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Stuart Alexander Ltd is an independent insurance broker.
Stuart Alexander Ltd of Fountain House, 130 Fenchurch Street, London EC3M 5DJ is authorised and regulated by the Financial Services Authority (FSA).
Stuart Alexander Limited FSA register number is 304279. You can check this on the FSA's Register by visiting the FSA's website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.
The Financial Services Authority (FSA) is the independent body that regulates financial services. We place general insurance business with a range of insurers, underwriters, agents and sometimes other intermediaries.
We are members of the British Insurance Brokers Association (BIBA).
We offer a wide range of general insurance products and risk management services to both business and individuals.
Our service includes:
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Advice and recommendations on risk exposure and insurance needs |
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Arranging cover to meet requirements |
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Help with ongoing changes |
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Assistance on claims |
We offer our service usually from a range of insurers but for specific risks this may be a limited number of insurers or even a single insurer. In the event we use a limited number of insurers or only one insurer we would advise the customer accordingly prior to conclusion of the contract.
For certain types of insurance we have the authority to issue policy documentation and/or handle claims on behalf of the insurers. Where we handle claims on behalf of the insurer we will advise you on notification of a claim.
More information about our products and services is available in our Corporate Brochure, a copy of which we will be pleased to send you on request. Alternatively you can visit our web site at www.stuartalexander.co.uk or telephone your usual point of contact at Stuart Alexander.
We regularly check the financial strength of the insurers with whom we place business by reference to Standard & Poor's published insurer ratings. It should however be noted that the claims-paying ability of even the strongest insurers can be affected by adverse business conditions. We cannot therefore guarantee the solvency of any insurer or underwriter.
You are responsible on an ongoing basis for providing us with all material facts relating to the insurance covers we arrange on your behalf. Material facts are those that would influence an insurer when they were deciding whether to accept the risk, and the terms and conditions that should apply. Failure to provide full and accurate information may mean that your cover is invalid. If you are in any doubt as to what facts are considered to be material then you should disclose them to us.
We are remunerated for arranging your insurance by the insurer and will disclose the amount, if asked. Unless we state in our documentation, or agree separately with you, no fees or service charges are payable in addition to your insurance premiums. However, we do reserve the right to make an administration charge of no more than £25 for issuing the following documentation:
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Replacement policies or certificates in the event of the loss or misappropriation of the original paperwork |
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Copy policies or certificates requested by other parties, such as solicitors or banks |
In the event of a policy being cancelled mid term, and not replaced by another policy, we may deduct our commission from any premium rebated by the insurers to cover administration cost.
We may also receive benefit from:
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Earnings which we may receive from certain markets due to the underwriting performance of our account with them |
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Providers of premium financing facilities where, with your agreement, we have made such arrangements on your behalf. |
Client money is money of any currency that we receive and hold in the course of carrying out insurance mediation on behalf of clients.
For certain insurers our agency agreement with them allows us to hold the premiums you pay, as agent of the insurer but, where an insurer does not allow us to act as agent we will hold your premiums/refunds of premium as client money in a statutory trust account in accordance with the FSA client assets sourcebook.
Holding your premiums in a statutory trust account means we will not use your money to pay another clients premium to insurers.
In relation to retail customers, it is deemed we have your consent that any interest or exchange gain earned on client money we hold, will be retained by us.
We may transfer client money to another broker for the purpose of effecting the transaction where we have used another broker to place the insurance on your behalf.
We are responsible for issuing invoices detailing the premium, taxes and fees (if applicable) for all new and renewals and mid term alterations.
You are responsible for paying promptly all invoices to enable us to pay your insurer in respect of your insurances within the credit terms imposed upon us by insurers. Please note that we have no obligation to fund any premium, taxes or fees (if applicable) on your behalf and we have no responsibility for any loss you may suffer as a result of insurers cancelling the insurance or taking any other prejudicial steps as a result of late payment where it is substantially attributable to you.
We normally accept payments by cheque. It may however be possible to spread payments through insurers’ instalments schemes or the credit facility arranged with a specialist premium finance provider – Stuart Alexander Premium Finance Ltd.
Personal clients may also be able to pay by credit card.
We will give full information about premium payment options when we provide quotations.
All information provided by our clients is treated as confidential and only disclosed in the normal course of negotiating arranging and administering your insurance.
