Who is responsible for the final advice to us on insurance matters?
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The short answer is our brokers. Our brokers 'of record' are AON. We deal with AON NZ on advice and placement is made with AON Australia as the Australian team have a broader practice with Rotary. The industry body, the Insurance council of New Zealand has a section on broker conduct which is at:
https://www.icnz.org.nz/industry/industry-regulations/
and which is excerpted here in italics
Broker conduct
Many
people buy insurance through an insurance broker. New Zealand
regulation sets professional standards for all financial advisers,
including insurance brokers, under the new financial advice regime under
the Financial Markets Conduct Act 2013 Financial Advisers Act 2008,
which is enforced policed by the Financial Markets Authority.The
new financial regime increases will increase professional standards for
all financial advisers, requiring advisers to put clients’ interests
first and adhere to certain conduct and competency standards ..... The new financial advice regime, including
the code, came into force on 15 March 2021.
On the type of insurance that we need for our Districts, Club and Members the insurance companies deal through brokers.
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