Financial Services Guide
Prepared by CoverDirect Pty Ltd on 27 September 2011AFS Licence Number 383590 I ABN 14 105 949 022
Purpose of this document
Cover Direct Pty Ltd (we, us, our and CoverDirect) wants you to understand the financial services we offer and has prepared this Financial Services Guide (FSG) to assist you to decide whether or not you wish to utilise our services.
In this FSG we outline:
- Who we are
- How you can contact us
- Existing relationships you should know about
- What financial services we are authorised to provide
- Information about remunerations, including commissions that may be paid to us
- Our protection against giving you negligent wrong advice
- Our Dispute Resolution procedure should you wish to make a complaint
Who we are
CoverDirect owns and operates www.comparetravelinsurance.com.au website. It holds an Australian financial services licence (383590), that authorises us to operate our comparison. We do not act on behalf of any insurers or licensee.
CoverDirect makes its comparisons available to third party websites. In these instances, the information is clearly marked 'powered by compare insurance'.
How you can contact us
Compare Insurance Pty Ltd
Level 11, 307 Pitt Street
Sydney NSW 2000
Email: info@compareinsurance.com.au
Website: www.comparetravelinsurance.com.au
Existing relationships you should know about
CoverDirect does not have ownership in any product provider. The directors and shareholders are common with insurance brands 1Cover, i-Trek, Kango Cover, Ski-Insurance and Under30. Those companies may be included on the compare insurance website in a similar way that other products are included. We do not act on behalf of those companies.
Financial services we are authorised to provide
CoverDirect is licensed to provide general advice on General Insurance to retail clients.
Comparisons supplied are not a recommendation or opinion about the suitability of the travel insurance for a user. CoverDirect has not considered your needs when providing comparisons. Users should consider their own needs and decide which travel insurance product is suitable - bearing in mind that not all policies offer the same or comparable cover. Always read the PDS to understand what is, and is not, covered by a policy before you purchase.
The site links users to the website of the travel insurance provider where you can confirm their quote. Users do not buy insurance on this site - they buy direct from the travel insurance provider.
Compare Insurance does not accept instructions in relation to our services directly from you.
Remuneration and Commissions
The service we offer to you is free and does not change the product.
If a user purchases insurance from a travel insurance provider using a link on this website, CoverDirect will earn a referral fee of up to10% of the premium for that policy. This does not increase the premium a user pays.
CoverDirect employs salaried staff. Employees do not receive specific payments or commissions directly linked to product providers or advice provided to you. CoverDirect is not remunerated for its opinions about insurance.
Protection against giving you negligent wrong advice
CoverDirect and its representatives are covered under professional indemnity insurance that satisfies with the requirements of the Corporations Act, 2001.
This professional indemnity will also cover claims in relation to the conduct of employees who no longer work for us (but who did at the time of the relevant conduct).
Dispute Resolution
In the unlikely event you need to make a complaint about the services provided to you, please email us in the first instance at info@comparetravelinsurance.com.au
If your complaint is not satisfactorily resolved, you may contact the Financial Ombudsman Service Limited (FOS), an independent external dispute resolution body.
FOS can be contacted on 1300 780 808 (Australia Wide). You can write to them at GPO Box 3, Melbourne VIC 3001, email info@fos.org.au or fax (03) 9613 6399. Website address is www.fos.org.au.
