Why Use an Insurance Broker
A Statewide Insurance broker can save you time, money and worry. Just like an accountant or lawyer who provides you with professional advice, based on years of training and experience, a qualified broker can do the same with your insurance.
When arranging insurance, many people take shortcuts without seeking proper advice, understanding the fine print or considering whether they are getting value for money. Often they are disappointed when their insurance doesn’t come to the rescue. Whether it’s business or personal insurance, insurance brokers provide advice and assistance to make sure you are properly protected.
Using an insurance broker doesn’t necessarily cost more. Often it saves you money in time and premium cost, as brokers have in depth knowledge of the insurance market and the ability to negotiate on your behalf. A broker should also explain your policy where need be, and any special situations you need to watch out for.
You will benefit most by developing a close business relationship where the broker understands your future plans, the associated risks and how you like to do business.
An insurance broker’s foremost duty is to his or her client. An insurance broker works for you, not for the insurance companies.
- help you to assess and manage your risks, and provide advice on insurance solutions appropriate for your needs;
- help you to arrange, acquire and maintain insurance; and
- act as your advocate in settlement of any claim that may be made by you under your insurance.
- assistance with selecting and arranging, tailored insurance policies and packages;
- detailed technical expertise including knowledge of insurance markets, prices, terms and conditions, benefits and pitfalls of the wide range of insurance policies available on the market;
- assistance in interpreting, arranging and completing insurance documentation;
- experience in predicting, managing and reducing risks;
- experience with claims and settlements; and
- assistance with services related to insurance such as premium funding and risk management reviews.
Why Use Statewide
At Statewide Insurance Brokers, our mission is to provide an expert and exceptional service, acting for our clients in the provision of insurance advice, placement and related financial services.
Our Reputation, Experience and Trust forms the basis of our company, and we endeavour at all times to uphold principles of excellent customer service, value for money, and professional expertise.
- Industry Qualified Staff
- Comprehensive Insurance Reviews, Analysis & Policies
- Effective Price and Cost Saving Solutions
- Trust Accounting Compliance and full Regulatory Compliance
- Insurance Premium Funding
- Claims Advice and Negotiations
- Ongoing Lifecycle Full Program Support – whenever you need it.
- We are available at all times – to service any insurance needs.
As a Statewide client, we can provide access to :
- Customised policies not publicly available, including greater policy coverage not normally available in standard insurance policies,
- Real time market comparisons, allowing comprehensive policy analysis,
- Claims negotiation, including highly technical and extreme financial loss situations,
- Choice of policies from over 100 insurers, including all general insurers and specialist niche underwriters,
- Specialist Broker Tools, including placement, comparison and pricing analysis.
< img height="1" width="1" style="border-style:none;" alt="" src="//googleads.g.doubleclick.net/pagead/viewthroughconversion/989690046/?value=0&guid=ON&script=0"/>< /div> What are our Regulatory Requirements
As an Australian Financial Services Licence holder, we are subject to and bound by a number of strict requirements. As a brokerage that has been in operation since 1970, our reputation forms the foundation of our business, and we endeavour to uphold high ethical and moral standards at all times. We exist within a heavily regulated Financial Services environment, and are proud to have done so for many decades.
Our AFS licensee Requirements and Obligations
- Financial requirements (eg solvency and cash)
Licensing: Financial requirements (RG 166)
- Responsible managers (qualifications and experience)
Licensing: Organisational competence (RG 015)
- Monitoring, supervising and training your representatives
Licensing: Training of financial product advisers (RG 146)
- Compliance and risk management
Licensing: Meeting the general obligations (RG 104)
- Technological and human resources
Licensing: Meeting the general obligations (RG 104)
- Managing conflicts of interest
Licensing: Managing conflicts of interest (RG 181)
- Dispute resolution (internal and external)
Licensing: Internal and external dispute resolution (RG 165)
- Compensation and insurance arrangements
Licensing: Compensation and insurance arrangements (RG 126)
- Conduct and disclosure
Licensing: Regulatory Guide 168
Further information can be found at www.asic.gov.au
In addition to our AFS licence requirements, we also adhere to multiple other regulations, including: Corporations Act, Trade Practices Act, Privacy Act, Insurance Act, Insurance Contracts Act, Insurance Brokers Code of Practice, Financial Ombudsman Service & the Consumer Credit Code