Frequently Asked Questions

About Compass

What is compass?
Compass is a leading independent underwriting agency that develops, underwrites and services insurance schemes for intermediaries and insurers. We are a specialist scheme designer for a wide range of insurance products including personal accident and sickness, commercial property insurance for medical or dental practises, Locum insurance, salary protection, loss of flying license, mortgage and loan payment protection, GAP, term life and travel insurance on behalf of various FSA &/or EU approved insurers.

Who owns Compass?
Compass is a wholly independent operation, owned by the directors since 2001.

What is the history of Compass?
In April 1992 Compass was created out of a Lloyd's Syndicate 1242 to become Compass Certificate Schemes Limited - owned jointly by John Darling and Crawley Warren Insurance Brokers, a Lloyd's Broker. In 1997 the IGI Group of Companies bought the company. Three years later the name was changed to Compass Underwriting Limited and the A&H account of IGI Insurance Co was acquired and merged with the Compass business. In 2001 the company was the subject of a management buy-out, then in 2003 Ortho Barnes acquired 90% of the ordinary shares and remains the main shareholder and Chairman today.

Sales questions

How do I obtain an agency with Compass Underwriting?
As we are a wholly independent firm you will need to have a directly approved agency from us before you can start trading with us. Please have a look at our Document Library page for our latest agency application form and terms of business agreement. If you are a member of an approved network then please contact us as you may not need an specific agency from us. Please note that we can only accept firms that are properly authorised by the Financial Services Authority.

What commission do I get from Compass?
This depends on the type of business but generally commission is paid between 20% and 30%.

Who do I contact for quotes?
You can either telephone or fax your quotation to our dedicated Customer Services Department at London. Switchboard: +44 (0)20 7398 0100 | Fax: +44 (0)20 7398 0109.
Email: i...@compassuw.co.uk

Do you offer any premium instalment facilities?
Yes, for most of our contracts your client can pay for the premium by monthly direct debit at NO extra charge.

What is the direct debit instalment charge?
Nil, the direct debit facility is interest free.

Do you use loss adjusters for your claims?
No, Compass has an experienced Customer Services Department which handles most claims internally. Loss adjusters will only be used for very complex claims such as medical or repatriation travel claims.

How do you pay your Personal Accident and Sickness claims?
We believe that when one of our policyholders is absent from work he or she needs the policy to work for them. For this reason we pay our claims on an interim basis. This is usually either fortnightly or monthly.

Quotes and Timings

Are there any risks Compass will not quote for?
Compass believes that as a specialist in the term life, accident and health market, we should be able quote for nearly all the business shown to us - but there may be occasions where we cannot offer you terms or where we have to impose special conditions or limitations.

How long does it take to obtain a quote?
All quotations are returned within 2-working days. Though you can also go to the on-line quote section for instant quotes on a selected range of products.

How long does it take for cover to be provided?
Once the proposal form is received it is underwritten. Subject to our acceptance you will then receive either a certificate of insurance or our advice within 5 working days.