- Who are we?
Sorn Insurance is a trading style of Principal Insurance Limited, company registration number 07623634. A specialist insurance group, Principal’s registered office and postal address is Citygate 2 Cross Street, Sale, Cheshire, United Kingdom, M33 7JR .
- We are authorised and regulated by the Financial Conduct Authority (FCA)
Principal Insurance Limited is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 551900. You may check this on the FCA’s register by visiting the FCA website, or by contacting the FCA on 0800 111 6768
- Whose products do we offer?
We offer niche products from a limited number of insurers. A list of these insurers can be supplied on request.
- Which service will we provide you with?
You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed. We will administer the policy on your behalf and issue the relevant documentation via email. We have the authority to handle the claims process and agree settlement directly with the Insured party.
- What will you have to pay to us for this service?
We are remunerated by commission deducted from the premium and we also apply a fee for our services in arranging, amending, renewing, cancelling and handling the claim on any insurance policy. A scale of specific charges is shown below for each class of business. In addition to the above our commission is not refundable in any circumstances
- Your cancellation rights
Consumers have the right to cancel new policies or renewals within 14 days of receipt of the full documentation. If this right is exercised insurers will charge for the cover provided including administration costs. Full details are provided in your policy summary.
If the policy has been in force for fourteen (14) days or longer, the Insured may cancel the policy at anytime but will not be entitled to any return of premium.
- What to do if you have a complaint
It is our intention to provide you with a high standard of service at all time,s but if you wish to register a complaint, please contact us either by e-mailing firstname.lastname@example.org or calling us on 0330 024 1663. You can also write to us at: Customer Services, Principal Insurance, Citygate 2, Cross Street, Sale, Manchester M33 7JR. To help us assist you promptly, please quote your policy reference in any correspondence.
We are also required to inform you of the availability of the Online Dispute Resolution platform to assist you if we are unable to resolve your Complaint. However, this service will refer your Complaint to the Financial Ombudsman Service, so you may instead wish to contact them directly.
- Are we covered by the Financial Services Compensation Scheme (FSCS)?
Yes, Sorn Insurance is covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. It depends on the type of business and the claim circumstances. Further information about the compensation scheme is available from the FSCS. www.fscs.org.uk
- Looking after your money
Sorn Insurance is a trading style of Principal Insurance whose terms of business apply. For full details of Principal Insurance’s terms of business, please click here.
We hold your premium payment under risk transfer as agent of the insurers and we do this by paying it into an insurer premium trust account until it is passed to the insurers. This is to protect your money and means that whilst your money is in the account, it cannot be used for any purpose other than paying the insurers or insurance intermediaries through whom we may have arranged your insurance. We will retain any interest earned on the account.
We will retain your debit/credit card details for the purposes of automatic renewals and to pay or refund premiums that may become due upon changes to the policy. If you do not want us to use your debit/credit card details for these purposes please contact us. All payments from either a credit or a debit card will appear as Principal Insurance on the bank or credit card statement.
- Administration Fees applicable
New Business/renewal administration fee – £47.50
Cancellation within your 14 day right to cancel; £47.50 New Business Fee non refundable but full return of insurer premium unless there is a claim
- Your duty of disclosure
It is your responsibility to provide complete and accurate information to Sorn Insurance when you take out your insurance policy. It is important that you ensure all statements you make on web applications, telephone applications and claim forms and all other documents are full and accurate. If you fail to disclose any material facts to Sorn Insurance at the outset or other relevant time including renewal this may invalidate your insurance and result in all or part of a claim not being paid. A material fact is one that affects what premium you are charged or what cover you are granted by the Insurer. If you are unsure what constitutes a material fact you should ask us for guidance by either calling our contact centre or writing to us.
- Your responsibility to read all documents
When a policy and related documents, e.g. policy summary, demands and needs statement, are issued you are strongly advised to read them carefully as they form the basis of the cover you have purchased. If you are in doubt over any of the policy terms or conditions please contact us and we will be happy to explain and clarify any points for you.
- Your data and privacy
- What to do in the event of a claim
If you want to claim on your policy you should contact our Claims Department on 0330 053 ????. We will guide you through the process of you claim and agree settlement, providing indemnity is in place.
- Quotation validity
Sorn Insurance, a trading style of Principal Insurance will guarantee any quote within 30 days of the original quote date.
All policy documents will be sent via email. A postal service is available, subject to our fees being imposed.??
- Governing law
The laws of England & Wales govern this agreement and the parties agree that any dispute arising from it is subject to the exclusive jurisdiction of the English courts.