Terms of Business

Terms of Business – Consumer Customers

This agreement is intended for 'Consumer' (retail) customers rather than 'Commercial' customers; Consumer customers are those that are purchasing cover other than for / within their trade, business or profession.  If you are not a Consumer customer, ask Mint for our Commercial Terms of Business Agreement.

Acceptance

The purpose of this agreement is to set out our professional relationship and detail the services Mint will provide to you. For your own benefit and protection, you should read all of the information carefully and in particular, Mint would like to draw your attention to the ‘Your Duty To Take Reasonable Care Not To Make a Misrepresentation’, the ‘Processing of your Personal Data’, the ‘Payment of premium’ and also the ‘Client and Insurer Money’ sections. By asking Mint to quote for, arrange or handle your insurances, you are deemed to be providing your informed agreement to these Terms of Business. If you do not agree to any part of the information, please write to Mint.

This agreement will supersede any previous version of Mint’s Terms of Business

Who regulates us?

Mint is a trading name of James Hallam Limited (FCA Registration No: 134435) which is authorised and regulated by the Financial Conduct Authority.

Our details may be confirmed on the Financial Services Register at:
w: https://www.fca.org.uk/firms/financial-services-register or by calling t: 0800 111 6768.

Mint’s permitted business is introducing, advising, arranging, dealing as agent, and assisting in the administration and performance of general insurance contracts, and credit broking in relation to insurance payment instalment facilities.

Our Service

Mint act as an intermediary, not an insurer.

Mint is committed to providing you with a quality service. Mint only selects from insurance products in which we have confidence to meet the needs of our clients.

As an intermediary, Mint will act on your behalf when arranging your insurances, when helping you make changes to your policy, when you renew your insurance or when you make a claim. If there are any circumstances when Mint acts as an agent of the insurer (e.g., in binding the insurer to contract or in handling or settling claims) we will let you know before your insurance arrangements are concluded.

Under risk transfer, Mint also acts on behalf of insurers when collecting premiums and handling refunds due to clients as well as the transfer of claims monies. Such monies are deemed to be held by the insurer(s) with whom your insurance is arranged.

Mint will confirm to you whether we are providing advice or not providing advice as part of our sales process.

If you mislay your policy at any time, Mint will arrange a replacement policy document, if you request it.

As your agent and unless Mint hears from you otherwise:

Mint will assist in the arrangement and administration of your insurances (and on-going changes) including agreeing the terms and conditions of your insurance policy with insurers consistent with your instructions.

Upon receipt of your instruction Mint will place, amend or renew insurance cover on your behalf with insurers.

Mint will advise you of any inability to place your insurance.

Mint will assist you if you need to make a claim, or where we outsource claims handling facilities to provide you with an enhanced service.

You should not rely on any insurance policy you have instructed Mint to place on cover until we have confirmed in writing to you that the insurer has agreed to such insurance cover being in force.

Scope of Our Recommendations

Mint will ask questions to enable us to help identify your insurance requirements; this may include checking information that we already hold about you and your existing insurance arrangements with us and other parties.

Unless stated otherwise Mint will make a personal recommendation to you, as to the most suitable policy based upon our assessment of your insurance needs and on our experience of dealing with similar risks. This may or may not always be on the basis of a fair and personal analysis of the market (see below). The recommendation will include a summary of our assessment together with the type of policy and cover proposed and the associated cost.

Mint undertakes to explain the main features of the products, which includes those shown on an (IPID) Insurance Policy Information Document and services that we offer to you as well as the basis on which we have provided information and/or advice.

Where Mint is making a personal recommendation based on a fair and personal analysis of the market, this will involve an assessment of a sufficient number of target market products, their product features, the premium and the service provided by the insurer.

Mint is not under a contractual obligation to do so, but on occasion, we may only offer the products from a single insurer or from a panel of insurers at which time we will provide you with a list of the insurers concerned prior to the conclusion of your insurance arrangements.

If Mint uses the services of another intermediary to place your insurance, we will advise you of the name of the intermediary we use and the name of the insurer.

Where Mint declares that we are not providing a personal recommendation we will simply provide you with information (with no advice) to enable you to make an informed decision on how you wish to proceed.

Law and Jurisdiction

These Terms of Business are governed by and in accordance with the laws of England and Wales. 

