About Us

KPTI Ltd t/a IS Insurance Solutions, is registered in England & Wales under no. 3944038
We are Independent Insurance Intermediaries authorised and regulated by the Financial Services Authority (FSA) under register number 310450. These details can be checked on www.fsa.gov.uk/register or by calling 08456061234.

Our Service

We offer a wide range of insurance products and have access to leading insurers in the marketplace. For some types of insurance we deal predominantly with a single or limited number of insurers, which we have selected as offering value for money and quality service.
We advice Personal and Commercial Clients on their General Insurance requirements, arrange cover with Insurers (which includes day to day servicing) and provide assistance and advice in connection with claims.

Our Status

The FSA’s rules require us to inform you whether the information and/or advise we give you about insurance are on the basis of:

• A “fair analysis” of the market or, in other words, on the basis of an evaluation of a sufficiently large number of contracts available in the relevant sector of the insurance market to enable us to give advise or provide information to you on your insurances, which is adequate to meet your needs; or
• An evaluation of a limited number of insurers; or
• The terms offered by a single insurer.

We shall generally give you information and advise on the basis of a fair analysis of the market.
If in any case we give information and/or advise, which is not based on a fair analysis, we will tell you and you can request a copy of the list of insurers from whom we have selected the terms proposed. In certain cases, insurers authorise us to underwrite on their behalf within agreed guidelines. Accordingly, in placing your insurances, we may act as agent for insurers as well as for you.
This will not prevent from advising you independently on the insurance policy and insurer most appropriate to your requirements.

Client Money

Client money is money of any currency that we receive and hold in the course of carrying out our activities as insurance intermediaries on behalf of customers, including you, or which we will treat as client money in accordance with the FSA’s rules.

Under the client money rules we are required to keep client money separate from our own money. We normally do this by paying money into a client bank account. However, we may also do this by arranging to hold separately permitted designated investments with a value at least equivalent to the money that would otherwise have been paid into a client bank account. If we do this we will be responsible for meeting any shortfall in our client money resource, which is attributable to falls in the market value of a segregated investment.

We will hold client money subject to a non-statutory trust. This means that in certain circumstances premiums due from a customer will be paid to insurers out of the bank account in which we hold them before they have been received from the customer. In addition refunds of premiums maybe paid to a customer before the premium refund has been received from insurers. We are not, however, entitled to use client money to pay commissions before we receive the relevant premium from the customer. Unless you give instructions to the contrary, we will treat the payment of premiums by you to us as signifying your consent to the payment of those premiums, and of any refunds in premium which fall due to you, into an account which is subject to a trust permitting us to engage in the funding activities referred to above. Any interest earned on client money held by us and any investment returns on any segregated designated investments will be retained by us rather than paid to you. We may transfer client money to another person, such as another broker for the purpose of effecting a transaction on your behalf through that person.

Charges/Fees

We apply administration charges and or charge arrangement fees.
Arrangement Fee
In the case of some insurances we may charge an arrangement fee and will advice you of the actual amount at the time of quotation, renewal or adjustment. Fees are usually but not exclusively charged In the event of a significant or complex insurance and or where we have agreed to rebate a fixed percentage of our commission and feel that our firm is entitled to a minimum retention of fee for the insurance.
Administration Charges
  Motor Insurance: £10.00 - £30.00
  House Insurance: £15.00 - £50.00
  Travel Insurance: £5.00 - £10.00
  Residential Lets: £20.00 - £50.00
  Commercial Ins: £30.00 - £50.00
  Mid Term Charge: £10.00 - £50.00
  Credit Arrangements: £25.00 - £50.00
  Credit Card Payments: 2.5% min £5.00
  Unpaid Cheques: £25.00
These charges may be subject to change. Where there are changes, we will confirm this clearly and in any event the actual amount will always be disclosed to you before you commit to purchasing the product.

In the event of a significant or complex claim we may elect to charge an additional fee for our services. Such charges will only be levied with your prior agreement.

In the event of default or financial failure on your part, additional charges may be levied where additional work is required by us.

Refunds

Where a policy is cancelled before renewal, insurers charge to cover their costs, with the balance refunded to you, subject to no claim having been made. Full details will be available in your policy. In the event of an adjustment giving rise to a return of premium the amount may be refunded or held to credit.
Your attention is specifically drawn to the following:
When you cancel your policy after the expiry of the cooling off period or where you request a mid-term adjustment which reduces the cover provided under the policy, we reserve the right to charge you for our time and costs. This will usually result in us reducing the amount refunded to you by the FULL amount of the commission, administration charge and or arrangement fees we would have received had you not cancelled. The reason for this is that the majority of our costs are incurred either in initially finding and setting up your policy or in the annual renewal process when we might check the ongoing suitability of the cover the policy offers. These costs are recovered through the commission we earn. If you cancel, this does not give us an opportunity to recover the costs we incurred and would often result in us making a loss. However, any charge made will not exceed the cost of the commission and fees we would have earned. Certain commercial insurance policies do not contain a cancellation clause. This means that no refund will be paid if the policy is cancelled before renewal.
In the event of default or financial failure on your part, all remuneration, howsoever earned will be retained by us.
In view of the cost involved in making changes to your policy, we will not issue refunds of less than £5.

