Terms of Business

We are Frontier (Frontier), Al Hijaz Towers, 6th Floor, Office No. 6, Mecca Street, Amman, The Hashemite Kingdom of Jordan; an independent insurance intermediary and financial advisor. Our postal address is PO Box 852253, 2nd Circle, 11185 Amman, Jordan.

We have been authorised and regulated by the Jordanian Insurance Commission (JIC); our permitted business is arranging general insurance contracts and independent financial advice. Our Registration number is 247/7/2015. These details can be checked by contacting the JIC on +962 (0)6 565 6327.

We are a privately owned investment and insurance intermediary. When we have an arrangement with a proposed insurer to our financial benefit beyond the remuneration we would normally receive, we will let you know. We will also advise you if we have any conflict of interests regarding the services we provide to you.

AAIB Insurance Brokers has arrangements in place with insurers in various countries, including the UK and the US. We have access to a range of general and life products, and hold some delegated authority. In some cases we will only approach one insurer for cover, based on our experience and product knowledge. Therefore in these cases comparative cover and price information will not be obtained.

We seek insurance only from insurers which meet our financial security criteria, unless we receive specific instructions from our clients to the contrary. However, we cannot and do not guarantee the solvency or continuing solvency of any insurer used. You should note that the financial position of an insurer can change after cover has been incepted.

Please read this document carefully. It sets out the terms on which we agree to act for you and contains details of our regulatory and statutory responsibilities. Please contact us immediately if there is anything in these terms of business which you do not understand.

We specifically draw your attention to the following sections:

• The Duty of Disclosure
• Premium Payment and Cancellation
• Client Money Arrangements
• Changes

We reserve the right to amend the Terms of Business as necessary, and if this happens we will issue a copy to you.

The law in the Hashemite Kingdom of Jordan and the UK, where most of our business is placed, requires prospective insured’s and their agents to disclose to insurers all “material information” before the contract is made. The obligation is not limited to material information of which they are aware; it extends to matters of which they ought to be aware in the ordinary course of their business or affairs.

Information and circumstances are material if they would influence the judgement of a prudent insurer in accepting a proposal or not, determining the scope of cover or setting the premium. Information may be deemed to influence the judgement of a prudent insurer and be material even if it would not necessarily have led him to decline the risk or to have set an increased premium. If there is any doubt whether information is material, it ought to be disclosed to insurers.

In addition, prospective and actual insured’s and their agents are obliged to act at all times towards insurers with utmost good faith. This means that both parties (insurer and insured) must enter into the contract in good faith and must disclose all relevant facts with the intent to carry out their respective obligations.

Any failure to disclose any material information to insurers or breach of the duty to act with utmost good faith may entitle insurers to avoid the policy of insurance from inception if the breach induced the making of the contract on the relevant terms. This means insurers would be entitled to act as if the policy had never existed.

The duty of utmost good faith and disclosure also apply to the claims process and to any situations during the period of the policy, as stated under the terms of the policy or otherwise. This includes an extension, amendment or renewal of any policy.

In completing a proposal form, claim form declaration or other document relating to an insurance policy, the accuracy and completeness of all answers, statements or other information remains the insured’s sole responsibility.

We invoice our clients for the premium due plus any charges or taxes which insurers collect in respect of the contract of insurance.

Insurers may include a premium payment condition as a term of the insurance. Failure to comply with the terms of this clause may result in insurers issuing a notice of cancellation; and failure to pay insurers the premium in full before the notice period expires will enable them automatically to terminate their obligations under the policy. We will inform you of any such requirements and the relevant date(s).

In some cases, insurers may impose a warranty under the terms of which the premium must be paid to them by a certain date; failure to comply with the exact terms of the warranty will enable the insurer automatically to terminate its obligations under the policy. Again, we will inform you of any such requirements and the relevant date(s).

Unless agreed in advance and specifically stated on our debit note to you, all premiums should be paid to us no later than 14 days from the invoice date. This is to allow us sufficient time to process payments and pass cleared funds to your insurers.

