Important

Information and Consumer Terms

of Business
Contents
ImportantInformation......................................................................................................................................................1
1

Whoareweregulatedby?................................................................................................................................1

ArewecoveredbytheFinancialServicesCompensationScheme(FSCS)?...................................................1

Complaints........................................................................................................................................................1

Ourservices.......................................................................................................................................................1

Chargeswemakeforourservices....................................................................................................................2

TermsofBusiness.............................................................................................................................................................3
1

TermsofBusiness(Terms).............................................................................................................................3

Yourdutyinrelationtothequestionsasked....................................................................................................3

CancellationRightsandMidTermAdjustments..............................................................................................3

Ourrighttosetoffmoniesyouoweus............................................................................................................3

Informationonourremuneration....................................................................................................................4

InsurerSolvency................................................................................................................................................4

Incidents,PotentialClaimsandhowtomakeaClaim......................................................................................4

8. Limitation/ExclusionofLiability........................................................................................................................4
9

TermsofPayment.............................................................................................................................................5

10

RenewalofPolicies.......................................................................................................................................5

11

Howweholdyourmoney.............................................................................................................................5

12

ConfidentialityandDataProtection.............................................................................................................6

13

NoWaiver,AmendmentsandOurRighttoAssign.......................................................................................6

14

GoverningLaw..............................................................................................................................................6

InsuranceTermsExplained...............................................................................................................................................8
1

AverageClause.................................................................................................................................................8

TowergateInsuranceisatradingnameofTowergateUnderwritingGroupLimited
RegisteredOffice:TowergateHouse,EclipsePark,SittingbourneRoad,Maidstone,KentME143ENAuthorisedandregulated
bytheFinancialConductAuthority
Version:I4CH20June2014JM

Important Information

1
Who are we regulated by?
TheFinancialConductAuthority(FCA)isanindependentwatchdogthatregulatesfinancialservices.Weareauthorisedand
regulatedbythemandyoucancheckthisontheFinancialServicesRegisterbyvisitingtheFCAswebsite
www.fca.gov.uk/registerorbycontactingtheFCAon08001116768.Ourpermittedactivitiesarerecommendinginsurance
policies(andincaseswherewedonotgivearecommendationwewilltellyou);arranginginsurancecover;dealingasagentand
assistingwiththeadministrationandperformanceofpoliciesallinconnectionwithgeneralinsurance.
2
Are we covered by the Financial Services Compensation Scheme (FSCS)?
Yes.Youmaybeentitledtocompensationfromtheschemeifweoryourinsurercannotmeetourobligations,dependingonthe
circumstancesoftheclaim.TheFSCSdoesnotapplytothefollowingtypesofinsurance:aircraft,ships,goodsintransit,aircraft
liability,shipsliabilityandcredit.Forcompulsoryclassesofinsurance,insuranceadvisingandarrangingiscoveredfor100%of
anyclaim,withoutupperlimit.Forotherclasses,coverageis90%ofanyclaimwithoutupperlimit.Furtherinformationabout
compensationschemearrangementsisavailablefromtheFSCSatwww.fscs.org.uk.
3
Complaints
Ourobjectiveistoprovideahighstandardofservicetoyouatalltimes.Howeverwerecognisethatthingscangowrong
occasionallyandifthisoccurswearecommittedtoresolvingmatterspromptlyandfairly.Ifyouwishtoregisteracomplaint
pleasecontactus:

inwriting,totheManagingDirectorattheaddressshownontheletter(orbusinesscard)thataccompaniesthisdocument,
or;

byemail,usingtheemailaddressshownontheletterdocument(orbusinesscard)thataccompaniesthisdocument,or;

bytelephone,usingthenumbershownontheletterdocument(orbusinesscard)thataccompaniesthisdocument,or;

inperson,attheaddressshownontheletter(orbusinesscard)thataccompaniesthisdocument.

