Terms of Business

MD Insurance Services Limited, Haymarket Court, Hinson Street, Birkenhead, Wirral CH41 5BX. Telephone 0845 054 0505 Fax 0845 054 0501

The Financial Services Authority
MD Insurance Services Limited is the Scheme Administrator for the LABC New Home Warranty.

MD Insurance Services Limited is authorised and regulated by the Financial Services Authority (FSA). Our FSA Register number is 306947.

Our permitted business is arranging, dealing as agent and assisting in the administration and performance of general insurance contracts. You may check this on the FSA’s register by visiting the FSA’s website, www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

Our Service
We specialise in latent defects insurance and act as an underwriting agency on behalf of one Underwriter, Lloyd’s Syndicate 4472 (Liberty Syndicates). As such we do not offer advice to applicants.

We will not in any circumstances act as an Underwriter nor guarantee or warrant the solvency of any Underwriter.

Complaints and Compensation
We aim to provide you with a high level of customer service at all times, but if you are not satisfied, contact us in writing, by telephone or via the Contact Us page of this website.

Write to
The Complaints Officer
MD Insurance Services Limited
Haymarket Court
Hinson Street
Birkenhead
Wirral
CH41 5BX

or
Telephone 0845 054 0505

If you are still not satisfied, you may refer the matter to the Financial Ombudsman Service (except in the case of commercial customers with a group annual turnover of £1m or more, or trustees with a net asset value of £1m or more).

We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of insurance, size of the business (if a commercial customer) and the circumstances of the claim. Further information about compensation scheme arrangements is available from the FSCS.

Payment for our services
We receive commission from the Underwriter and do not make additional charges for handling your insurances.

If you are taking out the insurance you will receive a quotation which will tell you the total price to be paid, showing any site audit fees, taxes and charges separately from the premium, before your insurance arrangements are concluded. Full payment of premium and fees is due before cover commences, or as otherwise stated under terms of credit, or in the debit note, invoice or statement issued to you.

Handling Client Money and/or Underwriter Money
We collect and hold money as agent of the Underwriter

Cancellation of Insurances
You should make any request for the cancellation of a policy in writing and any relevant Certificate of Insurance should be returned to us or to the Underwriter concerned. In the event of cancellation, charges for our services will apply in accordance with the table below:

- Cancellation prior to material damage cover commencing. As construction contracts can be of varying duration and there is always a site audit our fees will vary depending on the stage at which notice of cancellation is given.
- Cancellation after material damage cover has commenced.

If you have not completed a proposal form and paid the premium you will not be entitled to a refund of premium or any other monies.

Conflict of interests
Occasions can arise where we or one of our associated companies, clients or product providers will have a potential conflict of interest with business being transacted for you. If this happens and we become aware that a potential conflict exists, we will write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment.

Termination of authority
You may terminate our authority to act on your behalf with 14 days notice or as otherwise agreed without penalty. Notice of this termination must be given in writing and will take effect from the date of receipt. Termination is without prejudice to any transactions already initiated which will be completed according to these terms of business unless otherwise agreed in writing. You will be liable to pay for any transactions or adjustments effective prior to termination and we will be entitled to retain any and all fees or brokerage payable in relation to policies placed by us prior to the date of termination.

Your responsibilities
You are responsible for providing the complete and accurate information, which the Underwriter requires in connection with any proposal for insurance cover. This is particularly important before taking out a policy but it also applies throughout the life of a policy. If you fail to disclose any material fact or other information material to the insurance this could invalidate the policy and mean that claims may not be paid. You should check all details on any proposal form or statement of facts and pay particular attention to any declaration you may be asked to sign.

You should read all insurance documents issued to you and ensure that you are aware of the cover, limits and other terms that apply. Particular attention should be paid to any warranties and conditions as failure to comply with them could invalidate your policy.

You should take note of the required procedures in the event of a claim, which will be stated in the policy documentation. Generally, Underwriters require immediate notification of a claim or circumstances that might lead to a claim.

You should inform us immediately of any changes in circumstances that may affect the services provided by us or the cover provided by your policy.

If you are unsure about any matter, please contact us for guidance.

Confidentiality of personal data
All personal information is treated by us as confidential and is processed in accordance with the relevant legislation. We will not use or disclose personal information without your consent, other than in the normal course of arranging and administering your insurances, except where we are compelled by law (including by regulators or law enforcement agencies) to disclose such information. In such instances personal information held by us may be disclosed on a confidential basis, and in accordance with the Data Protection Act 1998, to such third parties.

Claims handling arrangements
We act on behalf of the Underwriter in negotiating and settling claims. We will handle all claims fairly and promptly.