Terms of Business

Who Regulates us?

Kounnis Insuforce Limited and it's associated trading names Waltham Forest Insurance & Insuforce are authorised and regulated by the Financial Conduct Authority (FCA). The FCA is the independent watchdog that regulates financial services. Our FCA Firm reference number is: 304831. Check this online by visiting www.fca.org.uk/register or by telephone to the FCA on 0800 1116768.

What Service do we offer?
Our permitted business is arranging, advising, dealing as agent and assisting in the administration of non-investment insurance contracts. In certain cases, insurers authorise us to underwrite and settle claims on their behalf within agreed guidelines. Accordingly, in placing your insurance and handling claims, we may act as agent for insurers as well as for you.

Whose products do we offer?
For both commercial and personal insurances we offer products from a range of insurers either directly, Delegated Authority Schemes or other FCA regulated Wholesale Intermediaries. A list of the insurers & wholesale intermediaries we use, is available on request.

Which service will we provide you with?
We will advise and make recommendations for you after we have assessed your needs. Our service also includes: arranging your insurance cover with insurers to meet your requirements; and helping you with any ongoing changes you have to make. We will also advise and assist in the settlement of claims. In certain cases, insurers authorise us to settle claims on their behalf within agreed guidelines.

What information should you disclose?
It is your responsibility to provide complete and accurate information to insurers when you take out an insurance policy, throughout the life of the policy, and when renewing your insurance. Failure to disclose any material information to your insurers might invalidate your insurance cover and could mean that part or all of a claim may not be paid. It is important that you ensure all statements you make on proposal forms, claim forms and other documents are full and accurate. If a form is completed on your behalf, you should check that the answers shown to any questions are true and accurate before signing the document. If you are in any doubt about whether information is material, you should disclose it.

What will you have to pay us for our services?
From time to time, we may need to make a charge in addition to premiums charged by the insurer. This is to cover circumstances that involve increased administration work. In these instances we will always inform you before you incur any liability to pay the administration.

What are our terms of payment?
Unless specifically agreed with us in writing, the following payment terms apply:
  • New policies: immediate payment on or before the starting date
  • Alterations: immediate payment on or before the change
  • Renewals: Payment due in full on or before the renewal date
How are your payments handled?
Your money will be segregated into a Clients’ Money Account. This is a non-statutory bank account held by Kounnis Insuforce Limited as trustees on your behalf. Monies from this account will be paid to insurers, to meet your premium obligations. Credit may also be extended when paying premiums to insurers and return premiums to other customers, using cleared funds from this account. We may also pass the money you pay us to another intermediary. We will only do this where it is a necessary process of arranging cover for you, and only where the intermediary has been granted full risk transfer by the insurer underwriting your policy. In instances where we collect money as agent on behalf of the insurer, the money deposited in the Clients’ Money Account is held on behalf of the insurer. We also earn interest on money deposited in the Clients’ Money Account. Any interest earned will remain in the ownership of Kounnis Insuforce Limited, unless it is over £20 per transaction upon which we will seek your informed consent. Unless we hear from you to the contrary we will presume your agreement to the way we handle client monies. If you do not want your premiums to be handled in this way, you have the right to make your payments directly to the insurer.

Confidentiality and Data Protection
All information about you will be treated as private & confidential. We will only use and disclose the information we have about you in our normal course of arranging or administrating your insurance. Under the Data Protection Act 1998 you have rights of access to any personal information we hold about you, and is available to you on request. Only with your prior permission will we disclose information we hold on you to a third party.

What to do if you have a complaint
If you wish to register a complaint, please contact us:
  • in writing Write to Sof Andrea, Kounnis Insuforce Limited, Sterling House, Fulbourne Road, London, E17 4EE
  • by phone Telephone 020 8523 0008
  • by e-mail sofandrea@kounnis.com
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. Please note that commercial customers who have a group turnover of £1 million or more cannot refer complaints to the Financial Ombudsman Service.

Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the 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.
Insurance advising and arranging is covered for 100% of the first £2000 and 90%of the remainder of the claim, without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS.

Following the decision to provide a full quote & buy internet service via three different internet sites, the TOBA relating to Insuforce products marketed via the Insuforce Web page, has been written as follows:

Kounnis Insuforce Limited T/A Insuforce
Registered in England and Wales No.4334060 Registered Offices Sterling House Fulbourne Road London E17 4EE
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