It’s important you understand how we handle your money so you can decide whether you’re happy with the arrangements, before placing your business with us.
Paymentshield Limited acts as the administrator of non investment insurance contracts on behalf of separate general insurance companies.
All money held by Paymentshield on behalf of customers during the course of our insurance mediation activities, is held on behalf of the insurer. This includes premiums, premium refunds and claims money.
This means that the insurer agrees to let us hold money as an agent on its behalf. The insurer therefore retains responsibility for holding and controlling the money and Paymentshield is not deemed to be holding client money.