Terms of business

These Terms of Business set out the basis on which Elm Risk Solutions Limited provides insurance services to you. They contain important information about our relationship with you, the services we provide and your responsibilities as a customer.

Please read them carefully. If there is anything you do not understand or do not agree with, please contact us.

By asking us to arrange, renew or administer insurance on your behalf, you agree to these Terms of Business unless you tell us otherwise.

About Elm Risk Solutions

Elm Risk Solutions Limited is registered in England and Wales under company number 17061709.

Registered office:
Vale House
Green Lane
Hadfield
Glossop
SK13 2DT

Telephone: +44 (0)161 457 3557
Email: contact@elmrisksolutions.co.uk

Elm Risk Solutions Limited is an Appointed Representative of Momentum Broker Solutions Limited, which is authorised and regulated by the Financial Conduct Authority.

You can check regulatory details using the Financial Conduct Authority’s Financial Services Register or Firm Checker.

Law and language

These Terms of Business are governed by English law and are subject to the jurisdiction of the English courts.

We will communicate with you in English and will provide contractual terms and conditions, together with any information we are required to provide before and during the term of your insurance contract, in English.

Our service

We will ask you questions to help us understand your circumstances, insurance requirements and existing arrangements.

After assessing your demands and needs, we will provide advice and guidance and recommend a suitable insurance policy based on our experience and the information you provide to us.

Our service may include:

• arranging and administering your insurance;
• providing advice and guidance;
• assisting with changes during the policy period;
• supporting you at renewal;
• helping you if you need to make a claim; and
• arranging replacement policy documentation where required.

We can act both on your behalf and as agent of an insurer. Unless we tell you otherwise, we will be acting on your behalf.

We have procedures in place to identify and manage any conflicts of interest that may arise.

If we use another insurance intermediary to place your insurance, we will provide you with appropriate information about the intermediary and insurer involved.

Our selection of insurers

We have access to a wide range of insurance providers.

Our approach will depend on the nature of your requirements and the risk being insured. We may approach a broad selection of insurers, a smaller panel, two or three insurers or, in some circumstances, a single insurer.

We will explain the basis of our selection as part of the process of arranging your insurance. You may also ask us for details of the insurers we approached on your behalf.

Your responsibilities

The information you provide to us forms the basis on which insurers assess your risk and decide whether, and on what terms, they are prepared to provide cover.

You must take reasonable care to provide complete and accurate information and answer questions honestly and to the best of your knowledge.

You should tell us promptly if any information changes or if there are changes in your circumstances that may affect your insurance.

You should also carefully review your policy documents, schedules and statements and tell us as soon as possible if anything appears incorrect or does not reflect your requirements.

Failure to provide complete or accurate information could affect your insurance and, in some circumstances, may result in a claim being reduced or declined or your policy being treated as invalid.

Confidentiality and data protection

We will treat information you provide to us as private and confidential and will process personal information in accordance with applicable data protection legislation, including the UK General Data Protection Regulation and Data Protection Act 2018.

We may need to share information with insurers, other insurance intermediaries, service providers and other relevant parties in order to:

• obtain quotations;
• arrange and administer insurance;
• process amendments and renewals;
• assist with claims;
• verify your identity;
• prevent and detect fraud; and
• meet our legal and regulatory obligations.

This may include searches or checks carried out by insurers or other relevant parties to confirm your identity and minimise the risk of fraud.

Further information about how we collect, use, share, retain and protect personal information, together with details of your rights, is contained in our Privacy Policy.

If you provide us with information about another person, you should ensure that you have their permission to do so and make them aware of our Privacy Policy.

Our fees, commission and charges

We will usually receive commission from the insurance provider with whom we place your business.

We may also receive commission for arranging finance agreements used to pay insurance premiums. This will usually be calculated as a percentage of the individual finance agreement and paid to us by the premium finance provider.

We may receive a commission or fee for introducing you to another professional firm or service provider.

In addition, we may charge you a fee for arranging or administering your insurance. Where a fee applies, we will tell you before your policy begins or renews.

For mid-term transactions, we reserve the right to charge a fee of up to £75.

You are entitled to ask us for information about commission we have received in connection with your insurance.

If an insurer returns part of your premium following the cancellation or alteration of your insurance, we reserve the right to retain commission earned where permitted.

Payment options

We will provide full details of the payment options available to you when we provide your insurance premium.

No money should be paid directly to Elm Risk Solutions unless you are specifically instructed to do so.

We cannot accept payment by cash or cheque.

Where applicable, monies should be paid directly into Momentum Broker Solutions Limited’s client account using the details shown on your invoice.

Premium finance

Momentum Broker Solutions Limited acts as a credit broker and not a lender.

If you choose to pay your insurance premium by instalments through a finance arrangement, your details may be passed to an insurer, lender or premium finance provider so that the arrangement can be set up.

The finance agreement is separate from your insurance contract and will be between you and the finance provider.

Interest and/or other charges may apply. We will provide details of these before you enter into the agreement.

It is important that you read the finance agreement carefully before agreeing to it.

If you fail to meet your payment obligations under a premium finance agreement, the finance provider may ask the insurer to cancel your insurance in order to recover outstanding amounts. You may also be responsible for costs or charges arising under the finance agreement.

Your insurance cover may therefore cease if you fail to maintain payments under an instalment agreement or premium finance facility connected to the policy.

Where you are a consumer and the relevant provisions of the Consumer Credit Act apply, you may have a 14-day cooling-off period in relation to the finance agreement.

