Collection of information via website activity
For statistical purposes we collect information on web site activity (including but not limited to: the amount of users visiting the web site, the date and time of their visits, how many pages were viewed and the length of time spent on each page, navigational patterns, the country and which systems users have utilised to access the web site, and through the use of ‘cookies’ when entering this web site through, or from, another web site. This information does not identify an individual who is accessing the web site. However it does provide us with information that we can use to improve and analyse our web site.
A ‘cookie’ refers to a packet of information which allows the server to identify and interact more effectively with your computer. A ‘server’ is a computer that is used to house the web site. When you use this web site, we send you a cookie that assigns you with a unique identification number. This happens each time you access our web site. Cookies do not identify individual users, however they do provide us with some information. This information includes your Internet Service Provider (ISP), as well as your browser type. Through your browser, you can adjust your settings to accept or reject all cookies. You can also configure your browser to notify you when a cookie is sent. In order to do this, please refer to your browser help screen, or your browser instructions for more information regarding these functions. Please be aware that if you do reject all cookies on this web site, you may be unable to use this web site.
Web site Advertising
In order to analyse the efficiency of our advertisement campaigns and our web site advertising, we may use third-parties to collect data of a statistical nature. However, no personal information will be collected during this process.
We are committed to, and take all reasonable precautions to protect the personal information that you provide to us from unauthorised access, modification, or disclosure, as well as loss or misuse. We have a variety of security measures in place to provide a safe environment for your data and information. We do not provide specific details regarding our security measures, however our security measures include, but are not limited to:
– Data encryption for information sent from your computer to our systems during submissions of contact forms.
– No retention of bank account, credit card, or other payment information. All payments are made via DEFT, BPAY, or via a third-party finance company (Premium Funder).
– The use of firewalls, virus scanning tools, and intrusion detection systems in order to protect against unauthorised users and viruses from entering our system.
– The use of 256-bit SSL encryption.
We maintain a record of your personal profile, including details of insurance policies that we arrange for you. We may also maintain records of any recommendations or advice given to you.
We will retain this FSG and any other FSG given to you as well as any SOA or PDS that we give or pass on to you for the period required by law.
We value the privacy of personal information and are bound by the Privacy Act 1988 (Cth) when we collect, use, disclose or handle personal information. We collect personal information to offer, provide, manage and administer the many financial services and products we and our group of companies are involved in (including those outlined in this FSG).
Personal information may be obtained by us directly from you or, sometimes, via a third party such as your employer or an immediate member of your family.
When information is provided to us via a third party we use that information on the basis that you have consented or would reasonably expect us to collect your personal information in this way and we take reasonable steps to ensure that you have been made aware of how we handle your personal information.
The primary purpose for our collection and use of your personal information is to enable us to provide insurance services to you. Sometimes, we may use your personal information for our marketing campaigns, in relation to new products, services or information that may be of interest to you.
However, should you choose to withdraw your consent it is important for you to understand that this may mean we may not be able to provide you or your organisation with insurance or to respond to any claim you submit.
If you have previously provided us with permission to show your name and occupation for marketing purposes, you may revoke this permission at any time in writing to us, or by emailing us using the contact information on the first page of this FSG.
How will I pay for the services provided?
All services can be paid for in any number of ways, including by BPAY, and Credit Card. How to pay will be clearly displayed on your invoice. You can choose to pay by any of the payment methods set out in the invoice.
For each insurance product, the insurer will charge a premium that includes any relevant taxes, charges and levies.
These will all be shown on the quotes and invoices that we send you. You are required to pay us within the time set out on the invoice.
How are we remunerated?
We usually receive a payment based on a percentage of this premium (excluding relevant taxes, charges and levies) called commission. Commissions range from 0% to 50%.
We may also charge a Broker Fee for policy invoicing, premium collection and remittance and issuing policies and other insurance administration work. This charge will appear on your invoice and will vary depending on the work and the commission we receive.
You agree that we may retain all our commission, fees and other remuneration in full in the event of any cancellation of a policy, alteration, or the future downward adjustment of premium. You also agree that both we and the insurer may offset such remuneration from any premium refund you are entitled to.
