Common use of Client Money Clause in Contracts

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank account.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recievedreceived, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank account.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during In the course of our dealings such as premium paymentscarrying on insurance distribution activities, premium refunds and claim paymentsWe handle client money in accordance with the FCA’s Client Assets Sourcebook (CASS) rules, which are designed to protect You. This A copy of these rules is available on request. We handle client money will be held in either as agent one of the insurer or agent following ways: • It is held on Your behalf in a segregated bank account that is subject to a non-statutory trust. The aim of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you You in the event of our Our financial failure, or the failure sinceof the bank or a third party at which the money may be held. In such a circumstance, in such circumstances, our Our general creditors would (or those of the bank or third party) should not be able to make claims on client money, as such money as it will not form part of our assetsOur (or the bank’s or third party’s) property. Coversure Insurance Services Limited The fact that We will hold all client monies with one or more approved banks, as defined by money on trust gives rise to fiduciary duties which will be owed to You until the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rulesreaches the insurer, at which time Our fiduciary duties with regard to Your money will cease. Under these arrangementsBy holding client money subject to a non-statutory trust, Coversure Insurance Services Limited assume responsibility for such monies We are entitled to and are permitted to, and may: • Use such monies received on behalf may make advances of one customer credit from the trust to pay another customerenable a client’s premium, premium obligation to be met before the premium is received from that other customerremitted to Us. HoweverSimilarly, we are not entitled it allows claims and premium refunds to pay ourselves commissions before we receive the relevant premium be paid from the customer; trust to a client before receiving remittance of those monies from the insurer. • For the purpose of effecting a transaction on your behalf, pass your Risk transfer applies where money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event is held by Us as agent of a failure relevant insurer in accordance with a written agreement with that insurer. The written agreement will specify the extent to which risk transfer will apply and whether it includes all items of money or is restricted; for example, to the intermediaryreceipt of premiums. Where risk transfer applies, this money may You will be protected to the extent that any premiums We receive from You are treated as having been received by the insurer. Where the agreement extends to premium refunds and/or claims, any premium refunds or claims will be treated in as received by You only when they are actually paid to You. Client money is kept separate from Our own money. Client money will be deposited into a different manner from that which would apply if the money were held by client bank account with an intermediary in the UKauthorised UK clearing bank. Please inform us if you do not agree to this. • Retain for our own use, any Any interest earned on client money. Unless we receive your written instruction money that is subject to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Nona non-Statutory Trust bank accountstatutory trust will be retained by Us.

Client Money. In the course of carrying on insurance distribution activities, We are do not authorised to handle client money; any payments received . This will be handled on Our behalf by UKGlobal Broking Group Limited (‘We’, ‘Our’, ‘Us’ for the remainder of this clause only) in accordance with the FCA’s Client Assets Sourcebook (CASS) rules, which are designed to protect You. A copy of these rules is available on request. We handle client money in either one of the following ways: The fact that We will hold money on trust gives rise to fiduciary duties which will be owed to You until the client money reaches the insurer, at which time Our fiduciary duties with regard to Your money will cease. By holding client money subject to a non-statutory trust, We are entitled to and may make advances of credit from you or which need the trust to enable a client’s premium obligation to be refunded met before the premium is remitted to youUs. Similarly, it allows claims and premium refunds to be paid from the trust to a client before receiving remittance of those monies from the insurer. Where risk transfer applies, You will be held protected to the extent that any premiums We receive from You are treated as having been received by Coversure Insurance Services Limitedthe insurer. Where the agreement extends to premium refunds and/or claims, any premium refunds or claims will be treated as received by You only when they are actually paid to You. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim paymentskept separate from Our own money. This Client money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been paid to the insurer. The FCA require that all deposited into a client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rulesan authorised UK clearing bank. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any Any interest earned on client money. Unless we receive your written instruction money that is subject to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Nona non-Statutory Trust bank accountstatutory trust will be retained by Us.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are recievedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, ; our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Non- Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer.; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services LimitedLimited (“CISL”). Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recievedreceived, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited CISL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited CISL assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our CISL’s Non-Statutory Trust bank account.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services LimitedLimited (“CISL”). Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. .This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recievedreceived, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited CISL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Non- Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited arrangements CISL assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our CISL’s Non-Statutory Trust bank account.