About Us
Supernova Brokers Limited is an independent insurance intermediary. Supernova Brokers Ltd, registered within the UK under the following address: 25-39 Small Heath Highway, Small Heath, Birmingham, B10 0EU under registration 12417276. Supernova are authorsied and regulated by the Financial Conduct Authority (FCA). Our Registration Number is 930782. We are authorised to carry our credit brokering on behalf of insurance companies and other third-party intermediaries. We are permitted to arrange and provide quotations for insurance to our customers on behalf of insurance companies. We do not have contractual rights with insurers whereby we have to utilise a single insurer, we provide quotes from a panel of insurers. Our products which we sell are on a non-advised basis, therefore we would not provide a personal recommendation, we would provide you with a list of quotes to ensure you make an informed decision. We may ask you questions to narrow your demands and needs to ensure you are provided with the correct cover for your requirements. We are able to provide you with a list of insurers should you wish to see the panel of insurers we work with. You can check all details stated above on the FCA’s registered by visiting https://register.fca.org.uk/s/ or by contacting the FCA on 0800 111 6768 or 0300 500 8082.
Important Information (consumer customers only)
Under the Consumer Insurance (Disclosure and Representation) Act 2012 it is your duty as a consumer to take reasonable care not to make a misrepresentation to any insurer. Under the act, a consumer is defined as an individual who enters into an insurance contract wholly or mainly for purposes unrelated to the individual’s trade, business or profession.
A failure by the consumer to comply with the insurer’s request to confirm or amend particulars previously given is capable of being a misrepresentation for the purpose of this act. It is important that you ensure all statements you make on proposal forms, claim forms and other documents are full and accurate and we recommend that you keep a copy of all correspondence in relation to the arrangement of your insurance.
Under the act, an insurer has a remedy against a consumer in respect of qualifying misrepresentations in breach of the consumers’ duty of reasonable care where the insurer deems the misrepresentation to be either deliberate, reckless or careless. If in doubt about any point in relation to your duty to take reasonable care and subsequent qualifying misrepresentations, please contact us immediately.
The duty of fair presentation (non-consumer customers only)
It is your responsibility to provide a fair presentation of the insurance risk based on you conducting a reasonable search for information. This could require you to obtain information from senior managers within your organisation or other parties to which the insurance relates or who carry out outsource functions for your business.
You must disclose every material circumstance which you know or ought to know, or failing that, disclose sufficient information to put your insurer on notice that it needs to make further enquiries.
You must ensure that any information you provide is correct to the best of your knowledge and representations that you make in expectation or belief must be made in good faith. If you fail to make a fair presentation of the risk this may result in additional terms or warranties being applied from inception of the policy or any claim payment being proportionately reduced. In some cases this could result in your policy being declared void by an insurer and your premiums returned. Any deliberate or reckless breach of the duty of fair presentation could result in your policy being declared void by an insurer with no refund of premium. If in doubt about any point in relation to material circumstances and reasonable search please contact us immediately.
Financial Crime
Please be aware that current UK money laundering regulations require us to obtain adequate information about you. We are also required to cross check you against the HM Financial Sanctions List as part of the information gathering process. We are obliged to report to the National Crime Agency and/or Serious Fraud Office any evidence or suspicion of financial crime at the first opportunity and we are prohibited from disclosing any such report. We will not permit our employees or other persons engaged by them to be either influenced or influence others in respect of undue payments or privileges from or to
insurers or clients. We may cross-check your details against credit reference agencies to comply with money laundering regulation.
Solvency of Insurers
We cannot guarantee the solvency of any insurance company which we place business. This means that you may still be liable for any premium due and not be able to recover the premium paid, whether in full or in part, should an insurer become insolvent. We do a number of checks on our insurance panel to ensure their solvency and capital requirements are met, however we cannot guarantee this. you may have to pay a further premium to arrange for alternative insurance cover.
