Nowell & Richards – Terms of Business

Terms of Business Agreement

This document details our service and our arrangements for dealing with your insurance. Please read it carefully and retain a copy for  your  records.  The  English  language  will  be  used  for  all communications,  the  contractual terms  and  conditions,  and  any information we are required to supply to you, before and during the duration of the contract and this agreement shall be subject to English Law.


The  Financial  Conduct  Authority is  the  independent  watchdog  that  regulates  financial  services.  Nowell  &  Richards  Insurance Services  Ltd  is  authorised  and  regulated  by  the  Financial  Conduct  Authority.  Our  FCA  Register  number  is  190660.  You  can  check our  status  at or  by  contacting  the  FCA  on  0800  111  6768.  Our  permitted  business  includes  advising, arranging, dealing in and assisting with the placing & administration of General Insurance policies.


How we treat the information You give us (Our Privacy Statement)

Nowell & Richards Insurance Services Ltd is a data controller and our data protection officer is Miss Sally Newnes.  We act as your agent in obtaining quotations and will treat all your personal
information as private and confidential to us and anyone else involved in the normal course of arranging and administering your insurance. We will collect data, which will include personal information and risk details required to effect the policy, solely for the purpose of obtaining and providing insurance quotations, arranging and administering your insurance. Provision of data to us is under a contractual requirement and we will be unable to offer any quotation for insurance if you refuse to provide certain personal data, including health, financial and criminal records data where these would affect the provision of cover and/or performance of insurance contracts.

Your  information  will  be  shared  with  insurers,  which  could  include  reputable  providers  in  other  countries,  to  enable  them  to provide  accurate  terms  and  they  will  also  obtain  data  about  you  and  your  insurance  history  from  various  insurance  anti
-fraud databases,  such  as  the  Claims  and  Underwriting  Exchange  (CUE)  as  well  as  publicly  available  websites  and  credit referencing agencies.  We  will  not  give  anyone  else  any  personal  information except  on  your  instructions  or  authority,  or  where  we  are required  to  do  so  by  law,  or  by  virtue  of  our  regulatory  requirements. Information  about  you  and  your  insurances  will  be  held while you are a client and for three years after expiry of your policies. Under the Data Protection Act 1998 all data subjects have the right to see personal information about them that we hold, although a charge of £10 will be made to cover our administration.
Please write to our data protection officer at our usual office address.


Our Service to you and the Products we Offer

We are an independent insurance broker, who acts on our customers’ behalf in arranging insurance.  Our  services  include: 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  usually  offer  advice  from  a  range  of  insurers, representing  a  fair  analysis  of  the market,  however,  under  certain  circumstances  we  may only deal with a limited panel, or single insurer and we will notify you when this applies.

We  will  advise  and  make  a  recommendation for  you  after  we  have  assessed  your  demands  and  needs.  Our  advice  will be confirmed  in  a  demands  &  needs  and  suitability  statement,  giving  reasons  for  our  recommendation.  In  respect  of  Legal Expenses/Motor Breakdown, you will not receive advice or a recommendation from us and you will then need to make your own choice about how to proceed.


Information on Payment Options and How we will treat Payments You make to Us

We  normally  accept  payment  by  cheque  or  the  following  credit/debit  cards – Visa,  Mastercard.  You  may  be  able  to  spread  your payments through insurers’ instalment schemes  or  a  credit  scheme,  which  we  have  arranged  with  an  established  insurance premium finance provider, however rates and acceptance may be subject to a credit check. We will give you full information about your  payment  options  and  the  appropriate  finance  agreement  when  we  discuss  your  insurance  in  detail. Under  the  terms  of  our agreements with the Insurance companies with whom we place business, we normally receive premiums you pay to us as Agent of the Insurer. All insurance premiums you pay to us are protected in a Statutory Trust Client Account until we pay insurers. We do not pay any interest on premiums held by us in the course of arranging and administering your insurance.


Our Fees and Charges for providing Our Services to You

We usually receive a commission from the insurer with whom we place your business and, in addition, we make the following charges to cover the administration of your insurance:

Arranging new policies upto £ 50.00
Mid term adjustments – Track day cover  £ 10.00
Mid term adjustments – Change of Registration Number £ 12.50
All other Mid term adjustments  £ 20.00 Renewals  £ 25.00 Replacement/duplicate certificates or cover notes  £ 22.50
Payment by: Credit Cards  1 %

All premiums under £100 in respect of Mid Term adjustments are to be paid immediately by debit/credit card, at the time of instruction. Mid term cancellations and other refunds are refunded NET of commission and we may, in addition, charge an administration fee of £ 50.00. Please note any return premiums under £25 GROSS will not be refunded. Administration costs & premium in respect of Legal Protection Insurance are non-refundable.