If you are domiciled in a country other than the UK, then the laws or regulations in your country of domicile may take precedence over any relevant UK legislation. Therefore, references in this document to the FCA or Financial Ombudsman Service (FOS) and any rights or benefits may not apply.

Limitation and Exclusion of Liability

Unless Mint has otherwise agreed with you in writing, our liability to you (whether in contract or tort including negligence) will in all circumstances be limited up to £5,000,000 - any one claim and in the aggregate.

Notwithstanding the preceding paragraph, Mint shall not be liable to you under any circumstance for any loss of profit, indirect loss or consequential loss whatsoever.

This exclusion and limitation will not apply in respect of Mint’s liability:

i)      arising from any fraudulent act or

ii)     for death or personal injury arising from Mint’s negligence or

iii)    from any duty or obligation owed to you under any statutory or regulatory stipulation.

Your Duty to Take Reasonable Care Not to Make a Misrepresentation

Under the Consumer Insurance (Disclosure and Representations) Act 2012 you have a Duty to take reasonable care not to make a misrepresentation.

If you view yourself to be a Vulnerable Customer, at the time of completing your required insurance form(s), then we recommend that you request the assistance of a relative or close friend, to help one avoid possible misrepresentation.

You must:

• Disclose all “material circumstances” which you know or ought to know or, failing that,
• Provide sufficient information to put the underwriter on notice to ask further questions.

In arranging insurance cover and in setting the terms and premium, insurers rely on the information you have given us. You must take care when answering any questions that Mint or the Insurers ask by ensuring that all information provided is accurate and complete.

If it is established that you deliberately or recklessly provided false or misleading information your policy may be viewed as null and void, and all claims declined. If you carelessly provided false or misleading information, it could adversely affect your policy and any claim. For example:

  • Your policy would be viewed as a non-existent policy, with all claims rejected, and the premium paid would be returned. This will only happen if you are provided with insurance cover that would not otherwise have been offered.

  • Insurers may amend the terms of your insurance. For the revised terms to be viewed as the original policy terms, due to one’s non-disclosure or error, and could adversely affect a claim(s).

  • Insurers may proportionately reduce the amount paid on a claim in proportion to the premium you have paid, compared to the premium they would have charged you.

FAILURE TO ANSWER QUESTIONS HONESTLY AND REASONABLY WHEN ASKED MAY LEAVE YOU WITH NO COVER AND A CLAIM NOT PAID.

All statements and information disclosed verbally and on proposal forms, statements of fact, claim forms, declarations and other documents should be completed in full, and be true and accurate. Where forms are completed or partially completed on your behalf you should check them for accuracy before signing.  If you are in any doubt as to whether a fact is material, you should disclose it.

Notification of Changes and Alterations

Please notify Mint immediately in the event of any change in your circumstances which are detailed in your proposal form or statement of fact.

We would also refer you to the sections titled Your Duty to Take Reasonable Care Not to Make a Misrepresentation which details your duty to provide complete, accurate and up to date information to your insurers at all times.

Amendments to policies after inception may be arranged upon receipt of your instructions with full details. Cover is subject to acceptance by insurers and the payment of any additional premium required, if applicable.

Renewals

Renewals are invited on the basis that there have been no changes to your circumstances or the risk other than those specifically notified to your insurers and for which you have received an acknowledgement and revised documentation. Please see section headed Notification of Changes and Alterations which also outlines your duties to take Reasonable Care not to make a Misrepresentation.

A new policy is not necessarily provided each year although a duplicate can be provided at any time upon request.

Insurer Security

Insurers are subject to FCA regulation and are required to have adequate capital resources. Mint carries out regular due diligence checks on all insurance markets used but cannot guarantee the solvency levels of any individual insurer. Your liability for the premium, whether in full or pro rata, may arise under policies where a participating insurer becomes insolvent. An insolvent insurer may also be unable to meet a proportion or all of any claim made. Consequently, Mint recommends that, when selecting an insurance product, also consider insuring with those firms with higher credit ratings which also satisfy our requirements. Should you be concerned or require any further information regarding your insurer then Mint will discuss this with you on request.

Quotations

Quotations are valid until the date cover commences up to a maximum of 30 days, unless otherwise stated. Specimen policy wordings and Insurance Policy Information Documents are available upon request.

Documentation

Documentation including your policy schedule and certificate (if applicable) will be issued to you in a timely manner.

It is your responsibility to read all documentation upon receipt to ensure that all details are correct and that the cover provided meets with your requirements.

