Code of conduct

The Xenia team is committed to high service standards, adhering to the following code of conduct.

Understanding client needs

We constantly review and reassess our service performance and approach. To help us achieve this we welcome both positive and negative feedback because we recognise it makes us stronger as a business.

However, if one of our clients feels they have cause to make a complaint, this can be communicated to one of the Xenia team, or alternatively, to our Compliance Officer at 52-56 Leadenhall Street, London EC3A 2EB or [email protected].

We aim to resolve all complaints quickly and efficiently, however if the complaint cannot be resolved within three business days, the following formal timescale will be put in place:

If we are unable to resolve the complaint to the clients satisfaction, and they are an eligible complainant, they may be able to refer the complaint to the Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square, London E14 9SR, telephone: 0800 023 4567 (from landlines), 0300 123 9123 (from mobiles).

Service commitment

We aim to conduct our business with integrity and are driven by a desire to deliver the highest professional standards in all our client relationships. This includes:

Policy documentation

Once an insurance contract has been incepted or renewed, we will write to the client within five working days to confirm the policy’s structure and terms.

We will forward the policy document within a maximum of five working days from receipt of the document. We will check the document to ensure it accurately reflects the terms and conditions agreed by both parties. Any subsequent changes will be communicated to the client within five days.

We recommend that all clients check any confirmations or policy documentation to ensure they are in accordance with their requirements. If a client has any queries or issues or require further clarification, they should contact us immediately.

All relevant documentation and correspondence should be retained by the client for as long as there is a possibility a claim could be made under the policy.


Insurers usually require immediate notification of a claimable situation or circumstance which could potentially lead to a claim.

The actual notification period required by insurers is detailed in policy terms and conditions. We would however advise that clients should submit claims or inform the underwriter as soon as they become aware of a situation that could potentially lead to a claim. Failure to do so may result in claims being rejected.

If you are uncertain whether a situation or circumstance could lead to a claim, you should contact Xenia immediately to discuss in more detail.

All claims payments issued by the insurer will be made payable to the insured or third-party assignee and will be forwarded either via Xenia or direct from the insurer.

Insurer security

We only look to place business with insurers who are financially sound, unless directly instructed to the contrary by the client.

We cannot guarantee an insurer’s solvency however, and clients need to be aware their financial position can change after cover has commenced.

In the event of the insolvency of one or more of the insurers sharing in the risk, we cannot accept liability for any claims payments or return premiums due.

We will assist our clients in the submission of a claim with the relevant insolvency practitioner in respect of any unpaid amounts due.

Payment arrangements

All insurance premiums are invoiced direct by the underwriter and payment is made direct to the insurer via Direct Debit, Standing Order or cheque.

All premium should be paid in the currency in which it has been invoiced, unless otherwise agreed with the insurer.

Our remuneration

We are remunerated by the insurers for the services we provide in the form of a percentage of the premium payable (this is known as brokerage or commission). The value of the brokerage payable will be disclosed to clients upon request.

There are some circumstances whereby we are remunerated on a fee basis paid directly by the client.

Certain insurers may offer additional remuneration based on our retaining and/or achieving agreed business volumes. Upon request, the value of these payments will be fully disclosed to clients.

In exceptional circumstances where an hourly rate is charged for consultancy services this is costed on the following basis. Director: £250 per hour, Account Manager: £200 per hour, Internal Broker: £150 per hour.

Use of information supplied by clients

Information disclosed to us which has been provided by our clients will be treated in strict confidence, other than where the law allows us to and for the purposes set out in our Privacy Policy, we will not disclose information to any third-party without prior consent. Read our Privacy Policy here.

Duty of disclosure and utmost good faith

We are required by United Kingdom law to act with utmost good faith. Additionally, we have an obligation to disclose to both the client and the insurer any material information prior to the insurance contract being concluded. This is not, however, limited to material information and, where permitted by law, we will disclose any business information which we believe to be relevant in relation to the insurance contract to the relevant party, whether it be the client or the insurer.

Therefore, the client should at all times disclose any information they believe to be material. This includes every material circumstance which they, their senior management or persons responsible for arranging the insurance, know or ought to know following a reasonable search. If in any doubt as to whether a circumstance is material, we recommend the information should be disclosed.

This is not restricted to just the inception/renewal of a policy and should be applied to situations arising throughout the policy period.

In the event of any breach of utmost good faith, or the failure to disclose any material information, the insurer may avoid the policy (i.e. treat it as if it had never existed) or amend the terms that apply which may lead to a claim being refused or a reduction in the amount paid in the event of a claim.

It is the client’s responsibility to ensure the accuracy of all answers, statements and information in a proposal, claim form, or other documentation relating to the insurance policy.

Specialists in credit insurance

The skills required to place and manage credit risk are totally different to those required in the many other classes of insurance. The team at Xenia specialises in credit insurance. Our clients’ credit risk changes daily and their credit insurance cover needs to be constantly modified to reflect this.

As a result, we take a proactive approach to policies, working in partnership with finance directors and their credit management teams.

Continuity of service

Ours is a seamless service. We advocate a team approach to looking after our clients. This means that you will always talk to someone who knows your policy and can talk sensibly about it. Additionally, the person who negotiated your credit insurance policy is likely to retain an involvement with your business for many years as our staff tend to stay with us for the longhaul.