Conflicts of Interest Policy
Senator Risk Management NZ prides itself in putting clients' legitimate interests first and foremost and at all times endeavors to provide quality professional advice and arrange suitable contracts of insurance with sound insurers at competitive premiums.
It is our official policy to avoid wherever possible conflicts of interest which could result in client disadvantage or detriment, but where these may be unavoidable, to disclose these to the client and obtain the client's informed consent.
If any member of staff has any doubts these should be raised with Nick Kaspers.
As a general guide:
- Where comparable quotations are obtained we will not recommend products which earn higher rates or remuneration, where to do so would be against the best interests of the client with particular regard to the scope of cover provided or the cost to the client.
- We do not have any close links with insurers or with parent, subsidiary or associated companies or other organisations which provide services to policyholders. Where a client is referred to another service provider the details of the referral will form part of the client records'.
- Where we offer any supplementary or 'bolt on' product to enhance a client's overall protection (such as motor uninsured loss recovery), this will always be made clear verbally and in documentation issued to the client. The client will always have the option of not taking up the offer of supplementary or 'bolt on' products.
- Where we use a binding authority, placing facility, preferred insurer or selected panel the arrangement will be regularly reviewed to ensure that the scope of cover, the secuirty of the insurer and the premium rates are competitive. (Where there is any doubt, the existence of the arrangement should be disclosed to the client).
- Our premium finance arrangements are reviewed regularly to ensure that the interest rates are competitive. (Where there is any doubt, the existence of the referred financier should be disclosed to the client).
- Any fees charged by us will be fair and reasonable for the work undertaken and will only be payable as agreed with the client and as stated in our written terms of business.
- We do not accept any gifts, (including benefits in kind), uneconomic 'soft loans' or other inducements from product providers where to do so would not be compatible with the duty we owe our clients. A full record or any gifts or benefits accepted will be maintained.