Inallcasespleasequoteyourpolicynumberorotherreferencewehavegivenyou.Ifyoucannotsettleyourcomplaintwithus
youmaybeentitledtoreferittotheFinancialOmbudsmanService.OurComplaintsProcedureisavailableuponrequest.
4
Our services
Ourservicesmayincludeadvisingyouonyourgeneralinsuranceneeds,arranginginsurancecoverwithinsurerstomeetyour
requirements,issuingpolicydocumentationtoyouinatimelymannerandhelpingyouwithanyongoingchangesyouwishto
maketoyourinsurance.Wemayalsohelpyoumakeaclaimagainstyourpolicy.
Wewillendeavourtoensurethattheproductsorservicesweofferyoumatchyourstatedrequirements.Wewillseekto
identifyyourinsuranceneedsinrelianceuponinformationwhichyouprovidetous.Ifwecannotmatchyourrequirements,we
willexplainthedifferencesintheproductorservicewecanofferyou.Ifwecannotmatchallyourrequirements,wewillseekto
provideyouwithenoughinformationsoyoucanmakeaninformeddecisionaboutyourinsurance.
Wewillexplainthemainfeaturesoftheproductsandservicesweofferyouincludingdetailsoftheinsurer,maindetailsofcover
andbenefits,anyunusualrestrictionsorexclusions,anysignificantconditionsorobligationswhichyoumustmeetandthe
periodofcover.Ifyouneedextratimetoconsidertheproductsorserviceswehaveofferedyou,wewillendeavourtoconfirm:
(a)howlongyouhavetoaccepttheinsuranceonthetermswehaveoffered,and/or;(b)giveyouawrittenquoteifyourequest
one,includingalltheinformationwebelieveyouneedtomakeaninformeddecision,and/or;provideyouwithasamplepolicyif
youaskforone.
Wherewearenotprovidingadviceorarecommendationwemayaskyousomequestionstonarrowdowntheselectionof
productswewillprovidedetailson.Youwillthenneedtomakeyourownchoiceabouthowtoproceed.

1
TowergateInsuranceisatradingnameofTowergateUnderwritingGroupLimited
RegisteredOffice:TowergateHouse,EclipsePark,SittingbourneRoad,Maidstone,KentME143ENAuthorisedandregulated
bytheFinancialConductAuthority
Version:I4CH20June2014JM

5
Charges we make for our services
Inadditiontocommissionpaidtousbyinsurers,wemaychargeafeeforourservices(typicallywhenyoubuyorrenewapolicy)
howeveryouwillalwaysbeinformedofanysuchchargebeforeyoupurchaseapolicy.Ourfeesarenonrefundableevenifyou
cancelyourpolicy.Duringthetermofthepolicywemaychargeupto50forissuingduplicatedocumentsandforchangesto
yourpolicy.Wemaychargeafeeforpaymentsmadewithacreditcard,upto10fortransactionsuptoandincluding500,and
upto4%ofthetransactionforamountsabove500.Allfeeswillbeinclusiveofanyapplicabletaxthatmaybeleviedfromtime
totime.
Incertaincircumstancesyourinsurermayrepaypartofyourinsurancepremium(s)tous.Thiscanoccurwhere,forexample,the
riskcoveredbyyourpolicyisreducedorthepolicyitselfiscancelled.Wheretheamountoftherefundedpremiumislessthan
10(perpolicy)wewillretainsuchamount,butwhereanadministrationfeeismadewewillsetitoffagainstthisfee.This
paragraphdoesnotaffectanycancellation/refundrightswhichyoumayhave(seeourTermsofBusiness,Section3).

2
TowergateInsuranceisatradingnameofTowergateUnderwritingGroupLimited
RegisteredOffice:TowergateHouse,EclipsePark,SittingbourneRoad,Maidstone,KentME143ENAuthorisedandregulated
bytheFinancialConductAuthority
Version:I4CH20June2014JM

