Fair Conduct Summary

Introduction

Autosure Insurance Limited (“Company”) has a Fair Conduct Programme which is designed to ensure its consumers are treated fairly in compliance with the fair conduct principle when the Company deals or interacts with consumers in relation to their insurance contracts and when the Company designs, offers or provides to consumers the Company’s insurance related services and insurance contracts (the Company’s Services).

What is the Fair Conduct Principle?

The Fair Conduct Principle is that financial institutions must treat consumers fairly, including (but not limited to):

• • paying due regard to its consumers’ interests;
  • acting ethically, transparently, and in good faith;
  • assisting consumers to make informed decisions;
  • ensuring that the relevant services and associated products that the Company provides to consumers are likely to meet the requirements and objectives of likely consumers (when viewed as a group); and
  • not subjecting consumers to unfair pressure or tactics or undue influence.

How will the Company comply with the Fair Conduct Principle?

To meet the Fair Conduct Principle, the Company takes reasonable steps to comply with its Fair Conduct Programme. The Company’s Fair Conduct Programme requires:

• • Employees and agents: The Company’s employees and agents are required to follow the procedures and processes that are necessary or desirable to support the Company’s compliance with the Fair Conduct Principle and must comply with the Company’s Code of Conduct, supporting policies and Fair Conduct Programme. The Company provides training on the requirements of the Company’s Fair Conduct Programme and the Company’s consumer insurance services and consumer insurance contracts. All Employees are closely managed, supervised and monitored by their direct supervisors and managers to ensure that they are competent to carry out the work they are expected to undertake, their conduct is supporting the Company’s compliance with their Fair Conduct Principle and consumers have been treated by an employee in a manner which is consistent with the Fair Conduct Principle. Employees are also expected to communicate with customers in a timely, clear, concise and effective manner.
  • Intermediaries: The Company’s intermediaries are required under their Distribution Agreement to comply with the Fair Conduct Principle. Some intermediaries are financial advisers who are required to comply with the Code of Professional Conduct for Financial Advice Services which requires the financial advisers treat their clients fairly (among other things). The Company provides its intermediaries training on the Company’s insurance related services and insurance contracts and its fair conduct programme.
  • Management, Monitoring and Assurances: The Company reviews its business to identify conduct involving consumers that fails to comply with the Fair Conduct Principle and to identify reasonable steps to mitigate any actual or potential adverse effects of such failures. The Company also has compliance processes which are designed to ensure the Company meets its legal obligations to consumers. The Company’s New Zealand insurance services and insurance contracts are designed, managed, governed and regularly reviewed for consistency with the fair conduct principle.
  • Risk Management: The Company has policies, processes and controls in place to identify and manage the conduct risk (for example, the risk that the Company’s conduct fails to meet the Fair Conduct Principle). The Company’s Fair Conduct Programme clearly specifies the roles, responsibilities, and accountability arrangements in relation to identifying, monitoring, and managing those risks and requires reporting on those risks and any failures to the Company’s Board.
  • Governance: The Company’s Board is responsible for the Company’s Fair Conduct Programme. The Company has clearly defined roles, responsibilities and accountabilities for identifying, monitoring and managing conduct risk.
  • Fair Conduct Programme Review: The Company’s Fair Conduct Programme is regularly reviewed to systemically identify deficiencies in its effectiveness. The Company will ensure any deficiencies identified are promptly remedied.

This description is designed to assist consumers make informed decisions about their dealings and interactions with the Company in relation to the Company’s consumer insurance services.

Complaint Process

Consumers can make a complaint about Autosure’s insurance related services and consumer insurance contracts by following the complaints process at www.autosure.co.nz or by contacting us at complaints@autosure.co.nz and describing your complaint and leaving your name and address.

The Company’s goal is to turn dissatisfied customers into satisfied customers through speedy, transparent and effective implementation of our complaint’s response procedures.

If we are unable to resolve your complaint within 2 months we will issue you with a Letter of Deadlock which will enable you to take your complaint to our External Dispute Resolution Scheme Provider.

Autosure Insurance Limited is a participant of the Insurance and Financial Services Ombudsman Scheme (IFSO). The IFSO Scheme resolves complaints about insurance and financial services. This is an independent scheme that is free of charge to you.

You can contact the Insurance & Financial Services Ombudsman by phoning 0800 888 202 or (04) 499 7612, by writing to PO Box 10-845, Wellington 6143 or email info@ifso.nz.