Insurer’s interest in the monies held in such account will be subordinated to those of the Intermediary’s Client in accordance with CASS rules; or b) where the Intermediary does not hold Client Money, all monies and IPT must be held in trust for the Insurer in a segregated bank account with an approved bank (designated as an insurance broking account or insurance bank account) and may be co-mingled with other insurer monies in such bank account. The Intermediary will ensure at all times that such monies are easily identifiable as being held in trust for the Insurer. 9.2 Details of those products for which Insurers have not agreed for the Company to cascade risk transfer to the Intermediary are also detailed at www.yutree.com. For these products risk transfer occurs when the premium has been paid to the Company. Fees and Commission 10.1 The Intermediary will be responsible for the collection of the premium and will account promptly to the Company for the premium and any Commission and fees. 10.2 The Intermediary’s share of the total available commission will be allocated as set out in the Quotation as may be amended from time to time. 10.3 Insurance may be conducted on a gross premium or net premium basis as detailed in the Quotation. 10.4 The Intermediary will make the Client aware of all fees and charges, prior to inception of the contract of insurance and will be responsible for allocating such fees and charges from the premium income in accordance with the Quotation. Markets The intended market for any placement will be detailed in the Quotation and the Intermediary’s instruction to bind cover will be considered to be agreement to the proposed market along with all other terms and conditions laid out in the quotation. Claims 12.1 Claims, or circumstances which could give rise to a claim, are to be notified directly to the Insurers in accordance with the Policy. 12.2 The Company shall not be responsible for the wrongful non-payment or any delay in payment of any claim by an Insurer. 12.3 The Company will provide the Intermediary with such assistance as it may reasonably require with the claims process. 12.4 The Company will handle claims promptly and will keep the Intermediary informed of progress in a timely manner. Complaints
Insurer’s interest in the monies held in such account will be subordinated to those of the Intermediary’s Client in accordance with CASS rules; or b) where the Intermediary does not hold Client Money, all monies and IPT must be held in trust for the Insurer in a segregated bank account with an approved bank (designated as an insurance broking account or insurance bank account) and may be co-mingled with other insurer monies in such bank account. The Intermediary will ensure at all times that such monies are easily identifiable as being held in trust for the Insurer. 9.2 Details of those products for which Insurers have not agreed for the Company to cascade risk transfer to the Intermediary are also detailed at www.yutree.com. For these products risk transfer occurs when the premium has been paid to the Company. Fees and Commission 10.1 The Intermediary will be responsible for the collection of the premium and will account promptly to the Company for the premium and any Commission and fees. 10.2 The Intermediary’s share of the total available commission will be allocated as set out in the Quotation as may be amended from time to time. 10.3 Insurance may be conducted on a gross premium or net premium basis as detailed in the Quotation. 10.4 The Intermediary will make the Client aware of all fees and charges, prior to inception of the contract of insurance and will be responsible for allocating such fees and charges from the premium income in accordance with the Quotation. Markets The intended market for any placement will be detailed in the Quotation and the Intermediary’s instruction to bind cover will be considered to be agreement to the proposed market along with all other terms and conditions laid out in the quotation. Claims 12.1 Claims, or circumstances which could give rise to a claim, are to be notified directly to the Insurers in accordance with the Policy. 12.2 The Company shall not be responsible for the wrongful non-payment or any delay in payment of any claim by an Insurer. 12.3 The Company will provide the Intermediary with such assistance as it may reasonably require with the claims process. 12.4 The Company will handle claims promptly and will keep the Intermediary informed of progress in a timely manner. Complaints