Yes, most definitely!

A change of circumstances may mean the insurance you have in place is no longer current. It may be that your circumstances change in a way that means your risk is reduced and you’re paying too much, or that your risk is increased and you’re exposed to uninsured losses. Either way, advising your broker of your changes will allow them to review your insurances and ensure your policies remain relevant. It’s advisable to review your insurance regularly – at the very least annually – because changes may have taken place that alter your risk profile, and the policies available to cover your risks may also have changed.

At Webber Insurance we embrace the General Insurance Brokers Code of Practice which is intended to promote good relationships between insurance brokers, the people they insure, insurers and others involved in the insurance industry.

The Code is part of a self-regulatory scheme that sets out the responsibilities of participating insurance brokers and requires them to establish an internal process for resolving disputes with policy holders. Complaints and disputes against brokers in relation to the Code are handled by Insurance Brokers Disputes Ltd, whose members represent consumers, the Government and insurance brokers.

Details of our Disputes & Complaints processes can be found in our Financial Services Guide with further information here.

There are also a considerable number of laws that apply to our business, in particular the Corporations Act. As a financial services licensee we are responsible for the conduct of our employees as well as our Authorised Representatives.

At Webber Insurance, we embrace the General Insurance Brokers Code of Practice which is intended to promote good relationships between insurance brokers, the people they insure, insurers and others involved in the insurance industry.

Most insurance companies operating in Australia are financially sound and the regulatory body, the Australian Prudential Regulatory Authority (APRA), maintains strict controls to ensure this continues. APRA oversees the activities of insurance companies, banks, credit societies, superannuation companies and others in the financial arena.

As a condition of our Australian Financial Services License (AFSL) under Webber Insurance Group, we are required to review each insurer and underwriting partner on a regular basis to ensure that only the financially sound partners are used.

There are minimum Capital Adequacy levels for APRA Authorised Insurers. For more information, please visit www.apra.gov.au.

A Financial Services Guide (FSG) must be given to a potential client by a licensee (or an Authorised Representative) as soon as practicable. It sets out information in regard to how we do business such as:

• Documenting the standard basis on which we act for the client.
• Providing all statutory notices and other information required by law (e.g. how we get paid).
• Explaining how we will handle a client’s business

Webber Insurance Services Financial Services Guide is readily available by contacting our office or by clicking here.