How do FSA rules affect Dealers?
As you will be aware, Regulations for Insurance intermediaries came into force on the 14th January 2005. You will be pleased to hear that your responsibilities as a dealer have not changed. You can promote the services offered by Bennetts in connection with the sale, arrangement and administration of Motorbike Insurance by displaying and distributing advertising materials and business cards provided by Bennetts and by referring clients to the Bennetts web site. You are not authorised to offer any advice on behalf of Bennetts in connection with any insurance beyond recommending Bennetts as an intermediary who are able to arrange Motorbike Insurance.
Please refer to your terms and conditions, Section 1 'Duties of the Dealers'. If you have any questions do not hesitate to contact us on 01733 374 640.
How many insurers do you search to get the best price?
We are supported by 13 underwriters offering 19 different schemes. Most schemes cover a wide range of risks, however we have a bespoke scooter product. The majority of our schemes are bespoke and exclusive to Bennetts, which gives us an edge over our competition not only in pricing but also in cover.
How will you pay me my commission?
You can choose how you receive your commission. We can either send you a cheque in the post or pay you via a BAC's transfer straight into your bank account. Please advice which method you would prefer at the time of requesting your dealer pack.
When will you pay me my commission?
Commission is paid after the referred policy has been in existence for 30 days and is then paid at the end of the following month. For example, a policy taken out by a referred customer on February 1st would result in a commission payment in April.