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, 15.1 Any cash held in your portfolio will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rulesrules in one or more segregated accounts with a carefully selected banking institution. Under these arrangementsClient money accounts may include the balances of more than one client. Client money may also be placed on overnight or short-term deposit. We will act in good faith and with due diligence in the selection and monitoring of banks holding client money. Where relevant you will be responsible for any additional income tax liability which may be incurred on any interest earned on cash balances with us. 15.2 When considering which banking institution to use, Coversure Insurance Services Limited assume responsibility we will exercise due skill, care and diligence and will periodically review the adequacy and appropriateness of any bank or credit institution where your money is deposited and of the arrangements for such monies holding your money. It is important to note that we are not responsible for any acts, omissions or default of a credit institution or bank chosen by us. 15.3 Your money is handled and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customerheld with UK financial institutions. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your may operate client money to another intermediary, including those resident accounts outside the UK who would therefore be subject to UK. In the event we do so please note that: a) different legal and regulatory regimesprovisions will exist outside the UK and the protections may not be equivalent to those available in the UK. In the event of that a failure bank located outside of the intermediaryUK defaults, this fails or otherwise unable to meet its obligations, money held on behalf of clients may be treated differently than if the money was held in the UK; b) we will only hold client money in an account outside the UK where the relevant bank has confirmed that all money standing to the credit of the account is held by us as trustee acting on your behalf and that the bank is not entitled to combine or set off the account in respect of any money owed to it on any other account held by us with it, whether in our name or not. 15.4 Client money may be passed by us to a settlement agent in a jurisdiction outside the UK. If the settlement agent defaults, fails or is unable to meet its obligations, client money may be treated in a different manner differently from that the position which would apply if the money were was held by an intermediary in the UK. Please . 15.5 We reserve the right to only make external payments to and to accept payments from the bank account stated in your Account. 15.6 We are not obliged to inform us you if we change our Client Bank Account, however we will advise you do not agree to this. • Retain for of our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into amended bank details via our Non-Statutory Trust bank accountwebsite.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received we receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement we have in place with each insurer. Where money is held as agent of the insurer, this means that when we have received your cleared premium funds are recievedpremium, the premium it is deemed to have been paid to the insurer. We pay ourselves commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires us to hold all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, ; our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited We hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited we assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-Non Statutory Trust bank account. Without affecting our fiduciary duty to you we are entitled to transfer client monies to an identical bank account held in the name of any Affiliate for so long as such company remains an Affiliate. In accordance with the FCA rules, we may arrange to hold permitted designated investments with a value at least equivalent to the money that would otherwise have been paid into a separate client account. If we do this, we will be responsible for meeting any shortfall in our client money funds which is attributable to falls in the market value of those investments. Any interest earned on client money held by us and any investment returns on any segregated designated investments will be retained for our own use. Between receiving any money from you and us passing it to insurers, and vice versa, we may remove it from the trust account in which it is held, to another account to earn interest or other investment income from it. In such an event the account in which it is placed will be set up with the same trust protection as the account from which it is removed. To improve the efficiency of our business and maintain the right protection to you we may wish to transfer your money between companies within the Ardonagh Group, including between entities that are regulated by the FCA. In such circumstances we may transfer any money we hold on your behalf to a new bank account with the same trust protections as the existing account to ensure that the protection afforded to your money always remains in place. If bank account details are changed, you will be advised.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are recievedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, ; our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer.; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when we have received your cleared premium funds are recievedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, ; our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys into our Non-a BNL Non Statutory Trust bank account. Without affecting our fiduciary duty to you BNL are entitled to transfer client monies to an identical bank account held in the name of any Affiliate for so long as such company remains an Affiliate.