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33 James Street Burleigh Heads QLD 4220 ABN: 64 088 550 074 |
Financial
Services Guide The
financial services referred to in this financial
services guide (FSG) are offered
by: Croakers
Insurance Pty Ltd (ABN: 32 091 343
609) As Authorised
Broker Representative of: AUSTRALIAN
INSURANCE SOLUTIONS PTY LTD
(ABN:
64 088 550 074) Our Australian
Financial Service Licence No. is
246939 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
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 15th June
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? AUSTRALIAN
INSURANCE SOLUTIONS 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. AUSTRALIAN
INSURANCE SOLUTIONS PTY LTD holds a
current Australian Financial Services
License no: 246939. The contact details
for AUSTRALIAN INSURANCE SOLUTIONS PTY
LTD are on the front of this
FSG. Do
we have any relationships or
associations with the insurers who
issue the insurance policies or any
other material
relationships? AUSTRALIAN
INSURANCE SOLUTIONS PTY LTD is 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 product arranged by us with those
insurers. These payments are used to
operate Steadfast. Depending
on the operating costs of Steadfast
(including the costs of member services
provided by Steadfast to us and other
Steadfast shareholders) and the amount
of total business we place with the
participating insurers in any financial
year, we may receive a proportion of
that commission at the end of each
financial year. As a
shareholder of Steadfast we have access
to member services including model
operating and compliance tools,
procedures, manuals and training,
legal, technical, banking and
recruitment advice and assistance,
group insurance arrangements, product
comparison and placement support,
claims support and group purchasing
arrangements. These member services are
either funded by Steadfast, subsidised
by Steadfast or available exclusively
to shareholders for a fee. 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. You
can obtain a copy of Steadfast's FSG at
www.steadfast.com.au
What
kinds of financial services are you
authorised to provide to me and what
kinds of financial product/s do those
services relate to? AUSTRALIAN
INSURANCE SOLUTIONS 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. Sometimes
we may act under a binder or agency
from the insurer. When we act under a
binder or agency we will be acting as
the agent of the insurer. This means
that we represent and act for the
insurer, not for you. We will tell you
when we act under a binder or agency to
arrange your insurance or advise you
about your insurance needs. 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. If
you wish to look at your file please
ask us. We will make arrangements for
you to do so. 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 any commissions, fees or other
benefits calculated for providing the
financial services? Our
commission will be calculated based on
the following formula: X
= Y% x P In
this formula: X
= our commission Y%
= the percentage commission paid to us
by the insurer. A summary of our
commission percentages is set out in
attachment 1. P
= the amount you pay for any insurance
policy (less any government fees or
charges included in that
amount). The
commission that we earn from the
underwriter can range from 10% to 21%
of the base premium (before fees and
charges). The broker fee we charge is
from $50. These ranges are dependant on
the type of cover and are all inclusive
in the final figure we quote
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 pay commissions to those people
out of our commission or fees (not in
addition to those amounts), in the
range of [A] to [B]% of
our commission or fees. Our
employee that will assist you with your
insurance needs will be paid a market
salary which may include a
commission. If we
give you a SOA, we will list in that
document 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. See
above for information on the Steadfast
association and commission. What
should I do if I have a
complaint? Any
questions? If
you have any further questions about
the financial services AUSTRALIAN
INSURANCE SOLUTIONS PTY LTD provides,
please contact us. Please
retain this document for your reference
and any future dealings with AUSTRALIAN
INSURANCE SOLUTIONS PTY LTD. |
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