Advice referred to in this statement is provided by Brokers National.

Doug Kerr Insurance Consultants P/L T/as BROKERS NATIONAL ABN [42 649 197 372]

Shop 33 / 1^st Floor Hub Arcade 

Langhorne St. Dandenong 3175

Postal Address: PO. Box 7031 Dandenong 3175

Telephone: 03 9791 6688,   Facsimile: 03 9791 6633

Website: www.brokersnational.com.au

Background of company.

The brokerage commenced trading on the 1^st July 1997, and specialises in both general insurance and life risk products. Brokers National are members of: National Insurance Brokers Association & The Steadfast Group.

We hold a Australian Financial Services License No: 246366

What is the purpose of this statement of advice (SOA)?

This SOA is an important document.  You are entitled to get an SOA whenever we provide you with any personal advice.  Personal advice is advice that takes into account any one or more of your objectives, financial situation or needs.  This SOA is designed to assist you in making an informed decision about whether or not to act on our personal advice about your insurance needs.  For this purpose, this SOA sets out or confirms our advice to you.

If you have not completed a Needs Analysis we are unable to provide you with advice or our advice may be limited.

When you ask us to recommend an insurance policy for you, we will usually only consider the policies offered by the insurers or insurance providers that we deal with regularly.  In giving you advice about the costs and terms of recommended polices we have not compared those policies to other policies available, other than from those insurers we deal with regularly.

Are there any relationships with insurers or other parties that may influence our advice to you?

No, there are no relationships that should influence our advice to you of any relevance.

However, Doug Kerr Insurance Consultants P/L is a shareholder of Steadfast Group Limited. Steadfast has exclusive arrangements with some insurers under which an override commission of up to 1% is received. This is used to operate Steadfast.  Depending on the operating costs of Steadfast and the amount of total premium we place with the participating insurers in any financial year, we may receive a proportion of that commission as a dividend for all products arranged with the participating insurers during that year.

Premium refunds  if policy Is cancelled?

In some instances the insurer and / or underwriting agency may retain their policy fee charged and their commission earned if you cancel your policy mid term. Brokers National will retain the broker fee we charged you for handling the policy / renewal, and we will deduct a further fee for administration in arranging the cancellation for you.

What remuneration (including commission) or other benefits do we or our associates receive in connection with this advice that may influence us?

We receive commission for placing your insurances, which is paid to us by the insurers. In some cases we will also charge you a fee. The words Broker Fee are shown on the invoice sent to you. Our commission from the insurer is calculated as a percentage of the Base Premium. ie. The brokerage is payable on the premium before government charges and fees are added.  Any fees that we charge you will vary according to the type of policy and our associated administration costs. The commission we will receive from the insurer for this policy is advised to you. It ranges from 0% to 22%.

We may pay part of the commission &/or fee earned to others, that refer you to our office for insurance quotations. The amount paid to Authorised Representatives or Referrers/ Spotters is not in addition to the premium payable by you. The amount we pay to Authorised Representatives ranges from 35% to 75% of the brokerage (commission) and fee earned. For Referrers/Spotters ranging from 0% to 35% of earnings.

Our employees that will assist you with your insurance requirements will be paid a market salary, which may include a small percentage of total earnings for the month as a bonus. Steadfast will receive up to 1.0% commission for each policy arranged by us with those insurers. If we arrange monthly premium funding instalments for you, we receive from 0% to 2% commission for organising the contract for you.

How will I pay for the services provided?

You can pay by any of the payment methods set out in the invoice. You are required to pay us before the date shown on the invoice. Remove the remittance slip from the invoice and attach it to your payment. Please note there are no hold covered provisions after 4pm on the date payment due by on our notice to you.

Sample policy wordings from other insurers are available?

Our advice to you is based on our understanding of the policies offered by the insurers that we deal with regularly. We have sample policy wordings available for you if you wish to make your own policy comparisons.  We have not based our recommendation on what might be offered to you by other insurers or insurance providers. However, we have made our recommendations based on the prices and the policy terms of the insurer that we are quoting to you and consider suitable for your insurance needs. The recommended insurer’s claims handling ‘track record’ with ushas also been taken into account.

We recommend you review the  classes of insurance and contact us if we can assist you further?

There is an extensive list of policy classes available that may satisfy your business or personal insurance needs. Please review the list below of insurances that Brokers National are qualified to help you with. We are unable to assist you with any other financial products not mentioned below:

BUSINESS CLASSES OF INSURANCE:

Fire & Perils                   Business Interruption     Burglary                         Public & Products Liability            Plate Glass                    Product Recall                            Money                           Tax Audit                                           Machinery Breakdown     Electronic Equipment                          Professional Indemnity    Directors & Officers                   Fidelity Guarantee          Business Travel                          Motor/ Trucks/ Fleets      Plant & Equipment                      Tools Of Trade                General Property                       Marine Cargo                  Carriers Indemnity                              Goods In Transit             Employment Practices                        Trade Debtors                Contract Works      Construction                  Commercial Strata                              Industrial Special Risks   Farms                                               Livestock                       Crop                                         Pluvius / Rain                 Prize Indemnity                        Special Contingency             

PERSONAL CLASSES OF INSURANCE:

Private Motor                  Home & Contents                              Landlords                       Pleasure Boat                                    Caravan                          Accident & Sickness        Travel                             Motor Cycle                                       Residential Strata           Income Protection                        Term Life                        Trauma / Crisis  

Limited or no advice warning to client if Needs Analysis has not been completed.

If you have not completed a Needs Analysis, and / or you have provided us with limited risk information, we are unable to provide you with personal / business insurance advice, and can therefore assist you only on the limited information you have provided us. We therefore accept limited or no responsibility for the covers we have arranged for you. However, we strongly recommend that you reconsider your position and complete a Needs Analysis, so we can offer you a full statement of advice with our recommendations.

Statement of advice by an authorised representative.

If  the “Executive”  on our invoice  is Vic Couret or Rob Gillies, they are Authorised Representatives of:                   Doug Kerr Insurance Consultants P/L T/as BROKERS NATIONAL ABN [42 649 197 372]. Our representatives hold an Australian Financial Services License and are qualified to offer you advice & answer your queries.                            

Other important information we provide for you.

We have also provided you with: Our “Invoice” which lists amounts payable, a summary of the insurance schedule and sums insured, and other important notices on the reverse side of the invoice; The Insurance Policy standard wording including their Product Disclosure Statement; & Brokers National Financial Services Guide.

How long will this advice be current?

This SOA is issued on the date shown on our correspondence to you and the advice we have given “expires 30 days” from that date.

Any questions?

If you have any questions about the statement of advice or we can assist you further then please contact us.

Please retain this document for your reference and any future dealings with Brokers National.

Type of advice.

Why did we give you this advice?

In providing you with advice or limited or no advice we have considered the following matters.

The information that you have given us on the Needs Analysis (if provided), and the risk information we have gathered from you forms the basis of our advice to you. Please see the warning above if a Needs Analysis was not completed and limited or no advice was provided to you.

“Detailed Advice” based on risk information requested, and the Needs Analysis completed by you. OR 

“Limited Advice” based on the classes of insurance you requested, and on the limited information provided. OR             

“No Advice” because a Needs Analysis was not completed by you.

The advice given to you is based on quotations from the following insurance companies:

INSERT COMPANIES & QUOTES  **************

Below is our advice to you by class of insurance based on the type of advice being offered: 

INSERT ADVICE FOR EACH CLASS OF INSURANCE SELECTED **************

Other advice given to you based on the type of advice offered above:

INSERT OTHER GENERAL ADVICE**************