Terms of Business
1
Terms of Business (Terms)
IntheseTermsreferencestoweorusaretothefirmwhosedetailsaresetoutinthecoveringletterthataccompaniesthese
Terms.WerecommendthatforyourownbenefitandprotectionyoushouldreadtheseTermscarefully.TheseTermsconstitute
ourstandardclientagreementuponwhichweintendtorelyandwillapplytoourappointmentbyyouandtheserviceswewill
provide.Ifyoudonotunderstandanypointpleaseaskforfurtherinformation.INPARTICULARwedrawyourattentionto
Section3andSection8oftheseTermswhichrelatetotheamountyouwillreceiveifyoucancelyourpolicy,andthe
maximumamountwewillbeliableforintheeventofournegligence.TheseTermssupersedeallproposals,priordiscussions
andrepresentations(whetheroralorwritten)betweenusrelatingtoourappointmentasyouragentinconnectionwiththe
arrangingandadministrationofyourinsurance.TheseTermsconstituteanofferbyustoactonyourbehalfinthearrangingand
administrationofyourinsuranceintheabsenceofanyspecificacceptancecommunicatedtousbyyou(whetherverbalor
written)youaredeemedtoacceptouroffertoactforyouonthebasisoftheseTermsbyconductuponyourinstructingusto
arrange,reneworotherwiseactforyouinconnectionwithinsurancematters.IfyoudonotwishtobeboundbytheseTerms
thenyoushouldnotinstructustoarrange,reneworotherwisedealwithyourinsuranceneeds.
2
Your duty in relation to the questions asked
InarrangingyourinsurancebothweandtheInsurerswillaskanumberofquestionswhichyouarerequiredtoanswer.Please
takereasonablecaretoanswerallthequestionshonestly,tothebestofyourknowledgeandprovidefullanswersandrelevant
details.Ifyoudonotanswerthequestionshonestlyortothebestofyourknowledgethenyourpolicymaybecancelledoryour
claimrejectedornotfullypaid.
Wherehelptextisprovidedinrelationtoaquestionpleaseensurethatyoureadthisfullytoensurethecorrectansweris
provided.
3
Cancellation Rights and MidTerm Adjustments
Youwillfindfulldetailsofyourcancellationrights,andanyrelatedchargeswhichmaybeleviedbyyourinsurer,intheterms
andconditionsoftheinsurancepolicyproducedbyyourinsurancecompany.
Cancellationrightsvarybetweeninsurers.Dependingonthetypeofinsuranceyouwillhaveeither14or30days(theCooling
OffPeriod)tocancelyourpolicywitheffectfrom:(a)thedayyoureceivethefulltermsandconditionsofthepolicy,or;(b)the
daythepolicyissoldwhicheveristhelater.PleasenotethataCoolingOffPerioddoesnotusuallyapplytopoliciesoflessthan
onemonthsduration,orsingletriptravelpolicies.Toexerciseyourrightofcancellation,contactyourinsurancecompanyor
contactuseitherbytelephoneorbyletterineachcaseinthemannerandwithinthetimelimitssetoutinyourpolicy
documentation.IfyouexerciseyourrighttocancelyourpolicywithintheCoolingOffPeriodyouwillbechargedfortheperiod
duringwhichyouweretemporarilycovered,andothercharges(suchasanadministrationfee)maybeappliedbyusorthe
Insurer(s)tocoverthecostsinarrangingthecancelledpolicy.Yourattentionisspecificallydrawntothefollowing:Whereyou
cancelyourpolicyaftertheexpiryoftheCoolingOffPeriodorwhereyourequestamidtermadjustmentwhichreducesthe
coverprovidedunderthepolicy,wemaychargeyouforourtimeandcosts.Thiswillresultinusreducingtheamount
refundedtoyoubythefullamountofthecommissionandfeeswewouldhavereceivedhadyounotcancelledoramended
yourpolicy.Thereasonforthisisthatthemajorityofourcostsareincurredeitherininitiallyfindingandsettingupyourpolicy
orintheannualrenewalprocesswhenwemightchecktheongoingsuitabilityofthecoverthepolicyoffers.Thesecostsare
recoveredthroughthecommissionweearn.Ifyoucancel,thisdoesnotgiveusanopportunitytorecoverthecostsweincurred
andwouldoftenresultinusmakingaloss.However,anychargemadewillnotexceedthecostofthecommissionandfeeswe
wouldhaveearned.
Whereyouarepayingforyourinsurancebyinstalments(andaninstalmentpaymentisnotreceivedbyusortherelevant
premiumfinanceprovideronorbeforethedatewhenitisduetobepaid)youagreethatwemayonyourbehalfinstructthe
insurertocanceltheinsurance(orwherethefirstinstalmentpaymenthasnotbeenreceived,notifytheinsurerthatthepolicy
hasnotbeentakenup)andoffsetanyrefundofpremiumwhichmaybereceivedagainstanymoneywhichyouowetous,the
insurerand/orthepremiumfinanceprovider.Insuchcircumstancesyouwillremainliableforanytimeonriskorothercharge.
Youwillalsoberesponsibleforputtinginplaceanyalternativeinsurance.
4
Our right to set off monies you owe us
Itisourpracticetosetoffanyamountsduetousfromyouagainstanymonieswhichwemayreceiveonyourbehalf(suchas
claimsmoniesorpremiumrefunds).

