about our insurance services

145 Newgate Street
Bishop Auckland
Co Durham
DL14 7EN

1 The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide if our services are right for you.

2 Whose products do we offer?

[]
We offer a range of insurers for car insurance, house insurance, commercial vehicles, motorcycles, travel
[] We only offer products from a limited number of insurers for most other products.

Ask us for a list of insurers we offer insurance from.

[] We only offer products from single providers for certain specialised contracts.

3 Which service will we provide you with?

[] We will advise and make a recommendation for you after we have assessed your needs

[] You will not receive advice or a recommendation from us. 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.


4 What will you have to pay us for our services?


[] A fee of NIL for arranging the policy and providing advice provided the premium exceeds 50.00
[] A fee of 5.00 for arranging a policy if the premium does not exceed 50.00
[] A fee of 3.00 for each payment made by credit card. We do not charge for Debit card payments
[] A fee of 2% (minimum 10.00) to cover the work we have done should you decide to cancel any policy during the initial 14-day 'cooling off' period
[] A fee of 16.00 for processing any adjustment to your policy. This fee is payable when we have instructed the insurance provider or processed the adjustment. If the adjustment results in a return premium of less than 16.00 then the fee will be the return premium only.
(All fees will be deducted from the refund when received by the insurance provider and the balance paid to you)

[] A fee of 16.00 for reviewing your demands and needs at renewal of your policy and making our recommendation. This fee will be payable upon renewal of your policy or the inception of a replacement policy.
[] A fee of 28.00 should you wish to pay the insurance premium by instalments to us. The fee is spread over the instalments. We offer a maximum of 4 instalments (including the initial deposit) at monthly intervals.
[] We offer premium finance in many cases where the premium is paid by monthly direct debit. We do not charge for offering this facility but you may have to pay interest on the amount funded - typically 10%. We may receive a commission from the premium finance provider (typically 2%)
[] We are normally remunerated by commission paid by the insurance undertaking with whom we place your policy (and provide details on request). If we receive no commission we will charge a fee not exceeding 50.00 
[] If you cancel your policy after the fourteen day period we will make a charge comprising of  a fixed amount of 16.00, any fees and any commission that we have to refund to the insurance provider. 
[] You will receive a quotation that will tell you about any other fees relating to any particular product e.g. fees charged by the placing broker, before you accept the quotation.


5 Who regulates us?

B. Portwood & Co Ltd, 44 Medomsley Road, Consett Co Durham, DH8 5HA is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 300694

Our permitted business is insurance mediation in relation to non-investment insurance contracts.

You can check this on the FCA's Register or by visiting the FCA's website http://www.fca.org.uk/firms/systems-reporting/register 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 us:-

in writing

Write to B. Portwood & Co Ltd, 145 Newgate Street, Bishop Auckland, DL14 7EN
by phone Telephone 01388 607140

If you cannot settle your complaint with us, you may be entitle to refer it to the Financial Ombudsman Service

7 Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitles to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

Insurance advising and arranging is covered for 90% of the claim without any upper limit.

OR

For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim without any upper limit.

Further information about compensation scheme arrangements is available from the FSCS.