Compliance

Compliance – an overview

Insurance Advisory Service have our own Australian Financial Service License (AFSL). As an AFS licensee, we have a general obligation to do all things necessary to ensure that we provide our financial services efficiently, honestly and fairly. This is to ensure that you “the client” are looked after and treated with respect and fairness.

We have specific obligations relating to:

• conduct and disclosure
• the provision of our financial services
• the competence, knowledge and skills of our responsible managers, as well as their good fame and character
• the training and competence of our representatives
• ensuring our representatives) comply with the financial services laws
• compliance, managing conflicts of interest and risk management
• the adequacy of our financial, technological and human resources, and
• our dispute resolution and compensation arrangements

We must comply with the conditions of our licence as well as the Corporations Act 2001.

Insurance Brokers Code of Practice

All reputable professions are governed by a strong Code of Practice – and insurance broking is no different.

The Insurance Brokers Code of Practice is an agreement between NIBA and its members (and other brokers who subscribe to the Code), which sets out the minimum service standards that clients can expect from brokers. It also outlines how complaints and disputes regarding potential breaches of the Code can be resolved.

The Code aims to:

• build professional competence in the broking profession; and
• increase consumer confidence in insurance brokers – and the role they play in the insurance process.

Our Complaints Procedure

Insurance Advisory Service (N S W) Pty Ltd (IAS) subscribe to the Insurance Brokers Code of Practice and are a member of the Australian Financial Complaints Authority (AFCA). Therefore, we are committed to attempt to resolve any issues promptly and fairly in accordance with our Complaints & Disputes Policy.

If you are not satisfied with a product, service, or possible breach by your broker, authorised representative or one of our team:

1. Please contact your Insurance Advisory Service (N S W) Pty Ltd (IAS) representative with whom you are dealing.
2. If your complaint is not satisfactorily resolved or responded to, please contact our Complaints Officer on 02 8268 2900 or put your complaint in writing and send it to:
   
   Complaints Officer
   Insurance Advisory Service (N S W) Pty Ltd
   PO Box 1073, North Sydney NSW 2059
   info@insuranceadvisoryservice.com.au
   
   We will attempt to resolve your complaint fairly and quickly. The Complaints Officer will acknowledge your complaint in writing and endeavour to resolve the matter within 30 calendar days of receipt.
3. If an issue has not been resolved to your satisfaction, you may seek further review by:
   1. Contacting the Steadfast Customer Advocacy service.This service provides Steadfast Brokers’ clients with a means to obtain support, advice, and assistance regarding customer satisfaction and experience. If you are unhappy with any aspect of the services provided, and no acceptable resolution can be reached, the Steadfast Customer Advocacy service can be accessed.
      E: customeradvocacy@steadfast.com.au
      Or Ph: 02 9495 6500
   2. Contacting the Australian Financial Complaints Authority (AFCA), a free consumer service, to independently assess your complaint. AFCA’s contact details are below:
      In writing to:  GPO Box 3, Melbourne VIC 3001
      Telephone:    1800 931 678
      Email:              info@afca.org.au
      Online:            www.afca.org.au

Financial Services Guide (FSG)
The Financial Services Guide (FSG) is an important document. It is designed to assist you in deciding whether to use any of the financial services offered by us, as described in this FSG. We are required to give you an FSG if we provide certain financial services to you and you are a retail client.

Download: Financial Services Guide

Terms of Appointment & Uninsured Risks

It is our pleasure to confirm your appointment of our company as your insurance broker. We would like to takethis opportunity for our mutual benefit to record the terms of our appointment and to advise you of matters arisingunder The Insurance (Agents & Brokers) Act 1984 and the Insurance Contracts Act 1984.

One of our roles as your adviser is to highlight areas where you, may have an exposure to loss but are presentlyuninsured. The link below has a summary of some common insurance examples that may assist you to identify riskareas you hadn’t previously thought about insuring.

Download: Terms of Engagement/Appointment

Statement of Advice (SOA)

A document that sets out the advice given to a consumer by their licensed financial planner or adviser. It must include the basis on which the advice is given, details of the providing entity, and information on any payments or benefits the adviser or licensee will receive.

Privacy Policy

You can access our privacy policy here.