3
TowergateInsuranceisatradingnameofTowergateUnderwritingGroupLimited
RegisteredOffice:TowergateHouse,EclipsePark,SittingbourneRoad,Maidstone,KentME143ENAuthorisedandregulated
bytheFinancialConductAuthority
Version:I4CH20June2014JM

5
Information on our remuneration
Othercompanies(includingmembersofourgroupofcompanies)mayactasunderwritingagents,intermediariesforinsurersor
Lloyds/LondonMarketplacingbrokersinconnectionwithyourinsurance.Wheresuchcompaniesareinvolvedinplacingor
servicingyourbusinesstheymaychargeanadministrationfeeorotherpaymentwhichwillbepassedontoyouanddisclosed
separatelyfromthecostofyourinsurance.Suchbusinessesearncommissioninrespectofplacingsuchbusinesswhichis
separatefromthatwhichwereceive.
Inadditiontocommissionpaidtousbyinsurerswemayearnaprofitshare,managementoradministrativefeesandother
paymentsfrominsurersforefficientlymanagingbusinesstransactedwiththem.Thesepaymentsmaybecalculatedby
referencetovariouscriteriasuchasoverallannualprofitabilityoftheinsurancebusinesstransacted,takingintoaccountthe
totalamountofclaimsarisingunderpoliciesweplacewiththem.Profitsharepaymentsarenotdirectlyreferabletoindividual
policiesandconsequentlyitisnotpossibletocalculatesuchpaymentsonanindividualpolicybasis,meaningthatweareunable
todisclosetoyouhowmuchyourpolicycontributedtoanyprofitsharepaymentwemightreceive.Ordinarily,andifsucha
profitsharepaymentisreceived(whichisnotguaranteed)itrepresentsasmallproportionofthenormalcommissionwe
receiveandwillberetainedbyus.
Dependingontheservicesyouhaveaskedustoperformwemayearnreferralfeesfromthirdpartieswhichareincidentaltothe
insurancearrangedforyou.Examplesincludearrangingpremiumfinancingandriskmanagementservices.Ineachcasewewill
retainthesepayments.
Fromtimetotimeinsurersmaymakeloanfacilitiesavailabletousoncommerciallyadvantageoustermsasanincentiveforusto
efficientlyandprofitablymanagebusinesstransactedwiththem.Thismayinvolve(forexample)reducedornilinterestrates
andextendedrepaymenttermswhichapplytosuchloansprovidedwemeetorexceedefficiencyandprofitabilitytargetssetby
theinsurersinrespectofthebusinesswehaveplacedwiththem.
Duringthecourseofourappointmentwemayholdcertainmoniesonyourbehalf.Thismayincludepremiumstobepaidto
insurers,commissionsderivedfromyourinsurance,claimsmoniesandothersums.Interestandinvestmentreturnswhichare
derivedfromsuchsumswhilsttemporarilyheldonyouroryourinsurersbehalfwillbelongtoandberetainedbyusinaddition
toanyotherremunerationwhichwemayearninconnectionwiththeserviceswhichyouhaveaskedustoperform.
Foreachinsurancecontract,includinganysubsequentrenewal,youhavearighttorequestinformationregardingany
remunerationthatwemayhavereceivedasaresultofplacingyourinsurancebusiness.
6
Insurer Solvency
Weendeavourtoplacebusinesswithinsurerswithadequatelevelsoffinancialsolvencybutcannotguaranteethesolvencyof
anyinsurer.
Wedonotmonitorinsurersolvencyonanongoingbasis,andshallnotbeliableforlossessufferedbyyouintheeventofthe
insolvencyofaninsurer.

