Terms of Insurance Business Agreement IDD | Romford | Romford Mazda

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Romford Mazda

​Terms of Insurance Business Agreement IDD (Initial Disclosure Document)

Romford Mazda 299-307 Collier Row Lane Romford ESSEX RM5 3ND​



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 only offer products from a limited number of insurers.

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


3. Which service will we provide you with?

We will advise or make recommendation for you after we have assessed your needs for Guaranteed Asset Protection, Extended Warranties, Tyre Cover and Credit Protection Insurance. We act as an agent of insurers.


4. What will you have to pay for our service?

We will not charge you a fee for arranging policies and there is no cancellation fee if you exercise your right to cancel the policy within 14 days of the inception date (30 days if arranged over the telephone or internet). This is not possible for commercial customers. Any client monies received by us , the intermediary, are subject to ‘Risk Transfer’ whereby the premium is transferred to the insurer.


5. Who regulates us?

Romford Mazda are authorised and regulated by the Financial Conduct Authority.

Our FCA Register Number is 310918.

Our permitted business is the sale of Motor Related Non-Investment Insurance Contracts, which we will present to you on the basis of your answers to questions relating to your vehicle purchase. These products are.Guaranteed Asset Protection, Extended Warranties, Tyre Cover and Credit Protection Insurance.

You can check our membership details on the FCA’s register by visiting the FCA’s website at http://www.fca.org.uk or by contacting the FCA consumer hotline on 0800 1116768


6. What to do if you have a complaint

If you wish to register a complaint, please contact us in writing addressed to Mr Amarjit Shokar, Romford Mazda, 299-307 Collier Row lane, Romford, Essex, RM53ND

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Hall, London E14 9SR.

Telephone: 0207 964 1000. Further information is available at: http://www.financial-ombudsman.org.uk/


7. Are we covered by The Financial 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 and circumstances of the claim.

Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit.

Further information about compensation schemed arrangements is available from the FSCS at : http://www.fscs.org.uk/

Your insurance is based upon information provided to the insurance company and you must ensure that all such information is complete and accurate, and that any facts that may influence the insurer’s decision to accept and pay a valid claim are disclosed.


Failure to disclose material information may invalidate your insurance cover and could mean that part, or all, of a claim may not paid.