Business Disclosure Statement

Introduction

 

Thank you for allowing us to work with you on your General Insurance requirements. We take our responsibility to advise and support you seriously and will provide you with professional and personal service at all times.

 

This document sets out our disclosure requirements and our standard terms of business on which we will provide our services to you. We provide this document to meet our requirements under current regulations and to set out the terms of business that apply whenever you ask us to act for you for all services we provide to you, together with any additional or different terms as agreed in writing with you.

 

By taking on our services, you acknowledge acceptance of these terms. This means you do not need to sign any formal agreement to indicate your acceptance unless we ask you to.

 

These terms of business supersede and replace any previous terms of business you have received from us, and will apply unless and until we provide you with new or amended disclosures or terms of business or replace it with different terms agreed with you.

 

If there should be any inconsistency or conflict between these terms of business and additional or different terms agreed with you, we will respect the terms agreed with you.

 

About us

 

Financial Service Provider: MONTAGE GENERAL INSURANCE LIMITED

Telephone Number: 09 373 0700

Email address: general@mont.co.nz

Website: www.mont.co.nz
 

 

Important information

 

This will help you the Client make an informed decision whether we MONTAGE GENERAL INSURANCE LIMITED, and our adviser’s financial advice and products are suitable for your needs and whether to seek, follow or accept the Financial Advice. This Disclosure Statement is required under the Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendment Regulations 2020.
 

 

What sort of Advisers are we?

 

MONTAGE GENERAL INSURANCE LIMITED holds a licence issued by the Financial Markets Authority (FMA) to provide a financial advice service (being the provision of financial advice on fire and general, life and health insurance products. Under this licence, we may only provide you financial advice in relation to fire and general.  MONTAGE GENERAL INSURANCE LIMITED is a Financial Provider under the licence. The licence came into effect when the Financial Services Legislation Amendment Act 2019 (FSLAA) came into force on 15 March 2021.

 

As a Licensed Authorised Body, we have Standard Conditions on our license, these conditions are not specific to us and does not limit or restrict Advice that may be given.

 

We are committed to providing our clients with good financial advice that is suitable for our client’s needs. We only provide financial advice on Insurance Products.

 

How do we get paid for the Financial Advice and Products that we provide to you?

 

We receive commission (brokerage) when you, the client accepts our financial advice and purchases an insurance policy. The commission is paid to us by the Insurer (product provider) based on each insurance policy that you purchase. The commission only applies to the company premium and natural disaster premium portion of the total premium and excludes any fire emergency levies, EQ levies or other government charges.

 

The commission is paid to us and can be between the range of 0-27.5% of the insurer portion (total premium of the Insurance Policy less government levies and taxes).

 

Policy Administration Charges and Fees

We may charge a policy administration charge and/or Broker Fees for financial advice. We will tell you what the fee is and we will show these charges and/or fees on your policy invoice. These charges and fees are only payable by you the client when our advice is followed, accepted and the insurance policy is purchased. The fees we charge are for our service, placement, implementation, and administration of the insurance policies that you choose to accept and purchase. The total fees payable may increase with the number of insurance policies that you choose to purchase Fees may be received alternately or in addition to commission.
 

 

Our Advisors Act with Integrity

To ensure that we and our advisers prioritise your interests above our own, we follow an advice process that ensures recommendations are made based on your individual requirements, goals, and circumstances. Our advisers complete annual and ongoing training about how to manage conflict of interests and a register of interests is maintained. We perform an annual review of our compliance programme.

 

You should be aware there may be potential conflicts of interest that you the Client may need to take into consideration when you decide to seek and accept financial advice from us or our advisers, we will make you aware of any conflicts when giving advice.

Complaints Process

We take our service responsibility to your seriously. If you have a problem, concern or you are dissatisfied with either a product or financial advice service that has been provided by us or one of our Advisers and you require action to be taken please tell us so that we can help and fix the issue. Please contact us directly or feel free to use our Complaints Process, which you will find at www.mont.co.nz.

If a complaint is received by us, we will approach all complaints with an open mind, listen and treat each complainant as an individual and with courtesy and respect. We will promptly acknowledge the complaint at the earliest possible opportunity and make every attempt to resolve your complaint in a timely manner, with staff escalating as necessary to Senior Management or Complaints Manager. You will receive a written decision, remedies, and resolution as soon as practicable after we have decided the outcome.

If you feel your complaint is not resolved to your satisfaction using our complaints process, or you are unsatisfied with the response or resolution, you can contact Financial Services Complaints Ltd (FSCL) which is a dispute resolution scheme we are a member of. This service is free to you and is an independent service that will help investigate or resolve the complaint. You can click on this link to find out how to make a complaint to:

Financial Services Complaints Limited

http://www.fscl.org.nz/complaints/how-make-complaint   

You can contact (FSCL) at:

Postal Address: P.O. Box 5967, Wellington 6145

Email: info@fscl.org.nz

Telephone: 0800 347 257 Website: http://www.fscl.org.nz/

 

 

Our Advisor Duties to You - our Client

Our Advisers give financial advice to clients on MONTAGE GENERAL INSURANCE LIMITED behalf.  When giving advice all our Advisers must:

 

  • Hold a Level 5 New Zealand Certificate in Financial Services, (by 15 March 2023)

  • Maintain competence, knowledge, and skills for giving financial advice by completing continuing professional     development.

  • Abide by the Code of Professional Conduct for Financial Services and have Ethical behaviour, good conduct and provide Client Care. https://www.mbie.govt.nz/assets/a96d1b4800/code-of-professional-conduct-for-financial-advice-services.pdf

  • Listen to the client carefully to discover their needs.

  • Recommend products or services that meet the client needs and explain why.

  • Give clear and concise communication.

  • Protect client information.

  • Give priority to the client’s interests when giving financial advice.

  • Please see below a link to our Client Service Standards Statement found on our website. www.mont.co.nz