Terms of Payment

Our payment terms are as follows (unless specifically agreed by us in writing to the contrary):
New Business and Additional Premiums within 7 days of advising you.
Renewals payment no later than the renewal date.

For late payments we will charge £25.00 for every reminder sent.

Failure to pay the premium to our firm may result in us giving you notice of cancellation of cover and instructing the Insurer accordingly. You will then be liable to pay us any premium due for the period you have been on cover, any fees or administrative charges and the annual commission we would have earned for that insurance.

Your Obligations

Your obligations are as follows:

We will accept your instruction to incept, amend or renew the policy verbally and or in writing, you will then be liable to pay our firm any premium, charges and fees due.

When instructing us to place or to renew insurances on your behalf, to disclose any material facts; that is, any facts known to you (or ought to be known to you) likely to influence an insurers decision whether or not to accept the risk and on what terms and at what premium to accept the risk.

To disclose any material facts arising whilst your insurances are in force, whenever you wish to renew your policy, or to effect any mid term changes to your policy.

All answers or statements given on a proposal form, claim form, or other document relevant to your insurances will be your responsibility and you should always check the accuracy of the information you provide to us
and/or your insurers.

Failure to disclose, or misrepresentations of, material facts entitles insurers to decline claims and may lead to your policy being completely invalidated.

You should seek our advice if you are in any doubt as to whether any facts might be material.

To pay premiums within the period stipulated on documents we send you.

Failure to pay premiums by the date specified may lead to insurers cancelling your insurances and failure to pay premiums in accordance with a premium payment warranty or premium payment condition can result in automatic termination of your insurances.

We reserve the right to retain any policies until all payments due under those policies have been made and any cheques cleared through our bank account.

To advise us without delay of any claim or circumstances likely to give rise to a claim under your insurances.

Delay in notifying a claim may entitle insurers to decline a claim.

Claim payments will ordinarily be made to you (unless payment is made to a third party with an interest in your policy). If you require a payment to be made to a third party then you must confirm the requested payee’s name and details and provide a brief explanation for your request.

You should also:

When instructing us to place or renew your insurances on your behalf, advise us if the statement of your demands and needs, which we will provide to you before or shortly after the insurance contract is concluded, is incorrect or if there has been any change to statements of demands and needs given in respect of prior insurances.

Review any policy or other confirmation of cover we send and advise us immediately if you consider

that it does not reflect your demands and needs.

Review the insurers with whom your insurances have been placed and advise us immediately if you object to them participating in your insurances.

Act as if uninsured and take all prudent and reasonable steps both to prevent injury or damage of the type covered by the insurances and also take all such actions after the event as are sensible to minimise its loss.

Retain any insurance policies in a safe place.

Solvency Of Insurers
We cannot guarantee the solvency of any insurer with which we place business. This means that you may still be liable for any premium due and not be able to recover the premium paid, whether in full or in part, should an insurer become insolvent.

Confidentiality And Your Personal Data
We will treat all of the information you provide us as private and confidential to us and anyone else involved in providing your insurances (including loss adjusters and claims handlers appointed by insurers). We will not give anyone else any information about you, except:

• When, you ask us to or give us permission.
• If we have to because we are regulated by the FSA.
• If we have to by law.

Money Laundering / Proceeds of Crime Act
We may ask for evidence of your identity at the start of our business relationship.
In absence of such evidence, we may be unable to act for you. In accordance with obligations under the Proceeds Of Crime Act 2002 and any anti-money laundering legislation, where knowledge or suspicion of money laundering arises, we may pass certain information known to, or suspected by, us to the appropriate authorities. This may result in a delay to a transaction and/or a decision that we will cease acting for you.

Complaints
If you have a complaint about our services, you should in the first instance contact the member of our staff with whom you dealt with. You can make your complaint either orally or in writing. We will acknowledge your complaint in writing within 5 business days and tell you who will be dealing with your complaint and when you can expect to receive a response and will enclose a copy of our complaints procedure.

We can be contacted in writing at:

KPTI Ltd T/a IS Insurance Solutions, 235/241 Kingsbury Road, Kingsbury, London, NW9 8UG.
By Telephone: 020 8205 3000.

If you cannot settle your complaint with us, and you are an individual, or the annual turnover of your group’s business is less than £1 million, or in certain other limited circumstances you may with effect from 14th January 2005 be entitled to refer it to the Financial Ombudsman Service, if your complaint relates to matters arising on or after that date.
The service may be contacted by telephone on 0845 080 1800
or their web site
www.financial-ombudsman.org.uk

Our Contact Details

Our office location details are as follows:

KPTI Ltd T/a IS Insurance Solutions

235/241 Kingsbury Road
Kingsbury
London
NW9 8UE.

Tel No - 020 8205 3000
Fax No - 020 8205 3636
Email – info@ins-solutions.co.uk