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Channel Insurance Brokers - Insurance

Terms of Business

  1. The Guernsey Financial Services Commission (GFSC)
    The GFSC is the regulatory body overseeing financial services in Guernsey and Channel Insurance Brokers Limited is licensed in the island by the GFSC. Further information is available on their website

  2. Whose products do we offer?
    We are an independent insurance intermediary, and we offer a range products and services from various insurers and third party service providers. We are not tied to a single insurance company or underwriter when arranging your insurances.

  3. Which service will we provide you with?
    We will advise and make a recommendation to you after we have assessed your insurance needs and researched the cover that may be required.

  4. What will you have to pay us for this service?
    Channel Insurance Brokers Limited usually receives a commission from theinsurer or underwriter on insurances placed with them. On certain occasions, premiums may be quoted excluding any commission and in such cases, a fee will be charged for the services we have provided. This fee will be negotiated and agreed with you as part of the tender or renewal process.

    Channel Insurance Brokers Limited reserves the right to charge additional fees or make administration charges, over and above the commission it receives from insurers at inception or upon the renewal of a client’s policy, as follows:-

    Charge
    a) "Returned" cheques due to lack of Funds £25.00
    b) Duplicate Cover Note, Certificate or Windscreen Insurance Disc £25.00
    c) An adjustment to a Personal Motor Policy necessitating the issue of a cover Note £10.00
    d) Channel Insurance Brokers aims to provide advice on the whole of a client’s insurance requirements. However where the following types of policies are written in isolation i.e. the client has no other policies with us, the following administration charges will apply on new business and on renewals.
    Charge
    Motor Insurance £15.00
    Household contents only, travel, marine, pet £10.00

    We also reserve the right to retain commissions and/or fees earned following policies being cancelled mid way through the policy year. Any Bank Interest earned on our Insurance Broking Client Account will be retained by us.

  5. What to do if you have a complaint
    If you wish to register a complaint, please contact us:

    in writing Write to the Managing Director, Channel Insurance Brokers Limited, PO Box 664, 4 South Esplanade, St Peter Port, Guernsey GY 1 3PZ
    by phone Telephone 01481 726971

    If you cannot settle your complaint with us, you may be entitled to refer it to the Guernsey Financial Services Commission.

  6. Your duty of Disclosure
    You must disclose all facts to an underwriter that may influence his decision to accept the risk or what level of premium is to be charged. Failure to do so may render your policy void. You must also advise us immediately of any change or alteration in risk that occurs during the policy period. If you have any doubt whatsoever contact us immediately for advice.

  7. Methods of payment
    By Cheque - Made Payable to Channel Insurance Brokers Limited

    By Cash - At The Office “Please do not send cash through the post”

    By Debit / Credit Card - 2% service charge applies to credit card transactions

Channel Insurance Brokers Limited, PO Box 664, 4 South Esplanade, St Peter Port, Guernsey. CI. GY1 3PZ
T: 01481 726971 F: 01481 723472 E: cib@channelinsurancebrokers.co.gg
Channel Insurance Brokers Ltd is licenced by the Guernsey Financial Services Commission to provide advice on General Insurance products