About our Insurance Services
The Financial Services Authority (FSA)
The FSA is the independent watchdog that regulates financial
services. Use this information to decide if our services
are right for you.
Whose products do we offer?
We only offer products from a single Insurer, Royal & Sun
Alliance Insurance plc via Saturn (a trading name of
Martello Professional Risks Ltd, a wholly owned subsidiary
of Royal & Sun Alliance Insurance plc).
Which service will we provide you with?
You will not receive advice or a recommendation from
us for Professional Indemnity, Public Liability, Employers
Liability and Equipment Insurance. We may provide you
with our observations of how other members of PCG have
approached the insurance issues surrounding their policies.
Statement of Demands and Needs
Your premium and insurance cover will be based on the
details you have provided on the Proposal Form and any
other related information. These products are designed
to meet the demands and needs of those who wish to insure
their business for Professional Indemnity/Public Liability/Employers
Liability and Equipment Insurance. The information you
have provided and on which the premium is based provides
us with a record of the demands and needs particular
to your specific circumstances.
What will you have to pay us for our services?
We will not charge any form of fee for our services.
We receive commission which is included in the Premium
quoted to you. Commission rates are available on request.
Who regulates us?
Randell Dorling Limited, 52 Lime Street, London EC3M
7NP, is authorised and regulated by the Financial Services
Authority. Our FSA Register number is 311940.
Our permitted business is to sell and administer general
insurance.
You can check this on the FSA's Register by visiting
the FSA's website http://www.fsa.go.uk/register/ or
by contacting the FSA on 0845 606 1234.
What to do if you have a complaint
Randell Dorling Ltd strives to provide the highest possible
standard of customer service. However should you feel
that our service has fallen below the level; expected
and you wish to register a complaint, please contact
us:
The Compliance Manager
Randell Dorling Limited
52 Lime Street
London
EC3M 7NP
Tel: 020 7929 5454
Fax: 020 7929 4626
Email: info@randelldorling.co.uk
Please quote your policy number in all correspondence.
If we are unable to resolve your complaint, you may
be entitled to refer it to the Financial Ombudsman Service.
Are we covered by the Financial Services Compensation
Scheme (FSCS)?
We are covered by 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 such as Employers
Liability insurance, advising and arranging is covered
for 100% of the claim, without any upper limit.
POLICY SUMMARY
This information is being sent to assist you in determining
whether Randell Dorling Limited is the correct vehicle
via which you should purchase your insurance.
Some important facts about your Randell Dorling Limited
combined insurance product, which has been specifically
designed for members of PCG are summarised below. One other optional
cover is available which is in essence a business equipment
insurance. If you would like a quotation for something
that is not included above, you can call us and we will
direct you to the appropriate market or broker, including
but not limited to Blackmore Borley Limited, our parent
company.
This summary does not describe all the terms and conditions
of your policy, so please take time to read the policy
document to make sure you understand the cover it provides.
The policy Terms are available on the Randell Dorling
website, and are adjusted individually by virtue of the
issue of a Policy Schedule and Endorsements if applicable,
in conjunction with which these should be read.
Period of Insurance
Your cover is valid for 12 months unless otherwise agreed
and is renewable annually.
About your Professional Indemnity (PI) Insurance cover
Your PI policy is a legal liability insurance that provides
cover for claims made against you by a third party arising
from a negligent act, error or omission by you occurring
in the course of your business and which results in the
third party suffering (and being able to demonstrate)
a financial loss.
In addition to the basic cover, your policy also provides
many other features and benefits. Please refer to the
policy wording for full details of these.
The maximum payable in respect of any claim is the amount
chosen by you and shown as the 'Limit of Indemnity' in
the policy schedule. Costs incurred in the defence or
investigation of the claim are inclusive within this
figure.
PI is different to most other insurances in that it
operates on what is known as a 'claims made basis',
meaning that the policy will only provide cover for claims
or circumstances discovered and notified to the Insurer
during the period of insurance, rather than errors or
mistakes occurring during the period of insurance.
As with all insurance policies, certain exclusions apply
and you should consult the policy wording for the full
list. However, some of the more significant exclusions
include:
- Death, bodily injury or disease sustained by
any person, or damage to their property, unless arising
from negligent advice (this is covered by either Employers or Public
Liability Insurance).
- The self-insured Excess which is inclusive of costs
incurred in the defence or investigation of the claim.
- Asbestos
- Claims or circumstances arising from work carried out
prior to the retroactive date.
