Terms of Engagement

Our Services 

As your insurance broker, we will provide the following services. 

Pre placement services 

• Help you identify and assess your risks and develop a proposal to submit to potential Insurer(s) • Provide advice on risk mitigation and management strategies 

Insurance placement and premium financing  

• Seek insurance quotes (for more information see “Approaching the Market”) 
• Negotiate policy coverage and policy renewal annually or as otherwise agreed  
• Seek to bind coverage where you have authorised us to do so (except in urgent circumstances where unless you  instruct otherwise, we may choose to bind insurance on your behalf if we consider that is in your best interests) • Obtain and provide a quotation for premium funding 

Post-placement services 

• Prepare and manage claims if an insured event occurs 
• Advocate on your behalf during the claims process 
• Facilitate policy changes and/or cancellations as per your instructions 

Approaching the market 

We will seek quotes from the broader general insurance market before making a recommendation. We have  arrangements with multiple insurers and underwriters, which enables us to find the right insurance product for you. In  certain circumstances, we will not seek multiple quotations for you. Instead, and only where we believe it is appropriate  for your needs, we may approach only one insurer. 

Remuneration 

In return for the services we provide, we will receive a commission usually between 5% and 26.5% of the premium paid  (excluding relevant taxes, charges and levies) which is paid to us by the insurer and a fee, payable by you. 

Policy  

If a cover is cancelled before the expiry of the period of insurance, and provided the relevant policy contains a  cancellation clause allowing it, we will refund to you only the net return premium we receive from the insurer and not  refund any part of the brokerage and / or fee we receive for arranging the cover. A separate fee may also be charged to  process the cancellation.

Payment Terms 

You are required to pay the invoice amount to McLardy McShane within 14 days – as set out on our invoice. 

Our advice to you 

When making a recommendation, we will not take into consideration your personal objectives, financial situation or  needs. Before taking any action, you should consider whether the advice we have provided is appropriate to you having  regard to your individual circumstances. Clients should obtain and read the relevant product disclosure statements  before making a decision. 

Period of Engagement 

Unless we agree otherwise, our appointment is for 12 months after the insurance placement or renewal date. This  appointment may be cancelled in writing, providing 30 days’ notice.  

Financial Services Guide (FSG) 

We also provide you with a Financial Services Guide (FSG). This document contains important information about our  relationship with you such as: 

• Our status as a licensed financial services provider; 
• disclosure obligations on your part and ours; 
• potential conflicts of interest that we have in our dealings with insurers and other service providers; • professional indemnity insurance arrangements;  
• internal and external complaints resolution procedures; and 
• details of our privacy policy  

We will notify you of any changes to terms of trade or services provided.