DISCLOSURE

Disclosure Information

The following information provides you with an important overview of Continental Insurance Brokers Limited, our duties to you, fees and how we manage complaints.

Licence Status and Conditions

Insurance Advisernet New Zealand Limited, FSP 26221, holds a license issued by the Financial Markets Authority to provide financial advice services. Continental Insurance Brokers Limited, FSP 1005540, is an authorised by that license to provide financial advice services. 

We have met the required standards of competency, knowledge and skills of the Code of Professional Conduct for Financial Advice Services.

Nature and Scope of Advice

Continental Insurance Brokers Limited provides advice to our clients about their general insurance needs. Our financial advisers provide financial advice in relation to :

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Domestic General insurance including but not limited to

• House
• Contents
• Motor Vehicle
• Pleasurecraft Insurance 
• Travel

Commercial General Insurance, including but not limited to :

• Material Damage
• Business Interruption
• Commercial Motor Vehicles
• Mobile Plant and Heavy Machinery
• Marine
• Event and Prize Indemnity
• General Liabilities
• Professional Indemnity
• Cyber Insurance.

When providing our advice, we access a wide range of general insurance products from various general insurance providers in both the local and overseas market.

Privacy

We are committed to protecting your privacy in accordance with the Privacy Act 2020 and the New Zealand Information Privacy Principles. We maintain a Privacy Statement and Privacy Collection Notice which outlines how we collect, disclose and handle your personal information. You can review our Privacy Statement on our website https://insuranceadvisernet.co.nz/privacy-statement or by contacting us. Our Privacy Collection Notice forms part of our Statement of Services.

We only collect personal information relevant to us providing you with the recommendations and advice contained within proposed Insurance Report. The information collected has been used to evaluate the insurance you are seeking and is required pursuant to the common law duty to disclose all material facts relevant to the insurance sought.

You have the right to access and correct this information, subject to the provisions of the Privacy Act 2020.

Fees, Expenses, or Other amounts payable

You are entitled to know how and what we will charge for our services and what other benefits we receive.

When you take out, alter or cancel insurance cover following our advice, CIB may charge you an Adviser Service Fee plus GST and charges. IANZ may also charge an administration fee for processing insurance premiums. CIB may also receive a commission from the Insurance Company of between 5% and 25% of the premium. These fees and commissions will be clearly noted on your premium summary and invoice.

If we refer you to a premium funder with whom you enter into a premium funding arrangement, CIB may receive a commission of between 0% and 4% of the amount you borrow.

Conflicts of Interest and Commissions or Other Incentives

CIB may pay your Financial Adviser a salary, plus bonuses and other incentives. CIB and your Financial Adviser may receive indirect benefits from insurers and premium funders such as business lunches, tickets to sporting and/or cultural events or corporate promotional merchandise.

We recognise that the above commissions and incentives may create conflicts of interests for CIB and your Financial Adviser. There may also be conflicts of interest between different clients of CIB.

To manage these conflicts we follow an advice process that ensures our recommendations are made based on your financial goals and circumstances. Your Financial Adviser undergoes specialist training in how to manage conflicts of interest. IANZ undertakes compliance audits of CIB and your Financial Adviser and also annually audits our conflicts of interest compliance framework.

We may, however, choose to rebate all or some of the commissions we receive and charge you a fee based on the nature of the service we provide which we will agree with you.

Complaints & Disputes Process

If you are not fully satisfied with our services or wish to make a complaint, please speak to your Financial Adviser or CIB in the first instance. If your complaint is not resolved to your satisfaction or you do not want to speak with your Financial Adviser, you may contact IANZ directly as follows:

                                                           Complaints Officer

                                            Insurance Advisernet New Zealand Ltd

                                                                PO Box 37670

                                                       PARNELL AUCKLAND 1052

                                                            Phone: 0800 524 760

                               www.insuranceadvisernet.co.nz/compliments-and-complaints

We will endeavour to resolve your problem openly and fairly and within a timely manner.

If you are unable to resolve your complaint with IANZ, you may refer it to Financial Services Complaints Limited (FSCL), of which IANZ is a member. FSCL is an approved independent dispute resolution scheme which handles complaints against financial service providers, including insurance brokers. FSCL is free to consumers and its decisions are binding on IANZ and CIB (but not on you). Further information about FSCL is available from IANZ and/or from www.fscl.org.nz . You may contact FSCL directly on 0800 347 257.

In some circumstances a dispute may arise between you and the insurer. In such circumstances CIB and IANZ will assist you with details of the insurer’s Internal Dispute Resolution process and, if the dispute remains unresolved, access to the Insurer disputes resolution scheme. If the dispute proceeds, you should obtain legal advice from a qualified lawyer.