Terms of Business - Regulated Products



1. These Terms of Business (the Agreement) set out the basis on which Hi Bob (UK) Limited will conduct insurance mediation services with you and on your behalf, as our client. This Agreement also contains details of our regulatory and statutory responsibilities. It is an important document and we ask you to read it carefully. Please contact us if there is anything in this Agreement which you do not understand or with which you disagree.

2. The terms of this Agreement come into force on acceptance and will remain in force until cancelled by you, or us, or replaced by a later version.

3. Hi Bob (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) under FRN 771527. You can check this on the Financial Services Register by visiting http://www.fca.org.uk/register or by contacting the FCA at 25 The North Colonnade, Canary Wharf, London E14 5HS or by telephone on 0300 500 0597.

4. Hi Bob provides a solution supporting corporations in managing their human resources and employee benefits. This Agreement only addresses the aspect of this solution under which we provide insurance mediation services, by introducing you to insurance companies and helping to arrange the provision of insurance benefits for your human resources. You should refer to your other agreements with us for the basis on which we provide our other services.

5. In this Agreement, the terms "Hi Bob", "we", "us" and "our" mean Hi Bob (UK) Limited and the terms "client", "you" and "your" means the legal entity named as the client party to this Agreement.


6. Hi Bob (UK) Limited acts on your behalf as your agent in obtaining quotes from insurance companies and arranging insurance policies with a limited number of such companies.

7. Hi Bob (UK) Limited is permitted to arrange transactions in relation to certain types of insurance products. The insurance products we arrange are those typically offered as employee benefits and include group risk and healthcare related schemes.

8. We will not provide you with advice or personal recommendations. In connection with arranging an insurance contract for you we may ask some questions to narrow down the selection of products that we will provide details on, but this will not constitute advice or a recommendation and you will need to make your own choice about how to proceed. If you require advice in the selection of financial products we can arrange to refer you to a suitably qualified adviser.

9. You acknowledge that in the event any of our employees assist you in the completion of any insurance application or policy proposal forms, that you will in any event continue to have full responsibility for the accuracy and completeness of the information contained in such forms.

10. The inclusion of incorrect information or omission of any material facts in an application for insurance may result in the insurance or policy to which the application or proposal relates, being adversely adjusted, made void and/or any claims(s) made against it being refused.

11. The insurance policies that we arrange on your behalf will be based on the information you have given us.

12. We will confirm our understanding of your instructions in writing by email in order to avoid any misunderstandings or disputes.


13. For the purposes of applying the FCA's rules and guidance on insurance mediation to you, Hi Bob will treat you as a 'commercial customer' and will accordingly apply the FCA's rules and guidance to you based on your status as a 'commercial customer'.

14. For the avoidance of doubt, a 'commercial customer' is defined in the FCA's rules as "any customer who is not a 'consumer'", and a 'consumer' is defined in the FCA's rules as "any natural person who is acting for purposes which are outside his trade or profession".


15. Where requested we will obtain quotations on your behalf using the information that you supply us with and arrange cover if you instruct us to do so.16.We cannot be held responsible for the information held on your file being inaccurate due to you failing to inform us of a change of your circumstances.17.Where we arrange a group insurance policy for you, we will provide summary information and will provide links to the insurance companies' detailed information about the product and the related processes.18.Where we arrange insurance cover for you, we will not carry out a subsequent periodic review of that insurance cover, unless and until you subsequently request us in writing to do so.


19. We are remunerated by commissions which are paid to us by the insurance companies whose policies we arrange.

20. In good time before the conclusion of an insurance contract, or upon renewal, we will remind you of your right to be informed of the level of commission which we receive from underwriters. You are entitled, at any time, to request information regarding any commission which we may have received as a result of placing your insurance business.


21. We will not have any duties to you and will not be obliged to provide any assistance to you in connection with any claims you may have pursuant to an insurance policy you enter into. You should consult your terms with the relevant insurance company to understand what steps you should take in connection with such a claim.

22. You will be responsible for notifying claims or circumstances (potential or actual) that may give rise to a claim to the relevant insurance company. To ensure full protection under an insurance policy you enter into you should familiarise yourself with the coverage conditions and procedures relating to claims and to the notification of claims. Failure to adhere to the notification requirements, including any time limits, as set out in any such insurance policy or other documents you may be provided with, may entitle an insurance company to deny your claim. In presenting a claim it is your responsibility to disclose all facts that are material to the claim.


23. We do not hold or otherwise handle client money. You are responsible for both making the payment of any insurance premium monies directly to the insurance companies we introduce, and organising the direct payment to you by any such insurance company of any claim monies owed to you.


24. We will make arrangements for policies and/or contracts we arrange on your behalf to be registered in your name unless you first instruct us otherwise in writing.

25. We do not have an obligation to forward to you the documents showing ownership of your policies and/or contracts prepared by the insurance companies with whom we arrange cover on your behalf as your agent.

26. It is our practice to keep records of the transactions we arrange on your behalf for a reasonable period, which will normally be at least six years, either electronically or in paper form. Thereafter, we may destroy such records without further reference to you unless we have agreed that we will continue to store them.27.You agree to us recording telephone calls and meetings. In the event we do make such recordings, our reason for doing so will be for training and quality control purposes so as to improve our overall services that we provide to our customers. We reserve the right to retain records of such recordings in accordance with clause 25 of this Agreement.


