Terms of business

1.1. ‘You’ or ‘your’ means you (and/or your appointed agent).

1.2. ‘We’ or ‘us’ or ‘our’ means the firms noted in the heading of this document.

2.1. For new or renewing customers on or after the 23rd January 2020: Bikmo GmbH is authorised by the IHK Munich under reference number D-7BNS-163BM-35 and regulated by the BaFin. We use the free movement of services to arrange insurance in the Eire.

2.2. For existing customers who registered before the 23rd January 2020: Bikmo Limited is authorised and regulated by the Financial Conduct Authority (FCA) an independent body that regulates the UK financial services industry. Our details may be confirmed on the FCA’s Register or by phoning the FCA on 0800 111 6768.

2.3. Our permitted business activities are introducing, advising, making arrangements with a view to transactions, dealing as an agent, assisting in the administration and performance of a contract and agreeing to carry on a regulated activity in respect of General Insurance contracts, and credit broking in relation to insurance instalment facilities.

3.1. When transacting your business online, we source and arrange a product but do not offer advice or make recommendations when arranging your insurance. However, we may ask some questions to narrow down the selection of products on which we will provide detail, You then need to make your own choice on how to proceed.

3.2. In some circumstances we do provide advice and we will, therefore, confirm in separate documentation whether or not any advice or recommendation has been made before finalising your insurances.

3.3. We will not provide further advice or recommendations following the arrangement of insurance cover unless you notify us of a material change of circumstances or formally request that we review your insurance arrangements.

3.4. We will advise you of any inability to place your insurance.

3.5. We will not in any circumstance guarantee the solvency of any insurer.

3.6 Please also note, unless your policy confirms otherwise, the rights under your policy may only be pursued in Irish law.

4.1. We are usually remunerated by commission from insurer(s), product providers, and where applicable, finance providers, for our insurance broking services. In addition:

4.1.1. Some insurers may make additional payments to us reflecting the size and/or profitability of our account with them and/or in respect of work we undertake on their behalf.

4.2. 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.

4.3. When you receive your quotation, you will be informed of the total price to be paid which identifies any fees, taxes and charges separately from the premium, before your insurance arrangements are concluded.

4.4. We also draw your attention to the section ‘Cancellation of Insurances’.

5.1. The law or regulations in your country of domicile may take precedence over any relevant UK legislation. Therefore references in this document to the FCA or Financial Ombudsman Service or Financial Services Compensation Scheme and any rights or benefits thereunder may not apply. If you wish to clarify your position in this respect then we will discuss this on request.

6.1. It is your responsibility to answer honestly and to the best of your knowledge, providing complete and accurate information which insurers will require. This also applies to your responses in relation to any assumptions. This particularly important when taking out a policy but also during renewal and when you make a mid-term adjustment to your policy.

6.2. Failure on your part to immediately disclose information relevant to your insurance or any inaccuracies in the information given could result in your insurance cover being invalid or a claim may not paid.

7.1. Amendments to policies may be arranged upon receipt of full details and on return of the certificate of insurance (if applicable). Cover is subject to acceptance by insurers and payment of any additional premium required inclusive of Insurance Premium Tax (IPT).

7.2. Renewals are invited on the basis that there have been no changes in the risk other than those specifically notified to us or your insurers.

10.1. Documentation including your policy and certificate, if applicable, will be available in your online account.

10.2. It is your responsibility to read all documentation and ensure that they are correct and meet your needs. Incorrect policy information could result in a claim not being paid.

11.1 We must receive your payment, before cover commences unless we agree otherwise. A charge may apply to payments made by credit card and this will be confirmed to you at the time of incepting or renewing your insurance. If we agree to accept payment from someone other than the policyholder then this must be notified to us and agreed by us.

11.2 We have no obligation to fund any premium, taxes or fees (if applicable) on your behalf nor do we have any responsibility for any loss you may suffer as a result of cancellation of insurance cover or any other prejudicial steps taken as a result of late payment substantially attributable to you. If we decide to retain certain documents whilst awaiting payment, we shall provide details of your insurance cover and any information or documents required by law.

