Insurance Distribution Policy

1.               Introduction

1.1 This Policy reflects Canter Levin & Berg’s commitment to complying with the Insurance Distribution Directive (IDD) in relation to the SRA Financial Services (Scope) Rules and the SRA Financial Services (Conduct of Business) Rules.

2. Purpose and Control

2.1 In relation to the IDD the firm’s policy is as follows:

2.1.1 We are authorised and regulated by the SRA (limited to those activities not prohibited by the above rules).

2.1.2 We are an insurance intermediary as opposed to an insurance company/provider and so we are not able to design insurance products.

2.1.3 On occasion we may need to advise that an insurance policy is taken out by a client. If so, we will recommend an insurance company/provider (or possibly a specialist broker for further advice). We have no referral agreements or financial links with any insurance company or broker whereby we would receive a commission or other such fee for placing business with them. Moreover, we are not tied to any insurance company or broker and will recommend whichever one we believe is the most suitable.

2.1.4 We will only act on behalf of our clients in relation to IDD and not the insurance provider.

2.1.5 Any insurance needed for a particular client in order for a matter to be progressed will be assessed by the fee earner on a case-by-case basis. The demands and needs of the client will be paramount i.e. as to what is in their best interests and complete freedom of choice. Such advice will be confirmed by us in writing utilising the form attached at Appendix 1. If this form is not utilised, then the advice will still be confirmed in writing before the relevant policy is taken out.

2.1.6 When the appropriate insurance product is provided it will only be put into effect and the contract concluded if the insurer has supplied an Insurance Product Information Document (IPID).

2.1.7 We will where necessary explain the information in the IPID to our client.

2.1.8 The firm will ensure that its Professional Indemnity Insurance provides cover in relation to all work undertaken in connection with IDD.

2.1.9 The firm’s Insurance Distribution Officer (IDO) is Martin Malone.

2.1.10 The IDO will carry out training of all relevant fee earners and support staff on a regular basis, and at least annually, to ensure compliance with the IDD.

2.1.11 The IDO will retain a central record as to which departments need to recommend insurance products, why and also the details of such providers who may be used by each department from time to time. It will be updated regularly and at least annually.

APPENDIX A

INSURANCE DEMANDS AND NEEDS FORM

We are authorised and regulated by the SRA in relation to relevant insurance products. However, we are an insurance intermediary rather than an insurance company/provider.

This form is to set out why you need insurance and to confirm our advice in relation to the product proposed and the basic details of it.

 

  1. Demands and Needs

You need insurance in relation to this matter because:

 

 

 

  1. We recommend it is provided by:

 

 

  1. The cost will be:

 

 

If the cost cannot be specified at this stage, then the method of calculation is as follows

 

 

  1. The nature of cover and term of the policy will be:

 

 

 

If you wish us to activate this policy for you then please confirm either by return of email or signing the duplicate of this document and returning it to us in the self-addressed envelope provided.

The insurance company concerned will provide an insurance product information document which we will forward to you before the contract is concluded. We will explain any details in it upon request. We will need you to contact us by email or in writing to confirm you wish to have us put the policy in force.

This document is issued in accordance with the firm’s Insurance Distribution Policy which can be accessed on our website (or a hard copy will be forwarded upon request).