e-collections
Frequently Asked Questions
New Consumer Credit Regulations FAQ's
- What are the new Consumer Credit Regulations?
- What is the new documentation?
- Which products are affected?
- Are there any instances where the Consumer Credit Act 1974 ("CCA") does not apply?
e-collections FAQ's
- Why use e-collections?
- Do I have to use the e-collections System?
- Where will I find my agency number?
- I have a different agency number for different products, which should I use?
- What information do I need to provide to the customer, when paying by Credit/Debit Card?
- What information do I need to provide to the customer, who wishes to pay Commercial Lines products by instalments?
- Where do I send the signed credit agreement/Direct Debit Instruction?
- Which products can be paid by instalments using e-collections?
- Which products can be paid by debit/credit card?
- Are we able to reduce the instalment rate on the e-collection system?
- Do I need to obtain documents in the new format for Commercial Lines instalment business existing before the 31st May 2005 or at renewals for such existing business?
- What if my customer changes their account details?
- How will I know if the instalment record has been set up by Norwich Union?
e-broking documents FAQ's
- How do I complete the manual Commercial Lines instalment documents on e-broking?
- Who do I contact in the event of a query?
New Consumer Credit Regulations FAQ's
Q. What are the new Consumer Credit Regulations?
A. New Consumer Credit Regulations came into effect on 31 May 2005 requiring certain documentation to be provided to customers in order for them to get a clear understanding of the credit being offered and the terms applicable.
Q. What is the new documentation?
A. The new documents are as follows;
- Pre-Contract Information: This information which is specific to the customer, summarises key features of the credit agreement.
- Credit Agreement : The new regulations introduce new requirements relating to the information contained in the credit agreement and the order in which it is shown. The credit agreement must be signed by the customer and returned to Norwich Union before any instalments are collected.
The Direct Debit Instruction (DDI) which is not affected by consumer credit legislation, should be signed by the customer and returned to Norwich Union together with a signed original credit agreement.
Only once these documents have been returned should collections commence.
Q. Which products are affected?
A. All Norwich Union's Commercial Lines products paid by instalments are funded by regulated consumer credit agreements, except
- Premier Truck
- Taxi!
Norwich Unions Personal Lines products operates on a "Pay as You Go" basis (i.e. one month's cover is provided for each monthly premium paid during the period of insurance) and this method is not regulated.
Q. Are there any instances where the Consumer Credit Act 1974 ("CCA") does not apply?
The CCA does not apply to the following;
- Policies taken out by plc's, ltd's and llp's
- Policies in excess of £25,000 premium
e-collections FAQ's
A. Our e-collection system not only automatically generates Pre-Contract Information and Credit Agreements, it also generates the required direct debit documentation. Please note that although both Premier Truck&Taxi are not paid by instalments, the DDI can be produced using this system
* Our e-collection system allows payments to be made by credit/debit card for Commercial Package and Personal Lines products. Once you have keyed in the card details these are automatically sent to Norwich Union to collect the payment.
* This facility is not available for policies written on a bordereaux basis.
The e-collection system is also easy to follow.
Q. Do I have to use the e-collections System?
A. This is the preferred option and there are a number of benefits to using the e-collection system as previously mentioned, including paying by credit/debit card.
Where it is not possible for you to use this system for Commercial Lines instalment business, the relevant documents can be produced from the product literature pages on e-broking. Alternatively call our customer accounts team on 0114 282 4684.
Q. Where will I find my agency number?
A. Your agency number will appear on your statement of account and on most correspondance that you recieve from us. If you are unable to locate your agency number please contact your account manager or your usual contact for that particular piece of business.
Q. I have a different agency number for different products, which should I use?
A. For Commercial Package and Commercial Motor (known as "Gemini" products) and Personal Lines products you should use your Home Accounts Agency number. The home accounts agency number for package and motor products generally begins with 50, then has 1 or 2 letters, then a further 3 numbers. i.e. 50T999 For Personal Lines products this has 1 number, followed by 1 or 2 letters and then 3 numbers. i.e. 9G999.
For Complex Commercial products you should use your "Polisy" agency number. These are always in the following format nn 00nnnn0. i.e. 22 0012340. Only the Direct Debit function is available for Complex Commercial policies.
For Bonus products (available to Bonus brokers only) use your Bonus agency number. These are always 2 numbers followed by 7 numbers. i.e 12 3456789
It is important that you use the correct agency number as the agency number that you use will determine the product set available for selection.
Q. What information do I need to provide to the customer, when paying by Credit/Debit Card?
A. Our e-collections system will provide payment confirmation to confirm card details have been provided. This should be printed and given to the customer as a receipt.
Q. What information do I need to provide to the customer, who wishes to pay Commercial Lines products by instalments?
A. The system has been devised to automatically generate the correct pre-filled documentation. The customer must be provided with the following:
- Pre-Contract Information.
This must be provided to the customer prior to, or at the same time the credit agreement is issued. It summaries the key features of the credit agreement. - Credit Agreement and DDI.
The credit agreement must be signed by the customer who retains the copy and the original should be sent to Norwich Union together with the signed DDI.
* Without the signed credit agreement and DDI the instalments process cannot be initiated and the premium will appear on your account.
Q. Where do I send the signed credit agreement/DDI?
A. Credit agreements and DDI's can be sent direct to Norwich Union, Customer Accounts, Pitheavlis, Perth, PH2 0NH.
Q. Which products can be paid by instalments using e-collections?
A. All Commercial Lines products except Premier Truck and Taxi can be paid by instalments. Please note the facility to pay for Personal Lines products by monthly premiums is not available on this system and payments should be processed in the normal way.
Q. Which products can be paid by debit/credit card?
A. You can use our e-collection system to make credit/debit card payments on any Personal Lines and Commercial Package business.
* This facility is not available for policies written on a bordereaux basis.
Q. Are we able to reduce the instalment rate on the e-collection system?
A. The system will automatically calculate the correct rate. Please contact your usual underwriting branch who will advise whether or not a reduced rate can be given. If acceptable a unique code will be provided which can be used on the e-collections system and the reduced rate will automatically be generated.
If you opperate on a Bonus arrangement please discuss this with your Business Account Executive (BAE).
Q. Do I need to obtain documents in the new format for Commercial Lines instalment business existing before the 31st May 2005 or at renewals for such existing business?
A. You do not need to take any action for Commercial Lines instalment business existing before 31st May 2005 or at renewals. The payments will continue as normal.
However, if the policy is not currently paid by instalments and your customer wishes to pay by this method at renewal, you will need to use the documents in the new format either generated via the e-collections system, or the manual documents under the product pages on e-broking.
Q. What if my customer changes their account details?
If the customer changes their bank account please notify Customer Accounts who will arrange for a new DDI to be issued to the customer if necessary.
Q. How will I know if the instalment record has been set up by Norwich Union?
A. The statement of direct debit collections will be sent to your customer and the premium entry will be removed from your account.
e-broking FAQ's
Q. How do I complete the manual Commercial Lines instalment documents on e-broking?
A. When you select your required product, the documents available will be displayed. You will need to complete Pre-Contract Information, Credit Agreement and DDI.
Please note there are some fields on these documents highlighted in blue, which you will need to complete prior to sending to your customers. You will also need to insert the relevant APR's for each product which are also available on e-broking
There are 2 different Pre-Contract information formats available on e-broking, depending on how the business is to be concluded (i.e. Face to Face or at a Distance). Please ensure that the correct document is used.
Q. Who do I contact in the event of a query?
A. For technical queries on the e-collection system please contact e-broking support team on 01603 687666. For all other queries please contact e-collections on 0114 282 4684.