7
Incidents, Potential Claims and how to make a Claim
Ifyouwishtoreportaclaimorpotentialclaim,pleasefollowtheinstructionsprovidedwithyourinsurancecompanys
documentation,quotingyourpolicynumberorotherreferencegiventoyou.Alternatively,ifweneedtobenotifiedaswellas
(orinsteadof)yourinsurancecompany,wewillhaveprovidedyouwithdetails(andatelephonenumber)atthetimewesold
youyourpolicyand/orinthedocumentationyoureceivedfromus.
Forsomepolicies,insurersgiveusauthoritytoactontheirbehalfinsettlingclaims.Inthesecircumstances,andinrecognitionof
apotentialconflictofinterest,wewillseekyourpermissionforustodealwithsuchaclaim.
Itisessentialyounotifyuspromptlyafterdiscoveryofallincidentsorallegationsthatmayresultinaclaimagainstyour
insurancepolicy.Youmustdosowhetheryoubelieveyouareliableornot.Anyfailuretodosomayresultinyourinsurer
refusingtoacceptaclaim.Anyletterorothercommunicationmakingallegationswhichcouldgiverisetoaclaimwhichis
receivedbyyoufromanythirdpartymustbepassedtousimmediately,withoutacknowledgment.Onlybyprovidingprompt
notificationofincidentscanyourinsurancecompanytakestepstoprotectyourinterests.
8.
Limitation/Exclusion of Liability
YourAttentionisspecificallydrawntothisclausewhichlimitsorexcludesourliabilitytoyou.

4
TowergateInsuranceisatradingnameofTowergateUnderwritingGroupLimited
RegisteredOffice:TowergateHouse,EclipsePark,SittingbourneRoad,Maidstone,KentME143ENAuthorisedandregulated
bytheFinancialConductAuthority
Version:I4CH20June2014JM

Ourliabilityforlossessufferedbyyouasadirectconsequenceofanynegligentperformanceofourservicesshallbelimitedin
allcircumstancesto5,000,000perclaim.Inrespectofanyotherclaimarisingoutofourperformanceornonperformanceof
theserviceshereunderourliabilityshallbelimitedtotheamountofcommissionandfeeswhichwehavereceivedforarranging
yourinsurancecoverduringthe12monthspriortosuchclaimarising.
Weshallnotbeliabletoyouforanyeconomicloss,lossofprofitorlossofbusiness,whetherdirectlyorindirectlyoccurringand
whicharisesoutoforinconnectionwiththeseTerms.Nothinginthisparagraphshallexcludeorlimitourliabilityfordeathor
personalinjurycausedbyournegligence,orforlosscausedbyourfraud,wilfulmisrepresentationorbreachofregulatory
obligationsowedtoyou.
Youarewelcometocontactustodiscussincreasingthelimitationsofourliabilityand/orvaryingtheexclusionssetoutabove.
Pleasenotehoweverthatanadditionalchargeandothertermsmayapplyshouldweagreetoamendthisclause.
9
Terms of Payment
Intheabsenceofanyalternativetermswhichweagreewithyouinwriting(suchaspaymentbyinstalmentswhichwecan
arrangeforyou)ourpaymenttermsareasfollows:

newpoliciesfullpaymentofpremiumandfeesonorbeforetheinceptiondateofthepolicy;

midtermadjustmentstoexistingpoliciesfullpaymentofanyadditionalpremiumandfeesonorbeforetheeffectivedate
ofthechange;

renewalsfullpaymentofpremiumandfeespriortotherenewaldate.