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are recievedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, ; our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer.; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account. Insurer Security Whilst we make every effort to place your insurances with insurers that are financially sound we do not guarantee or otherwise warrant the solvency of any insurer we place your insurances with. If you have any concerns regarding any insurer chosen to meet your insurance requirements you should inform us as soon as possible and we will discuss them with you. A liability for the premium, whether in full or pro rata, may arise under policies where a participating insurer becomes insolvent. Termination of this TOBA You or we may terminate our authority to act on your behalf by providing at least 14 days’ notice in writing (or such other period we agree). Termination is without prejudice to any transactions already initiated by you, which will be completed according to this TOBA unless we agree otherwise in writing. You will remain liable to pay for any transactions or adjustments effective prior to termination and we shall be entitled to retain any and all commission and/or fees payable in relation to insurance cover placed by us prior to the date of written termination of our authority to act on your behalf.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are recievedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, ; our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer.; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account. Without affecting our fiduciary duty to you BNL are entitled to transfer client monies to an identical bank account held in the name of any Affiliate for so long as such company remains an Affiliate.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are recievedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, ; our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Non- Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer.; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account. Without affecting our fiduciary duty to you BNL are entitled to transfer client monies to an identical bank account held in the name of any Affiliate for so long as such company remains an Affiliate.

Client Money. We are not authorised All Client Money received or held on your behalf as a result of the administration of the Service shall be the responsibility of the Broker. The following provisions of this clause 3 apply to handle client money; any payments received from you or which need to be refunded to you, your money held by the Broker. It will be held by Coversure Insurance Services Limiteddeposited with a bank, which for Client Money purposes meets the FCA’s requirements. As regards that money: (a) By using the Service, you authorise us to pool any Client money is money that is received and held Money we hold on your behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event provision of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust this Service into bank account accounts set up in accordance with the FCA Rules on client money ruleswhich also holds money of other clients. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies You retain all rights you have as the legal owner of the monies. (b) All Client Money that the Broker holds on your behalf as a consequence of administering this Service will be maintained in an appropriately designated and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before named client money bank account at an approved bank (in the premium UK or elsewhere in the EU) selected by the Broker. Your cash held in this account is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium held separately from the customer; • For Broker’s money. (c) Computershare will not hold any of your Client Money. The Broker will hold your Client Money, along with the purpose client monies of effecting a transaction on your behalfother customers for whom the Broker is acting for, pass your money to another intermediary, including those resident outside in strict accordance with the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure requirements of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned FCA Rules on client money. Unless This means that in the event that the bank became insolvent the Broker will attempt to recoup your money on your behalf. If the bank cannot repay all the money it owes its clients this could result in a shortfall. The Broker will treat money held in client money bank accounts as pooled, which means that any shortfall will be shared proportionally with other shareholders and other customers of ours. You may not recover all of your Client Money. In this situation, you may be eligible to make a claim under the FSCS or another EEA scheme (where the client money is held at a bank in another EEA state outside the UK). For more information, please see clause 21(c). (d) For operational purposes the Broker may maintain your Client Money in a bank based in a jurisdiction outside the UK. If the Broker does maintain the money in a bank account with a bank not based in the UK, then the Broker will take all reasonable steps to protect the Client Money in accordance with the local equivalent law and rules for the treatment of client money. These may be different to those in the UK and your rights in the event of insolvency of the bank may be reduced. (e) We will not pay interest on any Client Monies held on your behalf. (f) The Broker will be responsible for receiving dividends, interest payments and other income payments accruing to your investments; a. the Broker may use other parties to complete your transactions and in such circumstances will be acting as your agent. In these circumstances Computershare will remain responsible for ensuring its obligations under these Terms and Conditions are performed; and b. if we receive your written instruction a payment for a tax adjustment of a dividend relating to an investment we will send you the contrarypayment. (g) You agree that, in the event of us transferring all or part of our business to another provider, we shall can cease to treat receipt your cash balance as client money when that transfer has been made. We will ensure that the new provider is authorised by the FCA before any transfer of payment Client Money is made. (h) If your Client Money held by us is £25 or less (or equivalent) and there has been no movement in your balance for at least six years (disregarding any payments, charges or similar items), we may cease to treat your money as Client Money and remove it from the client money bank account(s). Before doing this, we will write to you at your last known email or postal address giving you at least 28 calendar days’ notice of our intention to cease to treat the money we hold for you as Client Money and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to remove it from the payment of those moneys into our Non-Statutory Trust client money bank account. If no claim is made by you by the end of the notice period, we will pay this money to a registered charity of our choice but still retain a record of the balance we were holding for you. If you later claim this balance, you will not be entitled to any interest which would have otherwise accrued on this money during the period over which it was unclaimed by you.

