PIC Insurance Brokers Limited Disclosure Statement

Licensing information

PIC Insurance Brokers Limited (FSP39341) is a Financial Advice Provider (FAP) and holds a licence issued by the Financial Markets Authority to provide financial advice. There are no conditions on the license to restrict or limit the advice that may be given.


Contact details

Phone: 0508 742 742

Email: insure@pic.co.nz

Mailing Address: PIC Insurance Brokers Ltd, PO Box 58842, Botany, Auckland 2163

Physical Address: Building 3, 15 Accent Drive, East Tamaki, Auckland 2013

Duties information

PIC Insurance Brokers Limited, 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:

  • Give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests
  • Exercise care, diligence, and skill in providing you with advice
  • 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)
  • 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.

Nature and scope of the advice

PIC Insurance Brokers Limited provides advice to its clients through its Financial Advisers.

Our financial advisers provide financial advice in relation to these financial advice products.

  • Fire & General insurance
  • Life Insurance
  • Health insurance
  • KiwiSaver

If our financial advisers are unable to provide advice on any particular product discussed, this will be made clear in the Scope of Service and Statement of Advice provided.

We only provide financial advice about products from certain providers. Click here for a full list of the insurers and provider we use.

From time to time, as new providers enter the market, we may add to the list of providers we work with and whose products we advise on.


Our remuneration is not our profit. It is the revenue from which we attend to our company affairs, pay salaries, rent, expenses, and taxes, and attend to all services on behalf of clients. This remuneration is earned in various ways, primarily through Fees and Commissions/Brokerage paid by insurance companies, premium funding companies and clients.


We may charge a fee for our services in lieu of, or in addition to, commissions paid to us by insurers.

We may charge an administration fee to cover disbursements and expenses incurred in the administration and servicing of clients.

We may charge a fee for the financial advice provided to a client where a client cancels a life or health insurance policy within two years of inception.

All fees to be charged and the manner in which they will be charged will be advised when the financial advice is provided to the client.

Commissions / Brokerage

PIC Insurance Brokers Limited receive commissions/brokerage from the insurance companies and providers on whose policies and products we give advice.

If you decide to take out insurance the insurer or provider will pay us a commission/brokerage.

The amount of the commission/brokerage may vary based on the type of insurance product and the insurer selected.

We may be delegated underwriting and claims handling authority for which we may be remunerated by the insurer. This remuneration may be a commission that is calculated as a percentage of premium or a fee.

In some cases we may also receive commissions/brokerage or other remuneration from an insurer based upon the volume or the profitability of insurance placed across a portfolio with that insurer over a period of time.

Conflicts of interest and incentives

We make every attempt to manage appropriately any situation in which there may be a conflict of interest. Should we become aware of a situation where a conflict of interest could arise we will disclose it to you.

Our financial advisers are salaried and do not receive any commission/brokerage from any insurance companies or product providers. From time to time, insurance companies and product providers may give PIC Insurance Brokers and our financial advisers tickets to sports events, hampers, or other gifts in recognition of our relationships and the overall business provided to them.

To ensure that our financial advisers prioritise the client’s interests above their own, we follow an advice process that ensures our recommendations are made on the basis of the client’s goals and circumstances. All our financial advisers undergo annual training about how to manage conflicts of interest. We undertake a compliance audit, and a review of our compliance programme annually by a reputable compliance adviser.

We also maintain a register of conflicts of interests and any gifts we receive. PIC Insurance Brokers monitors this register and provides additional training where necessary.

If we assist you with obtaining Premium Funding, we may receive a commission and/or fee from the premium finance company.

Complaints handling and dispute resolution

Our goal is to provide you with the highest levels of quality service and support at all times. But if you do have a complaint or encounter a problem, please let us know as soon as you can. Your feedback helps us continue to improve the products and services we offer. We are committed to sorting things out as quickly and fairly as possible, and we assure you that we will address your complaint quickly and sincerely.

We have a well-established and highly effective escalation process, meaning we will work with you to address your concerns as quickly as possible, whilst still providing you with options to take the matter further if you are unhappy with the outcome.

Step one – Talk to us

You can let us know about your concern in any of the following ways. A quick chat, email or meeting with one of our staff is often all that’s needed to sort out your concern.

Step two – Contact our complaint resolution team

If you feel that the staff member you dealt with did not resolve your complaint to your satisfaction, you can speak to the Complaints Officer through complaints@pic.co.nz or complete our Complaint Contact Form, including details of your complaint and what you would like to see happen as a result.

When we receive a complaint, we will aim to resolve it following our internal complaints process:

  • We will consider your complaint and let you know how we intend to resolve it. We may need to contact you to get further information about your complaint.
  • We aim to resolve complaints within 10 working days of receiving them.
  • We will contact you by phone or email to let you know whether we can resolve your complaint and how we propose to do so.

Step three – Ask the Insurance Ombudsman to help

We hope that your complaint has been resolved to your satisfaction before this stage. If we cannot agree on how to resolve the complaint, we will send you a letter of deadlock. You may then seek help from our dispute’s resolution scheme, the Insurance & Financial Services Ombudsman Scheme (IFSO) which provides a free, independent dispute resolution service that may help investigate or resolve your complaint.

How to Contact the Insurance Ombudsman

  • Call: 0800 888 202
  • Email: info@ifso.nz
  • Write to: Insurance & Financial Services Ombudsman Scheme, PO Box 10-845, Wellington 6143
  • Website: ifso.nz