Rubber Ring’s Appointed Representative (AR) Contract 2026

Contract for an Appointed Representative (AR)

Standard terms to be read with the Insurance Partnership Agreement for the appointed representative named in that agreement.

Parties: Rubber Ring Financial Services Limited, company number 12075495, FCA firm reference number 912930 (the Principal or RR), and the appointed representative identified in the Insurance Partnership Agreement (the AR).

These standard terms and the signed Insurance Partnership Agreement together form the written contract appointing the AR. The appointment is limited to the activities and products expressly specified for that AR.

1. Definitions and Interpretation

1.1. Applicable Requirements means the Financial Services and Markets Act 2000, applicable FCA rules and guidance, data protection law and other law applicable to the activities under this contract.

1.2. Insurance Partnership Agreement or IPA means the separate agreement between RR and the AR that identifies the AR, the approved products and activities, sales channels, commercial terms and term. A change to the IPA must be agreed in writing by both parties.

1.3. Regulated Activities means only the insurance distribution activities expressly identified in Schedule 1 and the IPA, to the extent permitted by RR’s FCA permissions and the AR’s entry on the Financial Services Register.

1.4. References to this contract include its Schedule 1. If a requirement of law or the FCA conflicts with a contract term, the applicable legal or regulatory requirement prevails.

2. Appointment and Scope

2.1. RR appoints the AR to carry out the Regulated Activities on RR’s behalf, subject to this contract and the IPA. The AR accepts the appointment and will act only within its approved scope.

2.2. The AR must not begin a Regulated Activity, sell an additional insurance product or use an additional sales channel until RR has approved it in writing and all required regulatory steps have been completed. The AR must not represent that it is authorised for any other activity.

2.3. The AR must not make commitments, vary policy terms, bind cover, handle claims, give advice or make representations on RR’s or an insurer’s behalf unless the IPA or a separate written authority expressly permits the particular activity.

2.4. RR accepts responsibility for the AR’s Regulated Activities within the scope of this appointment as required by law. Nothing in this contract removes RR’s regulatory responsibilities.

3. Obligations of the Principal

3.1. RR will provide approved sales processes, disclosures, training, compliance guidance and insurance materials relevant to the AR’s approved activities.

3.2. RR will make the required regulatory notifications and maintain oversight of the AR through proportionate monitoring, reviews and access to records and personnel.

3.3. RR may update its policies and procedures to meet Applicable Requirements. RR will notify the AR of relevant changes and give reasonable implementation instructions, including any action required before an activity may continue.

4. Obligations of the Appointed Representative

4.1. The AR will comply with Applicable Requirements, this contract, the IPA and RR’s notified policies and procedures. It will act with due skill, care and diligence; treat customers fairly; use only approved customer communications; and ensure relevant staff are trained and competent.

4.2. The AR will promptly notify RR of complaints, suspected breaches, regulatory enquiries, material operational incidents, changes to information supplied to RR for its AR assessment or FCA reporting, and any matter that may affect RR’s ability to supervise the AR. The AR will cooperate with RR and the FCA and provide information and access reasonably required for oversight or regulatory reporting.

4.3. The AR must not delegate or outsource an activity that may affect regulated business without RR’s prior written consent. It remains responsible for the acts and omissions of its staff and approved service providers in carrying out the appointment.

4.4. Insurance payments: the AR must not receive or handle customer insurance payments unless the IPA permits it and a written arrangement with RR and, where required, the insurer covers that collection. Where the AR is authorised to collect under risk transfer, it must identify insurance payments separately from other sales, maintain policy-level transaction records, provide the required customer disclosure, and transfer and reconcile funds in accordance with the IPA, the insurer arrangement and Applicable Requirements. It may retain commission from collected payments only to the extent the applicable arrangements permit. It must make no other deduction without RR’s written approval.

4.5. Refunds: RR will decide, calculate and make all insurance refunds directly to customers through RR’s own payment system. The AR will promptly refer cancellation and refund requests to RR, provide the information RR needs, and will not make an insurance refund through its own payment system. Commission adjustments will be handled under the IPA.

4.6. The AR will comply with applicable data protection law, protect personal data and notify RR without undue delay of any personal data breach or security incident affecting the appointment. The parties will agree operational data sharing arrangements where needed; this clause does not itself decide whether either party is a controller or processor for a particular activity.

4.7. The AR will maintain insurance, including professional indemnity cover where reasonably required by RR for the nature and scale of its activities, and provide evidence on request.

5. Fees and Expenses

5.1. Commission, fees, customer payment flows, refunds, settlement, reporting, applicable taxes and any agreed expense sharing are governed by the IPA. No right to deduct commission from collected payments arises solely from this clause.