28. We subscribe to the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This will depend on the type of business and the circumstances of the claim. You will find up-to-date details of the FSCS’s compensation limits, eligibility and details of how to make a claim on its website www.fscs.org.uk. 


29. Should you have a complaint about the advice you receive or a product you have bought please write to or call the Compliance and Governance Director at Hi Bob (UK) Limited at 2-4 Great Eastern Street, London EC2A 3NW Telephone: 0203 865 0258

30. You may be eligible to refer a complaint to the Financial Ombudsman Service at: South Quay Plaza, 183 Marsh Wall, London E14 9SR or www.financial-ombudsman.org.uk


31. The cancellation rights for each individual policy that we arrange for you will be explained to you at the time we issue you with quotations. 


32. No insurance company, from whom we obtain quotes or arrange insurance policies acting on your behalf as your agent, currently has a material interest in Hi Bob. Occasions may arise from time to time where we, or one of our other clients, will have some form of interest in business which we are transacting for you. If this happens, and we become aware that our interests or those of one of our other clients conflict with your interests, we will inform you in writing and obtain your consent before we carry out your instructions. There may be occasions where we are unable to act for one of the parties.

33. As a consequence of such potential conflicts arising, we have put in place arrangements to ensure our clients are treated fairly. We have also implemented a ‘conflicts of interest’ policy to help us manage such risks, which you may access on request.


34. You or we may terminate our authority and/or this Agreement to act on your behalf at any time without penalty. Notice of termination must be given in writing and will take effect from the date of receipt. Termination is without prejudice to any transactions already initiated which will be completed according to this Agreement unless otherwise agreed in writing. You will be liable for transactions made prior to the date of termination, and for any premiums which may be outstanding at that time.


35. You acknowledge and understand that you have provided us with access to information about your company and your employees, including personal information.You consent to us using this information as needed to arrange your insurance needs. We confirm that this information will not be used or transferred to any other firm, company, entity or person other than the insurance companies and/or employee benefits adviser with whom we have partnered for the purpose of providing you and your employees with quotes for insurance benefits and except as may be required by law. We may also provide information to the FCA upon request. 

36. Where business services are provided to us by third parties, circumstance may arise which warrant the disclosure to them of more than just your basic contact details. On these occasions, such as processing business, or obtaining compliance and regulatory advice, you agree that personal information held by us may be disclosed on a confidential basis, and in accordance with the Data Protection Act 1998, to such third parties. You agree that such information may be transferred electronically. You also agree that we or any such third party may contact you in future by any means of communication which we or they consider appropriate at the time.You confirm to us that you have all relevant consents to allow us to share that personal data with those third parties.


37. We are required to verify your identity in accordance with the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2007. We reserve the right to approach third parties and to delay any of your applications until adequate verification of identity has been obtained.


38. You agree to indemnify us in relation to any costs, expenses, liabilities, losses, proceedings or claims which we incur directly or indirectly as a result of our acting under this Agreement save that this indemnity shall not apply to the extent it arises out of our negligence, fraud, breach of this Agreement or our regulatory responsibilities. 

39. We shall not be liable to you for any indirect or consequential loss, damage, or expense, or for any financial penalty or fine, or for any special, exemplary or punitive damages or for any loss of profit, business, revenue, or goodwill or for any anticipated savings or benefits which have not materialised. Nothing in this paragraph shall limit or exclude our liability for:

  • (a) death or personal injury caused by our negligence or that of our employees acting in the course of their employment;

  • (b) any fraud or fraudulent misrepresentations made by us; or

  • (c) any other liability which by law, regulation or FCA rule cannot be excluded.



40. Where a formal written notice is required by this Agreement then it shall be in writing which includes email to the registered email address of Hi Bob (UK) Limited and of the Client signatory and deemed effective two business days after posting.


41. We reserve the right to amend this Agreement at our discretion on two weeks written notice to you. If you do not agree with amendments proposed you may terminate our appointment under this Agreement.


42. You may not assign this Agreement. 

43. We may, after having given you two weeks’ prior written notice, assign our rights and novate our obligations under this Agreement to any person to whom we transfer our business, provided that the assignee:

  • (a) is appropriately regulated to provide the services to you described in this Agreement; 

  • (b) is assessed objectively as part of the business transfer process to be in a position to provide continuity of service without prejudice to you; and

  • (c) undertakes in writing to be bound by Hi Bob's obligations under this Agreement. 


44. Where you are a director or officer of a corporation or LLP requiring services you warrant to us that you have full authority to act on behalf of the same and there are no restrictions on the limits of your authority or the scope of our services of which we have not been made aware. 

Governing law and jurisdiction

45. This Agreement shall be governed by and construed according to English law. Any disputes shall be determined in the jurisdiction of the English Courts.


46. By indicating acceptance of these terms in the Hi Bob software application you confirm that you understand and consent to the terms of this Agreement. 

47. You authorise us to liaise with your professional advisers and other financial intermediaries in obtaining and exchanging relevant personal information as necessary in order to enable us to provide our services under this Agreement and to rely on any such information provided. 

48. We agree that this Agreement will come into effect from the date on which you indicate acceptance in the Hi Bob application.