Terms of Business

We are WARRANTYWORKS of Warranty House Llandrillo Denbighshire LL210TE, which is an operating division of YBRAIN CYF (LIMITED). We are authorized by the Financial Services Authority,(Registration number 313320) which regulates sales, advisory and service standards to ensure that all insurance customers are treated fairly You can check this information by visiting the Financial Services Authority website or by contacting them on 0845 606 1234. You can also obtain a copy of the Insurance Conduct of Business (ICOB) rules from the Financial Services Authority website or by telephoning them on the above number.

Ownership and status

YBRAIN CYF (Limited) is a private limited company with shareholders.
In arranging insurance for our customers we act as an intermediary, with a tied agency agreement with either an individual insurer or as an agent of another regulated insurance intermediary. Normally, for each insurance product we deal exclusively with a single product provider which we have selected as offering value for money and good service.
Warranty insurance is underwritten 100% by

UK Underwriting Limited on behalf of
AXA Insurance plc
5 Old Broad Street
London
EC2N 1AD

Professional Indemnity Insurance

Professional Indemnity Insurance is mandatory under FSA Regulations. YBRAIN CYF T/A Warrantyworks carries insurance that conforms to these requirements.

Insurance

You will receive a ‘ demands and needs ’ statement which will be provided upon completion of your policy. It is your responsibility to check that it is an accurate reflection of the discussions held.We aim to communicate with you in a manner that is clear, fair and not misleading. If there is anything you do not understand please ask for an explanation. Any alterations or amendment to the insurance contracts received by any means will not become effective until such changes are confirmed in writing to you.

Claims

We have no authority to deal with claims but confirm that Ybrain Cyf (Limited) have delegated authority from the insurer to handle claims under the Warranty Scheme. In regard to claims relating to other policies, we will act as your agent in connection with a claim if you request us to do so, and will act with due care, skill and diligence. If a conflict of interest arises with our acting for you in connection with a claim, we will not put ourselves in a position where our own interest, or our duty to any person for whom we act, conflicts with our duty to you unless we make full disclosure of the facts to you and obtain your prior informed consent to so act for you. We will decline to act for you in connection with a claim, unless, in the particular circumstances of the case, disclosure and informed consent are sufficient to enable us to reconcile the conflict.

Our service standards

We are dedicated to providing you with a high quality service and we want to ensure that we maintain this at all times. If you feel that we have not offered you a first class service please write and tell us and we will do our best to resolve the problem. If you have any questions or concerns about your policy or the handling of a claim you should write in the first instance to the

Quality Manager,
Warrantyworks, Warranty House, Pant Y Llyn
Llandrillo, Denbighshire, LL21 0TE,

Telephone 0800 043 0917

Email: chiefexecutive@warrantyworks.co.uk In the event of dissatisfaction with the level of service provided by us concerning any aspect of your insurance please direct your complaint to the Quality Manager. If a complaint cannot be resolved within one working day we will provide a formal written response within five working days from receipt of the original complaint. If the complaint cannot be resolved within this timescale we will write with an explanation as to the progress and the likely resolution date. In the event that you are dissatisfied with the service provided by the insurer and wish to make a complaint you can do so at any time by referring the matter to

The Head of Claims
UK Underwriting Limited
2 Gibraltar House
Bowcliffe Road
Leeds
LS10 1HB

If it is not possible to reach an agreement, you have the right to make an appeal to the Financial Ombudsman Service. This also applies if you are insured in a business capacity but have a group annual turnover of less than £1million, or are a charity with an annual income of less than £1million, or are a trustee of a trust with a net asset value of less than £1million. You may contact the Financial Ombudsman Service at:

Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London
E14 9SR
Telephone: 0845 080 1800

Compensation from the Financial Services Compensation Scheme (FSCS)

AXA Insurance UK plc is covered by the Financial Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if they are unable to meet their obligations. This depends on the type of business and the circumstances of the claim. Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS or visit www.fscs.org.uk.

