Disclosure Statement

Advice that we provide

• PIC Insurance Brokers Limited (PIC) (FSP39341) holds a licence issued by the Financial Markets Authority to provide a financial advice service. This licence covers financial advice on fire & general and life & health insurances. PIC is not an insurer.
• I am a Life & Health Insurance qualified financial adviser giving advice on behalf of PIC. You can check that I am a registered financial adviser by searching my name on the Financial Service Providers Register.
• In providing financial advice to an individual, family or business owner, I will consider all your life & health insurance needs, taking into account your existing policies in relation to the scope of advice that we agree between us. I am unable to provide advice on existing whole of life or endowment policies. Please see the list of the insurers we work with here.
• In providing financial advice to a business for the purpose of implementing an employee benefit scheme, I will present a range of options in relation to the established scope of benefits the business wishes to provide for their employees, taking into account any existing employee benefit schemes the business may already have. Please see the list of the insurers we work with here.
• If you would like to discuss your other insurance needs, such as home, contents, vehicle, marine or commercial insurances, I can refer you to an appropriate financial adviser within PIC.
• We do not provide:
  • financial advice in relation to any other financial products;
  • advice on trusts, wills or enduring powers of attorney, or any other forms of asset protection or estate planning;

  • valuation or tax advice relating to your insurance.

Fees, commissions & conflicts of interest

• When a personal or business policy is issued, PIC will receive commission from the insurer. The commission will be:
  • in the year you take out the policy, up to 240% of that year’s annual premium; and
  • in each following year the policy remains in force, up to 25% of each year’s annual premium, or $170.79 for policies with Southern Cross Medical Association.
• When an employee benefits scheme is issued, PIC will receive commission from the insurer. The commission will be:
  • in the year you take out the scheme, up to 30% of that year’s annual premium; and 
  • in each following year the scheme remains in force, up to 30% of each year’s annual premium, or $170.79 for each member with Southern Cross Medical Association.
    PIC also receives fees from some insurers for certain policy administration and management services that we provide to them. These fees do not relate to the advice we provide.
• You will be advised of the commission when we provide you with a Statement of Advice. If you cancel a policy within 2 years, PIC may need to return all or part of the commission it was paid.
• As a salaried financial adviser, I do not receive commission for any insurance that you take out following my advice. From time to time, I may receive non-monetary benefits (such as gifts, meals or entertainment) from insurers and other third parties in recognition of our relationships and the overall business provided to them.
• We take reasonable steps to appropriately manage situations where there may be a conflict of interest. If I become aware of any situation not disclosed where a conflict could arise, I will disclose it to you. To ensure I manage conflicts, I follow an advice process which ensures that the recommendations I make are based on your individual goals and circumstances. I also complete training about how to manage conflicts of interest and gifts.

My duties as an adviser

In providing you with financial advice, I have to comply with certain duties under the Financial Markets Conduct Act 2013. A summary of these duties can be found at pic.co.nz/disclosure

Complaints process and dispute resolution

Our goal is to provide you with the highest levels of quality service and support at all times. However, if you do have a complaint or encounter a problem, please let us know as soon as you can. More detail about how to make a complaint and how our internal complaints and dispute resolution processes work can be found at pic.co.nz/complaints