Client Money. We are not authorised to handle client money; any payments received from f rom you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial f inancial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from f rom that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from f rom the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from f rom that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from f rom you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank account.

Client Money. We are not authorised to handle client moneym ▇▇▇▇; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim paymentspaym ents. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recievedreceived, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client clien t money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted perm itted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customercustome r; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediaryinterm ediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary interm ediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank account.

Client Money. We hold premium and claim monies (‘client money’) subject to a non‐statutory trust. This means that, in accordance with the Client Money Rules, as a short‐term credit facility We are not authorised entitled to handle and may use client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been paid to the insurer. The FCA require that all one client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customerclient’s premium, premium before the premium is received from that other customerclient, and to pay claims and premium refunds to another client before We receive payment from the insurer. However, we We are not entitled to pay ourselves use client money to take commissions before we We receive the relevant premium from the customer; • For you. We keep client money separate from Our own money and any interest earned on client money held by Us shall be retained by Us. In instructing Us to proceed with your insurance placement your consent to Us holding your premium and claim monies in a non‐statutory trust is deemed to have been given. You further agree that We may transfer client money to another party, such as another broker, introducer, agent, appointed representative or settlement agent, for the purpose of effecting a transaction on your behalf, pass your money behalf through that party. For the purpose of this Agreement We will refer to another intermediary, including those resident these other parties as ‘Third Parties’. This may include ‘Third Parties’ outside the UK. The legal and regulatory regime applying to a ‘Third Party’ agent outside the UK who would therefore may be subject to different legal and regulatory regimes. In from that of the UK and, in the event of a failure of the intermediary‘Third Party’, this money may be treated in a different manner from that which would apply if the money were held by an intermediary a ‘Third Party’ in the UK; We can accept no responsibility for any loss that may arise as a result of such different treatment. Please inform us You must notify Us in advance if you do not agree wish your money to thisbe passed to a person or jurisdiction, however this may affect Our ability to select an insurer for you. • Retain for our own use, any interest earned on client moneyWe have in place agreements with certain insurers whereby the credit risk in respect of all premium and claims payments to or from such insurers is assumed by such insurers. Unless we receive your written instruction This “risk transfer” arrangement means that premiums paid by you to Us are deemed upon receipt by Us to be paid to the contraryinsurer. However, we shall treat receipt of payment from you claims payments or return premiums paid by the insurer through Us are not be deemed paid until received by you. Under such risk transfer arrangements, premium payments held by Us are protected if We enter insolvency proceedings, and of any claim payment and/or refund of the insurers will be deemed paid if, at the time We are holding your premium, the insurer enters insolvency proceedings. With all other insurers with which We have no risk transfer arrangements, We settle premiums and claims entirely as your agent and premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank accountor claims payments are not deemed made until paid or received by Us.

