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Terms and Conditions


The capacity in which we act

The information in the table is in relation to the insurances you have asked us to arrange.

We act as your agent in the event that you make a claim unless indicated in the table. For those policies arranged through another part of Paragon Insurance Services Ltd, which will be identified


Your duty of disclosure

Your insurance is based upon the information you disclose to the insurance company. It is your duty to ensure that all information disclosed is complete and accurate. Any facts which may influence the insurers decision to accept a policy and to pay are valid claim are to be fully disclosed.

Any failure to disclose material information may invalidate you insurance and subsequently may lead to part or all of a claim not being paid.


How to cancel

You may have a statutory right to cancel within a certain time frame of up to 14 days (also known as the cooling off period). Please refer to your policy summary or policy document for further details. If you wish to cancel within the 14 day cooling off period, you will receive a pro-rata refund. Please note that we will charge a cancellation fee of 8% of the total annual premium. Please note that our agency fee is none refundable.

Before opting to cancel any policy, we ask that you contact us to discuss the matter. Refunds cannot be issued until we are in receipt of all documents. The policy can be cancelled at any time throughout its duration but you must contact us immediately if you choose to cancel. All documents must be returned to us promptly in order to process any refunds that may be owed to you. The terms of your policy may allow insurers to retain the premium in full or charge short-period premiums in the event of cancellation before the policy expires, this will not be refundable. 

Any other related policies, such as legal protection and breakdown cover will be cancelled within the main policy and will only be refunded if cancellation is within the 14 days of receipt of the documents. However, we may keep and amount that reflects our administrative costs or arranging and cancelling the insurance. 

Should a claim occur during the period of cover after 14 days from inception, then full premiums and charges will become payable. Please note once we have instructions to issue cover, any commission we receive from insurers is earned and not refundable following cancelation of the policy. Refunds of less than £10 will not be issued. Any requests for cancelation should be sent to Paragon Insurance Services, 513 Crown House, North Circular Road, London. NW10 7PN.


Terminating your relationship with us 

Subject to your immediate settlement of any outstanding premiums and fees, you may inform us to terminate acting for you with no imposed penalty. Instructions must be in writing and will take affect from the date of receipt. If for any reason we feel that we cannot continue to provide you with our services, a 7 day notice will be issued.

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 settle any transaction fees and premiums concluded prior to the end of our relationship, subsequently, we will be entitled to retain commission received for conducted these transactions, together with all the fees charged by us for services provided.


Fees and Charges 

We will usually charge a fee for our services (typically when you buy or renew a policy) but you will always be informed of any such charge before you purchase a policy. Our fees are non-remunerable even if you cancel your policy. During the term of the policy we may charge up to £65.00 for issuing duplicate documents and up to £105.00 for changes to your policy.

We will charge a fee of payments made with credit card, at £5.00 for transactions up to and including £500, and 2% of the transactions for amounts above £500. All fees are exclusive of any applicable tax that are levied from the time to time.

In certain circumstances, your insurer may repay part of your insurance premium(s) to us. This can occur where for example the risk covered by your policy is reduced or the policy itself is cancelled. Where the amount of the refunded premium is less than £10.00 (per policy) we will retain such amount, but where a midterm adjustment or cancellation charge is made we will set if off against such charge. This paragraph does not affect any cancellation/refund rights which you may have.


Credit Checks

Insurance companies may perform a credit check to ascertain the most appropriate payment option for you. This credit check will appear on your credit report whether or not you application proceeds. By agreeing to the Terms and conditions, you agree to these uses of you information.


Complaints

Our aim is to provide you with a high level of customer service. However, if you are not satisfied, please contact us in writing to:

Paragon Insurance Services
513 Crown House
North Circular Road
London
NW10 7PN.

Alternatively, you can call us on 02089 639 996 or email info@paragoninsuranceservices.co.uk.

We will acknowledge you complaint within 5 working days. Within 4 weeks of receiving your complaint, we will offer you a final response or a holding response which explains why we are not in a position to resolve the complaint and we will indicate when we will make further contact. This will be no later than 8 weeks from receipt of the complaint.

In the rare occasion where you are not satisfied having heard from us, you are
entitled to refer the matter to the Financial Ombudsman Services, email:
complaint.info@financial-ombbudsman.org.uk or by phone 02078 927 300.

 
Sourcing a suitable policy We act as your agent
We act as agent of the insurance company
Placing the insurance We act as your agent
We act as agent of the insurance company
In the event of a claim We act as your agent
We act as agent of the insurance company
 

Compensation 

How to Claim

Should you need to make a claim, please refer to your policy summary or policy documentation to ascertain you are covered.

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 may lead to claim. If you require assistance, call us on 02089 639 996


Range of Insurers Used

We select personal and commercial insurance from a range of insurers.

However, for some products, we may only deal with a single insurer or select from a limited number of insurers. We will provide you with further information regarding this before we finalise your insurance arrangements.


Ownership Arrangements

Paragon Insurance Services Limited does not own any share capital in any insurer we trade with. There is no conflict of interest with any service provider we use.


Non Payments of Premiums

If the cheque, card or credit agreement is dishonoured or if the Client refuses to pay outstanding monies, we will first try to take full or part settlement via any credit/debit card from the details on our/your files. 

If no alternative method of payment is agreed, cover will be cancelled immediately after a 7 day notice warning. No refund monies will be returned, as the deposit covers the insurers minimum Time on Risk charges (explained in the policy documents), our own fees for the initial placement of business and our general handling and administration costs – see Fees and charges.

Upon failure to recover the full or part payment, we will give 7 days notice of our intention to pass the case to our debt recovery agency.

Our administration charge will be £20 per £100 outstanding, excluding our normal administration charges. Clients must be aware that all fees generated by the debt recovery agency’s actions, will become the Clients liability to pay within any future settlement.


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. This means your insurance is treated as being paid for. We then pass on your payment to you insurer directly.

We may need to transfer your money to another intermediary in some cases. However your money will be protected at all times due to our requirements under the FCA rules. We also reserve the right to retain interest earned on this account.

In some cases, you will need to pay your premiums directly to the insurer. However, any brokering fees will be paid directly to us.


Protecting Your Information

All personal information about you will be treated as private and confidential (even when you are no longer a customer), except where the disclosure is made at your request or with your consent in relation to administering your insurance, and except where law requires us. The FCA may ask us to provide it with access to our customer records in order that it may carry out a review of our activities.

Some or all of the information you supply to us in connection with your insurance proposal may be passed to other insurance companies for underwriting and claims purposes.

Under the Data Protection Act 1998 you have a right of access to see personal information about you that is held in our records, whether electronically or manually. If you have any queries, please write to us at:

Paragon Insurance Services
513 Crown House
North Circular Road
London
NW10 7PN.

Alternatively you can email us at: info@paragoninsuranceservices.co.uk
or phone us on 02089 639 996.