Wenormallyacceptpaymentbydebitorcreditcard.
Itisimperativeyoucomplywithallpaymenttermsandduedatessetoutinthisparagraphoranysuchothertermsanddates
whichweagreecanbesubstitutedforanyofthem.Intheeventthatyoufailtopayanypremiumorotherfeesduewithin
thepaymenttermsalatepaymentfeeofupto50maybechargedandyouwillbeliableforanyextracostsincurredto
recovertheoutstandingmoniesowed.Yourinsurermaycancelyourpolicyfromtheinceptionorrenewaldateandany
claimssubmittedmayberejected.
10
Renewal of Policies
Priortotheexpiryofyourpolicywherewewillbeinvitingarenewalwe(oryourinsurancecompany)willendeavourtosendyou
detailsofthecostandtermstorenewyourpolicy.
Inordertoprotectyourinterestsrelatingtotherisks/propertyyouhaveinsured,andintheeventthatwedonotreceiveyour
instructionsandpaymentpriortothedateofrenewal,wereservetheright(butshallhavenoobligation)torenewyourpolicy
and(inthecaseofdirectdebit/instalmentpayments)tocontinuetoacceptpaymentfromyouunlessanduntilyouspecifically
notifyusoryourinsurancecompanyinwritingthatyouwishtocancelyourpolicy.Incircumstanceswherewehaveassumed(in
theabsenceofinstructionstothecontrary)thatrenewalisrequiredyoumaybeliabletomakepaymenttousand/oryour
insurancecompany.
11
How we hold your money
Premium(s)andanyothermonieswemayholdonyourbehalf(forexamplerefundpremiumsandclaimchequesreceivedfrom
aninsurer)willbeheldinTrustuntilsuchtimeastheyareremittedbyustoyourinsurancecompany/toyou.Thismaybea
StatutoryorNonStatutoryTrustaccountoperatedinaccordancewithFCAregulations.However,some(butnotall)ofthe
insurancecompanieswedealwithhaveagreedtodeemanypremiumsthatyoupaytousashavingbeenreceiveddirectlyby
themselves.
Thisimprovesyourprotectionagainstfinanciallossintheeventofourinsolvency.Pleasenotethatthisisnotthecaseforallthe
insurancecompanieswedealwithandwherethisaddedprotectiondoesapplyitmayonlyextendtopremiums,andnottoany
claimpayment,refundorothermoniesthatwemayfromtimetotimeholdonyourbehalf.Shouldsuchanarrangementbe
agreedwithaninsurer(s)wemaynotholdyourfundsinTrustbecauseofthisaddedprotection.
Wewilltakecommissionearnedfrominsurancecompaniesinconnectionwithyourinsurances,fromtheStatutoryorNon
StatutoryTrustaccount,onlyafterwehavereceivedyourpremium(orreceiveditfromathirdpartyfinanceprovideronyour
behalf).ThismayoccurbeforepaymentofthepremiumtotheinsurancecompanyandwilltakeaccountoftheTermsof
Businesswehaveagreedwiththeinsurancecompanies.

5
TowergateInsuranceisatradingnameofTowergateUnderwritingGroupLimited
RegisteredOffice:TowergateHouse,EclipsePark,SittingbourneRoad,Maidstone,KentME143ENAuthorisedandregulated
bytheFinancialConductAuthority
Version:I4CH20June2014JM

