Disclosure Statement

Publicly Available Disclosure

LICENSING INFORMATION

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Guardian Insurance Limited (Trading as Guardian Insure and referred to as such hereafter), FSP number 1009528, holds a licence issued by the Financial Markets Authority to provide financial advice. Guardian Insure is authorised by that licence to provide advice.

NATURE AND SCOPE OF ADVICE

Guardian Insure provides advice to our retail clients about their personal insurances. Our Financial Advisers provide financial advice in relation to these financial advice products.

We only provide financial advice about products from certain providers which our listed in our disclosure guide.

The information below will help you understand what type of advice we can provide to you.

● We will provide advice tailored to your specific financial needs, objectives, and circumstances, as determined through a comprehensive consultation and needs analysis.

● We will help you choose and apply for cover that is suitable for your goals and circumstances.

● We have access to a range of insurers.

● Once we have chosen an insurer, and types and amounts of cover that are suitable to you, we will help you to obtain acceptance.

● We may also be able to help you maintain your insurance policy, for example if there are changes in your circumstances requiring changes to the cover.

● We may also refer you to other specialists if the need is apparent, such as mortgage advisers, legal professionals, investment specialists or general insurance advisers - at your request.

Below are the types of financial products we can assist with:

● Life Insurance

● Trauma Insurance

● Total and Permanent Disability Insurance

● Mortgage Repayment Insurance

● Income Protection Insurance

● Key Person Insurance

● Health/Medical Insurance

● Specific Injury Cover

● Redundancy Cover

● Waiver of Premium/Premium Cover

FEES AND EXPENSES

Generally you won’t be charged any fees for the financial advice we provide to you. This is possible because, on issuance of an insurance policy, the insurer usually pays commission to us. Any exceptions to this general position are explained below. If these exceptions will apply to you, we will let you know.

One-off fees

We may charge you a one-off fee if the following occurs:

There’s no commission: If you request that we provide financial advice and we do not receive a commission from the insurer, we may charge you a one-off fee. Any such fee would be agreed and authorised by you in writing before we complete the services, and would be based on an estimate of the time spent providing the advice.

This may arise in the rare event that you request that we provide financial advice in relation to either a product that is offered by an insurer that is not on our panel of approved insurers, or an insurance that is outside our usual arrangements with my approved insurers.

COMMISSIONS AND INCENTIVES

On acceptance of an insurance application by the insurer, the applicable insurer usually provides us with a commission payment, as described below.

The commission is generally an upfront commission payment, but an ongoing commission payment may also be paid by the insurer. The upfront commission is calculated as a percentage of the first year's premium that you will pay. An ongoing commission is calculated as a percentage of the premium that you pay for each year the policy is in force. You will receive further detail when we the nature and scope of the work we undertake for you is known and in our statement of advice.

We may also receive a referral fee or commission payment if we refer you to our referral partners.

CONFLICTS OF INTEREST

To ensure that our financial advisers prioritise our clients’ interests above their own, we 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 interest. We maintain registers of conflicts of interests, and the gifts and incentives we receive.

Our insurance partners will provide us commissions and from time to time, gifts such as event tickets and dinners.

We manage the resulting conflict of interest by ensuring our advisers only recommend products where the adviser is satisfied that those products provide the best outcome for our clients, when compared with any other product we are able to recommend, having regard to the nature and scope of the service agreed with the client.

COMPLAINTS AND DISPUTE RESOLUTION

We are always looking for ways to improve our service to you. If something has gone wrong, we want to know.  Please send an email to our director:

mitch@guardianinsure.co.nz

and tell us what has happened and how we can resolve matters. If you have any documents or correspondence that will help us understand your complaint, please attach them to your email.  When we receive your complaint, we will: 

 

–  acknowledge your complaint within two working days  

– gather and evaluate information about your complaint  

– respond to you within 10 working days.  

 

If we can’t resolve your complaint, or you aren’t satisfied with the way we propose to do so, you can contact the Insurance and Financial Services Ombudsman. IFSO provides a free, independent dispute resolution service that may help investigate or resolve your complaint, if we haven’t been able to resolve your complaint to your satisfaction. You can contact IFSO by email on info@ifso.nz, by phone on 0800 888 202 or by post at P O Box- 845, Wellington 6143.

DUTIES INFORMATION

Guardian Insure, and anyone who gives financial advice on our behalf, has duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:

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  • give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests (431k)
     

  • exercise care, diligence, and skill in providing you with advice (431l)
     

  • meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice) (431i)
     

  • meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should and give you suitable advice).

 

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.

Privacy

The key terms of the Financial Advice Provider’s privacy policy are summarised below:

Collection: The Financial Advice Provider may collect client information from a number of third parties. These can include accountants, insurers and employers with your authorisation.

Purpose: The Financial Advice Provider will collect and hold client information for the purpose of recommending insurance products to you

Disclosure: The Financial Advice Provider may disclose client information to third parties if the Financial Advice Provider considers it necessary to do so for the purpose above. These third parties include the following:

● The insurer(s)

● Service providers, e.g. organisations that provide the Financial Advice

● The Financial Markets Authority and other regulators

● Organisations involved in auditing the Financial Advice Provider.

Prior to disclosing client information, we will take all reasonable steps to ensure the third party has the same level of commitment to protecting the client information.

Further Use & Disclosure:

The insurers may also use and disclose client information in accordance with their own privacy policy. This includes using and sharing the information for the purpose of assessing the application and administering the policy – e.g. information might be shared with medical professionals or accountants in the event of a claim, authorities to assist in fighting fraud, money laundering or other criminal offences. If the Financial Advice Provider has an ongoing commission arrangement in place with the insurer over the term of the policy, the insurer will periodically disclose the premium to the Financial Advice Provider.

Marketing: The Financial Advice Provider and/or insurer(s) might use client information for market research purposes and for direct marketing purposes (whether through mail, email or telephone (including SMS/MMS) or other electronic means) to notify you of products or services that may be of interest to you.

You have the right to opt-out of electronic direct marketing.

You are not required by law to provide any personal information to the Financial Advice Provider, but any failure to do so might prejudice your chances of obtaining the correct insurance cover.

You have the right to request access to and correction of your personal information held by the Financial Advice Provider and insurer(s).

We collect personal information from you for the purposes of:

  • Evaluating and determining your request for financial advice;

  • Maintaining relevant records and advice reports;

  • Communicating with you in relation to our services, including providing you with occasional marketing material, which you can unsubscribe from at any time.

 

By engaging us to provide advice services to you, you consent and give authority to us to obtain your personal information from or disclose your information to, the following parties:

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  • Regulators and external compliance personnel or any service provider when implementing any of our recommendations or variations thereof and/or supplying products to you; 

  • Compliance advisers/personnel, product providers whom I/we have an agreement with, insurance companies, any claims investigators and claims assessors, ACC, financial institutions and any other persons or agencies deemed relevant; 

  • Our own personnel, and other professionals including but not limited to; solicitors, accountants, finance brokers and financial planners when such services are required to complement this advice, and/or as requested by you;

  • Any other individual or organisation where disclosure is required by law