Property Owner
| The Purpose of this
Guide This Financial Services Guide (FSG) is designed to assist you in deciding whether to use any of our services and contains important information about:
Who is Responsible for the Financial Services Provided? Scott Winton Nominees Pty Ltd trades as Scott Winton Insurance Brokers. We hold a current Australian Financial Services Licence (No: 239955) to provide general insurance broking services. We are authorised to advise and deal in the full spectrum of general insurance products. Scott Winton Insurance Brokers is responsible for the financial services provided to you, or through you to your family members, including the distribution of this FSG. In order to be granted and then retain our license we are required to commit to meeting stringent requirements in areas such as: staff training, organisational competence, management expertise, financial control and compliance disciplines. We have an ongoing requirement to maintain and enhance our professionalism to ensure that you receive fair and honest Financial Services from us. Who do we act for? We usually act on your behalf and in your interests in all matters. In some situations, it may be more appropriate for us to access insurance arrangements or manage claims where we act as the agent of the insurer. If and when this situation arises we will clearly explain and highlight this to you. How to Contact Us You are able to contact us by phone, in writing, by fax, email or in person. Our Services We offer a range of services to assist you to protect your assets and guard against unexpected liabilities including:
Our Products We can advise and arrange a broad range of insurances on your behalf including: Home Building and Contents, Private and Commercial Motor, Farm, Business Packages, Construction, Liability, Industrial and Professional covers. Retail Clients Under the Financial Services Reform Act (The Act) Retail Clients are provided with additional levels of protection from other insurance purchasers. The Act defines Retail Clients as: Individuals or a small manufacturing business employing less than 100 people or any other business employing less than 20 people.Some of the information in this FSG only applies to Retail Clients and it is important that you understand whether you are covered by the additional protection provided. Retail Client Issues If you are a Retail Client and obtain personal advice, that is, advice that takes into account your particular circumstances, we will give you a Statement of Advice, that sets out the advice provided as well as the basis on which the advice is made. If recommendations about the purchase of a particular financial product are made, we will also give you a Product Disclosure Statement at that time, which sets out details specific to that product. What We Expect From You To enable us to provide the right advice we need you to provide us with complete information about the risk(s) that you face and those that you want to be insured for. This should include information about your situation, needs and objectives. You should also tell us about any relevant changes as they occur so that we can review your insurance needs accordingly. If we do not have your complete information, we will be unable to properly review your circumstances, limiting our ability to give you the right advice. In such cases you should assess the appropriateness of our advice to your needs before acting on it. Of course we also ask you to pay our invoices on time and complete all proposal forms honestly, accurately and most importantly return them to us by the required date. Personal Information The Federal Privacy Act 2000 sets out the standards for the collection and management of personal information. With your consent, we will only use your personal information in relation to general insurance services. Further information on this is available upon request. Claims We will try and take the pain out of the claims process by assisting and advising you in regard to the scope of cover and explaining how the claims process works. We will promptly forward to you all claims documentation, insurance company settlement cheques and other information. Our Sources of Income We have the following sources of income: When we place insurance for you, we usually receive payment from the insurer. The amount payable varies between 0% and 25% of the base premium you pay. This is known as the commission. Full details on commission will be included in any Statement of Advice we send you. We may also receive profit share or non-monetary payments from underwriters if we have met set targets. We have a set of standard Broker Fees that we charge you for the cost of services that are not covered by the commissions received from insurers.
All fees payable for our services will be advised to you at the time of providing the advice or service. Any premiums received from you are held in a trust account prior to forwarding to your insurer. The interest earned on this money will be retained by us. Scott Winton Insurance Brokers is a shareholder of the buying group - Steadfast Group Ltd. Steadfast receives up to 1% commission on premiums paid from certain insurers. This income is used to operate Steadfast and any surplus funds may be paid to us as a dividend or as a rebate. 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. You can obtain a copy of Steadfast's FSG at http://www.steadfast.com.au We are also a member of the Zenith program through Zurich Insurance which is a profit share agreement which is paid if a target set by Zurich is met. The profit share will be a maximum of 20% of the difference between the target level accident year claims and the actual accident year claims. This only applies to insurances placed through Zurich. As a Zenith member we have access to member services including operating, compliance, procedures, advice and assistance, training and other services. These member services are funded by Zurich up to $7,000 per annum. Once this limit is reached all services must be paid by Scott Winton Insurance Brokers. How our Representatives are Paid Our representatives do not receive any benefit directly from the sale of a product to you. Our focus is on ensuring that staff concentrate on your needs first in all dealings with you. Our representatives may receive bonuses payable based on the overall performance of our business. These may be monetary or non-monetary bonuses. Any such bonuses are not directly and solely linked to the sale of Financial Services. Staff may also be rewarded by underwriters in non-monetary form for their support. This is not a common occurrence but can be attributed to our staff's overall benefits. If a person has referred you to us, we may pay them a part of any fees or commission received. This will be disclosed in any Statement of Advice you receive. Cooling Off Provisions All retail products are subject to a 14 day 'cooling off period'. This means that if you are not happy with the product, you have 14 days to withdraw from the contract at no cost to you. Complaints Clients who are not fully satisfied with our services should contact our complaints officer. We are also members of the Insurance Brokers Disputes Limited (IBD), a free consumer service. We also adopt the General Insurance Brokers Code of Practice. Further information is available from our office, or contact IBD directly on 1300 780 808 or visit www.ibdltd.com.au. When Does This FSG Apply From This FSG was prepared on the 29th of May, 2006. |
INTEGRITY · SERVICE · PERFORMANCE
FSG