Legal

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Our Disclosure Statement

Paramount Insurance (FSP22802) holds a licence issued by the Financial Markets Authority to provide financial advice on Insurance Products for both Commercial and Domestic clients.

Our advice to you is based on your requirements and the information you have provided to us. Our advice must meet the legal duties imposed by the Financial Markets Conduct Act and the associated Code of Conduct. Our advice is not influenced by the commission or other incentives that may be offered by the insurance companies.

We regularly review our compliance in the insurance industry and check for any potential conflicts of interest. Currently there are no known conflicts of interest.

Paramount Insurance will only quote on insurance products from providers with a Financial Strength rating of at least ‘A-’. Our quotations and invoices will declare the current rating of the relevant provider(s).

Paramount Insurance Agencies Limited have not been publicly disciplined or had any convictions, recent bankruptcies or insolvencies.

Paramount Insurance will receive commissions from the respective insurance providers if you purchase policies through us.

We charge 4% of the policy charge as an administration fee for our support service. The total amount of commission and fee will also be noted on your invoice.

Insurance Premiums collected by us are held in a business Trust account with Kiwibank until such time as those premiums are due for payment to the Insurance Underwriters or their Underwriter Agencies. We may obtain a small amount of standard Kiwibank interest from the Trust account but we do not invest your premiums.

We do not charge any fees for providing a quotation, nor do we charge a cancellation fee when a policy is no longer required. If a partial refund of premium is paid out by the relevant Insurance Company we must pass that on to you.

If you are unhappy with our advice or any aspect of our service please inform us, so we can help resolve any issues. Paramount Insurance also belongs to an external dispute resolution scheme through the Insurance and Financial Services Ombudsman. If our Brokers cannot resolve your problem, the Ombudsman will assist you. A copy of our Complaints Procedure can be found on our website – or you can request a written document to be emailed or posted to you.

Brokers’ Statements

Ian Atkinson

Martin Hunt

Tracy Robinson

Complaints Procedure

Do you have a complaint or problem?

We aim to provide you with the highest quality service and support. But if you do have a complaint or encounter a problem, please let us know as soon as you can. Our complaints process outlined below aims to address your concerns.

Step 1 – Let’s sort it out

Discuss your complaint with the person you’ve been dealing with and try to resolve it.

Call us on 09 360 3292 or email info@paramountinsurance.co.nz

Step 2 – Review

If your complaint is not resolved by Step 1 you can call, email or arrange to see your advisor or request a Complaints Form, which allows you to detail your concerns.

Step 3 – We are a Participant of the Insurance & Financial Services Ombudsman Scheme Inc. (“IFSO Scheme”).

If your complaint has not been resolved after going through our complaints process you can refer your complaint to the Insurance & Savings Ombudsman Scheme Inc. This is a free, independent dispute resolution scheme.

See https://www.ifso.nz or call 0800 888 202 for information on the IFSO Scheme.