Financial Services Guide

 

The financial services referred to in this financial services guide (FSG) are offered by:

Professional Insurance Brokers (NSW) Pty Ltd
ABN 32 003 068 540
  3 Harold Street, North Parramatta NSW 2151
Phone: (02) 9630 8788
Fax: (02) 9630 0648
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Holder of Australian Financial Services Licence Number 241251

This Financial Services Guide may have been given to you under the Business Trading name of:

Security Industry Insurance Brokers.
3 Harold Street, North Parramatta NSW 2151
Phone: (02) 9630 8212
Fax: (02) 9683 7501
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

This FSG sets out the services that we can offer you. It is designed to assist you in deciding whether to use any of those services and contains important information about:

  • how to contact us
  • the services we offer you
  • how we and our associates are paid
  • any potential conflict of interest we may have
  • our internal and external dispute resolution procedures and how you can access them

Statement of advice
You will receive a statement of advice (SOA) whenever we provide you with advice which takes into account your objectives, financial situation and needs. The SOA will contain the advice, which will enable you to make an informed decision about your insurance needs.

When you ask us to recommend an insurance policy for you, we will usually only consider the policies offered by the insurers or insurance providers that we deal with regularly. In giving you advice about the costs and terms of recommended polices we have not compared those policies to other policies available, other than from those insurers we deal with regularly.

Product disclosure statement
If we offer to arrange the issue of an insurance policy to you, we will also provide you with, or pass on to you, a product disclosure statement (PDS), unless you already have an up to date PDS from the insurer. The PDS will contain information about the particular policy which will enable you to make an informed decision about purchasing that policy.

From when does this FSG apply?

This FSG applies from 12th January 2005 and remains valid unless a further FSG is issued to replace it.  We may give you a supplementary FSG.  It will not replace this FSG but will cover services not covered by this FSG.

How can you instruct us?

You can contact us to give us instructions by post, phone, fax or email on the contact number or details mentioned on page 1 of this FSG.

Who is responsible for the financial services provided?

Professional Insurance Brokers (NSW) Pty Ltdis responsible for the financial services that will be provided to you, or through you to your family members, including the distribution of this FSG.

Professional Insurance Brokers (NSW) Pty Ltdholds a current Australian Financial Services Licence no: 241251.  The contact details for Professional Insurance Brokers (NSW) Pty Ltdare on the front of this FSG.

Do you have any relationships or associations with the insurers who issue the insurance policies or any other material relationships?

Professional Insurance Brokers (NSW) Pty Ltdis a shareholder of Steadfast Group Limited (Steadfast). Steadfast has exclusive arrangements with some insurers under which Steadfast will receive between 0.5 - 1% commission for each policy arranged by us with those insurers.  This is used to operate Steadfast.  Depending on the operating costs of Steadfast and the amount of total premium we place with the participating insurers in any financial year, we may receive a proportion of that commission for all products arranged with the participating insurers in each financial year, at the end of each financial year.

What kinds of financial services are you authorised to provide to me and what kinds of financial product/s do those services relate to?

Professional Insurance Brokers (NSW) Pty Ltd is able to provide financial product advice (personal and general) and deal in general insurance products.

There are a wide range of insurance policies we can arrange.

These include, but are not limited to, the following insurance policies for retail clients:

  • Motor vehicle insurance;
  • Home building insurance;
  • Home contents insurance;
  • Sickness and accident insurance;
  • Consumer credit insurance;
  • Travel insurance; and
  • Personal and domestic property insurance
Professional Insurance Brokers (NSW) Pty Ltd is authorised to deal in general insurance products to wholesale and/or retail clients. We will do this for you as your broker unless we tell you otherwise. 

Will I receive tailored advice?

Maybe not in all cases. However, we may need information about your personal objectives, details of your current financial situation and any relevant information, so that we can arrange insurance policies for you, issue insurance policies to you or to give you advice about your insurance needs. We will ask you for the details that we need to know.

In some cases we will not ask for any of this information.  If we do not ask, or if you do not give us all of the information we ask for, any advice you receive may not be appropriate to your needs, objectives and financial situation.

You should read the warnings contained in any SOA, or any other warnings that we give you, carefully before making any decision about an insurance policy.

What information do you maintain in my file and can I examine my file?