Client Money. We are not authorised to handle client moneym ▇▇▇▇; any payments paym ents received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim paymentspaym ents. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. insure r. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client clien t money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted perm itted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediaryinterm ediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary interm ediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank account.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is any money that is received we receive and held on behalf of our clients during hold in the course of our dealings such arranging or administering insurance on your behalf, or which we treat as premium paymentsclient money, in accordance with the FCA Client Assets sourcebook (CASS). Such monies shall include: • premiums paid by you to us for onward payment to insurers; and • premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been claims paid to the insurerus by insurers, for onward payment to you. The FCA require that We provide protection for your money by holding all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust Client Money Account (Client Account), with one or more FCA approved bank(s) in the UK. Such monies may be held by us in bank account accounts maintained outside of the UK and shall be received and handled in accordance with the FCA regulatory and legislative requirements of those countries, which will be different from that applicable in the UK and, in the event of a failure of the bank, such monies may be treated differently than if the client money ruleswas held by a bank in the UK. Where you do not wish your money to be passed to a particular bank, you should tell us. This money is segregated from our own money and CASS requires us to ensure client money is protected by requiring us to maintain the solvency of the Client Account and conduct regular reconciliations of all transactions. In the unlikely event of our failure, client money is available to our clients ahead of other creditors. Under these arrangementsCASS, Coversure Insurance Services Limited assume responsibility money received and held in the Client Account from one client may be used for such monies and are permitted to, and may: • Use such monies received on behalf the payment of one customer to pay premium or claims for another customer’s premiumclient, before the premium is received from that other customertheir monies are received. HoweverIn any such circumstance, we apply enhanced controls to ensure that monies owed by clients are received. We are not entitled to use client money to pay ourselves commissions our own fees or commission before we receive the relevant premium from you. In the customerevent that we elect to fund premium on your behalf, you acknowledge that any funded amount, whether arising as a result of a payment by us or a deduction by you from amounts payable to us, is to be refunded to us immediately, and that for the duration of any funding, such funded amounts are not considered to be a gift from us. We reserve the right to charge interest on any such funded items from the date the funding commenced to the date of payment. In some instances, we may have agreed in writing with an insurer to receive insurance monies as their agent under a risk transfer arrangement. In such cases, this means that where: • you have paid premium to us, it is deemed to have been paid and received by the insurer, even if we fail to forward it to the insurer; or • For the insurer has paid premium refunds of claims to us for onward payment to you, the insurer remains liable to you for those monies, until you have received them. In all such cases where we have entered into a risk transfer arrangement with insurers, in accordance with CASS, they have consented to their monies being co-mingled and held in our Client Account, which means those monies are also treated as Client Money and afforded the protection associated with that account. Whilst we pay client money into a Client Account, we may arrange to invest this in a segregated designated investment, as permitted under CASS. If we do this, we will be responsible for meeting any shortfall that is attributable to falls in the market value of that designated investment. We may earn interest on cash amounts held and may benefit from foreign exchange differentials and returns on segregated designated investments. As permitted by ▇▇▇▇, you agree that any such interest or investment returns shall belong to us and we shall not be required to account for it to you. We may transfer client money to another person, such as another broker or settlement agent, for the purpose of effecting a transaction on your behalf. Where we act as agent of an insurer for the purposes of holding or receiving claim payments or returning premiums, pass your we will remit them to such parties as the insurer directs us to pay. We may otherwise only pay client money to another intermediary, including those resident you or your duly authorised representative if we have your specific instruction or consent. Where an intermediary or settlement agent is outside the UK who would therefore be subject to different UK, the legal and regulatory regimes. In regime applying to the intermediary or settlement agent will be different from that applicable in the UK and, in the event of a failure of the intermediaryintermediary or settlement agent, this the client money may be treated in a different manner from that which would apply differently than if the client money were was held by an intermediary a broker or settlement agent in the UK. Please inform us if We may also pay a third party introducer a share of our commission for effecting the introduction of our relationship with you. Where you do not agree wish your money to this. • Retain for our own usebe passed to a particular bank, any interest earned on client money. Unless we receive your written instruction to the contraryintermediary or jurisdiction, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank accountshould tell us.