Whereweholdmoneyinanonstatutorytrustwemayusethefundsinthataccountasashorttermcreditfacilitytofund
anotherclientspremiumbeforeitisreceivedfromthatotherclientand/ortopayclaimsandpremiumrefundstoanotherclient
beforewereceivethesamefromaninsurer.Thetotalfundsheldinthenonstatutorytrustaccountmustalwayscomplywith
theFCAregulationstoensureyouareprotectedfromloss.
Occasionallyaspartoftheprocessoffindingapolicythatsuitsyourrequirements,wemaypassyourpremiumtoanother
insuranceintermediarywhowillalsoberequiredtoholdyourmoneyinTrustuntilthepremiumisdeemedtohavebeen
receivedbytherelevantinsurer.Betweenreceivinganymoneyfromyouanduspassingitontoinsurers(andviceversa),we
mayremoveitfromtheTrustaccountinwhichitisheldtoanotheraccountinordertoearninterestorotherinvestmentincome
fromit.InsuchaneventtheaccountinwhichitisplacedwillbesetupwiththesameTrustprotectionastheaccountfrom
whichitisremoved.Toimprovetheefficiencyofourbusinesswemaywishtotransferyourpolicybetweencompanieswithin
theTowergatePartnershipgroupofcompanies.Insuchcircumstanceswemaytransferanymoneyweholdonyourbehalftoa
newbankaccountwiththesametrustprotectionsastheexistingaccounttoensurethattheprotectionaffordedtoyourmoney
remainsinplaceatalltimes.Wewillretainanyinterestorincomeaccrued.
Byacceptingthesetermsyouconsenttothewaywewillholdyourpremium(and/orotherinsurancerelatedmoney)in
accordancewiththisparagraph.
12
Confidentiality and Data Protection
Allinformationaboutyouofasensitiveorpersonalnaturewillbetreatedasprivateandconfidential.Wewillhoweveruseand
disclosetheinformationwehaveaboutyouinthecourseofarranging,placingandadministeringyourinsurance.Thismay
involvepassinginformationaboutyoutoinsurers,otherintermediaries,riskmanagementassessors,uninsuredlossrecovery
agenciesandotherthirdpartiesinvolved(directlyorindirectly)inyourinsurance.
Wemayalsopassinformationaboutyoutocreditreferenceagenciesandpremiumfinanceprovidersinconnectionwiththe
assessmentofyourfinancialstandinggenerallyand,inparticular,whereyouhaverequestedapremiuminstalmentplanthis
mayincludedetailsofyourpaymentrecordwithus.
Wemayalsopassinformationaboutyoutoothercompanieswhicharein,orareassociatedwith,ourgroup.Weortheymay
alsousetheinformationweholdaboutyoutoprovideyouwithinformationonotherproductsandservicesweortheycanoffer
andwhichweortheyfeelmaybeofinteresttoyou.
Ifyoudonotwishtoreceivemarketinginformationfromusorthem,orforustodiscloseinformationaboutyoutootherparties
formarketingpurposes,pleasecontactusimmediately.
Intheinterestsofsecurityandtoimproveourservice,telephonecallsmaybemonitoredand/orrecorded.
13
No Waiver, Amendments and Our Right to Assign
AnydelayonourpartinenforcinganyoftherightsundertheseTerms,eitherinwholeorinpart,shallnotbedeemedtobea
waiverofsuchright.
Withouttheagreementoftheother,neitherwenoryoumayaltertheseTermsatanytimeduringourappointment(including
fortheavoidanceofdoubtduringthetermofyourinsurance).Wereservetherighttomakeamendmentsthatarerequiredto
reflectachangeofapplicablelaworregulation.Wheneverpossiblewewillprovideatleastonemonthswrittennoticetoyou,
beforeanysuchchangestakeeffect.
WemayfreelyassignordelegatealloranypartoftheseTermsand/ortheservicestoanythirdparty.Intheeventthatwe
assignordelegateall,oranypart,oftheseTermstoathirdpartyyourrightsundertheseTermswillnotbeadverselyaffected.
14
Governing Law
TheseTermsandconditionsaregovernedbyEnglishLawandwebothagreetosubmittothenonexclusivejurisdictionofthe
Englishcourts.

6
TowergateInsuranceisatradingnameofTowergateUnderwritingGroupLimited
RegisteredOffice:TowergateHouse,EclipsePark,SittingbourneRoad,Maidstone,KentME143ENAuthorisedandregulated
bytheFinancialConductAuthority
Version:I4CH20June2014JM

Insurance Terms Explained

1
Average Clause

PleasebeawarethatyourpolicymaybesubjecttoAverage,wherebyclaimswillbeproportionallyreducedifthesuminsured
islessthanthefullvalueatriskorwhereunderinsuranceisofasignificantamountaclaimcouldberejectedentirely.Bearingin
mindtheattitudeofinsurancecompaniestowardsunderinsurance,wewouldurgeyoutocheckthecurrentfigurestoensure
thattheyremainadequate.TheprincipleofAveragemeansthatifyouareinsuredforlessthanthefullvalueforthatitematthe
timeofloss,thenANYclaimpaymentwillbereducedintheproportionthatthesuminsuredbearstothefullvalueatrisk.

Iftheunderinsuranceissignificanttheinsurercouldrejectaclaimentirely.Asanexample,ifahouseisinsuredfor300,000but
thevalueofthehouseatthetimeofalossis400,000aclaimforlossof,say100,000wouldresultinapaymentof75,000as
follows:

100,000
X
300,000
=
75,000
400,000

Itisthereforeimportanttoensurethatyoursumsinsuredforallitemsrepresentthefullvalueatriskatthecommencementof
thepolicyperiodandthatprotectionisinplacetoallowforinflationduringtheperiodofinsurance.

ForfurtherinformationaboutAverage,pleasecontactus.

7
TowergateInsuranceisatradingnameofTowergateUnderwritingGroupLimited
RegisteredOffice:TowergateHouse,EclipsePark,SittingbourneRoad,Maidstone,KentME143ENAuthorisedandregulated
bytheFinancialConductAuthority
Version:I4CH20June2014