Please note that we treat our remuneration as fully earned when we issue you with a tax invoice, unless we have a written agreement with you that varies this statement.
When you pay us your premium it will be banked into the Sphere Insurance Group None Interest Trust Account.
Sphere Insurance Group will forward the premium paid in full to the insurer, once the Policy goes into force Sphere Insurance Group then remits to us our agreed percentage of all fees and commissions; Sphere Insurance Group deducts a management fee from our commissions and broker fees of between 7% and 15% from the total commission and broker fee received and pays the remainder of the broker fee and commission to us.
We do not often pay any commissions, fees or benefits to others who refer you to us or refer us to an insurer. If we do, we will pay commissions to those people out of our commission or fees (not in addition to those amounts).
If we arrange premium funding for you, we may be paid a commission by the premium funder. We may also charge you a Brokers Fee. The commission that we are paid by the premium funder is usually calculated as a percentage of your insurance premium including government fees or changes. If you instruct us to arrange a product, this is when we become entitled to the commission.
Our commission rates for premium funding are in the range of 0% to 5% of funded premium.
When we arrange premium funding for you, you can ask us what commission rates we are paid for that funding arrangement compared to the other arrangements that were available to you. The amount of our commission and any fee that we charge will be set out in the premium funding contract.
Service Issues and Complaints
We are committed to providing quality services to our clients. This commitment extends to giving you easy access to people and processes that can resolve a service issue or complaint. If you have a complaint about the service we have provided to you, please address your enquiry or complaint to the staff member providing the service.
If we are not able to resolve the issue immediately, or within five days, we will refer it to the Complaints Manager, who will review the complaint and advise you in writing of the expected time for resolution. You can also refer your enquiry or complaint to the Complaints Manager at any time by:
– Email: firstname.lastname@example.org
– Telephone: (07)4564 9003
If you are still not satisfied with the outcome determined, you may contact the AFCA can be contacted by mail:
GPO Box 3, Melbourne VIC 3001.
Call on 1800931678.
email email@example.com or website www.afca.org.au
Sphere Insurance Group Pty Ltd has a Professional Indemnity insurance policy (PI policy) in place to cover us and our representatives and employees against claims in relation to our conduct as their Authorised Representative, to compensate clients or their beneficiaries for loss or damage suffered if we provide negligent advice.
Insurance placed with Unauthorised Foreign Insurers
We will identify the policies that we have placed with an unauthorised foreign insurer (on your instructions) and the specific information relating to that insurer.
If the policy is an atypical risk or the policy cannot reasonably be placed with an Australian authorised insurer and we have placed the policy with an unauthorised foreign insurer (on your behalf), please note:
An unauthorised foreign insurer is an insurer that is not authorised under the Insurance Act 1973 (Cth) (‘the Act’) to conduct insurance business in Australia and is not subject to the provisions of that Act, which establishes a system of financial supervision of general insurers in Australia that is monitored by the Australian Prudential Regulation Authority (APRA).
The insurer cannot be a declared general insurer for the purpose of Part VC of the Insurance Act 1973 (Cth), and, if the insurer becomes insolvent, you will not be covered by the Federal Government’s Financial Claims Scheme provided under Part VC of that Act.
You should consider whether you require further information regarding:
– The country in which the insurer is incorporated, and what scheme of financial supervision of insurers applies;
– The paid up capital of the insurer;
– The insurer’s rating by credit rating agencies;
– The insurer’s financial reports; and
– Which country’s laws will determine disputes in relation to the policy.
As your insurance broker, we do not warrant or guarantee the current or ongoing solvency or financial viability of the insurer because we have no control over the insurer’s performance and this can be affected by many complex commercial and economic factors. The solvency of an insurer can change significantly between the time an insurance contract is entered into and the time a claim may be made. If you have concerns about the insurer’s solvency you should review the insurer’s credit rating from time to time.
If you have any further questions about the financial services we offer or about Sphere Insurance Group Pty Ltd, please contact us.
Phone: 1300 859 381