insurancehq legal information
The following information provides you with an important overview of insurancehq, our duties to you, fees, and how we manage complaints.
License Status and Conditions
insurancehq limited, FSP764012, trading as insurancehq holds a financial advice providers license issued by the Financial Markets Authority
Nature and Scope of the Advice
insurancehq provides advice to our clients about their general insurance needs. Insurancehq advisers can provide financial advice in relation to:
Domestic insurance which is limited to:
- Landlords home,
- Landlords contents,
- Motor vehicle,
- Boat insurance.
When discussing domestic insurance, we work with only ANDO Insurance.
Life and Disability insurance, including but not limited to:
- Trauma protection,
- Disability insurance,
- Medical group schemes
- Key person,
- Business risk insurance,
- Total and Permanent Disablement Insurance
When discussing risk and medical insurance, we work with the following New Zealand based companies: Partners Life, AIA Insurance, Cigna Insurance, Fidelity Life, nib insurance and Southern Cross.
Fees and Expenses
Insurancehq does not charge fees, expenses or any other amount for any financial advice provided to its clients. Insurancehq is paid a reduced commission directly from the insurance companies upon implementation of a specifically designed insurance solution/policy.
Conflicts of Interest and Incentives
insurancehq has strong working relationships with New Zealand based insurance providers. These relationships allow us to provide competitive medical underwriting decisions and meet our expected service expectations to a high standard.
If you decide to follow our adviser’s advice and this advice results in the implementation of an insurance solution/policy, insurancehq will receive commission upon implementation of this insurance solution/policy. The amount of commission is based on the amount of the premium on an initial, and ongoing basis.
Insurancehq does not operate on a full upfront commission model, instead of reducing the amount of commission received on the implementation of a policy.
Insurancehq believes in their recommendations provided to all clients and have an ongoing responsibility to ensure these clients needs and insurance requirements are managed to a high standard on an on-going basis. This means insurancehq will receive an ongoing commission payment from the insurance company for this service.
To ensure that our financial advisers prioritise our clients’ interests above their own, we pay our advisers on a salary basis; to remove any individual financial gain.
Insurancehq policy is to only engage with clients where there is a clear benefit to be gained for our clients, otherwise, we will refuse to engage.
Insurancehq have a clear conflict of interest’s policy and procedures. Our financial advisers follow an advice process that ensures our recommendations are made on the basis of each client’s goals and circumstances. All our financial advisers undergo annual training about how to manage conflicts of interests. We undertake a compliance audit, and review of our compliance program annually, completed by an external compliance adviser.
Complaints and Disputes?
If you are not fully satisfied with the service provided by an insurancehq adviser, please contact your adviser, or insurancehq directly.
Insurancehq complaints officer will acknowledge your complaint in writing within 24 hours, and endeavour to resolve your complaint in a timely manner. You can find more about our complaints process in our Complaints Process document (download / online link).
Insurancehq believe in providing better customer outcomes through understanding your risk and delivering bespoke advice.
We are bound by duties outlined under the Financial Markets Conduct Act 2013, and must:
- Meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (code of conduct). These are designed to ensure our advisers have the expertise to provide you with financial advice
- Take steps to ensure that you understand the nature and scope of the advice we give you and advise of any limitations to this advise.
- Give priority to your interests, by taking all reasonable steps to ensure our advice does not pertain any conflict of interest; influencing our own interests.
- Exercise care, diligence and skill.
- Treat our clients fairly and act with integrity.
- Make certain disclosure information available to you, at certain time. We must not provide false or misleading information.
insurancehq limited holds a financial advice provider licence issued by the Financial Markets Authority.
You can contact us at:
- Phone: 0800 762 711
- Email: firstname.lastname@example.org
- Post: PO Box 54183, The Marina, 2144, Auckland.
Further disclosure information regarding complaints is available to download here.
At insurancehq, we are focused on providing excellent customer service and quality products. Our business focus and key endeavour is to provide better customer outcomes.
If you do not believe we have delivered on this promise, we would like to hear your comments.
Complaints are a valuable way to maintain and improve our standards.
If you have a complaint regarding our advisers service, explanation, product outcome or do not believe we have met the requirements outlined in our disclosure and/or Nature and Scope of our Advice; we would like to hear from you. We prefer that you contact your adviser first. If you do not feel comfortable in doing this, or believe the complaint will not be resolved, you can contact insurancehq using the following methods.
- Phone: 021 424 027
- Email: email@example.com
- Andrew Malcolm – Managing Director
We handle complaints first, internally, with an open mind and discuss the complaints handling process in a transparent manner. We will endeavour to resolve your complaint to your satisfaction, within 10 business days. If we have not resolved your complaint within this time-frame, we will outline why what action is underway and an understanding of the timeframe for resolution.
If you are unable to resolve your complaint with insurancehq, you may refer it to Financial Services Complaints Limited (FSCL) of which insurancehq is a member. FSCL is an approved independent dispute resolution scheme that handles complaints in the financial services industry, including financial advisers.
This service is FREE to customers.
Further information is available at www.fscl.org.nz, and is able to be contacted by phone on 0800 347 257.