Butterworths Insurance Services believe it is important for customers to know with whom they are dealing and to be assured that the cycle insurance product they are purchasing is genuine and backed not only by a major insurer but also by the protections which the insurance market and the financial services market have implemented to avoid customers being let down.
Ecoinsure cycle insurance is underwritten by Novae Syndicate 2007 at Lloyd’s, Novae Group plc, 71 Fenchurch Street, LONDON, EC3M 4HH. Phone: 020 7903 7300.
Lloyd’s has an unblemished international reputation for paying claims and to ensure that a situation never arises wherein a Lloyd’s syndicate fails to meet its obligations in respect of valid claims, the committee of Lloyd’s created the Lloyd’s Central Fund which exists to meet the liabilities of any Lloyd’s syndicate should the syndicate become technically insolvent. Lloyd’s has never yet failed to honour a valid claim and the Lloyd’s Central Fund is the first line of defence in ensuring that this never happens.
In addition to the Lloyd’s Central Fund, Lloyd’s syndicates are also members of the Financial Services Compensation Scheme (FSCS) which was set up to assist policyholders in circumstances where any Financial Services Authority-authorised insurer becomes insolvent and is unable to meet its liabilities. You could be entitled to compensation if the underwriters were unable to meet their liabilities or obligations, but this would depend upon the type of claim and the circumstances of the claim. Full details of the FSCS are available from Financial Services Compensation Scheme, 7th Floor, Lloyd’s Chambers, 1 Portsoken Street, LONDON, E1 8BN. Phone: 020 7892 7300.
Both Butterworth Insurance Services (Godalming) Ltd and Novae Group plc are authorised and regulated by the Financial Services Authority (FSA). The FSA has determined the rules which govern the conduct of those who sell or underwrite insurance products. These rules of conduct are not simply to ensure that you have purchased a 'bona fide' product and that your money is safe, but also to ensure that we treat our customers fairly and that you have contract certainty, i.e. you know exactly what it is that you are buying. As a demonstration of this we automatically give you 14 days to tell us if the insurance we have provided does not meet your demands and needs, and that you wish not to proceed with it. To invoke this you must return any Certificate of Insurance to us within the 14 day period. If you do this then we are obliged to return your premium to you, including Insurance Premium Tax, less an administration fee.
If you wish to assure yourself that both Butterworth Insurance Services and Novae are FSA authorised and regulated please visit the FSA website at www.fsa.gov.uk/register or phone the FSA directly on 0845 606 1234.
Butterworth Insurance Services has been providing cycle insurance for more than 25 years and we are highly respected and acknowledged experts in this area. You can be assured therefore that Ecoinsure cycle insurance is fit for purpose. However, the service we provide is transaction only, and we do not give advice or make recommendation, although it is inevitable that we will ask you questions in order for us to ensure that you obtain the correct cover and extensions of cover for your individual demands and needs. Ultimately, the decision on whether to insure with us, which type of cover to purchase, and what extensions of cover are needed, will be a matter for you to decide, and your decision will be based on your own interpretation of the information contained in the pages of our website and in any literature or documentation we may send to you.
You have a right to complain if you are dissatisfied in any way with the service we provide for you, and within the Certificate of Insurance there is a formal complaints procedure. In the first instance you must write to The Managing Director, Butterworth Insurance Services (Godalming) Ltd, 180 Garston Old Road, LIVERPOOL, L19 1QL.