5.2. Each party will bear its own operating expenses unless the IPA expressly provides otherwise. A dispute about payment will be addressed under clause 12.

6. Term and Termination

6.1. This contract begins on the commencement date stated in the IPA, subject to the AR having the required Financial Services Register entry and any other regulatory condition for the relevant activities. It continues unless terminated in accordance with this clause.

6.2. Either party may terminate on the notice specified in the IPA, subject to any minimum term there. Notice may be given during a minimum term but must not take effect before that term ends. If the IPA specifies no notice period, either party may terminate on at least 90 days’ written notice. This clause does not limit clauses 6.3 or 6.4.

6.3. RR may terminate immediately by written notice if: (a) continued appointment would breach Applicable Requirements or RR can no longer supervise the AR effectively; (b) an authorisation, registration or regulatory status needed for the activities is lost, suspended or restricted; (c) the AR commits fraud, dishonesty or a serious regulatory breach; (d) the AR fails to cooperate with RR’s or the FCA’s oversight; (e) the AR commits a material breach that cannot be remedied, or fails to remedy a material breach within 14 days of written notice requiring remedy; or (f) the AR undergoes a change of control that RR has not approved in writing.

6.4. Either party may terminate immediately by written notice if the other becomes insolvent, ceases to trade or enters into an arrangement with creditors. RR may also suspend some or all approved activities immediately where reasonably necessary to protect customers or meet Applicable Requirements while it investigates or considers termination.

7. Records Oversigh and Audit

7.1. The AR will keep complete and accurate records of its Regulated Activities, customer communications, staff training, payment transactions, complaints and incidents in a form RR can access and use for oversight and regulatory reporting.

7.2. The AR will retain records for at least five years or longer where Applicable Requirements or RR’s notified retention schedule requires. On termination it will preserve or transfer records as RR reasonably directs, consistently with data protection law.

7.3. RR, its auditors and the FCA may inspect relevant records, systems, staff and premises to the extent required for supervision or Applicable Requirements. RR will normally give reasonable notice, unless urgency or regulatory need makes that impracticable. The AR will cooperate with those inspections.

8. Confidentiality

8.1. Each party will protect non-public information obtained under this contract and use it only to perform its obligations. This does not prevent disclosure required by law or regulation, to professional advisers under confidentiality obligations, or of information already lawfully public. This clause survives termination.

9. Intellectual Property

9.1 Each party retains its pre-existing intellectual property. RR grants the AR a limited, non-exclusive, revocable licence during the appointment to use RR-approved branding and materials solely for approved activities and in accordance with RR’s written instructions.

9.2. The AR will not alter RR materials or use a new insurance trading name, promotional statement or mark without RR’s written approval. The IPA will identify any partner brand licensed to RR and the permitted use of any joint or product branding. On termination the AR will stop using RR branding and materials, subject to customer servicing and record-keeping obligations.

10. Liability and Indemnity

10.1. The AR will indemnify RR against reasonable losses, liabilities and costs arising from the AR’s breach of this contract or Applicable Requirements, to the extent caused by that breach. The AR will not be liable under this indemnity for loss caused by RR’s own breach, negligence or instructions.

10.2. Neither party excludes liability that cannot lawfully be excluded. Subject to that, neither party is liable to the other for indirect or consequential loss arising solely from this contract. This clause does not limit RR’s regulatory responsibilities to customers or the FCA.

11. Governing Law and Jurisdiction

11.1. The law of England and Wales governs this contract. The courts of England and Wales have exclusive jurisdiction, subject to clause 12 and any mandatory legal right.

12. Dispute Resolution

12.1. The parties will first try to resolve a dispute through good-faith discussions between representatives authorised to settle it. Either party may start court proceedings if the dispute remains unresolved 30 days after written notice of the dispute. This clause does not prevent urgent relief or regulatory action.

Schedule 1: Approved Regulated Activities

The IPA must identify the insurance products, regulated activities and sales channels authorised for this AR. A general reference to non-investment insurance contracts does not itself confer authority for every insurance product or regulated activity.

S1.1. The AR may perform only activities expressly listed in its IPA and approved by RR. The description should identify, as applicable, arranging insurance, making arrangements with a view to insurance, dealing as agent, assisting in administration or performance, or advising. An activity not expressly listed is not authorised.

S1.2. The IPA must specify whether the AR may sell through stores, telephone, online checkout or another channel; whether it may only introduce customers to RR; and whether it may collect insurance payments under the arrangements described in clause 4.4. RR must approve the staff process and customer disclosures for each channel.

S1.3. The AR must not conduct a Regulated Activity until its registration and the relevant approved scope are effective. It will make clear to customers that it acts as RR’s appointed representative, using the wording RR provides.