Your responsibility

We will carry out our role with due skill, care and attention. So it is important you understand that it's your responsibility to provide complete and accurate information to insurers when you take out your insurance policy, throughout the life of the policy and when you renew your insurance. It is important that you make sure all statements you make on application forms, claim forms and other documents are full and accurate.Failure to disclose facts material to the insurer or any inaccuracies in your answers may invalidate your insurance cover and could mean that part or all of a claim may not be paid. Facts material to the insurance may influence your insurer as to the acceptability or otherwise of your Proposal for insurance. This obligation applies both at the start and throughout the period of all policies. Any changes must be disclosed immediately. You are advised to keep copies of documentation sent to or received from us for your own protection.

Our remuneration

We will receive our remuneration by one or more of these methods:

• A commission payment from the insurer or principal intermediary.

Cancellations

You have a period of 14 days, commencing on the day you receive your policy documentation, in which you can change your mind and contact us for a full refund of premium paid (providing you have not made a claim under the policy during this period). On cancellation of a contract of insurance, outside this 14 day period, an insurance company may apply short-term charges that are not proportionate to the annual premium. We ask you to realize that it is the underwriters and not us that apply such charges on cancellation, in certain circumstances there is no guarantee of any refund of your premium.

Employee remuneration policy

It is a requirement that our employees do not offer, give, solicit or accept an inducement, or direct or refer any actual or potential business in relation to activities to another person on their own initiative or on the instructions of an associate, if it is likely to conflict to a material extent with any duty that the firm owes to its customers.

The treatment of money received from you

Monies you pay to us will normally be treated under risk transfer arrangements and forwarded to the insurer. In exceptional circumstances, where unidentified funds are received, these will be paid into a statutory trust client account in accordance with FSA Rules and will be held in that account until they are paid to insurers in accordance with their payment terms. We will separate all client account money from our own funds. No interest will be paid to you in respect of monies held in the statutory trust client account.

Renewals

If you pay by one of the continuous payment methods, we will notify you in advance of the renewal date of the cost and any changes in cover for the coming year. Unless you have notified us prior to the renewal date, we will collect the premium on the renewal date (or the next working day if the renewal date is not a normal business day). You may contact us up to 14 days after the renewal date should you wish to alter the level of cover or do not wish to renew. We reserve the right to decline to renew the cover without notifying you of the reason.

Data Protection Act and other related disclosure

YBRAIN CYF (Limited) is registered under the Data Protection Act and our registration number is Z9040089. You should note that it is a requirement of the FSA that we retain all documentation for at least 3 years' after completion. All papers and documents we produce in the course of our work for you will remain our property apart from letters and reports sent to you. We reserve the right to destroy correspondence and other papers once we believe they need no longer be retained for legal reasons.

Confidentiality

All personal information about you will be treated as private and confidential, and will only be disclosed to the appropriate insurance companies or regulatory authorities. You have the right to apply for a copy of your information, which we may charge a fee of £10. We will correct any information which is inaccurate.

Governing law jurisdiction

The Courts of England shall have exclusive jurisdiction to settle any disputes (including claims for set-off and counterclaims) which may arise in connection with the validity, effect, interpretation or performance of the legal relationship established by this agreement or otherwise arising in accordance with this agreement. Unless you have confirmed in writing to us prior to the completion of any insurance contract, you will consent to submit irrevocably to the jurisdiction of the English Courts.

Termination

Either party may end the Agreement by giving 7 days notice in writing. The termination of our Agreement shall not affect any provisions which either expressly or by implication survive such termination. This Terms of Business Agreement will apply to all transactions in the future including renewals and it will only be reissued if changes are made. The Terms of Business Agreement sets out the entire Agreement between the client and us in connection with the services provided. Except as expressly stated no person has been authorized to give any representations on behalf of YBRAIN CYF (Limited) as regards the subject matter or Terms of Business Agreement and any representations, which have been or may be given, shall not be relied upon unless confirmed in writing. In the event that any of the Terms of Business are or shall become invalid, illegal of unenforceable, the remainder shall survive unaffected. The current Terms of Business issued shall override any conflicting provisions in any previous copy of the Terms of Business. Your legal rights are not affected by any of the above.