call us for a quick quote

1300 1300 50

Financial Services Guide

INSURANCE AND MEMBERSHIP SERVICES LTD

COTA INSURANCE

This Financial Services Guide (FSG) is intended to assist you in determining whether to use any of our services.

It includes information about remuneration that may be paid to us in relation to the insurance products offered and what you can do if you have a complaint about our services.

Key information is set out here in answer to specific questions. If you need more information or clarification, please call us on 1300 1300 50.

This FSG excludes services we provide on COTA Travel Insurance, COTA Pet Insurance, Ezicover Life Insurance and COTA Funeral Bonds.

WHO ARE WE?

Insurance and Membership Services Limited (IMS), a company limited by guarantee, has operated an Insurance Agency since the company was formed in 1993. IMS provides commercial products and services to members of COTA and Ambassador Card holders. For the purpose of this FSG “we”, “our” or “us” means IMS.

Insurance and Membership Services Ltd

ABN 59 057 159 743

Authorised Representative No. 246235

Level 1, 16 Hutt Street Adelaide SA 5000

Tel: 1300 1300 50

Fax: (08) 8112 8180

Preparation Date: 25 August 2016

INTRODUCTION

This FSG is intended to give you information concerning our relationship with you prior to us providing you with a financial service. The information covered by this FSG includes:

•How we can be contacted

•What services we are authorised to offer you

•How we are remunerated

•How you contact us or our Licensees to lodge a complaint.

Where required, you will be given a Product Disclosure Statement (PDS) before or at the time you acquire any product as a retail client. The PDS contains information on the significant benefits and characteristics of the product and of the rights, terms and conditions attached to the policy to assist you in making an informed decision about whether to purchase it or not.

WHO WILL BE PROVIDING THE FINANCIAL SERVICE TO YOU?

The financial service will be provided by IMS. We are appointed as an authorised representative of Allianz Australia Insurance Limited (Allianz) to provide general advice on and deal in the financial products outlined below. We can be contacted via our toll free number, 1300 1300 50. Allianz’s details are as follows: Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFSL No. 234708 Level 12, Allianz Centre 2 Market Street, Sydney NSW 2000

Tel: 13 2664 Fax: (02) 8258 5099 Allianz has authorised the distribution of this FSG.

You may be provided with financial services by one of our employees who has been authorised by our Licensees as an authorised representative to provide general advice on and deal in the financial products outlined below.

GENERAL ADVICE WARNING

It is important that you understand and are happy with the products we and our representatives can arrange. We can give you general information to help you decide but do not provide advice on this insurance based on any consideration of your objectives, financial situation or needs. Before making a decision about whether or not to purchase the product/s please carefully read the Policy Documents to decide if it is right for you.

PROFESSIONAL INDEMNITY INSURANCE ARRANGEMENTS

Allianz is a general insurer authorised under the Insurance Act 1973 to carry on general insurance business and is supervised by the Australian Prudential Regulatory Authority (APRA) and subject to the prudential requirements of the Insurance Act. Because of this, Allianz is exempted from the requirement to hold professional indemnity insurance. Please contact Allianz if you require further information.

WHAT KIND OF PRODUCTS DO THOSE FINANCIAL SERVICES RELATE TO?

We and our relevant employees can provide you with general advice on and deal in general insurance products which include home buildings, home contents, motor vehicle, boat, caravan & trailer.

WHO DO WE ACT FOR WHEN PROVIDING SERVICES?

In arranging and providing general advice on insurance, we act as an agent for Allianz.

WHAT REMUNERATIONS DO WE RECEIVE FOR OUR FINANCIAL SERVICES?

We are paid a commission by Allianz for arranging a policy which is based on a percentage of the net premium (premium less Goods and Services Tax (GST), stamp duty and any other government charges such as fire service levy (where applicable), taxes, fees or levies). The commission is included in the premium charged and covers various expenses we incur in arranging the insurance. We may receive a profit share from Allianz for Home and Contents (excluding flood), Landlord (excluding flood), Domestic Motor and Caravan and Trailer insurance policies arranged by us (or renewed) with Allianz in each calendar year. If the agreed net earned premium threshold and the agreed profit threshold (determined according to a formula that takes into account matters such as the premium received, claims and expenses incurred) are met, we receive an agreed percentage of the profit which exceeds the agreed profit threshold. We also receive a marketing allowance from Allianz every six months. This is based on a percentage of the total gross written premium earned in the previous six months on Home and Contents (excluding flood), Landlord (excluding flood), Domestic Motor and Caravan and Trailer insurance policies arranged by us (or renewed) with Allianz. We pay our staff an annual salary and they may also receive bonuses based on their performance relating to sales of products and other business criteria. This does not affect the premium that any individual customer may pay.

Where you have been provided with financial services by an employee who is an authorised representative, we may pay them all or part of our remuneration.

Where a third party has referred you to us, we may pay them an agreed percentage of our remuneration or an agreed amount for the referral as a commission or fee.

From time to time, we may participate in sales incentive schemes and Allianz may provide other benefits such as promotional items, financial assistance for promotion of its products, business related conferences, study trips or other functions. We may also be eligible to qualify for other benefits such as awards or hospitality events. These benefits are provided to us at no additional costs to you.

If you would like more information about the remuneration that we receive, please ask us. This request should be made within a reasonable time after this FSG is provided to you and before the financial services are provided to you.

ARE THERE ANY RELEVANT ASSOCIATIONS OR RELATIONSHIPS WHICH MAY INFLUENCE US IN PROVIDING OUR SERVICES?

No (other than the agency and remuneration arrangements outlined above).

HOW CAN YOU PROVIDE US WITH INSTRUCTIONS AND TELL US HOW YOU WISH TO ARRANGE YOUR INSURANCE?

Simply call us on 1300 1300 50 or other means which we agree with you.

PRIVACY

Your privacy is important to us and we are committed to promoting a privacy policy that ensures the privacy and security of your personal information. Our privacy policy is available online here.

Alternatively a copy of our privacy policy can be sent to you by contacting IMS and requesting a copy.

Email: insurance@cota.com.au
Phone: 1300 1300 50

HOW DO YOU CONTACT US TO LODGE A COMPLAINT?

We have an Internal Dispute Resolution Officer who is available to provide assistance if you have a complaint about our services that requires resolution. Please call 1300 1300 50. If you are unhappy with our response we may refer it to the relevant Licensee. A dispute can be referred to the Financial Ombudsman Service Australia (FOS) subject to its terms of reference. It provides a free and independent dispute resolution service for consumers who have general insurance disputes falling within its terms of reference. Its contact details are: The Financial Ombudsman Service Phone: 1800 367 287 Post: GPO Box 3, Melbourne, Victoria 3001 Website: www.fos.org.au

Download our Financial Services Guide PDF here. FSG Financial Services Guide web PDF version

Make an
Enquiry
Required Field *