11.3 We shall be entitled (but not obliged) without providing notice to you to set off any amounts due to us from you, against any amounts which we may receive on your behalf (i.e. claims moneys, refunded premiums and other sums). Please be aware that full or partial non-payment of a premium or default on a credit agreement may result in the cancellation or lapsing of your policy.

12.1. When we are appointed to service insurance policies other than at their inception or renewal and which were originally arranged via another party, we shall not be liable during the current insurance period for any loss arising from any errors or omissions or gaps in your insurance cover or advice not supplied by us. Should you have any concerns in respect of a policy, which has been transferred to us, or if you require an immediate review of your insurance arrangements, you must notify us immediately. Otherwise, we shall review your insurance arrangements and advise accordingly as each policy falls due for renewal.

13.1. If you wish to cancel your policy then you will need to contact the customer services team via phone or email, or use the cancellation function in your online account.

13.2. Subject to the cancellation terms of your policy, a refund of premium may be available, you will be advised of this at the time. Details of any applicable cancellation terms and charges will be found in your policy documents.

13.3. Our commission and/or fees are fully earned from the date insurance cover commences and may not be refundable in the event of cancellation, avoidance or early termination of a policy.

13.4. There is no refund for policies of a duration of 30 days or less.

13.5. Our annual policies have a 14-day cooling-off period.

14.1. You should take note of the required procedures in the event of a claim, which will be explained in the policy documentation. Generally, insurers require immediate notification of a claim or circumstances which may lead to a claim.

14.2. We will employ due care and skills if we act on your behalf in the event of a claim.

15.1. Our financial arrangements with most insurance companies are on a risk transfer basis. This means that we act as an agent of the insurer in collecting premiums and handling refunds due to clients.

15.2. We hold all client monies in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, we assume responsibility for such monies and are permitted to, and may:

15.2.1. Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer;

15.2.2. Retain for our own use, any interest earned on client money.

15.3. Your money will be held as an agent of the insurer, which means that when we have received your cleared premium, it is deemed to have been paid to the insurer.

15.4. Unless we receive your written instruction to the contrary, we shall treat the receipt of payment from you and of any claim payment and/or refund of premium which fall due to you, as being with your informed consent to the payment of those monies into our Non-Statutory Trust bank account.

15.5. A copy of the deed of trust is available on request or may be inspected at our premises during normal office hours. If you object to your money being held in a non-statutory trust account, you should advise us immediately. Otherwise, your agreement to pay the premium together with your acceptance of these terms of business will constitute your informed consent to our holding your money this way.

16.1. Unless we have otherwise agreed with you in writing, we shall treat your instructions to us to place or renew your insurance cover as acceptance of the limitation of our liability to you and to any other person with an interest in your insurance cover, as follows;

16.2. Except in respect of any claim: –

• resulting from our fraudulent act; or
• resulting from a breach by us of the relevant regulations; or
• in relation to any liability for death or personal injury resulting from our negligence; or
• in relation to any other liability which cannot lawfully be excluded or limited
• our liability to you (whether in contract, tort (including, without limitation, negligence) or otherwise) shall be limited to £1,000,000 in respect of any and all insurance mediation activities undertaken by us on your behalf over any 12-month period.

16.3. This Agreement contains all obligations owed by us to you. Our liability shall be strictly limited to direct liability in contract. We expressly exclude any liability for indirect or consequential loss howsoever arising and any and all liability in tort save in relation to liability for our negligent acts causing personal injury or death or other liability expressly reserved by statute.

17.1. All personal information about you will be treated as private and confidential. We are registered with the Bavarian State Office for Data Protection. We undertake to comply with the General Data Protection Regulation (GDPR) in all our dealings with your personal data. Your personal information will be kept secure. If you require more information on how we use your personal data please refer to our privacy notice.

17.2. We will process any personal information we obtain in the course of providing our services to you in accordance withthe Data Protection Act 2018, the GDPR and any other relevant legislation.

17.3. In administering your insurance and where applicable for arranging premium finance, it will be necessary for us to provide information to insurers and other relevant services or product providers, or if required by law.

17.4. Some of the details you may be asked to give us, such as information about offences or medical conditions are defined by the relevant legislation as sensitive personal data. By giving us such information, you signify your consent to it being processed by us in arranging and administering your insurances.

17.5. Subject to certain exceptions, you will be entitled to have access to your personal and sensitive personal data. We do not charge for this service.

