Initial Disclosure Document
About us and our insurance services
1. The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. Use this information to decide if our services are right for you.
2. Whose products do we offer and how do we place your business?
We can only offer products from:
- Tyre & Alloy Insurance & Minor Damage Insurance (Mercedes only) is administered by AutoProtect (MBI) Limited and underwritten by Acasta European Insurance Company Ltd
- AutoTrust Cosmetic Repair Insurance, which is administered by Car Care Plan Limited, underwritten by Motors Insurance Company Limited (‘MICL’) (smart only);
- AutoTrust Asset Protection, which is administered by Car Care Plan Limited and underwritten by AmTrust Europe Limited (‘AEL’).
We may use another intermediary to help place your insurance. If we do, we will confirm this to you before any arrangements are finalised.
3. Which service will we provide you with and who do we act for?
For Mercedes-Benz customers, we will advise and make recommendations to you after we have assessed your financial needs for Alloy Wheel Insurance, Minor Damage Insurance and Asset Protection Insurance.
For smart customers, we will advise and make recommendations to you after we have assessed your financial needs for Alloy Wheel Insurance, Cosmetic Repair Insurance and Asset Protection Insurance.
You will not receive advice or a recommendation from us for Motor Insurance.
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 act on your behalf in arranging your insurance. We act as agents of the insurer in collecting premiums from customers. Such monies are deemed to be held by the insurer(s) with which your insurance is arranged.
4. What will you have to pay us for our services?
No fee. We also receive commission from insurers for placing your insurance business. You can ask us for details of the commission we receive.
5. Who regulates us?
City West Country Limited is an appointed representative of ITC Compliance Limited which is authorised and regulated by the Financial Conduct Authority (their registration number is 313486). Permitted activities include advising on and arranging general insurance contracts and acting as a credit broker not a lender.
You can check this on the Financial Services Register by visiting the FCA’s website https://register.fca.org.uk or by contacting the FCA on 0800 111 6768.
6. What to do if you have a complaint
If you wish to register a complaint, please contact the ITC in writing: ITC Compliance Ltd, Monarch Court, Emersons Green, Bristol, BS16 7FH Telephone: – 0845 177 2266 or 0117 9708426 Email: – [email protected]
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (FOS).
See www.financial-ombudsman.org.uk for further details.
7. 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.
If you are eligible to claim from the FSCS, compensation is available in relation to insurance advising and arranging as follows:
- 90% of the claim, without any upper limit;
- 100% of the claim without any upper limit for
- compulsory classes of insurance (such as Third-Party Motor or Employers Liability); and
- pure protection contracts, professional indemnity insurance, and general insurance claims arising from the death or incapacity of the policyholder owing to injury, sickness or infirmity, all where the insurance intermediary has failed to pay money to an insurer, pay away money it has received from an insurer, or has failed to take steps to allow the insurer to effect the contract of insurance.
Further information about compensation scheme arrangements is available from the FSCS.