Key Facts

Hailo Protect - Demands and Needs Statement

For those eligible, Hailo Protect meets the demands and needs of those taxi drivers who wish to receive a weekly benefit in the event of being prevented from driving their taxi through disqualification due to speeding or ‘totting up’ convictions or incapacitating personal accidental injury. We need to include a section here about the legal assistance element.

Hailo Driveguard – Policy Summary

This is a summary of the policy cover for the Hailo Protect Plan. It does not include the full terms and conditions of the insurance contract, which can be found in the policy document or are available upon request.

Main Features and Benefits

The Hailo Protect Plan provides benefits in the event of:

Disqualification: as the result of Personal Injury: following incapacitating accidental injury that prevents you from being able to drive your taxi.

Legal Assistance – wording to be provided by DPP

Claims Assistance – wording to be provided by Hailo

The cover available under the Hailo Protect policy is determined by the plan that is selected.

The monthly premiums are inclusive of Insurance Premium Tax (charged at the prevailing rate).

Main Exclusions and Limitations

Cover is only available to persons aged 21 up to 75 who hold and have held a current licence issued by (a) Transport for London (TfL) in one of the following categories:

1. Taxi Licence; or

2. An All London Licence (known as a “green badge”); or

3. A Suburban Licence (known as a “yellow badge”).

for a period of at least two years with no more than 7 current or pending penalty points (see Policy Wording General Exclusions TBC),
or outside of London, a taxi licence issued by

(b) a local authority or other recognised Licensing authority.
· Cover will not include disqualification imposed as a direct result of drink or drug related offences or for dangerous or reckless driving or using a vehicle uninsured against third party risks or for failing to notify driver details to the police. (see Policy Wording Section 1 Exclusions TBC).
· Disqualification cover will not operate unless legal advice was taken from DPP and followed.
· The policy does not provide cover in the event you are unable to drive as the result of a medical condition which did not result from accidental external forcible or violent visible means (see Policy Wording Section 2 Exclusions TBC). Injuries sustained while in control of or as a passenger on a motor cycle are not covered (see Policy Wording Section 2 Exclusions TBC).
· The weekly benefit per week (or part thereof) is payable for the period of Disqualification subject to a maximum period of twelve months from the date of disqualification or for the period of incapacity to drive due to accidental injury subject to a maximum period of twelve months from the date of the injury.

Duration of the Policy

This insurance policy runs for 12 months from the effective date shown on the insurance schedule. Prior to the expiry of the policy, you will be notified of the renewal terms.

Cooling Off Period and Cancellation Rights Following your purchase of this policy and receipt of the policy documentation, you have 14 days in which to consider the cover provided and ensure that it meets your requirements.

When renewal terms are issued, you will have 14 days, after the renewal date to consider the cover provided and ensure that it continues to meet your needs.

If you decide not to continue with the policy within the first 14 days after inception or renewal, then you should either write to us or telephone the Customer Services helpline number on xxxxx (Monday to Friday 9am – 5pm excluding Bank Holidays). On receipt of your instruction we will refund any premiums you may have already paid from the effective date or renewal date of the policy, provided you have not made a claim in the meantime.

Claims

In the case of a potential Disqualification claim the policyholder shall give written notice to the Insurer immediately (within 7 days) upon receipt of the first piece of correspondence (ie. Any Notice of Intended Prosecution, Complaint, Summons or other communication) in relation to any offence which may result in the penalty points endorsable on his/her licence totalling twelve or more or a single speeding offence which may result in disqualification. The policyholder must also contact DPP for legal advice and follow the advice given. In the case of a potential Personal Injury claim the policyholder shall give written notice to the Insurer within 30 days of any incident which may give rise to a claim. Should you wish to make a claim please write to Isle of Man Assurance Limited, Hope Street, Douglas, Isle of Man, IM1 1AP or telephone 01624 681200 or email hailoprotect@ioma.co.im.

Complaints

If you have a complaint regarding the service received from IOMA, please contact the Compliance Department. Complaints that cannot be settled can be referred to the Financial Services Ombudsman Scheme for the Isle of Man. Copies of IOMA's internal complaints handling procedures are available upon request.

This insurance is underwritten by Isle of Man Assurance Limited (IOMA), of IOMA House, Hope Street, Douglas, Isle of Man. IOMA is authorised by the Isle of Man Financial Services Authority (IOMFSA). Authorised and regulated by the Financial Conduct Authority (Register No 142307) for UK business. IOMA is not subject to the same regulatory system as that applicable in the United Kingdom however, eligible holders of insurance policies issued by IOMA who are resident in the UK may be protected by the United Kingdom Financial Services Compensation Scheme if the company should become unable to meet its liabilities to them. IOMA is a member of the International Underwriting Association of London.