17.6. We may from time-to-time, provide you with marketing information on other products we supply and/or pass your contact details to other suppliers of products or services of whom we approve. Please notify us promptly in writing if you do not wish your details to be used for any of these purposes otherwise we shall treat the issue of this Terms of Business as evidence of your informed consent.

17.7. We take appropriate steps to ensure the security of any money, documents, other property or information handled or held on your behalf. It is our policy to retain records for insurance cover effected on your behalf for a minimum of 3 years after expiry and otherwise as required by regulation or law.

17.8. All information in any form, with the exception of policy documents and certificates issued on behalf of insurers, supplied by us to you must be treated as strictly private and confidential and not be released directly or indirectly to any other party, without our explicit, written consent.

18.1. You or we may terminate our authority to act on your behalf by providing at least 7 days notice in writing (or such other period we agree). Termination is without prejudice to any transactions already initiated by you, which will be completed according to these Terms of Business unless we agree otherwise in writing.

18.2. You will remain liable to pay for any transactions or adjustments effective prior to termination and we shall be entitled to retain any and all commission and/or fees payable in relation to insurance cover placed by us prior to the date of written termination of our authority to act on your behalf.

19.1. If any provision of these Terms of Business is found to be invalid or unenforceable in whole or in part, the validity of the other provisions of these Terms of Business and the remainder of the provision in question will not be affected.

20.1. We are entitled to assign these Terms of Business to any other company within the group of companies of which we are part but then only for so long as such company remains a member of such group.

20.2. We are entitled to transfer client monies to an identical bank account held in the name of any other company within the group of companies of which we are a part but then only for so long as such company remains a member of such group.

21.1. These Terms of Business which form our agreement with you shall be governed by and construed in accordance with:

• Bikmo GmbH – the laws of Eire and Irish courts unless we agree with you otherwise.
• Bikmo Limited – the laws of England and the exclusive jurisdiction of the English courts unless we agree with you otherwise.

22.1. Unless otherwise agreed between us in writing no provision of this Terms of Business is enforceable under the Contracts (Rights of Third parties) Act 1999 by any person other than you or us.

23.1. We, and other companies involved in arranging your insurance, may use public and personal data from a variety of source including credit reference agencies and other organisations.

23.2. The information is used to help tailor a price to ascertain the most appropriate payment options for you, and prevent fraud.

23.3. Any credit reference search will appear on your credit report, whether or not your application proceeds, If you have any questions about this or any other matter, please do not hesitate to contact us.

24.1. We have no tolerance for bribery and corruption and this policy extends throughout the company for all of its dealings and transactions in all countries in which we operate. Our anti-bribery policy is updated in line with the changes in the law, changes in our business and our reputational demands. All employees are required to comply with this policy.

24.2. Both parties agree to comply fully with the requirements of the Bribery Act 2010, and will not engage in any of the following activity:

• promising or giving of an advantage, financial or otherwise, to another person to bring about an improper performance or to reward such improper performance
• requesting, agreeing to receive or accepting of an advantage, financial or otherwise to act improperly
• bribe a foreign public official to do or reward them for doing, something improper

24.3. Additionally, where applicable, a firm will prevent bribery from being committed on its behalf by its employees and third parties.

25.1. Both parties shall pay due regard to, and co-operate in respect of the observance of, any applicable international economic, financial or trade sanctions legislation.

26.1. We aim to provide you with a high level of customer service at all times but, if you feel dissatisfied, please contact us by emailing us at support@bikmo.ie or by writing or telephoning us using the following details;

David George
Bikmo GmbH
c/o WERK1
Atelierstraße 29
81671 München
Phone: +49 (0) 89 41209560

26.2. When dealing with your complaint, we will follow our complaint handling procures; a summary of these are available on request. If you are still not satisfied, you may be entitled to refer the matter to the Financial Services and Pensions Ombudsman.

26.3. You can also lodge a complaint with the Ombudsman in Germany where Bikmo GmbH is registered.

27.1. We are covered by the Financial Services Compensation Scheme (FSCS) and you may be entitled to compensation from the FSCS if we cannot meet our obligations. Full details and further information on the scheme are available at www.fscs.org.uk.