Notification of Incidents and Claims
It is essential to notify us immediately of all incidents that may result in a claim against your insurance policy. You must do so whether you believe you are liable or not.
Any letter or claim received by you must be passed to us immediately, without acknowledgement. Only by providing prompt notification of incidents can your insurance company take steps to protect your interests. Your policy summary and/or policy document will provide you with details on who to contact to make a claim.
Claims payment will be made in favour of you. If you require a payment to be made to a third party then you must confirm the required payee name and details and provide a brief explanation for your request. Please contact us for guidance on claiming under your policy.
Cancellation of Insurance Policy – Consumer and Non-Consumer Customers
Our policy document will detail your rights to cancel your insurance once you have taken it out. Depending on the type of policy you have purchased, you may be entitled to cancel within 14 or 30 days of either conclusion of the contract or receiving your policy documentation, whichever occurs later.
This is often referred to as a cooling-off period. Where you cancel a policy before renewal you will be responsible for paying a charge to meet the cost of cover provided and administration expenses set by the insurance company and supernova brokers limited. To enable your insurer to process the cancellation, you will need to return certificates and any official documents to our office within 14 days of your notice to cancel. Please email compliance@supernovainsurance.co.uk or call 0121 803 6824.
Our Commission and/or fee are fully earned from the date insurance cover commences and may not be refundable in the event of cancellation, avoidance or early termination of an insurance policy. ( Please See Refund Section)
Refund from Insurance Company
Where a insurance policy is cancelled by the customer or insurer for any reason inclusive of fraud, insurers charge to cover their costs with the balance refunded to you subject to no claim being made. Any refund or adjustments arising by you or the insurer the premium will be refunded to you by the insurer and not Supernova Brokers Limited.
Refunds from Supernova Brokers Limited
Where an insurance policy is cancelled or a mid-term adjustment has been made by you the customer/policy, which results in a refund of premium, we/supernova brokers limited will charge the full amount of the commission and fees we would have received had you not cancelled or adjusted for a refund.
Personal Information in accordance with the Data Protection Act
All personal information about you will be treated as private and confidential including if you decide to move to another insurance broker or provider, except where the disclosure is made at your request or with your consent in relation to administering your insurance, and except where the law requires us.
Some or all of the information you supply to us in connection with your insurance proposal may be passed to DVLA, insurance and other companies for underwriting, claims, premium collection or debt recovery purposes.
They will have access to shared claim databases and credit reference information. For taxi business, we may also validate your records with local authorities. Your data will be held in accordance with the General Data Protection Regulation (GDPR),
under which you have a number of rights you can request such this as, subject access request, please see our Privacy Policy on our website. If you have any questions, please write to the compliance manager at compliance@supernovainsurance.co.uk . The personal information we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance or employment in future. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, by requesting information in writing or over the phone.
To provide you with a quote, determine premium rates and assess the most appropriate payment options for you, Supernova Brokers Limited will make checks on the electoral roll and other data through credit reference and fraud prevention agencies. The credit reference and fraud prevention agency may disclose that information, and the fact that a search was made, to its other customers for the purposes of assessing the risk of giving credit or granting insurance, to prevent fraud and to trace debtors. A record of the check will be held by the credit reference agency and will be visible to other organisations and in the case of credit will be included in your credit score. If you choose to obtain quotes through a number of third parties, this may result in multiple searches being visible on your record with the credit reference agency.
Fees and charges
In addition to the premiums charged by the insurer, charges apply to cover our administrative costs, please see the table below.
Charges/Fee Type Charges/Fee Amount
New Business or Renewal (Single Taxi Policy) Non-refundable £125
New Business or Renewal (Fleet Policy) Up to 10% of premium
Impounded Vehicle Insurance Policies Varies from £30 – £100
Breakdown Cover £15
Mid-Term Adjustment (Taxi Single Policy) £30
Mid-Term Adjustment (Fleet Policy) £150
Duplicate Documents £15
Cancellation of policy £25
Cancellation of policy (Fleet Policy) £50
Commission Payment
Insurance Company Payment We may receive up to 25% of the insurance premium from the insurance.
