Frequently Asked Questions
Why use an Risk Advisor?
As professional Risk Advisors, VeriSure represent your interests at all times, providing professional guidance in a Market which is constantly changing.
VeriSure's team of Qualified Risk Advisors are highly trained to advise on the best Insurance solutions for your Organisation.
What's the difference between a Risk Advisor, Broker and AR?
A Risk Advisor has a duty of care to you and must act solely in your best interests.
Risk Advisors attempt to source the best most appropriate policy to satisfy your Risk.
If the Market can’t oblige Risk Advisors design and negotiate Policies suitable to specific needs and risk analysis.
Insurance Brokers negotiate within the Market as dictated by their specific operating guidelines and Ownership. Most operate on the General Advice Model and legally must provide the appropriate Warning Clause.
AR’s or Authorised Representatives essentially are Agents for Financial Service Licensees and only ensure you receive the most appropriate policy from the specific Company they represent.
A number of Brokers and AR’s are Members of what the Industry terms Cluster Groups.
It is very important to fully investigate these entities including their guidelines on Conflicts of Interest which can be found in their (FSG) Financial Services Guide.
How can I be sure my Risk Advisor is qualified?
All of VeriSure's Senior Risk Advisors are Certified Insurance Professionals (CIP’s) and Qualified Academic Members of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF).
It is compulsory for all VeriSure’s Risk Advisors to meet educational standards and become Qualified Academic Members of ANZIIF.
ANZIIF is the premier educational body for the Insurance Industry and their Education Programs are recognised World Wide.
ANZIIF have a long list of Qualified International Members which bear testament to the standard of their educational programs. (www.theinstitute.com.au)
Becoming a Qualified Member means individuals meet strict academic and educational requirements.
To maintain CIP status bestowed by ANZIIF all Qualified Members must attain additional educational requirements each and every year.
How do I know VeriSure will act fairly on my behalf?
VeriSure’s Business Principles are founded on Trust and Integrity.
We can only achieve long term business relationships by putting the Client’s interests first and foremost which assists to maintain the high performance and Client Satisfaction standards we set.
VeriSure also embrace the General Insurance Brokers Code of Practice which promotes good relationships between Risk Advisors, the organisations they represent, insurers and others involved in the insurance industry.
In addition VeriSure have developed their own Code of Practice which is strictly adhered to by every staff member.
How can I be sure an insurance company is financially sound?
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.
There are minimum Capital Adequacy levels for APRA Authorised Insurers. For more information see www.apra.gov.au.
What is a Financial Services Guide (FSG)?
- 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
VeriSure’s Financial Services Guide (FSG) is readily available within this Information Section.