TERMS OF BUSINESS (TOB)
Who We Are and Who Regulates Us
This website accessed via nonroaduse.bemoto.uk is operated under licence and any BeMoto branded products are arranged and administered by Edge Brokers (London) Limited (“EBLL” or “we” “us” “our”).
BeMoto introduces potential customers to EBLL for the purpose of arranging and administering BeMoto branded non-road insurance products. We share quote and policy data with BeMoto for analysis and marketing of other BeMoto products and services (unless you tell us not to).
Edge Brokers (London) Limited is incorporated and registered in England and Wales with company number 03721499 and FCA registration number 610898. Registered office: Minster House, 42 Mincing Lane, London EC3R 7AE.
BeMoto is a trading name of Moto Broking Limited registered in England and Wales, company Number 09676058. Registered office: Ruthlyn House, 90 Lincoln Road, PE1 2SP. Moto Broking Limited is authorised and regulated by the Financial Conduct Authority (FCA registration number 715903).
EBLL is a privately owned insurance intermediary. We will advise you of any conflict of interest that we may have with any proposed insurer or of any special arrangement with them, which is beyond our normal remuneration.
In order to avoid repetition of words used in this document, the term "insurance" includes reinsurance and other risk transfer products. The term "Underwriter(s)" includes any insurer, re-insurer or other category or risk bearer, as appropriate to your requirements.
Upon completion of the insurance arrangement(s) on your behalf, we will automatically provide you with your Confirmation of Cover. Depending on the product you have purchased, this will either be emailed to the address you have provided or uploaded to your BeMoto online portal. You should check this document and satisfy yourself that it is entirely in accordance with your understanding, demands and needs. Anything at variance with your understanding and instructions should be advised to us immediately.
Methods of Payment
All our insurance products are available subject to payment of premium. This can be done securely on-line using a Debit or Credit card. We accept the most common used cards but NOT American Express. For credit cards there is a 2.5% charge, but debit cards are completely FREE. Our Confirmation of Cover documentation will detail the amount taken from your card and the 2.5% charge will be itemised also where a credit card has been used for payment.
How We Handle Client Money
Our client bank accounts with Barclays have been set up in accordance with the strict rules laid down by the FCA. All client money is kept separate from our money. We may use the services of other intermediaries who are regulated by the FCA and your premium may be passed to these intermediaries for payment to insurers. We will retain any interest or exchange gains derived from holding your money.
Details of claims notifiable to the Underwriter(s) under the terms of the arranged insurance contract must be advised to us without any delay on-line. Where applicable we will provide you with written confirmation of the acceptance of the amount of the claim by the Underwriter(s) before issuing a claim payment to you and remitting monies direct to the appropriate party. You should be aware that we may perform a limited service for the Underwriter(s) in relation to insurers claims advisors (e.g. Surveyors, Adjusters and Lawyers) by relaying instructions; disseminating reports and collecting fees or other disbursements, where we consider this should not create a conflict of interest. If we consider a conflict of interest may arise, we will refrain from performing any (further) service for the Underwriter(s) unless otherwise agreed.
Confidentiality & Security of Information
Other than BeMoto, any information which you provide to us will not be used or disclosed by us to other parties except in the normal course of negotiating, maintaining or renewing a contract of insurance on your behalf, or for handling any claims thereunder, unless we have obtained the necessary consent from you or we are required to disclose the information by a court of competent jurisdiction or government or regulatory body having the requisite authority over us, or the information is already in the public domain or has been received by us from a third party not under any duty of confidentiality. We will take appropriate steps to maintain the security of your confidential documents and information which are in our possession.
Solvency of Underwriters
We will only place insurance with Underwriters who are supported by the general London Insurance Market. While the information on which EBLL relies is obtained from sources considered to be reliable and it uses all reasonable endeavours to review accurately that information in order to protect the interests of our clients, predictability of solvency cannot be guaranteed. The financial standing of any Underwriter(s) can, of course, change after the insurance contract has incepted. The subscribing insurers' obligations under this policy are several and not joint and are limited solely to the extent of their individual subscriptions. A subscribing insurer is not responsible for the subscription of any co-subscribing insurer who for any reason does not satisfy all or part of its obligations.
