Terms of Business

Seven Insurance Brokers is a financial services group, offering independent advice to help its clients understand, protect and build their assets.

Seven Insurance Brokers offers products across the entire financial services marketplace, providing the widest possible choice. These services include Financial Planning, Life Insurance, General insurance, Employee Benefits and Corporate Protection services. All products and services offered are regulated by the Insurance Authority of the UAE.

1. Your Financial Planner

Your Financial Planner will provide initial and on-going advice. In the unlikely event of your Financial Planner leaving Seven Insurance Brokers, another planner will be appointed. Financial Planners are subject to a rigorous selection procedure and hold a range of national and international Financial Advisory qualifications

Financial Planners are required to adhere to a strict code of professional ethics, to include these principles:

  • i.) To conduct business with the utmost good faith and the highest standards of integrity always
  • ii.) To exercise due skill, care and diligence when dealing with clients and to provide advice objectively with respect to the needs and requirements of clients
  • iii.) To conduct their activities in accordance with the laws governing the jurisdictions within which they operate and to hold in the strictest confidence; and consider as privileged, all business and personal information pertaining to their clients.

2. Your Objectives

We will appraise your current financial situation through a full and comprehensive review service, to identify and prioritise your financial aims and objectives & to design an appropriate personal financialprogram.

3. Recommendations

You have the right to restrict us in the scope of any recommendation or research and to exclude specific providers, products or market areas. Where products are recommended, you will be provided with the relevant literature. Where these products contain investments, the risk and return levels of these products will be fully explained to ensure they match your requirements

Whilst every effort is made to ensure that advice is correct, we cannot be held responsible for subsequent changes in legislation or in circumstances where advice provided is ignored. Tax is a matter of personal responsibility and due to the complexities of different tax regimes; clients are always advised to seek professional tax advice. Seven Insurance Brokers does not and cannot accept liability for any country’s tax or legislative measures.

4. Non-Disclosure

It is important you ensure all statements you make on proposal forms, claim forms and other documents are complete and accurate. We cannot be held responsible for incorrect data held or in the event of non-disclosure, as this may affect the advice given.

5. Service

Seven Insurance Brokers has a dedicated team to ensure a high level of service is provided in all instances.

6. Communications

We request that you provide your instructions in writing to avoid possible misunderstanding. Any verbal instructions must be confirmed in writing. When we have arranged a product for you, we will contact you from time to time with information we believe may be relevant to your circumstances.

7. Client Records

The Company maintains a strict privacy policy and does not divulge information pertaining to Clients to a third party without their prior consent, other than to a company relative to the provision of this product / service. We maintain records of all business transactions for at least four years. You have the right to inspect copies of any printed or computer records relating to your transactions. We do, however reserve the right not to provide you with copies of records if, information relating to other parties would be disclosed as a result.

8. Fees

We are remunerated for these services by either fees or commission. Where remuneration is agreed in the form of a fee, the amount of the fee, its calculation and its method of payment will be provided in writing before any chargeable work is undertaken. Failure to pay fees for work carried out, voids all responsibilities of Seven Insurance Brokers to the client and will lead to legal proceedings to recover the debt in the country of the client’s residency.

We never handle cash for our clients, irrespective of currency and our Asset Managers cannot accept any form of cash payment for products / services, irrespective of a receipt of not.

9. Commencement of the Terms of Business

Your agreement to engage will be effective from the date that you sign this agreement.

10. Termination of Terms of Business

This Terms of Business Agreement will remain in force until such time as either party terminates it.

Termination of the Terms of Business Agreement can be notified to us in writing at any time. If at the time of cancellation, we are engaged in an incomplete transaction, we reserve the right not to complete the transaction and if appropriate, return all documentation to you in relation to that transaction.

I/We confirm that I/we have read, understood and hereby accept the Terms of Business for Seven Insurance Brokers and authorise the Company to undertake the insurance and/or investment business for us as clients of Seven Insurance Brokers.

© 2019 Seven Insurance Brokers. All rights reserved.