Last updated 01/03/2024

For your own benefit and protection, you should read these terms carefully. If you are unsure about any aspect of our terms of business, or have any questions regarding our relationship with you, please contact us on hello@cybercover.uk

Who We are

Cyber Cover Ltd is a company registered in England under No 10982021 with a principal place of business: Level 30, The Leadenhall Building, 122 Leadenhall Street, London. EC3V 4AB.

Accepting our terms of business

By asking us to quote for, arrange or handle your insurance, you are agreeing to these terms of business. We advise paying particular attention to:

• The section headed ‘How we use your data’
• The section headed ‘Handling your money’

The Financial Conduct Authority

Cyber Cover Ltd is an Appointed Representative[AR]  of Duncan Clark (Insurance Brokers) Ltd, a company authorised and regulated by the Financial Conduct Authority under firm reference number 304742.

Our permitted business is introducing, advising, arranging, dealing as agents and assisting in the administration and performance of general insurance contracts for non-investment insurance.

You can check this on the FCA’s register by visiting the FCA website, https://www.fca.org.uk or by contacting the FCA on 0300 500 0597.

Our services

Our services include: arranging your cover and helping you with any policy changes you, we or the insurer make. As part of our service, we’ll also help you with any claim. Sometimes we will only offer products from a single insurer but we’ll let you know who this is.

We act as your agent when placing your insurance and when you make a claim. We act as the insurer’s agent when we collect your premium and we’ll let you know if there are other situations where we are acting on behalf of the insurer.

Handling your money

Our financial arrangements with most insurance companies are on a ‘risk transfer’ basis. This means we act as agents of the insurer in collecting premiums and handling refunds. In these circumstances, money is deemed to be held by the insurer(s) arranging your policy. However, if risk transfer does not apply, we’ll hold that money in a statutory trust account set up in accordance with FCA rules. We’ll retain interest earned on money in a statutory trust account.

For the purpose of some transactions, client money may pass through other authorised intermediaries before the insurer receives it.

Applications for credit

Any application for credit will be passed to the insurer or to a finance provider. In assessing your application they’ll search the public information that a credit reference agency holds about you. The credit reference agency will add details of the search and your application to their record about you, whether or not your application proceeds.

This and other information about you may be used to make credit decisions and undertake checks for the prevention and detection of money laundering.

Cancelling your insurance

Policy cancellation requests should be made in writing, and with 30 days’ notice. The terms of your policy may allow the insurer to retain the premium in full or to charge short-period premiums if the policy’s cancelled before it expires.

We do not refund fees we may have charged you to handle your insurance.

Payment for our services

We normally receive commission from insurers or product providers for arranging insurance with them - you don’t pay us for this.

Your quote will tell you the total price to be paid, showing any fees, taxes and charges separately from the premium.

Full payment of premium and fees is due before cover starts, or as otherwise stated under the terms of credit, or in the debit note, invoice or statement issued to you. Before the conclusion of each insurance contract, or upon renewal, we’ll remind you of your right to know the level of commission we get from insurers.

We draw your attention to the sections headed ‘Cancelling your insurance’ and ‘Ending your relationship with us’.

Compensation

We’re 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 business and the circumstances of the claim.

Claims related to insurance advising and arranging are covered for up to 90% of the claim’s value, without any upper limit.

Further information about compensation scheme arrangements is available from the FSCS on 0800 678 1100 or fscs.org.uk.

Ending your relationship with us

Subject to your immediate settlement of any outstanding premiums and fees, you may instruct us to stop acting for you and we will not impose a penalty. Your instruction must be given in writing to cancellations@cybercover.uk and will take effect from the date of receipt.

In circumstances where we feel we cannot continue providing services to you, we’ll give you a minimum of seven days’ notice.

Unless otherwise agreed in writing, if our relationship ends, any transactions previously initiated will be completed according to these terms of business. You will be liable to pay for any transactions concluded prior to the end of our relationship and we’ll be entitled to retain commission received for conducting these transactions, together with all fees charged by us.

Fair presentation of risk

The Insurance Act 2015 and its ‘Duty of fair presentation’ exists to enable insurers to provide you with a fair outcome in the event of a claim. Under its terms you have a statutory duty to provide a ‘fair presentation of the risk’. This means, before starting a new policy, changing a policy mid-term, or renewing a policy, you must make sure the information you provide is clear, accurate and complete. It is important you disclose all material circumstances that you’re aware of. We therefore strongly recommend you carry out appropriate research, which may include consulting with colleagues, directors and managers of your business, and third parties connected to your business (e.g. accountants).

If you’re not sure what constitutes material circumstances, or you’ve not been able to gather the necessary information, let us know. Deliberate or reckless failures to present the risk fairly could mean part or all of your claim is declined. In these circumstances, the insurer is entitled to treat the insurance as if it had never existed, and to keep any premium you’ve paid.

Your responsibilities

You must check all details on any proposal form or statement of fact and pay particular attention to any declaration you’re asked to agree to.

It’s important that you read all insurance documents issued to you and make sure you are aware of the cover, limits and any other terms that apply. Particular attention must be paid to any warranties and conditions as failure to comply with them could invalidate your policy.

You must inform us immediately of any changes in circumstances which may affect the services provided by us or the cover provided by your policy. If you’re not sure what needs to be disclosed, please contact us.