PUBLIC DISCLOSURE STATEMENT – RMA General Limited
Statement of Service and Disclosure
Our statement of service sets out our commitment to you when providing Fire and General insurance services as your Advisor.
Our Statement of Service provides information on our status under the Financial Markets Authority (FMA), our membership to the Insurance Brokers Association of New Zealand (IBANZ), and our affiliation with the national NZBrokers Group.
It also tells you:
- how we operate
- how we are remunerated
- what to expect from us when making a claim
- when invoices are to be paid, the ways to pay, and what may happen when payment is not received
- when you can cancel a policy and the basis for refunds including the retention of any brokerage or commission.
It’s important that you read this information as it let’s you know what we need from you and what you can expect from us. You can read this information from here.
Registration Details
RMA General Limited (FSP691192) holds a licence issued by the Financial Markets Authority (FMA) to provide a financial advice service. Under this licence we may only provide you financial advice in relation to fire and general insurance.
There are four Associated Bodies authorised to provide a financial advice service under RMA General Limited (FP691192), they are:
- Bercloe Limited (FSP1006055)
- CB Insurance Limited (FSP767971)
- Johnson Insurance Limited (FSL768111)
- Southern Lakes Consultants Limited (FSP707091)
Personal Disclosure statements can be found for each of our Advisors on our website Team page.
Scope of Services
When reviewing your insurance needs, we look at a range of Insurers mainly within New Zealand, and in some cases overseas.
We offer both Domestic and Commercial insurances, the types of policies advice will be given about:
Domestic Insurances: Dwelling, Contents, Motor Vehicle, Marine Craft, Motor Bike, Mobile Home, Caravan
Commercial Insurances: Commercial Motor, Liability, Business Interruption, Material Damage, Contract works, Carriers, Marine Cargo. For an extensive list refer to our Uninsured Checklist here. A quote document is available on our website click here.
For a list of Products and Insurers providers refer to RMA General Company Disclosure – Insurance Product Providers.
Service Fees
For placing your insurance, we usually receive a commission paid by the insurer, as a percentage of the “insurer company premium”. This is the standard way insurance brokers are remunerated and, depending on the type of insurance, our rates of commission typically range from 0% to 25%, before any government fees or charges.
We may alternatively, or in addition, charge a broker service fee, which varies according to the level of services rendered. Fees may apply to financial advice, administration and/or the implementation of a policy, and in agreed bases fee-based remuneration may replace insurer commission-based agreements.
To ensure transparency of charges, our invoicing sets out the premium, government levies, and fees charged and, in accordance with the FSLAA, discloses the gross commission from your insurers.
Conflicts of Interest
It’s our policy to avoid conflicts of interest and to disclose any potential conflict to you as soon as possible.
We follow a Discovery advice process to ensure our recommendations are based on your needs and circumstances. Should a conflict arise we follow our Conflict of Interest Policy to manage the issue towards a resolution.
The policy explains the types of conflict situations, our responsibilities, and desire to avoid conflict. It also sets out our responsibilities to disclose and our recommendation to you for legal advice.
Complaints and Dispute Resolution
Our responsibility to you is to try and resolve complaints. It’s important that you communicate the details of the complaint to either your advisor, or their manager, as soon as possible. You can also write to our office: RMA General Limited PO Box 300874 Albany 0632.
Our process is to:
- Acknowledge the complaint as soon as possible, preferably within 2 working days.
- Clarify understanding and explain the next steps to both parties.
- Fully investigate and communicate an explanation of what is being done to address the complaint with a final response aimed at within 20 days of the date of complaint.
- Record the complaint in the RMA Complaints Register.
RMA General Limited and its Associated Bodies are aligned to the Financial Services Complaints Ltd authority (FSCL). If we cannot resolve the complaint, it will be referred to the FSCL.
This is a free and independent service offering impartial dispute resolution services to the New Zealand Insurance industry. The scheme investigates and resolves complaints between clients and RMA General as it does for others in the scheme.
In the event of a complaint, you can contact FSCL by phone on 0800 347 257, email info@fscl.org.nz or write to PO Box 5967 Wellington 6140.
Duty of Care
RMA General Limited has a duty of care to protect our clients through our Privacy Policy and by adhering to the Financial Markets Conduct Act 2013.