US Terms of Business

View EU Terms & Conditions Here

Please read this document carefully. It sets out the terms on which we agree to act for you and contains details of our statutory and regulatory responsibilities. Contact us immediately if there is anything in our Terms of Business, which you do not understand, or with which you disagree.

These Terms of Business shall be governed by and construed in accordance with English law. Any dispute regarding these terms shall be subject to the exclusive jurisdiction of the English courts. A person who is not party to these Terms of Business has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of these Terms of Business. We reserve the right to amend our Terms of Business in the future. If we have a separate Service Agreement with you then the terms of that agreement must be read in conjunction with these Terms of Business. If there are any additional specific terms that are relevant to your own circumstances, we will provide written notice of these before we conduct any business with you.

Loadsure UK Ltd is an Independent Managing General Agent and Intermediary.

As such we are authorised and regulated by the Financial Conduct Authority (FCA). You can check this by visiting the FCA website www.FSA.gov.uk/Pages/register or by telephoning the FCA on 0845 606 1234 quoting firm reference number 945414309344.

Loadsure UK Ltd is recommended, offered, and sold by Ursus Insurance Services. Underwritten by Argo Managing Agency on behalf of syndicate 1200 at Lloyds. Coverage is provided on a surplus lines basis by Argo Managing Agency. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.

As part of our commitment to providing an excellent level of service, we will comply with the FCA regulations relevant to a general insurance intermediary, which require us to:

Conduct our business with integrity, pay due regard to your interests and treat you fairly.

Conduct our business with due skill, care, and diligence.

Pay due regard to your information needs and communicate information to you in a way which is clear, fair, and not misleading.

Manage conflicts of interests fairly. These could arise between both you and ourselves and/or you and another Client.

Loadsure UK Ltd is a technology-based insurance solution offering “All Risk” coverage on an ad hoc or per load basis. The product contemplated herein encompasses completely digital on-boarding, risk assessment, underwriting, policy management, payments, digital claims handling, sales, and support. This product is cloud-based and accessed via Application Program Interface (“API”), allowing Load Boards and electronic platforms to integrate the Product into their Platform.

Non-advised – You will not receive advice or a recommendation from us. We may ask you some questions to narrow down the selection of products that we will provide information on, you will need to make your own decision on how you proceed.

Capacity – We act as your agent when sourcing a policy, placing the insurance and in the event of a claim, we are acting on behalf of the Insurer when we collect your premium, where this occurs in other circumstances, you will be advised at the time.

Before entering into a contract of insurance, it is your statutory duty to make a fair presentation of your risk.

This information must be provided in a clear and accessible format. You must disclose, where practical, all material circumstances about your risk, this being information that might affect the judgement of a prudent insurer in deciding whether to accept your risk or not – should you require additional explanation of what constitutes a material circumstance, please contact us immediately.

You must make reasonable enquiries before presenting your risk and ensure that all individuals holding knowledge about the risk have been approached in the compilation of this information. If you feel you have not been able to do so, please advise us, so we can allow underwriters to make further enquiries if they wish to do so.

You must complete any proposal forms or fact finds provided to you, honestly, accurately and in good faith. Any deliberate or reckless misrepresentation may involve part, or your entire claim being declined and in some circumstances; the Insurer may be entitled to retain your premium whilst avoiding the policy or apply additional terms to your policy.

We use all reasonable skill and care to protect your interests and monitor the security of the insurers with which we transact business using information available in the public domain. However, we can give no guarantee of the financial stability of insurers, and we accept no liability for any financial losses or increased costs suffered by you arising from their financial insecurity.

Our aim at Loadsure UK Ltd is to make the claims process simple and straightforward so that claims can be processed without delay. In the unfortunate event of loss or damage to goods which may involve a claim under our contract, immediate notice of such loss or damage should be notified to Loadsure UK Ltd as soon as possible so that we can act to assist you straight away. A new claim can be reported as follows:

To enable claims to be dealt with promptly, you or your Agents are required to complete our electronic First Notice of Loss (EFNOL) form. Loadsure UK Ltd.’s EFNOL can be found by logging in via loadsure.net or Loadsure UK Ltd.’s partners portal.

You will receive notification from Loadsure UK Ltd to advise you of your Reference Number. Our Agent will also advise whether a survey will be necessary together with what further information and documentation is required to process your claim. If a survey is necessary, our Agent will make arrangements for the same through their local agent/surveyor.

Contact our claims representatives directly on the toll-free number +1 720-336-1684 or send an email to claims@loadsure.net.

Client Money is any money of any currency received and held in the course of arranging or administering insurance on behalf of our clients.

Protection for Client Money is provided by holding all such amounts in a Non-Statutory Trust account. This is completely segregated from our own money and is subject to strict regulatory and solvency controls. Client Money is ring-fenced in the Non-Statutory Trust account so that it will be returned to Clients in the unlikely event of our company’s insolvency, and it cannot be used to reimburse other creditors. We are not entitled to use Client Money to take payment of our commission or fees before we receive the relevant premium from the Client concerned.

