty of disclosure continues throughout the period of your policy, you should disclose the information anyway, as failure to do so may lead your insurer to reduce its claim payment, apply additional terms or even avoid your policy.

If any of the information provided by you is not complete and accurate:

• Your insurer may cancel your policy and treat it as if it never existed;
• Your insurer may refuse to pay any claim;
• Your insurer may not pay any claim in full;
• Your insurer may revise the premium and/or change the compulsory excess; or
• The extent of the cover may be affected.

You should keep a record (including copies of letters) of all information provided for future reference.

Special or unusual facts relating to the risk, any particular concerns which led you to seek insurance cover, and anything which would generally be understood as being something that should be disclosed for the type of risk in question, must be disclosed to us.

We will write to you in good time before your renewal date, offering your terms; in situations where we are not inviting renewal, we will tell you. Renewal of the contract is based on the information you supplied when we arranged your current contract along with any amendments you have made during the period of cover. It is important that you tell us about any changes to your requirements.

Your policy document will provide you with specific information on your full rights to cancel your insurance. A commercial policy which lasts for more than one calendar month offers you the facility to cancel cover (providing there have been no claims) within 14 days from the policy start date or the date when you receive the full policy documentation from us or your insurers, whichever occurs later. If you are entitled to a refund this will be advised by the insurer, and you may be charged an administration fee.

Where you cancel your insurance outside the 14-day cancellation period, we reserve the right to charge for our time in providing you with advice and for the administration costs involved. This results in us retaining our original commission and fees.

For some insurance contracts, insurers will not provide refunds for mid-term cancellation of cover. We will tell you if this affects you.

You must provide the premium due in cleared funds in accordance with the amounts and dates specified in our payment options schedule. Failure to meet the payment date may lead to insurers cancelling your policy.

Please refer to our payment options schedule for full details on how to make a payment.

Please note that cover will cease if you fail to keep up payments under a credit agreement.

Many insurers provide a 24-hour helpline in respect of claims. Please refer to your policy documents for contact details.

Please ensure that you report all incidents that could give rise to a claim as soon as you become aware of them, either by contacting your insurer or Tapwell.

If you receive correspondence from a third party about your claim, please pass it to us or your insurer immediately and unanswered.

If you require any assistance with a claim or incident, please contact us on our broker line 0330 50 2088.

Grow Money Group Limited is not authorised to handle client monies; all client money is handled by Movo Partnership Ltd. Details of Movo Partnership Ltd are available on the FCA Register. Movo Partnership Ltd hold all client money in a trust account, the purpose of which is to protect you in the event of financial failure since, in such circumstances, general creditors would not be able to make claims on client money.

If Movo Partnership Ltd hold money on a client's behalf, it will be held in a trust fund that is separate from Grow Money Group Limited's own cash assets. Where Movo Partnership Ltd do not have risk transfer agreements in place with insurers, the client money they hold will still be protected within the non-statutory trust.

Due to funds being in a separate trust fund, if Grow Money Group Limited were ever unable to pay their debts, this should stop any claims being made by creditors as it does not form part of their own cash assets. Please ensure you make payment to the details on the invoice and not to any other account.

The trust arrangement Movo Partnership Ltd use for client money is known as a non-statutory trust. Movo Partnership Ltd may use premiums and claims monies they receive to fund other clients' premiums and claims — for example, they may pay a premium on to an insurer before they have received it from the client if they believe it is in the best interests of that client. When Movo Partnership Ltd hold client money on trust for you, this gives rise to fiduciary duties upon them that will not be discharged until the client money is deemed to have reached the insurer or product provider.

Without affecting Movo Partnership Ltd's fiduciary duties to you, in some cases they may pass client money to another intermediary, including ones outside of the United Kingdom where different legal and regulatory conditions apply and where money may be treated differently in the event of an insolvency.

It is our intention to provide you with a high level of customer service at all times. If there is an occasion when we do not meet these standards and you wish to register a complaint, please write to: The Complaints Manager, Movo Partnership Ltd, Movo House, 33 Green Lane, Chislehurst, BR7 6AG, or telephone 0330 038 8300, or email complaints@movoinsurance.com.

We will acknowledge your complaint promptly and endeavour to resolve it as quickly as possible.

If we cannot resolve your complaint to your satisfaction, you may be able to refer it to the Financial Ombudsman Service (FOS). The FOS offers an independent service for resolving disputes. You can contact the FOS by calling 0800 023 4567 or 0300 123 9123, writing to Exchange Tower, London E14 9SR, or emailing complaint.info@financial-ombudsman.org.uk.

We do not guarantee the solvency of any insurer we place business with. We are covered by the Financial Services Compensation Scheme (FSCS) for insurance mediation only; this does not extend to consumer credit broking. The FSCS is the UK's compensation fund of last resort for clients of authorised financial services firms. You may be entitled to compensation from the FSCS if the insurer cannot meet their obligations. This depends on the type of business and circumstances of the claim.

Insurance advising and arranging is covered for 90% of the claim with no upper limit, although compulsory insurance is protected in full. Further details about the FSCS can be found at www.fscs.org.uk.

Our company ethics and culture towards customer service means that we never deliberately put ourselves in a position where our interests or our duty to another party prevents us from discharging our duty to you. Where we become aware of any actual or potential conflict of interest we will tell you about the situation, the options available to you, and we will ask for your consent to proceed.

The range of service delivered to you by our trained, professional staff depends upon the particular risks you face and therefore your demands and needs for insurance cover. We can only know and act upon the information you provide, so it is always essential that you fully disclose the risks you face.

Initially and at renewal we will: confirm the purpose of making contact with you; answer your queries and provide insurance advice as requested; collate and check information required to review your risk and insurance demands and needs; carry out a market search; identify insurance product features which match your demands and needs; review relevant insurers for their pricing policy, policy terms, service standards and claims service; collate underwriting information and submit to insurers on your behalf; and monitor receipt of insurers' quotations and negotiate price, terms and conditions as necessary.

We will confirm our personal recommendation as to how you should proceed, including: the price and any significant or unusual conditions or exclusions of the insurance cover; the width of our search of the market and whether we are under any contractual obligation to an insurer; the principal we are acting for in searching the market; if we have used another intermediary to place your cover, the principal we act for when settling a claim; and any fee or charges due in the period of the policy in addition to the insurance premium.

On a day-to-day basis we will carry out regular analysis of the insurance market to provide professional advice, answer queries on the policy cover, insurance matters or proposed changes to your risk, and confirm mid-term adjustments to your insurer under your instruction. For claims, we will report claims on your behalf or ensure you have contact details for speedy reporting of a claim, liaise with your insurer's Loss Adjuster as necessary, and discuss and seek early resolution on any current or post-loss concerns you raise with your insurer.

For accounting we will arrange premium finance where available if requested, issue an invoice detailing the payment we require, and reconcile your payment, pay your insurer or obtain return premiums for you where appropriate.

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 or premium finance facility.