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Key Facts About Our Services

Trafalgar Risk Management Limited
68 Lombard Street,
London,
Greater London,
EC3V 9LJ

1.The Financial Services Authority (FSA)

The FSA is the independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide if our services are right for you.

2.Whose products do we offer?

We only offer products from a single insurer in respect of the following policies.

  • For Professional Indemnity insurance we use Trafalgar Insurance Company Limited on some policies and Ironshore Europe DAC on others. The Policy Summary and Policy Wording will tell you who the insurer is.
  • For Medical Malpractice insurance we use CFC Underwriting.
  • For Public Liability and Employers Liability we use Ironshore Europe DAC.
  • For Commercial Professional fees, Legal Expenses and/or Tax & VAT Investigation and/or Inquiry Representation and/or Fitness to Practice cover we use by Markel International Insurance Limited.
3.Which service will we provide you with?

You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

4.What will you have to pay us for our services?

A fee of up to £60 may be charged for arranging the insurance placement. This is on professional indemnity insurance policies and if the fee applies this will be clearly shown in the quote before you purchase. This fee is non-returnable. If a policy is cancelled and the return premium is less than £15 by accepting our terms of business you agree that we need not process that return premium and that we can retain that return premium.

5.Who regulates us?

Trafalgar Risk Management Limited, 68 Lombard Street, London, EC3V 9LJ is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 311662. Our permitted business is insurance mediation. You can check this on the Financial Services Register by visiting the FCA website: www.fca.org.uk or by contacting the FCA on 0845 606 1234.

6.What to do if you have a complaint

If you wish to register a complaint, please contact us:

  • In writing to Trafalgar Risk Management Limited, 68 Lombard Street London, EC3V 9LJ, or
  • By email admin@trafalgar.uk.com, or
  • By phone Telephone 0333 800 0000

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service FOS.

7.Insurers complaints service

Insurers operate their own complaints service. This is set out in the Policy Wording. Insurers who are authorised and regulated by the Financial Services Authority are also subject to the Financial Ombudsman Service as it applies. Trafalgar Insurance Company Limited operates its own complaints system as set out in the Policy. Because it is authorised by the Guernsey Financial Services Commission the Financial Ombudsman Service does not apply.

8.Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Insurance advising and arranging is covered for 90% of the claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS.

9.Insurers and the FSCS

Insurers who are authorised and regulated by the Financial Services Authority are also subject to the Financial Services Compensation Scheme as it applies. Trafalgar Insurance Company Limited is authorised by the Guernsey Financial Services Commission and therefore, the Financial Services Compensation Scheme(FSCS) does not apply.

10.Common shareholders and connections with an Insurer

We are named Trafalgar Risk Management Limited and one of the insurers we deal with is called Trafalgar Insurance Company Limited. It will therefore not come as a surprise to you that the shareholders of Trafalgar Risk Management Limited are the same as the shareholders of Trafalgar Insurance Company Limited. One full-time director is also common to both companies. The two operations are kept totally separate. With Trafalgar Risk Management Limited operating on a day-do-day basis from within the United Kingdom and Trafalgar Insurance Company Limited operating on a day-to-day basis from Guernsey.

11.Acting for some of the Insurers and risk transfer

In certain cases, Insurers give us limited authority to act on their behalf. This is by way of a signed agreement between us and the Insurer or their representative. We may be allowed to accept cover on risks fitting within very specific guidelines; we may be able to accept premiums on behalf of the insurer as if they had been paid direct to the insurer. We may be asked to assist the insurer with documentation and administration. We do not have discretion over what terms the insurers charge, what Policy Wordings they use, or which risks can be accepted and standard terms. You are free to ask us to tell you who these insurers are. You are free to ask us what commission we receive from insurers. Rest assured that we do not act in any way for Trafalgar Insurance Company Limited where there is a common shareholding.

12.Where we hold premium in our client account

Where we hold premium in our client account we do so following FSA rules. Premiums are only held until they are due to be paid to insurers. That can usually be a bulk settlement once a month for premiums received during that month. By using our services you agree that any interest earned on that account can be for our sole benefit.