Client Money. We 13.1 Any money received by Gain Capital UK in respect of your Account with Gain Capital UK shall be treated as “Client Money” in accordance with the then applicable FCA’s Rules except where you separately agree with us to transfer full ownership of money to Gain Capital UK for, amongst other things, the purpose of securing or otherwise covering present or future, actual or contingent or prospective obligations, such as Margin, in which circumstances such money will not be regarded as Client Money. Title transfer collateral arrangements are not authorised used by Gain Capital UK for Margin Transactions for Retail Clients. 13.2 In relation to handle client moneyClient Money unless you notify us in writing or otherwise, we may hold Client Money in a Client Money bank account opened with an approved bank in the United Kingdom, in the United States or other acceptable jurisdiction. Your Client Money may therefore be held in a non UK jurisdiction and in such circumstances the legal and regulatory regime applying to the approved bank with which your bank account is opened is different from that of the United Kingdom. 13.3 We will request that the relevant bank provide the acknowledgement required by FCA’s Rules provided that in the case of a Client Money bank account in the United Kingdom, if the bank does not provide such acknowledgement within 20 business days after we have dispatched the notice, we will (a) notify you of such fact and (b) withdraw all money standing to the credit of the account and deposit it in a Client Money bank account with another bank as soon as possible, unless specifically agreed in writing to the contrary. By entering into this Customer Agreement you agree that we will not pay you interest on Client Money or any other unencumbered funds. 13.4 Unless you notify us in writing or otherwise, we may pass on Client Money or allow another person, such as an exchange, a clearing house or an intermediate broker, to hold or control Client Money where we transfer the Client Money (a) for the purposes of a Transaction for you through or with that person; or (b) to meet your obligations to provide collateral for a Transaction (e.g. an initial margin requirement for a derivative transaction). 13.5 We may transfer any payments received from money we hold for you as Client Money (after deduction of any amounts permitted by the terms of this Customer Agreement) to another legal entity (including any of our group companies) where we transfer all or which need part of our business to be refunded that entity and your Client Money relates to you, the business transferred. Where we transfer your Client Money to another legal entity under this clause 13.5 we shall ensure that such Client Money will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect entity for you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangementsClient Money Rules. 13.6 You consent to us releasing any Client Money balances, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction or on your behalf, pass from client bank accounts and for us to treat as Client Money any unclaimed Client Money balance where: (a) we have determined that there has been no movement on your money balance for a period of six years (notwithstanding any payments or receipts of charges, interest or similar items); and (b) we have written to another intermediaryyou at your last known address informing you of our intention of no longer treating that balance as Client Money, including those resident outside the UK who would therefore be subject giving you 28 days to different legal and regulatory regimes. In the event of make a failure of the intermediaryclaim, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, provided we shall treat receipt make and retain records of payment all balances released from you your Client bank accounts; and of undertake to make good any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank accountvalid claims against any released balances.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when BNL have received your cleared premium funds are recievedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, ; our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer.; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys monies into our Non-a BNL Non Statutory Trust bank account. Without affecting our fiduciary duty to you BNL are entitled to transfer client monies to an identical bank account held in the name of any Affiliate for so long as such company remains an Affiliate. Insurer Security Whilst we make every effort to place your insurances with insurers that are financially sound we do not guarantee or otherwise warrant the solvency of any insurer we place your insurances with. If you have any concerns regarding any insurer chosen to meet your insurance requirements you should inform us as soon as possible and we will discuss them with you. A liability for the premium, whether in full or pro rata, may arise under policies where a participating insurer becomes insolvent. Termination of This TOBA You or we may terminate our authority to act on your behalf by providing at least 14 days’ notice in writing (or such other period we agree). Termination is without prejudice to any transactions already initiated by you, which will be completed according to this TOBA unless we agree otherwise in writing. You will remain liable to pay for any transactions or adjustments effective prior to termination and we shall be entitled to retain any and all commission and/or fees payable in relation to insurance cover placed by us prior to the date of written termination of our authority to act on your behalf.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assetsa ssets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank account.