Client Money we receive will be deposited in a bank account with one or more UK approved banks, a list of which can be provided to you on request.

You must pay all monies due in cleared funds in accordance with the amounts and dates specified in our invoice(s). Failure to meet the payment date(s) may lead to insurers cancelling your cover.

We may transfer client money to third person, such as another broker, for effecting a transaction on your behalf through that person. This may include brokers or agents outside the UK. The legal and regulatory regime applying that person outside the UK may be different from that of the UK and in the event of a failure of that firm; this money may be treated in a different manner from that which would apply if an agent in the UK held the money. You may notify us if you do not wish your money to be passed on to a person in a particular jurisdiction.

All personal information about you will be treated as private and confidential. We are registered with the ICO as a Data Controller. We undertake to comply with the General Data Protection Regulation (GDPR) in all our dealings with your personal data. Your personal information will be kept secure. If you require more information on how we use your personal data, please refer to our privacy notice and contact us for other rights you may have under GDPR such as ‘Rights of Data Access’ etc.

Information which you provide to us will not be used or disclosed by us to other parties, except in the normal course of handling a contract of insurance or a claim on your behalf and any related activities, unless we have obtained the necessary consent from you or where we are required to by law or a regulatory body that has authority over us. We will take appropriate steps to maintain the security of your confidential documents and information which are in our possession.

The method of remuneration for our services is in the form of a percentage of the insurance premium paid and allowed by the insurer with whom the insurance is placed. The taxation element of any insurance premium is not subject to commission. In addition to commission payments and/or Client fees, we may receive remuneration by way of administrative fees or commissions for services provided to insurers.

Please be aware that current UK money laundering regulations require us to obtain adequate ‘Know Your Client’ information about you. We are also required to cross check you against the Global Sanctions Lists as part of the information gathering process. We are obliged to report to the Serious Organised Crime Agency any evidence or suspicion of financial crime at the first opportunity and we are prohibited from disclosing any such report.

The sanctions profile of different business(es) may differ on the basis of a number of complex factors, which may include ownership, structure, control, location, the nationality of employees. We are unable in any circumstances to give advice on the applicability of sanctions regimes either to you or to insurers nor can we guarantee or otherwise warrant the position of any insurer under existing or future sanctions regimes. As a consequence, you are reminded that applicable sanctions remain a matter for you, and you should take such legal advice as you deem appropriate in this regard. You should inform us of any insurance requirements you have which touch upon or are linked to sanctioned territories.

We will comply with all applicable sanctions regimes and legislation (whether currently existing or implemented in the future) and you are advised that where obliged by applicable sanctions legislation we may have to take certain actions which include but may not be limited to the freezing of funds held on behalf of parties and individuals caught under applicable sanctions. We cannot be held responsible for the actions of third parties (including but not limited to banks and exchange institutions) who may have their own sanctions policy restrictions and constraints.

In the circumstances where we feel we cannot continue providing our services to you, we will give you notice in writing and this will take effect from the date of receipt, unless otherwise agreed.

Unless otherwise agreed in writing, if our relationship ends, any transactions previously initiated will be completed according to these Terms of Business. You will be liable to pay for any transactions concluded prior to the end of our relationship and we will be entitled to retain commission and/or fees received for conducting these transactions.

Circumstances may arise where we may find we have a conflict of interest or otherwise have a material interest in or related to a matter in respect of which we are acting. For example, we may be asked to act on behalf of an insurer in the appointment of a loss adjuster; or we may find that the interests of two of the clients for whom we act conflict.

We have conflict management procedures, and we seek to avoid conflicts of interest but where a conflict is unavoidable, we will explain the position fully and manage the situation in such a way as to avoid prejudice to any party.

Whatever the circumstances, we will act in your best interests; and, if a conflict arises for which there is no practicable solution, we will withdraw unless you wish us to continue to act for you and provide us with your written consent to that effect.

It is always our intention to provide a high standard of service. If our service falls below the standard our clients reasonably expect and they have cause for complaint, we endeavour to ensure that at the appropriate stage the matter is handled fairly and promptly by a suitably senior and independent member of staff.

If you wish to register a complaint, then please contact the Compliance Officer in writing at:

Loadsure UK Ltd, Number One Minster Court, Mincing Lane, London, EC3R 7AA; or by telephone at +44 2072803133

If we cannot immediately resolve your complaint we will write to you within 5 business days of its receipt – our acknowledgement will include a copy of our complaints procedure.

If we are unable to settle your complaint, you may be entitled to refer it to:

The Financial Ombudsman Service, Exchange Tower, London E14 9SR

Telephone: 0800 023 4567 / Email: www.financial-ombudsman.org.uk.

Financial Services Compensation Scheme (FSCS) – We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business/circumstances of the claim. Further details are available by downloading the Protecting your Money FSCS Leaflet (PDF). — http://www.fscs.org.uk/uploaded_files/deposit-protection-material/fscs_l01_a5_screen1.pdf

Online Dispute Resolution (ODR) – As our policies are sold online through our website, you may also submit a complaint through the Online Dispute Resolution (ODR) platform http://ec.europa.eu/odr