As your insurance broker, we will provide the following services.
We will seek quotes from the broader general insurance market before making a recommendation. We have arrangements with multiple insurers and underwriters, which enables us to find the right insurance product for you.
In return for the services we provide, we will receive a commission usually between 5 and 28 per cent of the premium paid (excluding relevant taxes, charges, and levies) which is paid to us by the insurer and a fee, payable by you should the work required in obtaining adequate cover deem this appropriate.
If a cover is cancelled before the expiry of the period of insurance, we reserve the right to refund to you only the net return premium we receive from the insurer and not refund any part of the brokerage and/or broker fee we receive for arranging the cover. A broker fee may be charged to process the cancellation.
You are required to pay outstanding premiums to Lockmor Insurance Brokers within the time set out on our invoice issued to you upon new business placement and renewal placement.
When making a recommendation, we will not take into consideration your personal objectives, financial situation, or needs. Before taking any action, you should consider whether the advice we have provided is appropriate to you having regard to your individual circumstances. Clients should obtain and read the relevant product disclosure statements before making a decision.
Unless we agree otherwise, our appointment commences from the date the terms of engagement are signed by the client. This appointment may be cancelled in writing with 30 days’ notice.
We also provide you with a Financial Services Guide (FSG). This document contains important information about our relationship with you such as:
Lockmor Insurance Brokers agrees to notify us of any changes to terms of trade or disclosure obligations.
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