Disclosure Information
DISCLOSURE INFORMATION
Licensing Information
Pulse Insure-tech NZ Ltd (“Pulse Insure”), FSP 1011919, distributes general insurance products in New Zealand as an Authorised Body of PSC Insurance Brokers NZ Ltd (PSCIB), FSP1001806, a Financial Advice Provider (FAP) licensed by the Financial Markets Authority (FMA).
There are no special licence conditions imposed.
Contact Information
National Manager
Email: customer.care@pulseinsure.co.nz
Level 3/139 Quay Street, Auckland City, Auckland
Nature and Scope of the Advice
We provide General Insurance advice to clients, and our Financial Advisers provide financial advice in relation to these financial advice products.
We will not provide advice on Life and Health Insurance, Investments, Kiwisaver, Medical Insurance or Mortgages, so you will need to consult a specialist if you would like advice on those products. We can refer a specialist to contact you if you require.
We can provide financial advice on a variety of products from a wide range of New Zealand based and overseas providers and includes but is not limited to:
Financial Advice Products and Providers
Financial Advice Products
Professional Indemnity & Public Liability Insurance
Providers
Ocean Underwriting
We are not aware of any material limitations or restrictions on the scope of financial advice service we provide. If these are identified, we will disclose them to you.
How We Get Paid
We earn our income from either a fee or commissions earned from providers or a combination of both.
Fees and Expenses
Should you proceed with our financial advice and we arrange insurance for you, then a fee may be charged.
This fee will be based on the amount of work and time required to provide and implement our advice and will be shown on your invoice.
If we arrange insurance for you and you cancel it part way through the insurance period, we may keep some or all of that fee.
We may charge a fee for making adjustments to your insurance during the insurance period. This fee will show on your invoice.
Sometimes other fees are charged that do not relate to the financial advice such as credit card fees. If so, we will advise you of this in our recommendation.
Conflicts of Interest and Incentives
When we arrange insurance for you, the provider(s) may pay us a commission. The amount of the commission varies between providers and products and is based on a percentage of the Premium.
If we arrange insurance for you and you cancel it part way through the insurance period, we may keep some or all of the commission from any refund due to you by the provider.
We have additional agreements in place with some Provider and Premium Funding companies where we receive Professional Services fees to assist with enabling a superior service to be provided in the offering of their Financial Advice Products and Premium Funding.
If a person or entity has referred you to us, we may pay them a percentage of the commission and/or fees we receive for their referral.
A financial adviser may have a conflict of interest in circumstances where financial advice has been provided to two clients who later have a dispute. If this occurs the financial adviser will disclose the conflict of interest to you and refer one client to another financial adviser for advice and assistance.
To ensure that our Financial Advisers prioritise your interests above their own, we follow an advice process that ensures our recommendations are made on the basis of the information you have provided and your unique circumstances.
We maintain a register of conflicts of interest, of gifts and any other incentives we may receive.
If we believe there is a conflict of interest – real or perceived – we will discuss this with you.
PSCIB also undertakes regular internal reviews to ensure compliance with these statements.
Premium Funding
Premium funding enables you to pay the insurance premium by instalments, rather than make a lump sum payment.
Premium funding companies charge interest and they take a power of attorney over your insurance policy. This means they have the ability to cancel your insurance policy if you fail to pay an instalment.
If you enter into a premium funding arrangement, the premium funding company will pay us a commission as a percentage of the amount they fund.
We will disclose the amount of this when we know the scope and nature of the advice you need and whether you want to pay by instalments.
Complaints Handling & Dispute Resolution
Please refer to our Internal Complaints Process that can be found here.
Duties Information
Pulse Insure and anyone who gives financial advice on their behalf have 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 as 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 FMA website here.