37D Quay St Sanctuary Cove QLD 4212
PO Box 201 Sanctuary Cove QLD 4212
Telephone: 07 5500 3500
Facsimile: 07 5500 3599
This FSG applies from 13 March 2014 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 in this FSG.
Pro-Insure Pty Ltd is an advisory firm holding an Australian Financial Services Licence under the Corporations Act 2001 and is authorised to provide advice and deal in general insurance products to wholesale and retail clients. We are members of the:
National Insurance Brokers Association (NIBA) and subscribe to the Insurance Brokers' Code of Practice.
Insurance Broking Network of Australia (IBNA), which is a group of independent insurance brokers working together to increase their buying power on behalf of their clients.
Council of Queensland Insurance Brokers (CQIB).
This FSG contains important information and is designed to assist you in deciding whether to use any of our services; however, if you have any questions, please contact us. The following key information is provided in this FSG:
The services we offer you.
How we and others are paid.
Any potential conflict of interest we may have.
Our internal and external dispute resolution procedures and how you can access them
Arrangements we have in place to compensate our clients for losses.
We are committed to providing informed advice based on your specific needs and our market knowledge.
Our range of services includes:
Developing a plan to protect your assets and legal liabilities
Reviewing and advising on your general insurance needs
Arranging and renewing insurance policies for you
Arranging Premium Funding at your request
Assisting and managing your insurance claims
To ensure we provide advice that is appropriate to your circumstances, we need you to provide us with detailed information about the risk(s) to be insured, your needs and objectives and financial position. You should also tell us about any change in your circumstances as soon as they occur.
Further information when personal advice is given
We will provide you with further information whenever we provide you with advice which takes into account your objectives, financial situation and needs. This information may include the advice that we have given you, the basis of the advice and other information on our remuneration and any relevant associations or interests. This information may be contained in a Statement of Advice (SoA).
Where General Advice is given, information about remuneration will be provided to you upon request.
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 for 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.
You can contact us with your instructions by post, phone, fax or email on the contact number or details mentioned on the first page of this FSG.
Pro-Insure Pty Ltd is responsible for the financial services that will be provided to you, or through you to your family members, including the distribution of this FSG.
Pro-Insure Pty Ltd holds a current Australian Financial Services Licence No: 452548. Our contact details are shown at the top of this page.
Pro-Insure Pty Ltd is authorised to advise and 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.
Maybe, but 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 and give you advice about your insurance needs. We will only 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 Statement of Advice, or any other warnings that we give you, carefully before making any decision about an insurance policy. Where we provide you with advice about your insurance arrangements, that advice is current at the time that we give it. We will review your insurance arrangements when you inform us about any changes in your circumstances.
Pro-Insure Pty Ltd maintains a record of your personal profile, including details of insurance policies that we arrange for you. We may 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 are given or passed on to you for the period required by law.
If you wish to look at your file please ask us and we will make arrangements for you to do so.
Some insurance contracts do not cover the interest in the insured property or risk of anyone other than the parties named in the contract. An example of this is where a property is jointly owned or subject to finance but the contract only names one owner or does not name the financier. You should tell us about anyone or any legal entity that has an interest in the property or risk insured so that we can ensure they are noted on the policy.
Some insurance policies limit or exclude claims where the insured has limited or waived their rights to recover a loss from the person who was responsible for causing the loss. You should not sign any agreement that modifies or limits your rights of recovery from another party. Whenever you are asked to sign such a disclaimer, you should first seek our advice.
For each insurance product the insurer will charge a premium plus any relevant taxes, charges and levies. We often receive a payment based on a percentage of this premium (excluding relevant taxes, charges and levies) 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 period set out on the invoice.
If there is a refund or reduction of your premium as a result of a cancellation or alteration to a policy, or based on a term of your policy (such as a premium adjustment provision) we will retain any fee we have charged you. We may also retain commission depending on our arrangements with the insurer, or we may charge you a cancellation fee equal to the reduction in our commission.
When you pay us your premium it will be banked into our trust account. We retain the commission from the premium you pay us and remit the balance to the insurer in accordance with our arrangements with the insurer. We will earn interest on the premium while it is in our trust account or we may invest the premium and earn a return. We will retain any interest or return on investment earned on the premium.
If we receive commission it will be calculated based as a percentage of the premium you pay before stamp duty, GST and other charges are added. This commission does not increase the cost to you.