Insurance Company Payment – Taxi Up to 15% of premium
Where a fee is payable we will advise you of this before the customer commits to purchasing a policy.
Our Remuneration from Insurers
Prior to the sales of each insurance contract, or upon renewal, we will remind you of your right to be advised of the level of commission which we receive from insurers and partners. You are entitled, at any time, to request information regarding any commission which we may have received as a result of placing your insurance business. When we sell you a policy the insurer pays us a percentage commission from the initial premium (see section – Fees and Charges.) In addition to any
commission earned on policies purchased through us, we also earn a commission on any policies that are paid for via Direct Debit from Premfina finance, this is for arranging your finance.
Debt Recovery
If you are paying for your policy via Direct Debit, and are unable to keep up with your payments, any balance that is owed regarding this following the cancellation of your policy will become payable to us. You are agreeing by entering into this contract to adhere to the payments terms set by Supernova Brokers Limited, if you fail to keep up with your premium payments, any outstanding amount may be referred to our debt recovery agency. This will incur additional costs, plus VAT at the prevailing rate, to collect the debt and will be added to the debt.
By accepting this policy, you agree that you will be legally liable to pay this surcharge to the debt recovery agency and that payment of the same can be enforced against you in court.
Premfina Limited
We have an exclusive partner for any policies where you have chosen to pay via Direct Debit, Premfina Limited. Applications for credit will be passed to Premium Credit Ltd (PCL) who are required to meet responsibilities arising from the EU Consumer Credit Directive (CCD). In assessing your application, they will 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 about you and undertake checks for the prevention and detection of money laundering.
If Premfina Limited are not able to provide credit facilities we will be unable to continue cover unless alternative payment arrangements are made.
Protecting Customers Money
Prior to your premium being forwarded to the insurer, and for your protection, we either hold your money as an agent of the insurer (in which case your policy is treated as being paid for) this is held in an insurer trust account, or we hold it in a client bank account on trust for you. However, your money will be protected at all times due to the requirements of FCA rules. We also reserve the right to retain interest earned on this account.
Complaints procedures
It is our intention to provide you with the highest possible level of customer service at all times. However, we recognise that things can go wrong occasionally and if this occurs we are committed to resolving matters promptly and fairly.
Should you wish to complain you may do so via the following methods:
In writing to the Complaints Manager – 25-39 Small Heath Highway, Birmingham, B10 0EU
By telephone on 0121 803 6824 By e-mail at compliance@supenovainsurance.co.uk
In-person by visiting our office (see above for address)
Should you not be satisfied with our final response, you may be entitled to refer the matter to the Financial Ombudsman Service (FOS). More information is available on request or on their website www.financial-ombudsman.org.uk Further details will be supplied at the time of responding to your complaint.
We are a firm that sell products online and are required to inform you of the availability of the online dispute resolution (ODR) platform to assist you if we are unable to resolve your complaint. This facility will direct you to the alternative disputes
resolution (ADR) provider for the firm who in this case is the Financial Ombudsman Service (FOS) and you may therefore wish to contact them directly.
Financial Services Compensation Scheme (FSCS)
We are covered by the Financial Services Compensation Scheme and you may be entitled to compensation from the scheme depending on the type of business and circumstances of the claim if we cannot meet our obligations. Further information about compensation scheme arrangements is available from the Financial Services Compensation Scheme at www.fscs.org.uk
Law and jurisdiction
This agreement shall be governed by the laws of England, Wales and Scotland and the parties agree herewith that any dispute arising shall be subject to the non-exclusive jurisdiction of the relevant court.
By accepting this Terms of business agreement document, you are giving your consent for us to operate in this way.
If a claim occurs all outstanding premiums must be paid.