Client Money. We are not authorised to handle client money; any payments received from you or which need to be refunded to you, 15.1 Any cash held in your Portfolio will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are recieved, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rulesrules in one or more segregated accounts with a carefully selected banking institution. Under these arrangements, Coversure Insurance Services Limited assume responsibility Client money accounts may include the balances of more than one client. Client money may also be placed on overnight or short- term deposit. Where relevant you will be responsible for such monies and are permitted to, and may: • Use such monies received any additional income tax liability which may be incurred on behalf of one customer any interest earned on cash balances with us. 15.2 When considering which banking institution to pay another customer’s premium, before the premium is received from that other customer. Howeveruse, we will exercise due skill, care and diligence and will periodically review the adequacy and appropriateness of any bank or credit institution where your money is deposited and of the arrangements for holding your money. It is important to note your money may be deposited in client transaction accounts with a third party. We are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose responsible for any acts, omissions or default of effecting a transaction on your behalfcredit institution, pass your bank or third party chosen by us. 15.3 Your money to another intermediaryis handled and held with UK financial institutions. We may however, including those resident operate client money accounts outside the UK who would therefore be subject to UK. In the event we do so please note that: a) different legal and regulatory regimesprovisions will exist outside the UK and the protections may not be equivalent to those available in the UK. In the event of that a failure bank located outside of the intermediaryUK defaults, this fails or otherwise unable to meet its obligations, money held on behalf of clients may be treated differently than if the money was held in the UK; b) we will only hold client money in an account outside the UK where the relevant bank has confirmed that all money standing to the credit of the account is held by us as trustee acting on your behalf and that the bank is not entitled to combine or set off the account in respect of any money owed to it on any other account held by us with it, whether in our name or not. 15.4 Client money may be passed by us to a settlement agent in a jurisdiction outside the UK. If the settlement agent defaults, fails or is unable to meet its obligations, client money may be treated in a different manner differently from that the position which would apply if the money were was held by an intermediary in the UK. 15.5 We reserve the right to only make external payments to and to accept payments from the bank account stated in your Account. 15.6 If we are advised, for example by another bank, that money has been paid into your account by mistake, we can remove up to the amount of the mistaken payment from your account. Please inform us if you We do not have to ask you to agree to this, but will let you know if it happens. • Retain for If this happens we will always act in a reasonable and appropriate way and will try to minimise any inconvenience to you. 15.7 We are not obliged to inform you if we change our own use, any interest earned on client money. Unless we receive your written instruction to the contraryClient Bank Account, we shall treat receipt will advise you however, of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust amended bank accountdetails via our website.

Client Money. We are not authorised to handle All client money; any payments received from you or which need to be refunded to youmoney is handled by our Affiliate, will be held by Coversure Insurance Services LimitedThe Broker Network Limited (BNL). Client money is money that is received BNL receive and held hold on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held by BNL either as agent of the insurer or agent of the client, determined by the agreement we and BNL have in place with each insurer. Where money is held as agent of the insurer, this means that when we have received your cleared premium funds are recievedpremium, the premium it is deemed to have been paid to the insurer. BNL pay us commission upon receipt of your cleared premium which may be prior to payment of the premium to the insurer. The FCA require that requires all client monies, including yours, are to be held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, ; our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited BNL hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited BNL assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our their own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we BNL shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls fall due to you, as being with your informed consent to the payment of those moneys into our Non-a BNL Non Statutory Trust bank account. Without affecting our fiduciary duty to you BNL are entitled to transfer client monies to an identical bank account held in the name of any Affiliate for so long as such company remains an Affiliate.