BADN Initial Disclosure Document
British Association of Dental Nurses
PO Box 4, Room 200
Hillhouse International Business Centre
BADN Initial Disclosure Document.
The Financial Conduct Authority (FCA) is the independent watchdog which regulates financial services and this document explains how that regulation may affect you and the service provided.
When we took the decision that our members would benefit from the ability to obtain Professional Indemnity insurance as part of the full membership fee, we did so as your association and obtained tenders from leading providers.
During that market review, Parliament Hill Limited, a well-known arranger of benefits for associations, introduced us to an insurer called WR Berkeley Insurance (Europe) Limited (WRB). The scheme is now placed with that single insurer.
We became an appointed representative of Parliament Hill Limited, 127 Cheapside, London, England, EC2V 6BT, who is authorised and regulated by the FCA under registration number 308448. We only act as their appointed representative where we act for our members and that activity includes insurance introduction when insurance forms part of the benefit scheme and is FCA regulated. This is a non-advised service.
WRB asked Trafalgar Risk Management Limited (Trafalgar), 23 Hinton Road, Bournemouth, Dorset, England, BH1 2EF, to act as the arranger for the professional indemnity insurance. Trafalgar are authorised and regulated by the FCA under registration number 311662. Trafalgar also undertake some administrative work for the insurer and we assist with some of that work. When we do that we operate as an appointed representative of Trafalgar. We do that partly to keep the administrative costs down.
You can check this on the Financial Services Register by visiting the FCA’s website at www.fsa.gov.uk/register/home.do or by contacting the FCA on 0800 111 6768.
The professional indemnity is included as part of the full BADN membership fee subject to WRB accepting the risk described in your application form.
As the scheme is placed with one insurer, neither BADN, Parliament Hill nor Trafalgar provide any advice or recommendation with regards to the suitability of the indemnity insurance to meet your individual needs. You are recommended to read the policy wording, see if it meets your needs and also consider whether the insurance will offer you value for money and then you will need to make your own choice about how to proceed. Please note that the professional indemnity scheme forms part of the requirements for full BADN membership. You are applying directly to the insurer when you fill in the insurance application form and granting cover is subject to acceptance of your application form by insurers. There are no additional fees charged and any payments to Parliament Hill and Trafalgar for their services come from WRB.
If, at any time you want to raise a complaint in connection with a regulated activity, then if it involves something connected with the insurance scheme administration, please address your comments either:
- In writing, to: Feedback, Trafalgar Risk Management Ltd, The Lloyds
Building, 12 Leadenhall Street, London, EC3V 1PL
- By phone: Please call 0333 800 0000
If it concerns any other regulated insurance activity, please contact Parliament Hill at 127 Cheapside, London, England, EC2V 6BT or telephone them on 0207 710 9494.
If either Trafalgar or Parliament Hill cannot settle your complaint regarding their service, you may be entitled to refer it to the Financial Ombudsman Service.
All complaints will be acknowledged usually within five working days. They will then be investigated by someone not directly involved in the complaint and you will be sent a final response with an explanation. We are given 8 weeks to respond but we aim to be quicker than that.
Financial Services Compensation Scheme (FSCS)
Both Trafalgar and Parliament Hill are covered by the FSCS. You may be entitled to compensation from the Scheme if they cannot meet their separate 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. 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.