BSN is a London based major loss specialist in business and property claims. Under the direction of Steven Newman, a loss assessor with 40 years commercial and insurance experience, the firm offers an efficient and effective claims service for corporate and private clients wishing to ensure their entitlements are satisfied, and their interests, protected.

It is our standard practice, and a requirement of the Financial Services Authority, that when you engage us we write to set out the basis upon which we will act for you. We will do so in letter form which we will ask you to countersign. The letter will represent a legally binding agreement between you and us. You should carefully read its contents, and contact the writer if there is any part which you do not understand.

The following is a representation of the matters which shall form part of your contract with us:-

Our Client

Our client will be the party to whom the letter is addressed. If we are acting for you in respect of an insurance claim under a policy of insurance which you hold in a private, professional or corporate capacity, and there are other named joint policyholders, we cannot act for them unless they too have appointed us. In circumstances where a joint policyholder does not appoint us, this may preclude our ability to substantively progress or finalise settlement of your claim.
People responsible for your work

A director of BSN will be ultimately responsible for your work, and for providing services to you, but may be assisted by others as the matter progresses. We will tell you their names and status as necessary.
The Services we are retained to provide

The matter upon which we are instructed will be in relation to a claim against an insurer or third party, and our role will be to pursue that claim on your behalf, including as necessary the preparation, presentation and negotiation of the claim, liaison with other relevant parties, and if necessary, arranging the engagement, as you so direct, of other specialists or services required: a) to provide evidence in support of your claim: or b) to assist in the restoration, reinstatement or replacement of your premises or property. Unless we have agreed to do so in writing, we accept no liability for the costs, fees, services or performance of any other party.
Money Laundering

Although we are not subject to the same reporting criteria as other professionals such as accountants and lawyers, in most circumstances we are required to undertake enquiries to ensure we have ascertained the identity and bona fides of our client. We also have a duty to disclose to the appropriate authorities suspicion or evidence of illegality if it comes to us in the course of conducting a 'regulated activity', within which category our services to you will fall.
Charges and expenses

Time charges are currently based at rates from £180 per hour plus VAT for a director and from £140 per hour for an associate or senior assessor. Time spent on your affairs will include meetings with you and others relevant to your case, time spent travelling; considering, preparing and working on papers; correspondence; telephone calls and any other attendance required to comply with your instructions. Time is charged in segments to the nearest 6 minutes. Hourly rates do not include the cost of sundry disbursements referred to hereafter. Hourly rates are reviewed annually to take effect on the 1 January and if we increase those rates, we shall notify you in writing, and any increased rate will take effect from the date of notification.

If we have agreed to undertake your work on a contingency fee basis, that is to say a percentage of the sum or sums achieved in settlement or part settlement of your claim, the agreed percentage rate will normally absorb all hourly charges unless the matter becomes the subject of any judicial or quasi-judicial process. In this event we reserve the right to make supplementary hourly charges for time spent attending meetings or conferences with legal advisers and attendance at any hearings.

We define settlement or part settlement as including the value of any cash, replacement goods, repairs or reinstatement, salvage allowance, auction sale proceeds or any other financial consideration forming part of the compensation agreed by the Insurance Company or Third Party in respect of your claim.

In some circumstances we may agree a fixed fee, or fees based upon a combination of hourly charges and contingency fees.

In addition to our fees we may charge for sundry disbursements, which may include but not necessarily be limited to, costs for postage, courier despatch, facsimile, email, international telephone calls, photocopying, photography, printing, travel, parking, and subsistence (for attendance outside of the Home Counties if same day return journey is not practicable). Disbursements are charged as appropriate, and rates and itemised details of charges raised are available on request. VAT is payable on all disbursements.

If you have a query about any aspect of our charges, please contact us immediately.
Billing Arrangements

We will send you interim bills for our charges and expenses as the matter progresses. If our fee arrangement is for hourly charges, bills will be rendered at regular intervals, though if on a contingency fee basis, bills will be rendered at interim and final stages proportionate to sums agreed for payment by insurers, third parties or representatives on either's behalf, at the time those payments are agreed.

Payment is due to us immediately upon receipt of each bill. We will charge you interest on the bill at a rate of 10.00% per annum (both before and after judgement) from the date seven days after the date of the bill, if you do not pay each bill on time. Interest will accumulate on a daily basis and will be compounded with monthly rests.

Please contact us immediately if you have a query about any bill.
Storage of papers and documents

After completing your work, we shall be entitled to keep all your papers and documents while there is any money owing to us for our charges and expenses. We will keep our file of papers (except for any of your papers which you ask to be returned) for not more than six years. We keep the file on the understanding we have the right to destroy it 6 years after the date of the final bill.

If we retrieve papers or documents from storage at your request, we reserve the right to charge you for the cost of such retrieval. We may also charge, at the prevailing hourly rates, for the time spent producing specific stored papers or documents, and for reading, correspondence or other work necessary to comply with instructions given by you or on your behalf.
Termination

You may terminate your instruction to us in writing at any time, but we will be entitled to keep all your papers and documents while there is money owing to us for charges and expenses.

If we are working for you on a contingency fee basis, and you terminate our instructions at any time before a final settlement has been agreed on your claim, we shall charge you for all the services we have performed from inception of instructions to the date of termination, at the hourly rates specified in our Terms letter, or rates as subsequently notified to you following annual review, less any sums you have paid us on account. If we are working for you on time-based charges, our final bill will be charged to you at the previously notified hourly rate from the date of the last bill to the date of termination of instructions.

In the event you dispute the amount of costs in our bill, you may challenge the amount of time spent, but not the hourly rates or the contingency fee rate. If dispute arises, which we cannot resolve between us by discussion, our file(s) will be sent to an Independent Costs Consultant (whose charges will be apportioned equally between us) and who will assess the reasonableness of the time spent, and his or her determination shall be binding on us both. The choice of consultant will be agreed between us, though if we fail to agree on the choice of consultant, either party will be at liberty to initiate legal proceedings for determination of issues by a Court.

Circumstances may arise in which we consider we ought to stop acting for you. This may happen, for example, if you do not give us clear or proper instructions; if it appears clear that you have lost confidence in us; or if you do not pay an interim bill. We may also stop working for you if we become satisfied that the Insurer or Third Party, against whom the claim has been made, has no liability to you, or if the prospect of a satisfactory outcome is in our view without merit. We will not stop working for you without good reason, nor before giving you reasonable notice.

If you or we decide we will no longer act for you, you will pay our charges and expenses on the agreed basis as set out in our Terms letter.
Communication and Complaints

We strive to provide a quality service, and to keep you regularly informed of the progress in your case. We give no warranty or undertaking that a settlement will be achieved within a specific timescale, or at all. If however you have any queries or concerns about our work, in the first instance please raise them with the case handler with whom your are dealing. If they cannot satisfy your concerns, STEVEN S NEWMAN FRSA is the director responsible for client care, and will attempt to resolve any problems or complaints to your satisfaction in accordance with our internal complaints procedure. If you still remain dissatisfied, you have a right to refer your complaint to the Financial Ombudsman Service.
Agreement

Your continuing instructions will constitute an acceptance of our terms of business, and your contract with us will be construed in accordance with English Law.