- Claim or Claims arising out of USA or Canada contract
jurisdiction.
NB This does not mean that you cannot
work for a US or Canadian company, simply that your contract
should be written under the laws of an EU Country (preferably
UK).
Additional covers – your Quotation or
Policy Schedule will show which are included
Employers Liability (EL) Insurance
Your EL policy is a legal liability insurance that provides
cover for claims against you by, or on behalf of, an
employee who is killed, injured or contracts a disease
whilst undertaking work for you during the course of
their employment.
The maximum payable (Limit of Indemnity) in respect
of any one accident or event is £10m, which includes
costs incurred in the defence or investigation of the
claim.
As stated above, all insurance policies contain certain
exclusions and you should consult the policy wording
for the full list. However, some of the more significant
exclusions include:
- Death, bodily injury or disease sustained
by any person other than an employee (this is covered
by
a Public Liability Insurance)
- Damage to third party property (this is covered by a
Public Liability Insurance)
Public Liability (PL) Insurance (including limited Products
Liability)
Your PL policy is a legal liability insurance that provides
cover for claims against you by, or on behalf of, any
party who is killed, injured or contracts a disease (except
for an employee), or whose property you damage as a result
of your business activities.
It also incorporates a limited Products Liability cover,
see the full documentation on the Randell Dorling website
for details.
The maximum payable in respect of any one claim is the
amount chosen by you and shown as the 'Limit of
Indemnity' in the policy schedule. Unless othersie
stated, costs incurred in the defence or investigation
of the claim will be paid in addition to this figure.
Claims for Products Liability and for Pollution are
subject to an annual aggregate Limit of Indemnity.
As previously stated, all insurance policies contain
certain exclusions and you should consult the policy
wording for the full list. However, some of the more
significant exclusions include:
- Death, bodily injury or disease sustained
by an employee whilst in the course of their employment
(this is covered by an Employers Liability Insurance)
-
Pollution (although some cover is provided arising
from 'sudden and unexpected' incidents)
- Professional advice provided for a fee (this is covered
by a Professional Indemnity Insurance)
- The Excess
- Asbestos
Difference between Claims Made (PI) and Occurrence based
(EL/PL)
The difference between Claims Made and Occurrence based
Policies can be summarised as follows:
A Claims Made Policy is one that responds to a Claim
made whilst that Policy is open, regardless of when the
event which gave rise to the claim happened, provided
that the event occurred after any retro-active date of
inception within the Policy which has not been or should
have been reported to an Insurer.
An Occurrence based Policy only responds if the Policy
was in existence at the time that the event giving rise
to the Claim took place.
Examples
are provided on our website.
Equipment Insurance
This Combined Policy also offers the opportunity to
cover certain items of business equipment and business
related software, full details are contained within the
Application Forms available on the website.
Law applicable to the contract
You and the insurer are free to choose the law applicable
to this contract but in the absence of agreement to the
contrary, English law will apply.
Flexible Payment Options
You may be able to pay your premium, including tax,
by monthly instalments using the associated premium credit
facility. Please ask us about the procedure if this is
of interest to you.
Randell Dorling receives no commission from the finance
provider.
Change in Circumstances
Please let Randell Dorling Limited know, if your circumstances
change at any time i.e. new address, change in partners
or directors or new line of business activity.
Preventing Claims Occurring
As a professional we do not presume to tell you how
to run your business. However many claims arise through
misunderstandings which may be difficult to disprove
without evidence. Please ensure wherever possible that
all contracts and instructions are confirmed in writing.
Written records of meetings and telephone conversations
should also all be retained on file.
Claims Procedure
In the event of any criticism by your client, or if
you become aware of circumstances which could give rise
to a claim against you, it is essential that you follow
the
procedure outlined in our website.
Once we have been notified of a possible claim we will
assist you in providing guidance on how best to conduct
future dealings with the client.
Do not discuss or admit liability. Any correspondence
should be passed as per the instructions on our website,
as soon as possible. Correspondence from the plaintiff
should remain unanswered beyond a simple acknowledgement
of receipt.
If you are involved in the Construction Industry please
note the special conditions in the policy relating to
prompt notification of circumstances relating to Adjudication
under the Housing Grants and Construction Act.
Cancellation Rights
We would remind you that PCG originally negotiated policies
that were issued on a 12 month non-cancellable basis.
The consideration was that, by virtue of this guarantee,
the original premium was deemed earned at inception.
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