With a few exceptions, for example information requested by a court, a regulatory body, or information which is already in the public domain, we will not release information to any other party without your consent. Stuart Alexander Ltd is registered under the Data Protection Act 1998.
We will normally deal with request to increase or amend your insurance cover on the day your instructions are received, or the next working day if a weekend or public holiday. Sometimes changes cannot be processed without obtaining additional information. If additional information is required we will contact you as quickly as possible.
We will confirm changes to your policy, once agreed in writing. We will also advise you of any extra premiums you must pay or premiums we must return to you. Please note instructions sent by post, electronic mail or fax are not deemed to be received until they reach the relevant personnel in our offices; we cannot accept responsibility for failures in the postal, electronic or telecommunications systems.
Our aim is to produce documentation and correspondence in a clear and understandable format. In the event of any uncertainty we would ask you to let us know immediately. Our staff are always happy to clarify the cover provided.
You should check all policy documentation issued by insurers to ensure that the details are correct and the cover provided meets with your requirements. Any errors should be notified to us immediately. We may keep certain documents such as insurance or certificates, while we are awaiting full payment of premium, fees or administration charges, or if you ask us to do so. In these circumstances we will ensure that you receive full details of your insurance cover and provide you with any documents, which are required by law.
If we take over the servicing of insurance policies which were originally arranged through another insurance broker or intermediary we do not accept liability for any claim arising our of the advice given by that broker or intermediary, nor for any errors omissions or gaps in your current insurance protection.
We would ask you to contact us without delay should any aspect of a policy which has been transferred to us cause you concern or if you need an immediate review.
Otherwise we will endeavour to review all transferred policies as they fall due for renewal.
You can make a claim under any policy we arrange on your behalf by contacting our claims department in London. Alternatively you can telephone your insurers if they provide a claims help line. Details of any such help lines will be included in your policy documentation. You will be advised if you need to complete a claim form or produce documentation to support your claim.
It is essential that any claim or incident which may give rise to a claim is reported to us, or your insurers as quickly as possible. In certain circumstances late notification may result in your claim being rejected.
If the claim involves damage to your property, Please do not:
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Dispose of damaged items and/or |
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Authorise repair work (except in an emergency or to prevent further damage) until we, or your insurers advise that you can. |
If your claim involves damage to third party property or injury to persons please pass copies of all correspondence, including solicitors' letters, to us immediately and unanswered. Any attempt to negotiate or respond to the incident without prior reference to us, or your insurers might prejudice you cover.
We recognise the importance of service and set ourselves high standards. Should there be an occasion when we do not meet your expectations please contact the Compliance Manager, Stuart Alexander Ltd Fountain House, 130 Fenchurch Street, London, EC3M 5DJ, telephone number 020 7338 0111, and provide details of your complaint.
Your complaint will be acknowledged within 5 working days of receipt. You will also be advised of the name of the person dealing with your complaint and when you can expect to receive a response. We will normally be able to respond in writing within 4 weeks but sometimes the time-scale can be longer if the complaint is complicated or information is required from a third party. We will inform you within 4 weeks if this is the case and, provide you with the reasons why.
Should we be unable to satisfy your complaint or resolve within 8 weeks of receipt you may be entitled to refer your complaint to the Financial Ombudsman Service (FOS).
If a frivolous or vexatious complaint is made to the FOS we will seek to reclaim any costs and expenses which we have reasonably incurred as a result of defending such complaint.
For general insurance products you have a right to cancel a policy within 14 days of conclusion of the contract or receipt of the policy terms and conditions whichever is the later. If cancellation notice is received in writing the date of cancellation will be taken as the date of despatch else it will be taken as the date of receipt.
Please refer to the policy wording for full details on how to cancel and what you may have to pay.
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 will depend on the type of business and the circumstances of the claim.
Further information about the compensation scheme arrangements is available from the FSCS.
This Terms of Business agreement sets out the terms of our relationship with you and is governed by and construed in accordance with English Law and any dispute arising under it shall be subject to the exclusive jurisdiction of the English Courts.
Unless otherwise agreed between us in writing no term of this agreement is enforceable under the Contracts (Rights of Third parties) Act 1999.
For the avoidance of doubt, the limit of the Company’s liability will be limited to 1,000,000 in any one circumstance.
Sporting Insurance Services is a trading name of Stuart Alexander Ltd which is an independent insurance intermediary ultimately controlled by AXA UK plc.
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