Mint will arrange cover according to your instructions but only you can identify if this does not meet your intended requirements.

Any query regarding the accuracy of the information shown or any uncertainty over the content should be raised with Mint immediately. Incorrect information disclosure or non-disclosure may invalidate your policy cover completely or mean that in the event of a claim all or part of it may not be paid.

Payment of Premium

Please also refer to the Client and Insurer Money section.

Mint must receive your payment, unless it is made by you directly to the insurer, by Bank Transfer, cheque, credit or debit card, or be in receipt of a completed Direct Debit Mandate (with deposit if required) drawn on a bank or building society or UK financial institution account in the policyholder’s name and before cover commences unless we agree otherwise in writing.

Mint does not accept payment by cash or postal order but a bankers’ draft or building society cheque is acceptable if it shows the policyholder’s name as account holder.

Mint has no obligation to fund any premium, taxes or fees (if applicable) on your behalf nor do we have any responsibility for any loss you may suffer as a result of cancellation of insurance cover, or any other prejudicial steps taken as a result of late or non-payment substantially attributable to you.

If Mint decides to retain certain documents whilst awaiting full payment of premium, fees or administration charges we shall provide details of your insurance cover and any information or documents required by law.

Mint is entitled (but not obliged) without providing notice to you to set off any amounts due to us from you, against any amounts which we may receive on your behalf (i.e. claims moneys, refunded premiums and other sums). Please be aware that full or partial non-payment of a premium or default on a credit agreement may result in the notice of cancellation or lapsing of your policy. You will also be responsible for any collection costs, legal fees and court costs that Mint may incur in recovering debts due from you.

Transferred Business

When Mint is appointed to service insurance policies other than at their inception or renewal and which were originally arranged by another party, we shall not be liable during the current insurance period for any loss arising from any errors or omissions or gaps in your insurance cover or advice not supplied by us. Should you have any concerns in respect of a policy which has been transferred to Mint, or if you require an immediate review of your insurance arrangements, you must notify us immediately. Otherwise, Mint shall review your insurance arrangements and provide advice accordingly as each policy falls due for renewal.

Cancellation

If you wish to cancel your policy, you may do so at any time. You may be required to return the policy document and also confirm your instructions in this regard. 

Subject to no claim having been made, you may be entitled to a refund of premium. Please refer to your insurer policy document which will detail the cancellation terms and charges. 

Mint also reserves the right to cancel this agreement at any time. In any event, Mint will provide you with at least 7 days’ notice in this regard to enable you to make alternative insurance arrangements. Valid reasons may include non-payment of premium or fees, failure to provide requested documentation or information, deliberate failure to comply with terms set out within this Agreement or insurer’s documentation, or deliberate misrepresentation or non-disclosure or attempted fraud. Mint will notify you of any such termination in writing together with an explanation for our decision if appropriate.

If Mint’s authority to act in connection with your insurance arrangements is terminated (by you or us) you will remain liable to pay for any premium or fee for any transaction concluded prior to the termination. Any transaction in progress at the time of termination will be completed unless Mint receives written instructions to the contrary.

You will also be liable for the payment of any premium or fee which may become due upon completion of any pending transaction.

Claims

Mint will assist you with advice and guidance when you make a claim under your policy, but it remains your responsibility to have read, understood or queried all documentation upon receipt. All incidents that could possibly give rise to a claim must be notified to Mint or your insurer in accordance with the terms of your policy and a claim form completed where required. Delay on your part in notifying a claim and/or completing required forms will risk a loss you suffer not being paid or being paid in part only.

You must not in any circumstances admit liability for a loss or agree to any course of action, other than emergency measures carried out to minimise the loss, as you risk a loss you suffer not being paid or being paid in part only. All correspondence, claims, writs, summonses etc. should be forwarded immediately, unanswered, either to Mint or to your insurer. You are also reminded of your duty to keep all losses and costs arising from an incident to a minimum and that failure to comply with policy terms and conditions may invalidate cover.

Mint will remit claims payments received on your behalf to you as soon as practicable after confirmation of receipt of cleared funds in our bank account. In the event that an insurer becomes insolvent or delays making settlement, Mint do not accept liability for any unpaid amounts.

Mint reserves the right to charge for our claims service if you request this to extend beyond our appointment to your policy and this will be confirmed in writing before you incur any charge.

