When providing Covered Services on your behalf we will exercise reasonable care and skill, including communicating with you in a clear and prompt manner.
When you are buying insurance and we act on your behalf, we will do the following (unless we agree with you or tell you otherwise):
- when we provide you with a Personal Advisory Service in relation to the insurance we will:
- act in your best interests by:
- identifying your objectives, financial situation and needs as disclosed to us by you through your instructions;
- identifying the subject matter of the advice that has been sought by you (whether explicitly or implicitly);
- identifying your objectives, financial situation and needs that would reasonably be considered as relevant to advice sought on that subject matter (Relevant Circumstances); and
- making reasonable inquiries to obtain complete and accurate information where it is reasonably apparent that information relating to your Relevant Circumstances is incomplete or inaccurate. Something is “reasonably apparent” if it would be apparent to a person with a reasonable level of expertise in the subject matter of the advice that has been sought, were that person exercising care and objectively assessing the information given;
- warn you if it is reasonably apparent that information relating to your objectives, financial situation and needs on which the advice is based is incomplete or inaccurate, and tell you that because of this, you should, before acting on the advice, consider the appropriateness of the advice having regard to your objectives, financial situation and needs;
- provide advice that is appropriate for your needs. This can include, where appropriate in the circumstances, a reasonable explanation of the terms of the insurance that the advice is being provided on;
- where the insurance is to be provided by a foreign general insurer that is not authorised under or subject to the provisions of the Insurance Act 1973 (which establishes a system of financial supervision of general insurers that carry on general insurance business in Australia), we will:
- inform you of the general risks we believe are involved in transacting insurance with such an insurer; and
- answer your questions;
- assist you to determine the level of insurance cover you may require;
- assist you to determine your policy requirements and arrange, acquire and maintain your insurance policies for you;
- only request an authority to obtain information from your insurers relevant to the services we are to provide for you;
- promptly provide to insurers any insurance proposal and application forms or other information required by them;
- only advise you that insurance is available on specified terms (insurance conditions, coverage or premiums) where the declared insurer has provided such terms;
- take all reasonable steps to promptly make available to you copies of any relevant insurance documentation we receive, including but not limited to policy wordings, schedules, certificates and endorsements;
- promptly advise you if policy coverage is accepted, declined, cancelled or lapsed or has had additional special terms applied to you;
- receive all general insurance notices from the insurer on your behalf and pass the notices or relevant information in the notices to you promptly (including but not limited to renewal information where relevant);
- in relation to Group Purchasing Arrangements (as defined below):
- where the person can separately elect and pay to access the benefit and we act for the contracting insured, we will tell the contracting insured of the importance of:
- taking reasonable steps to make copies of the relevant policy terms available to the relevant persons at or before the time they make the election and pay; and
- complying with relevant law as it applies to them in relation to such arrangements.
A “Group Purchasing Arrangement” is where the policy provides the benefit of being able to claim under the policy to persons who are not contracting insureds (e.g persons covered by reason of section 48 of the Insurance Contracts Act 1984 (Cth)).
When you have an insurance claim and we act on your behalf we will (unless we agree with you or tell you otherwise):
- assist you in making and progressing a claim (including but not limited to providing you with claim forms and claims advice), and will act in your best interests in doing so;
- on receiving an insurer’s response to a claim, inform you as soon as reasonably practical of that response; and
- assist you and negotiate with insurers on your behalf in the event of a claim being disputed or rejected.
When we act for an insurer and not on your behalf we will:
- tell you if we are acting for an insurer and not for you before or at the time we provide our services for certain transactions. This is important because in these circumstances we will not be acting on your behalf;
- comply with any obligation that the insurer has under any law or code of practice the insurer subscribes to, where relevant to our conduct and subject to our agreement with the insurer;
- take all reasonable steps to promptly make available to you or your agent copies of any relevant insurance documentation evidencing the insurance in force, including but not limited to policy wordings, schedules, certificates and endorsements; and
- reasonably assist with any requested acquisition, arrangement or management of your insurance policies, including but not limited to any endorsement, reinstatement, replacement, renewal or cancellation of such policies.