We will use our knowledge and expertise to understand your personal circumstances or business situation, to assess your risks, develop an insurance strategy and to place insurance on your behalf in order to provide our services to you. As a result, we may receive commission from insurers with whose products you proceed with. The amount of commission varies depending on the insurer and policy type, but is generally calculated as a percentage of the insurance premium - excluding any applicable government charges, taxes or fees as determined by the insurer. The commissions fall within a range depending on the type of insurance policy you take.
We are entitled to retain all remuneration commission covering the full policy period for the insurances we have arranged for you, even where an insurance policy is amended, terminated or otherwise cancelled, subject to any right you may have to cancel the insurance during the "free look" period. Should an insurance policy arranged by us be cancelled at any time within 24 months of policy commencement, we will have to pay back earned commission. In such circumstances, we may charge a fee for our services equal to, but never greater than the commission returned to the insurer, or $2,500 +GST which ever is the lesser.
Other ways in which remuneration is utilised:
In addition to our remuneration noted above, we may also be remunerated for our services by other means. From time to time, we, and our employees and contractors, may receive non-monetary benefits from insurers including sponsorship of conferences, training, hospitality, and insurer-sponsored functions. You do not bear the cost of sending our staff to these events. We monitor our compliance with policies and procedures that ensure these situations do not create a conflict with your interests.