This commission may vary between 0% and 23.5% of the total that you pay depending on the type of policy. If we give you a Statement of Advice, we will show in that document any commission or other payments we will receive in relation to the policies that are the subject of the advice. If we charge you a broker fee, this will be shown separately on our invoice to you.
We do not often pay any commissions, fees or benefits to others who refer you to us (or refer us to an insurer). If we do, we will inform you of the commission, fees or any other benefits that we pay.
Our employees that will assist you with your insurance needs will be paid a market salary, or commission which may include, for the policies we arrange for you, a small percentage of our commission or fees.
If we give you personal advice, we will inform you of any fees, commission or other payments we, our associates or anyone referring you to us (or us to any insurer) will receive in relation to the policies that are the subject of the advice.
You may cancel a policy of insurance before expiry date, provided that the parties to the contract request cancellation in writing. You should be aware that penalties may apply to any mid-term cancellation and your insurer may be entitled to calculate any refund on a basis other that pro-rata. There may also be cancellation charges that apply.
Please note, some insurance policies do not allow a refund of premium upon cancellation of a policy.
We are a privately owned insurance advisory firm. We are also a Shareholder of IBNA Limited ("IBNA"). IBNA is a national marketing group that provides us with access to a range of resources and develops products and services for our clients. IBNA will receive between 0.25% – 2% commission from the Insurer towards marketing and administration for each IBNA product arranged by us.
These payments are used to operate IBNA. Depending on the operating costs of IBNA (including the costs of member services provided to us and other shareholders) and the amount of total business we place with the participating insurers in any financial year, we may receive some of that commission at the end of each financial year.
As an IBNA shareholder, we can access services including operating and compliance tools, advice and assistance from professional bodies, group insurance arrangements, product comparison and placement support, claims support and purchasing arrangements. These member services are either funded or subsidized by IBNA or available exclusively to shareholders for a fee. A copy of the IBNA FSG is available at www.ibna.com.au
Pro-Insure Pty Ltd is a member of the Council of Queensland Insurance Brokers Inc (CQIB). CQIB may receive royalties and/or sponsorship from financial product and service providers, depending on the continued support of the products by members. Sponsorship allows the product issuers/service providers the opportunity to promote their product range to CQIB members. CQIB also receives sponsorship from financial product issuers and other service providers, for its annual convention and monthly member meetings.
Funds received from royalties and sponsorship help meet the cost of the annual convention and member meetings, for running the CQIB secretariat and to provide members’ Education Programs. The Education Programs offer opportunities to enhance the skills and knowledge of members’ representatives so that they can provide informed advice to their clients.
If we arrange premium funding for you we may be paid a commission by the premium funder. We may also charge you a fee (or both). The commission that we are paid by the premium funder is usually calculated as a percentage of your insurance premium (including government fees and charges). If you instruct us to arrange or issue a product, this is when we become entitled to the commission.
Our commission rates for premium funding are in the range of 0 % to 2% of funded premium. When we arrange premium funding for you, you can ask us what commission rates we are paid for that funding arrangement compared to the other arrangements that may be available to you. The amount of our commission and any fee that we charge will be set out in the premium funding contract.
If you are not entirely satisfied with the services we provide, you can contact our Complaints Manager who will attempt to resolve any issues within 20 days.
Pro-Insure Pty Ltd is a member of the Financial Ombudsman Service (FOS). If your complaint cannot be resolved to your satisfaction by us you have the right to refer the matter to the FOS.
FOS can be contacted at:
Street Address: Financial Ombudsman Service, Level 12, 717 Bourke Street, Docklands 3008
Mailing address: Financial Ombudsman Service, GPO Box 3, Melbourne 3001
Ph - 1800 367 287
Fax - 03 9613 6399
Email - email@example.com
Website - www.fos.org.au
Pro-Insure Pty Ltd has a Professional Indemnity Insurance Policy (PI policy) in place. Our PI policy covers us and our representatives for claims made against us and our representatives by clients as a result of the conduct of us, our employees or representatives in the provision of financial services. Our PI policy will cover us for claims relating to the conduct of representatives who no longer work for us.
Our duty as insurance brokers does not extend to giving legal advice. You should consult your legal adviser when you need advice on legal matters.
If you have any further questions about the financial services that Pro-Insure Pty Ltd provides, please contact us.
Please retain this document for your reference and any future dealings with us.
Date Issued: 13 March 2014