Financial Services Authority (FSA) Regulations

Commercial Risks (UK) Ltd are authorised and regulated by the Financial Services Authority under firm reference number 304286. We are permitted to advise, arrange and administer non-investment insurance mediation contracts on behalf of our customers, and potential customers.

Commercial Risks also employ an outsourced company, Insurance Compliance Services, to oversee our internal procedures thus maintaining a high level of compliance standards.

Our Service

We act as an Independent Intermediary in arranging insurance for our customers. Our services include; giving advice and making recommendations on suitable products to meet your needs, to pay due regard to your demands and needs and communicate information to you in a way which is clear, fair and not misleading, to offer products from a number of selected Underwriters, of which we will provide the details in a durable medium and assist you with any claims, or changes that you wish to make during the period of the policy,

We hold Client Money subject to a statutory trust in accordance with the FSA’s Client Money rules (CASS). The aim of the statutory trust is to protect our clients and brokers in the event of the failure of Commercial Risks, or the failure of the bank or a third party at which the money may be held. In such a circumstance, our general creditors should not be able to make claims on Client Money as it will not form part of this firm’s property. As a further measure of protection, we have signed agreements with some Underwriters whereby premiums are held on behalf, and as agent of, those Underwriters rather than on behalf of our clients.

Our Charges

Our remuneration may be as a fee, or brokerage or a combination of both. Any fees will be advised to you before the purchase of insurance or during the course of the policy before we act on your instructions. Brokerage and fees are earned for the policy period and we reserve the right to retain all such fees and brokerage in full even if the insurance contract is amended, terminated or cancelled for any reason. You are entitled at any time to request information regarding any brokerage which We may earn as a result of placing your business.

Policy Cancellation

Should you wish to cancel a policy you must advise us in writing, and return to us any requested documentation such as the Certificate of Insurance if issued.  Any return premium due will not be processed until we are in receipt of the returned documentation. Policies issued on a Minimum and Deposit basis means no refund will be given for cancellation of the policy and Underwriters shall retain 100% of the premium.  Where we have taken a deposit premium from You which is less than the minimum premium, the balance will be due upon cancellation.

Complaints

At Commercial Risks (UK) Ltd we aim to provide our clients and brokers with the highest level of service. However, but in the unlikely event that you do please contact us in writing or by phone by contacting our Complaints Department. We will acknowledge your complaint promptly, explain how it will be handled, and tell you what you need to do.

A copy of our complaints procedure is available upon request.

For our full Terms and Conditions please click here

Commercial Risks (UK) Ltd
New Loom House
101 Back Church Lane
London, E1 1LU

Telephone: 020 7702 2103
Fax: 020 7488 9792
Email: complaints@commercialrisks.co.uk

Commercial Risks (UK) Limited is registered in England, no. 4452474, and the registered office is Littlejohn LLP, 1 Westferry Circus, Canary Wharf, London, E14 4HD.