If Mint’s authority to act in connection with your insurance arrangements is terminated (by you or us), we will immediately cease to handle and manage claims already reported and will also be unable to deal with any which may be subsequently incurred.

Severability

If any provision of these Terms of Business is found to be invalid or unenforceable in whole or in part, the validity of the other provisions of these Terms of Business and the remainder of the provision in question will not be affected.

Assignment

Mint is entitled to assign the benefits of these Terms of Business (but not the burdens as set out in these Terms of Business) to any other company within the Group of Companies of which we are part of, but then only for so long as such the Company remains a member of the said Group. Mint is entitled to transfer Client Monies to a similar bank account held in the name of any other company within the Group of Companies of which we are a part but the only for so long as such Company remains a member of such Group.

Our Remuneration Fees

In return for placing your business with insurers underwriters and or other product providers, Mint generally receives a commission from them which is a percentage of the annual premium that you are charged. Some insurers will make additional payments to Mint depending upon the volume of our account with them or the profitability of that account.

For arranging premium instalment facilities, Mint earns a commission from our premium finance provider(s) which is usually a percentage of the interest that you pay. This means that the amount you pay for credit and the overall cost of arranging your insurance will vary according to the interest charged by the lender and the amount of commission Mint earns. There may be occasions where there is a choice of instalment payment options which may charge different interest rates. Typically, Mint will not receive any commissions from insurers if policies are placed on direct debit instalment arrangements with the insurer. Mint will only receive commissions from the premium finance providers.

Using premium finance or paying an insurer direct debit arrangement (rather than paying the premium in one amount) makes the overall total cost of the insurance more expensive.

A full breakdown of the cost of your insurance including any administration fee and the cost of credit where applicable will be provided as part of your new business or renewal quotation before you decide whether to proceed.

You are entitled at any time to request information regarding any commission which Mint may have received as a result of us placing your insurance business or arranging premium finance. Please be assured that the way in which Mint is remunerated will not at any time conflict with our responsibilities to meet your insurance needs and treat you fairly.

Mint’s remuneration in whatever form and in respect of any policy shall be due on the date of inception or renewal of that policy. Mint shall be entitled to retain all commission and/or agreed fees in respect of the full policy period including where you appoint another intermediary in our place during the currency of the existing policy or where a policy is cancelled after inception or renewal.

Client and Insurer Money

Mint will issue you with an invoice with payment instructions.

Prior to your premium being paid to the insurer, and for your protection, we hold your money as an agent of the insurer (termed risk transfer) in which case your policy is treated by the insurer as being paid for, and the premium will be held in a client bank account on trust for you.

The account in which these funds are kept is a Non-Statutory Trust Account (as defined by the FCA Rules). This means that we may extend credit to other customers from this account. 

However, your money will be protected at all times because of the requirements of FCA rules. We also reserve the right to retain interest earned on this account.

Processing of your Personal Data

In our dealings with you, Mint will comply at all times with all applicable Data Protection Legislation (including, as appropriate, the Data Protection Act 2018, the General Data Protection Regulation, any relevant secondary legislation, and any amendments or replacements to any of these).

Mint may need to collect personal data relating to others in order to arrange and administer your insurance. In most circumstances you will provide us with this information. Where you disclose personal data of others, you must ensure that you are entitled to do so.

Mint implements generally accepted standards of technology and operational security in order to protect personal data from loss, misuse, or unauthorised alteration or destruction.  Mint will notify you promptly in the event of any breach of your personal data which might expose you to serious risk. You have the following rights in respect of your personal data held by us:

(a)    to access any personal data which Mint holds on you. This may be obtained by writing or emailing to our Privacy Officer (details as shown below).  Where permitted under Data Protection Legislation, a nominal charge may apply for providing the information;

(b)    to be provided with information about how your personal data is processed (this information is set out in these Terms of Business);

(c)     to have your personal data corrected where necessary (you should contact us promptly if you become aware of any incorrect or out-of-date information);

(d)    to have your personal data erased in certain circumstances (please refer to the appropriate data protection legislation or consult the Information Commissioner’s Office for information or details);

(e)    to object to or restrict how your personal data is processed;

(f)      to have your personal data transferred to you or to another business.

