Terms Of Service
In order to service our clients better and in the spirit of transparency and corporate governance, this term of services shall form the basis of the services, which we agree to provide to you. This will supersede and replace any previous agreement.
Our Commitments
- We are committed to create value for your organization through cost management in your premium, providing the appropriate coverage and risk management for your operations.
- We endeavor to promptly act on your request upon receiving your confirmation. We only accept written instructions from persons authorized by you. Coverage is only effective upon our acknowledgement, and conditioned on your acceptance of these Terms of Service.
- We will strive to provide you with options and recommendations to your insurance requirements. We acknowledge that each client have different needs and circumstances. Nevertheless, ultimately the choice of the scope and extent of cover to purchase rests with you, whether recommended by us, advised by us of the possibility of any cover or otherwise.
- We will be receiving remuneration for the insurance risks placed through us; such remuneration may be from insurers or third parties. If you have any concerns, please do not hesitate to contact your servicing manager.
- We will exercise reasonable professional care at all times. However, we will not be liable for failure or delay where it is beyond our reasonable control, or in connection with any omission (whether or information or otherwise) or provision of inaccurate information by you. Our limit of liability for any claim of any nature whatsoever shall be limited at 50,000 (fifty thousand) Singapore dollars or 5 (five) times the premium paid, whichever is lower. This limitation applies to all causes of action including breach of contract, breach of warranty, negligence, strict liability, misrepresentation and all forms of torts.
- We and/ or selected third parties may contact you to provide information about products and services that we think may interest you based on the information that we have collected and analyzed. If you have any concerns regarding this or do not wish to such receive such information, please kindly inform us.
- We will keep your policy document for a time frame we deem reasonable. We will then proceed to destroy them thereafter without further reference to you.
Your Agreement
- It is important that you disclose to us and your insurers all relevant and material information in an accurate manner regarding the risk in a timely fashion. Your declaration will form the basis of the insurance contract. Failure to make such material disclosure could result in the policy being rendered void.
- Please kindly refer to our Personal Data Protection Act disclosure on how we handle your personal data here.
- By using our services, you are agreeing to us or the potential insurer to collect and/ or review your claims statistics before the insurer/s can offer a quotation.
- Please refer to your policy schedule and docket as your final terms and conditions of your insurance cover.
- Please inform us of any inaccuracies and/ or issues within 14 days of receiving the policy and/ or statement of accounts. In the event that we do not hear any feedback, the policy and/or statement of accounts will be deemed to be accurate.
- Your policy will be placed with insurers, which are regulated by the Monetary Authority of Singapore (MAS). Please be informed that we are not the insurer of any risk and do not guarantee the availability or price of insurance for your particular risks. We also do not in any way guarantee the solvency of insurers.
- You are responsible for informing us and your insurer of any claims/potential claims within the notification period of your policy. Failure to abide by the notification period may result in your insurer declining your claim.
- All refunds may be subjected to administrative charge.
- Please be advised that you are required to make timely payments of premium in accordance to the Premium Payment Warranty as indicated in your policy and any other fees that we are entitled to before the commencement of your insurance policy. Failure to abide by this requirement may result in your insurer declining your claim.
- We reserve the right to offset your proceeds from any insurance cover against any outstanding payment due to us at our discretion.
- This agreement, which defines the terms of our relationship with you, will be governed by and construed in accordance with the Laws of Singapore and any dispute arising under it shall be subjected to the exclusive jurisdiction of the Courts of Singapore.
This TOS is valid as of 30th November 2014.
