Insurance Disclosure

The things between us

We are regulated

Yino Service Ltd, trading as ®MediPromise, registered at 27 Old Gloucester Street, London WC1N 3AX, is authorised and regulated by Financial Conduct Authority. Our FCA Firm Register Number is 833494. Our permitted business is advising on general non-investment insurance products.

The Financial Conduct Authority

The Financial Conduct Authority (FCA) is the independent watchdog that regulates financial services. Yino Service Ltd is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is xxx. You can check our status at www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA on 0800 111 6768. Our permitted business includes advising, arranging, dealing in and assisting with the placing and administration of general insurance policies as described below.

The Financial Services Compensation Scheme (FSCS)

We are covered by the Financial Services Compensation Scheme (FSCS). Insurance advising and arranging is covered for 90% of the claim, without an upper limit. Further information about compensation scheme arrangements is available from the FSCS.

What to do if You have a complaint

Our aim is to provide a first-class service, however, if You wish to register a complaint, please contact us by email to Ying Shi (Compliance Officer) at [email protected]

If You cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service, for an independent assessment and opinion. The FOS Consumer Helpline is on 0800 023 4567 and their website is at: www.financial-ombudsman.org.uk, or you can contact them by post at:  Financial Ombudsman Service, Exchange Tower, London E14 9SR.

Our offering

We offer products from a range of major insurers including health insurance, travel insurance, life insurance and critical illness insurance. We can offer advice and make recommendation for you after we have assessed your needs.

Claims

All incidents which could lead to a claim must be reported as soon as practicable. Your insurer’s claims contact number is shown in your policy.

Fees and charges

In addition to the premiums charged by insurers, we may charge a professional fee to cover the placing and ongoing handling of your insurance. The professional fees will be dependent upon the level of premium, service, administration, complexity, seniority of staff involved, scarcity of supply and operational factors. Professional fees will always be advised to you in advance and will be non-refundable in the event of policy cancellation.

From time to time depending on the work and risk involved it may be necessary to charge greater fees. The specific amount and purpose of any professional fee and administration charges will always be advised to you in advance. We earn the entirety of our commission and/or fees when your risk is successfully placed and take our commission and/or fees immediately upon receipt of payment unless agreed otherwise with your insurer. Upon the request of our clients we will disclose the remuneration that we receive from their Insurer which is included within the premium.

Our earnings

In return for placing business with insurers and/or underwriters and/or other product providers, we may receive a commission from them.

When we sell you a policy the insurer pays us a commission from the total premium that you are charged with. If the type of policy we sell reaches specific profit targets, the insurer may also pay us an additional bonus.

You are entitled, at any time, to request information regarding remuneration we may have received as a result of placing your insurance business or arranging premium finance.

Please be assured that at no time will the way in which we are remunerated conflict with our responsibilities to meet your needs and treat you fairly.

Money laundering / Proceeds of crime

We are obliged to report to the National Crime Agency any suspicion of money laundering or terrorist financing activity and we are prohibited from disclosing any such report.

Adequacy of insurance values

It is the responsibility of the insured to ensure that all insured sums and policy limits are adequate. Whilst we seek to assist in establishing and maintaining insured values and indemnity limits, we cannot accept responsibility for their accuracy. It is strongly recommended that the appropriate professional (e.g. Surveyor/Accountant) be consulted to ensure that the sums insured and limits under the policy are suitable.

Conflicts of interest

As insurance broker we generally act as your agent in advising you, arranging your insurance and assisting you in the event of a claim; we will always act honestly, fairly and professionally ensuring your best interests are our priority. In certain circumstances we may act for and owe duties of care to insurers and/or other parties. Where we become aware of any actual or potential conflict of interest with our duty to you, we will inform you of the situation, the options available to you and obtain your consent before we proceed.

Insurer security

The insurers we use are regulated and are required to have adequate capital resources. However, we cannot guarantee the solvency of any insurer we place business with. An insolvent insurer may be unable to pay claims or may be unable to pay them in full and you may have to pay a further premium to pay for alternative insurance cover.