Under the Consumer Insurance (Disclosure and Representations) Act 2012, if you do not provide complete and accurate answers to questions asked by us, we or the insurer may cancel your policy or the insurer may void your policy and the insurer may impose an additional premium along with additional policy terms. This may result in the insurer rejecting or only paying in part claims you make. We may also charge an administration fee to make any changes.
Please make sure that you read your documents thoroughly and ensure that any information that you have provided to us is accurate, true and correct. The details you have provided to us are shown in your Schedule.
If any of the information shown on your documents is not accurate then please call us immediately.
Our Fees, Remuneration & Other Income
Our two principal methods of remuneration for insurance intermediary services are by way of brokerage, being a proportion of the premium paid which is allowed to us by Underwriter(s), and/or an agreed fee basis. Other sources of income include that derived from interest earned on bank balances or certain credit charges and expense allowances by Underwriters for managing and administering certain lineslips, covers, binding authorities and other similar facilities, including claims which may arise thereunder, all of which we believe enable more efficient service and competitive terms to be provided to those clients for whom we consider the use of such facilities appropriate. The Underwriter(s) with whom we effect insurance on your behalf may, on occasions, in turn request us to purchase facultative reinsurance for their account. This reinsurance is a separate and distinct contract(s) for which remuneration may be paid separately by the Underwriter(s) or reinsurer(s). Some Underwriters may allow us incentive commissions in addition to fees or brokerage which we receive. Such incentive commissions can be based on profitability, premium income volume and/or growth. Incentive commissions can also be payable to reflect administrative efficiencies across a portfolio of business placed with an Underwriter. Notwithstanding efficiencies of incentive commissions, we recognise that our overriding responsibility is to promote the best interest of the policyholder in the selection of Underwriters.
Our fees (all fees are non-refundable):
Admin Fee of up to £40 for each policy
Cancellation Fee in the cooling-off period: £20
Cancellation Fee after the cooling-off period: £20
Mid term amendments: £0 (subject to ‘Fair Use’ Policy below)
Credit Card Fees: 2.5% of any total purchase (debit Cards are FREE)
Provide a copy of the information we hold about you: £10
BeMoto products do not have an amendment fee, however there is a ‘Fair Use’ Policy for mid-term amendments to ensure we provide a sustainable service that is fair for all our customers. We may notify you at our discretion that any future amendments will be subject to a fee. The fee will never be more than our cancellation fee.
With Track Day policies there is a separate level of fees for changes to Dates / Circuits.
Date Change: £16.95
Circuit Change: £16.95
It is always our intention to provide a high standard of service at all times. If you should wish to make a complaint, we will do our best to ensure that it is handled fairly and promptly by a senior and independent member of staff. We operate a formal complaints procedure which complies with the Financial Conduct Authority requirements which we will send to you upon request.
Please address your complaint to the Compliance Officer at Edge Brokers (London) Limited, Minster House, 42 Mincing Lane, London EC3R 7AE T: 020 7459 9200 F: 020 7459 9300 E: email@example.com in writing. If we are unable to address your complaint to your satisfaction, you may be entitled to refer it to the Financial Ombudsman Service, Exchange Tower, London E14 9SR
+44(0)300 123 9123 for calls from outside the United Kingdom or
+44(0)7964 1000 from a mobile
Financial Services Compensation Scheme (FSCS)
We are covered by the FSCS. You may be entitled to compensation under the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
Full details and further information on the scheme are available from the Financial Services Compensation Scheme, 10th Floor, Beaufort House, 15 St Botolph Street, London, EC3A 7QU or telephone 0800 678 1100 or 0207 7741 4100.
We are registered under the Data Protection Act 1998 and we have undertaken to comply with the Act in all our dealings with any client's personal data.
Law & Jurisdiction
These terms of business shall be governed by and construed in accordance with English law.
We recognise that communicating by e-mail is a convenient method of conducting business. However, if you choose to communicate with us by e-mail, you accept that there is no certainty of all completeness, accuracy, confidentiality or even the receipt of a message or data file sent by e-mail. Email users should use their best endeavours to ensure that they do not transmit harmful viruses to other parties and it is your responsibility to maintain appropriate virus protection software on your computer.