IMPORTANT INFORMATION FOR ALL ETHICO BROKERS' CLIENTS.
|Full company name||Ethico Brokers (Pty) Ltd|
|Physical address||Unit 1, 14th Avenue Business Centre, 42 Kessel Street, Fairland 2170|
|Postal address||PO Box 73253, Fairland, 2030|
|Telephone number||010 133 0500|
|Fax number||086 551 7779|
|Our license to transact Reference number||FSP 6578|
Business as a Financial Categories of license
Category 11.2 Short term insurance: Personal lines
1.6 Short term insurance: Commercial Lines
|Mandates||We have a written mandate to represent various insurers and will only present terms to you where we have such an agreement.|
|Our Compliance Oﬃcer:||
Name: Clive Le Meme
Practice No: 6090
HOW DO WE GET PAID FOR WHAT WE DO?
Generally, we receive a commission from the insurer with whom we place your insurances. The level of these commissions vary depending upon product type and range from 10% for SASRIA, 12,5% for motor and to 20% for all others. Any fees due by you to us will be pointed out to you when we provide you with a quote or renewal terms and will also be shown on your policy schedule.
As a client, should you feel that your rights have been prejudiced, or you have been aggrieved in any way, you have the right to lodge a complaint. A copy of the complaints process is available upon request.
|Name||Judy de Sa|
|Address||Unit 1,14th Avenue Business Centre, 42 Kessel Street, Fairland, 2170|
We make every eﬀort to ensure that at all times we act in your best interests and in no way allow our own interests, potenialor actual, to inﬂuence our performance and the delivery of unbiased and fair ﬁnancial service to you. In furtherance of this objective, we want to ensure you fully understand the various interests we have, be they ownership, ﬁnancial or relationships with third parties. There are a number of entities with whom we can have a relationship of this nature and a summary of these is provided as follows.
|Underwriting Manager / Administrator||They are appointed either by a product provider (insurer) or the broker to manage a speciﬁc type of product on their behalf. They are also licensed ﬁnancial service providers.|
|Product Provider / Supplier||This is your insurer.|
Each of the above may well have companies that are associated with them with whom we have a relationship. These could be subsidiary or holding companies or certain natural persons such as spouse, children or parent. Where these relationships exist you need to be made aware of them.
See Quotation Annexure for information.
Product Suppliers: Name, Physical and Postal Address, Telephone details, Name and Contact details of their Compliance Department.
|Distributoin Channel||These are arrangements with any of the above or combinaon of these that provides support or services to us in our role of providing a ﬁnancial service to you.|
|Any other person||If there are any other persons that provide us with a ﬁnancial interest as part of the delivery of the ﬁnancial service.|
WHAT REPRESENTS AN OWNERSHIP OR FINANCIAL INTEREST?
|Ownership||Actual equity that was paid for.|
|Financial Interest||Cash, or its equivalent, vouchers, gift service, advantage, beneﬁt, discount, domestic or foreign travel, hospitality, accommodation, sponsorship, other incentive or valuable consideration.|
Any combination of these relationships and/or ownership or financial interests may present a potential conflict and as such we need to ensure that you are aware of these.
We also confirm that no staff is incentivized to give preference to any specific insurer and/or product and where incentives based on volumes of business are in place, these are supported by an assessment of the quality of business sold and procedures followed.
Do we have a shareholding in any insurer and/or cell captive arrangement? No
Do we receive more than 30% of our income from any insurer or cell captive? Yes. We receive more than 30% of our income from Old Mutual Insure and MUA
Do we have a relationship with any product / supplier that provides a ﬁnancial interest other than ownership? No
Do we have a relationship with any other FSP that provides an ownership or ﬁnancial interest? Yes, details can be obtained from email@example.com
Do we have a relationship with any other distribution channel that provides an ownership, ﬁnancial interest or support service? Yes. Broker Solutions Group (PTY) Ltd (FSP : 31598), an authorised ﬁnancial services provider, performs policy administration on behalf of Ethico Brokers (PTY) Ltd.
Do we have a relationship with any other person that provides an ownership or ﬁnancial interest? No
Immaterial Financial Interest: It is generally accepted practice within our Industry that “entertainment” is provided by the product provider to the ﬁnancial services provider (broker) and vice versa. The Rand value is limited per calendar year to R1, 000 and such limitations are dealt with and managed by our Management Policy.
WHAT ELSE SHOULD YOU KNOW?
As a client, no product provider or FSP may request or induce you, in any manner whatsoever, to waive any right or beneﬁt conferred on you, or in terms of, any provision of the FAIS Act and Codes of Conduct.
- To keep all information you tell us about yourself conﬁdential.
- Not to alter any documents you provide us with when submiting them to any insurer. Where we feel an error has been made we will advise you prior to submission.
- To never ask you to sign blank documents – wherever possible all documents, be they proposals or claim forms should be completed by you to ensure full and correct details.
- Never to take away any rights you have in terms of any legislation that governs the way we transact business.
- To supply a copy of any documents used in the preparation of your insurances, when required, free of charge.
Your insurer undertakes
- To be the one who provides the reason for any claim that is repudiated.
- To ensure that they write to you should they wish to cancel your policy and to give you at least 30 days' notice of their intention to do so.
If you are paying your premiums by debit order
- The debit order may only be in favour of one person/entity.
- It may not be transferred without your approval.
- You are entled to 30 days' notice of cancellation of the debit order.
- If you are paying for personal insurances you are entled to a period of 15 days grace in which to pay the premium (other than in the ﬁrst month of insurance).
If you are paying your premiums in any way other than monthly
- You are only entitled to a 15 day grace period if the insurances are in respect of your personal insurances, otherwise:
- All premiums must be paid at inception or by renewal date for the policy to be in force.
If you have a claim or are involved in an incident that could lead to a claim
- You must advise us immediately, preferably in writing. Your policy will contain conditions that relate to the early reporting of potential claims and it is important that you do not breach this responsibility.
If any of the information you've provided us with changes
- You must advise us immediately – policy cover, premiums and terms are based on what you told the insurer, so we need to advise them of any changes that could aﬀect their view of you and your policy.
The following offices can be contacted via one central number: 0860 662 837