Personal lines/Retail policies cancelled during the ‘Right to Cancel’ period will be subject to an administration charge of £50.00, in addition to the premium charged by the insurer for the period of cover provided. 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. 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.


How you can complain

Our aim is to provide a first class service, however, if you wish to register a complaint, please contact us by writing To Complaints Manager, Nowell & Richards Insurance Services Ltd, Carfax House, 4-5 Ferranti Court, Staffordshire Technology Park, Stafford ST18 0LQ or, by phone on 01785 255514, by email at If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service, for an independent assessment. The FOS Consumer Helpline is on 0800 023 4567 and their address is: Financial Ombudsman Service, Exchange Tower, London E14 9SR Their website is at: or, if your complaint relates to a policy sold online or via email can register the complaint using the European Online Dispute Resolution platform at


The Financial Services Compensation Scheme (FSCS) We  are  covered  by  the  Financial  Services  Compensation  Scheme  (FSCS). Insurance advising and arranging is covered for 90% of the claim, without an upper limit. For compulsory insurances (for example, motor insurance and employers’ liability insurance), insurance advising and arranging is covered for 100% of the claim, without an upper limit. Further information about compensation scheme arrangements is available from the FSCS.


Premium Finance Facilities and Service

We  are  authorised as  Credit  Brokers  and  for  Debt  Administration  &  Counselling  and  may  use insurance and finance providers who will conduct a credit check, which will be recorded on your credit record. Please  contact  us  if  you  do  NOT  consent  to a  credit  check  being  undertaken, however  this may affect our ability to offer instalment facilities to you. In relation to the provision of credit, we offer only  the  facilities  provided  by  Insurers,  or  those  of  Premium  Credit  from  whom  we  may  receive  a commission.  We  will  not  offer  you  any  advice  on  premium  finance  facilities  available  through  us  and you will need to decide yourself on the suitability of any credit agreement offered.
Please Note: Your policy cover will cease if you fail to keep up payments on an instalment agreement or premium finance facility related to it and your credit rating may be affected. In entering into a credit agreement to pay your insurance premium, you give the finance provider the legal Right to cancel your insurance policy on your behalf in the event that you default on the loan, and offset  any  refunded  premium  against  the  outstanding  amount  owed  to  them.  This  means  that  if  you  default  on  your  payment terms and the finance provider requests that we cancel your policy, we will do so as your agent.


Your Responsibility to Provide Information

You must take reasonable care to answer all questions honestly and to the best of your knowledge,  and  if  you  volunteer  any  other  information,  you  must  ensure  that the information is not misleading. If  any  information  that  you  have  provided  to  us  changes  before  you  take  out  your insurance, during the life of the policy or at renewal, you must inform us of the change. If  you  deliberately,  recklessly  or  carelessly  misrepresent  any  information  in  relation  to this insurance then your policy may be cancelled without refund, or treated as if it never existed, or your claim rejected or not fully paid.

Reporting Claims:
As  part  of  our  service,  we  will  assist  you  with  any  claim  you  need  to  make  and  tell  you  what  your responsibilities  are  in  relation  to  making  claims.  All  incidents  which  could  lead  to  a  claim  must  be  reported  as  soon  as practicable. Your insurer’s claims  contact  number  is  shown  in  your  policy.  For  Motor  Insurance  we  operate  an  outsourced claims  management  service  via  Kindertons  Accident  Management,  who  will  assist  you  with  your  claim  and  recovery  of uninsured losses where this is possible. ALL such claims should be reported using the contact number 0845 094 2303.


Your Right to Cancel

You   have   a   legal   right to   cancel   your   policy   or   credit   agreement   for   any   reason,   subject   to   no   claims   having occurred,  within  14  days  of  receiving  the  full  terms  &  conditions.  You  will  always  be  advised  where  this Right  applies.  A  charge  will  apply  for  the  period  of  cover  provided  and,  in  addition,  we  make  an administration charge as detailed above. If you cancel a credit agreement you will need to repay any sums provided  in  full.  If  you  cancel  after  the  14  days  has  elapsed,  short-period  cancellation  rates  apply. If  you wish to cancel a policy you must advise us in writing, prior to expiry of the 14-day cancellation period, to our usual office address.