In the event of cancellation of the insurance contract after inception, insurers may return a pro rata premium to us; once our remuneration has been earned our brokerage fees will not usually be returnable. We therefore reserve the right to retain our brokerage or fees in full in such circumstances.

After getting details of your needs we will issue an Indication of Premium and Cover document to you. If you proceed, we will discuss with insurers to confirm that this indication will remain unchanged or not. If insurers require additional information, it is possible that the premium and / or cover may be amended and if this happens we will tell you, but you are not obliged to accept any revised terms.

We will issue documentation confirming the details of the policy purchased, including the identity of your insurers. We will advise you of the date(s) on which any premiums are due and, if relevant, the consequences of late-payment.

Where required by regulation we will also:

• include with your policy confirmation a statement setting out your demands and needs as understood by us;
• confirm whether the contract had been personally recommended and, if so, the reasons for making that recommendation;
• include a summary of the key features of your policy;
• provide you with renewal terms in good time before the expiry of your policy, or notify you that renewal is not being invited.

It is important that you:

• read all your documentation carefully and inform us immediately if you have any questions regarding this, or whether you feel that the insurance cover arranged for you does not meet your requirements; and
• keep your insurance documents in a safe place while your policy remains open to you to make a claim.

We may use information which we hold about you to provide our services to you, for credit control and market research purposes and to inform you about our services, legal developments or events which we believe may be of interest to you. We may share your personal information with other companies including overseas companies for any of the above purposes and with those with whom we arrange insurances on your behalf. We will take reasonable steps to ensure the privacy of your information. If you do not want us inform you about our services, legal developments or events which we believe may be of interest to you, please let us know in writing.

If a claim occurs or circumstances arise which may give rise to a claim, you should notify us at our office address as soon as possible. It will help if you are able to advise us of the reference number stated on your cover note or policy document. We will advise you what you need to do to pursue your claim; you should note that you will need to state all material facts concerning the claim.

We will provide you with assistance in submitting a claim and seeking to obtain a reimbursement. However, in the event that an insurer becomes insolvent or delays making settlement we do not accept liability for any unpaid claims. We will remit claims payments to you as soon as possible after they have been received by us on your behalf.

The method of remuneration for our services to our clients is normally either in the form of a proportion of the insurance contract premium, which is set by Underwriters and known as the commission or brokerage; or a fee previously agreed with you. We may also charge fees for specific services and if we do, these will be shown separately on invoices. Additionally we may earn income based on the volume or profitability of business placed with an insurer. We also reserve the right to charge for our services should you cease to be our client but wish us to continue to act on your behalf.

Client money is money that we receive and hold in the course of carrying on insurance mediation on behalf of our clients or which we treat as client money.

We keep client money with The HSBC Plc; it is separate from our own money and subject to a non statutory trust. This means that we are entitled to and may use client money held on behalf of a client to pay another client’s premium, before the premium is received from that other client. We can also pay claims and premium refunds to another client, before we receive payment from the insurer. We only take our remuneration from client money when we receive the relevant premium from the client.

Any interest or exchange gains realised from client money held by us will be retained by us.

We aim to provide a high standard of service. If you feel that our service falls below the standard that is reasonably expected, and wish to make a complaint then please contact the Compliance Officer in writing at our office address; or by telephone at +962 (0)6 550 3222; or by email at admin@frontier-insurance.com. We aim to ensure that complaints are handled fairly and promptly.

If we consider that your complaint is not with regard to our performance (for instance, if the complaint concerns the performance of your insurer), we will try to put you in contact with an appropriate person to whom your complaint may be addressed.

We have a formal complaints procedure which complies with JIC requirements. If we are unable to settle your complaint, you may be entitled to refer it to the Jordanian Insurance Commission, Insurance Supporting Services Supervision Department, P.O. Box 940829, Amman 11194, Jordan.

These terms of business shall be governed by and construed in accordance with Jordanian law. In relation to any legal action or proceedings arising out of or in connection with these terms of business we both irrevocably submit to the non-exclusive jurisdiction of the Jordanian courts.