You also have the right to take any complaints about how we process your personal data to:

a: The Information Commissioner’s Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF
w: https://ico.org.uk/make-a-complaint/
t: 0303 123 1113

For more details, please refer to Mint’s Privacy Policy, which can also be viewed on our website. If you wish to exercise any of your rights [as stated above] or if you have any query in relation to the processing of your Personal Data, please address any correspondence to our Privacy Officer at:

a: The Privacy Officer, James Hallam Ltd,10th Floor, 2 Minster Court, London, EC3R 7BB or
e: privacy@jameshallam.co.uk.

Mint may collect, use, transfer or store your personal data where necessary in order to:

(a)    perform any contract to which you are party or in order to take steps at your request prior to entering into a contract - in particular, Mint will use the information we hold about you, and may disclose some or all of it to other parties, for the purposes of arranging, placing and administering your insurance including the arrangement of insurance premium finance where applicable. These other parties may include the FCA for compliance matters; insurance companies and other agents for underwriting and claims purposes and credit agencies for premium collections identity checks and anti-fraud protection;

(b)    exercise Mint’s legitimate business interests as an independent insurance broker (e.g.  phone calls may be monitored and recorded in the interests of security and staff training);

(c)     carry out other functions with your consent (which you may amend or withdraw at any time by notifying Mint);

(d)    comply with Mint’s legal obligations. 

Mint may in addition use your information for communicating with you about our insurance products and services (and similar products or services provided by us).  Communication with you in this regard may include mail SMS text, telephone or email.  If you do not want Mint to use your information in this way, please notify us promptly in writing or email to that effect.

Mint will never sell your personal data or, except as mentioned above, make it available to any third parties without your prior consent (which you are free to amend or withhold) except where required to do so by law or in the event that we sell any part of our business or assets (in which case we may disclose your personal data confidentially to the prospective buyer as appropriate in accordance with our legitimate interests in that respect).

Notwithstanding the above, all information about you of a sensitive nature (as defined in the Data Protection Legislation) will be treated as strictly private and confidential (even when you are no longer a customer) and Mint will not use or disclose it except either with your explicit consent or where we are required to do so for legal or regulatory purposes and/or permitted to do so by the Data Protection Legislation.

Complaints

It is Mint’s intention to always provide a high level of service.  However, if you have reason to make a complaint about Mint’s service, please address any correspondence to:

a: The Complaints Officer, James Hallam Ltd, 10th Floor, 2 Minster Court, London, EC3R 7BB or
e: complaints@jameshallam.co.uk.

You may be entitled to refer the matter subsequently to the Financial Ombudsman Service (FOS).

You will be able to do this if you are a private individual. Whether you are so entitled will not affect the promptness and fairness with which Mint will strive to resolve any complaints. You can contact the FOS by t: 0800 023 4567 and further information is available at w: www.financial-ombudsman.org.uk. If you do decide to refer any matter to the FOS, your legal rights will not be affected.  (If your complaint cannot be resolved immediately, you may be required to put this in writing for Mint to investigate further).

A copy of Mint’s complaints procedure is available on request.

Rights of Third Parties

Unless otherwise agreed between us in writing, no provision of this Terms of Business is enforceable under the Contracts (Rights of Third Parties) Act 1999 by any person other than you or Mint.

Financial Crime

As an FCA regulated company, Mint works within its regulatory framework designed to prevent financial crime – such as financial sanctions, money laundering, fraud or bribery and corruption.  Mint may need to seek additional information from you to ensure compliance with these obligations.

Mint is required to report to the National Crime Agency and / or Serious Fraud Office any evidence or suspicion of financial crime.

Compensation

Mint is covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if Mint cannot meet our obligations.

This depends on the type of business, the size of your business and the circumstances of the claim. Insurance advising and arranging is covered for:

• 90% of the claim, without any upper limit;

• 100% of the claim without any upper limit for compulsory classes of insurance (such as Third-Party Motor or Employers Liability); and pure protection’ contracts, professional indemnity insurance, and general insurance claims arising from the death or incapacity of the policyholder owing to injury, sickness or infirmity, all where the insurance intermediary has failed to pay money to an insurer, pay away money it has received from an insurer, or has failed to take steps to allow the insurer to effect the contract of insurance.

Further information about compensation scheme arrangements is available from the FSCS on t: 0800 678 1100 or by visiting w: www.fscs.org.uk.

By accepting this Terms of Business document together with your agreement to pay the premium you are deemed to be giving your informed consent for Mint to operate this way.

Consumer TOBA 10.8 (SEPT 23)