Client money

Where client money is handled by Momentum Broker Solutions Limited, it will be held in accordance with applicable regulatory requirements or under a risk transfer agreement with insurers.

Momentum may hold client money in a non-statutory trust client bank account. This arrangement allows client money held in trust to be used in accordance with FCA client money rules to facilitate insurance transactions, including the payment of premiums, premium refunds and claims.

Client money cannot be used for purposes unrelated to customers’ insurance transactions.

Momentum does not pay interest to customers on premiums held while arranging and administering insurance.

Unless you tell us otherwise, you consent to client money being held in this way.

In arranging your insurance, we may use other intermediaries regulated by the Financial Conduct Authority and premiums may be passed to those intermediaries for payment to insurers.

Where we are required to pass premiums to a firm outside the UK, different client money protections may apply. We will provide relevant information where required. If you do not wish us to pass premiums to a firm outside the UK, please let us know.

Insurance Premium Tax

Your insurance premium will include Insurance Premium Tax (IPT) at the prevailing rate where applicable.

If the Government changes the applicable rate of IPT, your premium may be amended by the insurer to reflect the change.

Some policies or services may instead be subject to Value Added Tax (VAT). Where applicable, a change in the VAT rate may also affect the amount payable.

Renewals

Once we have arranged a policy that you have agreed to, the policy may not automatically be reviewed across the wider insurance market at every renewal unless you request this or we consider a review appropriate.

We will make reasonable efforts to contact you before renewal to obtain your instructions and establish whether your circumstances or insurance requirements have changed.

You should tell us about any relevant changes before renewal.

If we do not receive your instructions by the renewal date, we may, at our discretion and where appropriate, renew your policy based on our recommendation and the information already available to us in order to protect your position.

We also reserve the right not to renew your policy where we have not received your instructions.

It is therefore important that you provide any necessary information and renewal instructions in sufficient time before your existing policy expires.

Cancellation

Please contact us if you wish to cancel a policy that we have arranged for you.

Customers acting outside their trade or profession will usually have a legal right to cancel certain insurance policies within 14 days of receiving the full policy terms and conditions. We will tell you where a cancellation right applies.

Cancellation rights and any refund of premium will be subject to the terms and conditions of the relevant insurance policy.

A cancellation charge may also apply as described in the Our fees, commission and charges section above.

Where permitted, we reserve the right to retain commission earned in respect of the policy following cancellation.

Claims

If you need to make a claim, please contact Elm Risk Solutions as soon as possible.

We will assist you with the claims process and, where appropriate, liaise with insurers and other relevant parties on your behalf.

All claims remain subject to the terms, conditions, limits and exclusions of the relevant insurance policy.

Complaints

Our aim is to provide a first-class service. However, we recognise that there may be occasions when we do not meet your expectations.

If you are dissatisfied with any aspect of our service, please contact us as soon as possible so that we can try to resolve the matter.

You can contact Elm Risk Solutions in the first instance:

Elm Risk Solutions Limited
Vale House
Green Lane
Hadfield
Glossop
SK13 2DT

Telephone: +44 (0)161 457 3557
Email: contact@elmrisksolutions.co.uk

You may also contact:

The Complaints Manager
Momentum Broker Solutions Limited
Press House
Narborough Wood Park
Desford Road
Enderby
Leicester
LE19 4XT

Telephone: 0116 238 8880
Email: info@momentumsolutions.co.uk

If your complaint cannot be resolved within three working days, it will continue to be investigated and you will receive a formal acknowledgement.

We will aim to keep you informed during the investigation and provide a final response within the timescales required by the Financial Conduct Authority, normally no later than eight weeks.

If you are dissatisfied with the final response, or a final response has not been provided within eight weeks, you may be eligible to refer your complaint to the Financial Ombudsman Service for an independent review.

Financial Ombudsman Service
Exchange Tower
London
E14 9SR

Telephone: 0800 023 4567

Further information is available from the Financial Ombudsman Service.

A copy of the applicable complaints procedure is available on request.

Financial Services Compensation Scheme

We are covered by the Financial Services Compensation Scheme (FSCS).

You may be entitled to compensation from the FSCS if an authorised financial services firm is unable to meet its obligations.

For general insurance advice and arranging, eligible claims are generally protected at 90% of the claim, with no upper limit. Compulsory insurance is protected at 100%.

Eligibility and the amount of compensation available will depend on the circumstances of the claim.

Further information is available from the Financial Services Compensation Scheme.

Financial strength of insurers

We consider the financial standing of insurers and other intermediaries with whom we place business.

This may include considering financial ratings issued by independent rating agencies and other information available within the insurance market.

While we select insurers carefully, we cannot guarantee the ongoing financial strength or solvency of an insurer or intermediary.

Limit of liability

This section limits the amount that may be recoverable from us as a result of our negligence.

Nothing in these Terms of Business limits or excludes liability for death or personal injury caused by negligence or any other liability that cannot lawfully be excluded or limited.

Subject to this, our liability to you for the services we provide will not exceed £2,000,000 in connection with any one event or series of connected events.

Additional services

We may also provide or arrange additional services such as risk management assistance or health and safety services.

Where these services are not regulated by the Financial Conduct Authority, we will make this clear where appropriate.

Changes to these Terms of Business

We may update these Terms of Business from time to time to reflect changes to our services, business arrangements or regulatory requirements.

The current version will be available on our website.

Last updated: 13th August 2026