We maintain a record of your personal profile, including details of insurance policies that we arrange or issue for you. We also maintain records of any recommendations or advice given to you.  We will retain this FSG and any other FSG given to you as well as any SOA or PDS that we give or pass on to you.

We are committed to implementing and promoting a privacy policy, which will ensure the privacy and security of your personal information. A copy of our privacy policy is available on request.  A copy is also available on our website, www.professionalinsurance.com.au.

If you wish to look at your file please ask us. We will make arrangements for you to do so.

What should I do if I have a complaint?

  1. Contact us and tell us about your complaint.  We will do our best to resolve it quickly.
  2. If your complaint is not satisfactorily resolved within 21 days, please contact our Complaints Officer on (02) 9630 8788 or put your complaint in writing and send it to our office at the address noted at the beginning of this FSG.  We will try and resolve your complaint quickly and fairly.
  3. Professional Insurance Brokers (NSW) Pty Ltdis a member of the Insurance Brokers Disputes Limited (IBDL).  If your complaint cannot be resolved to your satisfaction by us you have the right to refer the matter to IBDL. IBDL can be contacted on 1800 064 169.

How will I pay for the services provided?

We often receive a payment called commission, which is paid to us by the insurers.  However, in some cases we will also charge you a fee.  These will all be shown on the invoice that we send you.  You can choose to pay by any of the payment methods set out in the invoice.  You are required to pay us within the time set out on the invoice.

How are you paid?

We may be paid in a number of ways which vary according to the service you require and our arranagements with the relevant insurer.

Payment by the Insurer

Unless we tell you otherwise, we are remunerated by commission from the relevant insurer whenever you enter into an insurance policy arranged by us (including renewal and some variations).

The commission is a percentage of the insurer’s base premium (ie premium excluding stamp duty, fire services levy, GST or any other government charges, taxes, fees or levies). The rate ranges between 0 and 20% according to the type of insurance and cover provided and the way the transaction is arranged. The commission rate does not represent our profit margin as it also reimburses us for administrative and other expenses we incur in providing our service.  It also covers the cost of performing the distribution functions of the insurer such as data entry, marketing, annual renewal marketing and underwriting.

In some cases we may receive a volume bonus or a profit share from the insurer.

Fees Paid by You

We may charge you:

  • An administration fee in addition to commission when you enter into an insurance policy.
  • A flat fee for arranging an insurance policy or a fee based upon the time we spend advising you.
  • An annual management fee.

You will be informed of the nature and amount of any fee involved on the invoice that is sent to you.

Other remuneration information

Staff

Our staff receive an annual salary that may include bonuses based on our staff performance criteria.

Premium Funding

 We arrange premium funding for clients for which we receive a commission or other remuneration. This is usually calculated as a percentage of the premium (excluding government charges, levies and taxes). Sometimes we act as an agent for the premium funder. The rate of commission can vary between 1 and 3%.

Referrals

Where a third party has referred you to us, we may share part of our commission or fees with them or pay them an agreed referral fee. Where we provide advice to you as a retail client, we will tell you the remuneration that our associates and we are to be paid for providing the advice in the Statement of Advice.

We may receive a commission or other remuneration for referring you to loss adjusters, claims assessors, property valuers, claims management businesses, risk management services, finance companies, financial planning businesses, or other financial services. We will advise you of this commission.

Any questions?

If you have any further questions about the financial services Professional Insurance Brokers (NSW) Pty Ltd provides, please contact us.

Please retain this document for your reference and any future dealings with Professional Insurance Brokers (NSW) Pty Ltd.

How to contact us.

At PIB

(Professional Insurance Brokers P/L)

 

 

 

 

 

You can contact us by any of the following means:

Phone:                 (02) 9630 8788

Fax:                      (02) 9630 0648

Email:                   This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Website:               www.professionalinsurance.com.au

Mail:                      PO Box 2243, North Parramatta NSW 2151

In Person:             3 Harold Street, North Parramatta NSW 2151

How to contact us.

At SIIB

(Security Industry Insurance Brokers)

You can contact us by any of the following means:

Phone:                  (02) 9630 8212

Fax:                       (02) 9683 7501

Email:                     This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Website:                 www.siib.com.au

Mail:                        PO Box 2243, North Parramatta NSW 2151                         

In Person:               3 Harold, North Parramatta NSW 2151

 

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