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Financial Services Guide |
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Remingtons
Insurance Brokers Pty Ltd ABN
50 006 021 870
AFS
Licence 239218 78
Mair Street East, Ballarat VIC 3354 Phone
03 5331 7341, Fax 03 5332 1933 At
Remingtons Insurance Brokers Pty Ltd (Remingtons), we aim to make you
feel totally at ease with the services we offer. In doing so we are
providing you with this easy-to-understand Financial Services Guide
(FSG). If you’d like more information or clarification, please don’t
hesitate to contact us.
Our
FSG is designed to assist you in deciding whether or not to use our
insurance broking services. It contains information about the
remuneration we earn and what to do if you have a complaint about our
services. It also contains frequently asked questions. If
you ask us to provide insurance broking services, we may give you other
documentation including a Statement of Advice, Product Disclosure
Statement (PDS) and policy
wording. A
Statement of Advice comprehensively details important information about
the advice and policy recommendations we give you. We will give you a
Statement of Advice if we recommend a personal accident insurance
policy. Where
we recommend a particular insurance policy, you may also receive a
Product Disclosure Statement. A Product Disclosure Statement contains
important information about the benefits, exclusions and cost of the
insurance, the cooling off period and how to make a complaint about the
insurance policy. If
you have not been provided with these documents, and think that they
should have been provided, please contact us and we shall endeavour to
provide them to you. Who
are we? Remingtons
hold an Australian Financial Services License and we are authorised to
arrange and advise on general insurance products. When we provide
insurance broking services, we act on your behalf. We
are a well-known and established general insurance broker with a
reputation for professionalism and a commitment to understanding our
client’s insurance needs, concerns and issues. We
are a member of the National Insurance Brokers Association and a member
of Insight Insurance Brokers Association
Inc. (Insight). We also subscribe to the General Insurance Brokers’ Code
of Practice. About
our insurance broking services Essentially,
this means that you can contact us for advice on or assistance with: ·
New
business – You should contact us to obtain insurance cover for a risk,
property or asset that is not currently insured. ·
Renewals
– We can ensure continuity of insurance cover or arrange temporary
cover. ·
Endorsements
or Variations – If your circumstances change, we can assist you to
review the adequacy of your
cover
or vary your insurance. ·
Claims
– We can assist and advise you in the initial management of your claim
and liaise with the insurer on your behalf. How
are we remunerated? Remingtons
have an open, honest fee structure and are committed to ensuring that
you know the cost of any recommendation we may provide to you. For
example, when we place insurance for you, we obtain from your insurer a
percentage of the premium you pay. This
is generally in the range of between 0% and 25%. We may also charge a
broker fee, which may vary depending upon the services rendered. The
amount of the commission and fee we earn for placing a particular
insurance policy will be disclosed at the time we give you personal
advice. As
a member of Insight we have access to insurance products through
arrangements it has negotiated with certain insurers and premium
funders. Insight may receive between 0.5 – 1% commission for each
policy or premium funding contract arranged with these providers.
Depending on the amount of total premium or premium funding
contracts we place in any financial year, we may receive a proportion of
that commission. As a member of Insight, we have access to member
services including compliance tools, training, product comparison and
the like. These member
services are either funded or subsidised by Insight. Some
Insurers may give us and our adviser’s hospitality, gifts and the
like, but we have a procedure in place to ensure these do not influence
us in our recommendations to you as far as placement of insurance.
As part of our commitment to ongoing training and development, we
encourage our staff to attend industry events, conferences and product
training (some of which is subsidised or provided by insurers).
These benefits may change from year to year.
Our
Professional Indemnity Insurance We
have professional Indemnity insurance in place which covers us for any
mistakes relating to our professional broking services. This insurance
meets the requirements of the Corporations Act and covers the services
provided by our advisers after they cease working with us provided we
notify the insurer of the claim when it arises and this is done within
the relevant policy period. Complaints
and Disputes If
you have a complaint about the services provided, you should take the
following steps: 1. Contact
your adviser on: 03 5331 7341
and tell them about your complaint. 2. If
your complaint is not satisfactorily resolved by one of our advisers
within three days, please put your complaint in writing and send it to
us at: Complaints
Officer Remingtons
Insurance Brokers, PO
Box 2360 Bakery Hill VIC
3354 Fax
03 53321933 Email:
info@remingtons.com.au
We
will endeavour to resolve your complaint quickly and fairly. Remingtons
is a member of the Financial Ombudsman Service (FOS),
an external dispute resolution scheme. If
you don’t receive a satisfactory outcome, you can call FOS from
anywhere in Important
Privacy Information We
will maintain a record of your personal profile, including details of
your insurance objectives and needs and your financial situation. We
also maintain records of any recommendations we make. As
professional advisers, we are committed to ensuring the privacy and
security of your personal information in accordance with the principles
of the Privacy Amendment (Private Sector) Act 2001. You
have a right to examine the relevant contents of your file and you
should have been provided with our privacy statement, which details our
approach to privacy. Should
you wish to examine your file please ask us and we will make all
necessary arrangements. Further details on our information handling
policy can be obtained by contacting our Privacy Officer using the
contact details above, or put your query in writing and send it to us
at: Remingtons Insurance Brokers, PO. Frequently
Asked Questions
In
this section key information is provided in answer to the following
questions. What
sort of ‘advice service’ can Remingtons provide?
The
financial product advice we provide to you will depend upon your needs
and requirements. It may either be general, which is non specific, or
personal in that it will consider your personal needs and circumstances.
We may provide personal advice, but if we don’t, we will bring this to
your attention. For example, we only provide general advice for a
renewal unless you ask us to review your personal needs and
circumstances. In
order to be able to provide you with personal advice, we’ll need you
to provide us with current information about your situation, your
objectives and other relevant matters. We’ll also need you to fully
disclose information about the risks to be insured. In
the event that you are unable or unwilling to do this, or if we don’t
obtain the required information, we may not be able to advise you
properly. Even if we do advise you, it is important that you carefully
review the appropriateness of our advice before acting on our
recommendation. What
sort of information do you need to disclose to the insurer? It
is important that you understand your obligation to provide the insurer
with all the information they require to make an informed decision about
the risk, asset or property you want to insure. To
assist them to assess the risk and the appropriate premium, the law
requires you to disclose all the information you know, or should know,
that is relevant to the insurer’s decision to provide insurance or the
terms on which to provide the insurance. For example, you should
disclose your history of losses or claims. Your
failure to disclose relevant information may void your cover or
prejudice any claim so it is important that you are as open and honest
as possible. This duty extends to notifying your insurer of any
significant changes that occur during the period of your insurance. You
should also ensure that the insurer is aware of everyone who has an
interest in the property or asset to be insured so that their interests
are protected. Remember
that in the event of a claim, if your insurance is inadequate to cover
the loss, you may be required to bear a proportion of the loss or claim.
If
you have any questions about your duty of disclosure you should ask us
to assist. Can
Remingtons help me with Premium funding?
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