VeriSure’s terms of engagement are as follows :

1. We will invoice you for the premium, statutory charges (i.e.: GST, stamp duty, fire services levy, etc) and any fees we charge for arranging your insurances. You must pay us within 14 days of the date of the invoice or, in the case of a renewal, before the expiry date of the contract of insurance. If you do not pay the premium on time, the insurer may cancel the contract of insurance and you will not be insured. The insurer may also charge a short term penalty premium for the time on risk.

2. Proposal Forms, Claim Forms, and other Underwriter required forms must be completed and return to our office within fourteen (14) days of receipt. 

3. Premium Funding Forms must be returned to our office within seven (7) days of receipt. Any delay in having your Funding Company settle the Underwriters Account within thirty (30) days from inception of the Insurance may result in loss of cover and no claims will be paid. Your Funding Company may require up to fifteen (15) to twenty (20) days to process the application upon receipt of your deposit. Prompt action is essential. No payments are to be made to VeriSure in respect of any Premium Finding Contracts. Any undue delay may cause your Insurance to cancel.

4. From time to time and, if applicable, VeriSure may recommend the use of outside Service Providers to enhance your presentation to Underwriters. If you agree to utilise these services then you will be dealing with those Companies directly. Unless otherwise agreed in writing with the Service Provider you agree to make payment for their services within the period prescribed.

5. VeriSure provide Standard and Non Standard Services and are Remunerated by way of Commission and Fees as set out herein. Standard and Non Standard Services provided by VeriSure and highlighted in the Apendix A.1 and A.2 herein. 

6. During the course of this Engagement VeriSure may need to utilise the services of Lloyd’s of London, Underwriting Agencies and/or other Placement Facilities thereby necessitating additional work by VeriSure to secure the best possible outcomes. In cases where these services are used to your advantage VeriSure will levy an appropriate Fee based upon our hourly rate of $500 and will be in addition to any Commission provided by these facilities. You MUST notify us in writing if you do not wish us to undertake this work on your behalf. Our total Commission and Fees will be detailed in our Remuneration. Please refer to our Financial Services Guide and Statement of Advice (SoA).

7. During the course of this Engagement you may require Additional Services that VeriSure provide. These Services are summarized in Appendix A.2 or you can visit www.verisure.com.au. Should you wish to avail yourself of these services VeriSure will provide a short assessment of the work involved and provide you a written quotation for such additional work. This quote will be valid for a period of fourteen (14) days unless otherwise agreed in writing. Should you wish to accept our quotation a deposit of 25% of the total amount due will be payable prior to the commencement of any work.

8. It is your responsibility to provide renewal instructions prior to 4pm on the date of expiry of the insurance contract. These instructions can be made by post, phone, fax or email. If these have been issued verbally then the issue of our Cover Confirmation is your confirmation that Renewal Instructions were issued by you and/or your representative.

9. VeriSure believe it is important to maintain continuity of cover on your behalf and is in your best interests to protect the Assets and Liabilities covered. Where VeriSure has not received your instructions in writing prior to 4pm on the date of expiry we will automatically arrange for your current covers to continue under the same Terms and Conditions unless you advise us otherwise in writing PRIOR to renewal. If you do not require the cover, you MUST tell us as soon as possible. If you do not wish us to undertake any services for the renewal of your Insurances you MUST tell us thirty (30) days prior to renewal. This particularly applies where you elect to gain alternative quotations from other service providers prior to renewal acceptance. Underwriters may apply a short term premium should the policy be renewed and you will be liable for this premium. In addition, costs incurred by us in the negotiation and service provided for renewal will be charged out on an hourly basis as detailed above and you will be liable for our costs.

Unless you confirm to VeriSure in writing that you do not wish us to undertake this work you agree any work undertaken by us to protect your interests is warranted.

10. VeriSure Insurance Brokers Pty Ltd are members of the Australian Financial Complaints Authority (AFCA) and adopt as a minimum requirement the General Insurance Code of Practice for the protection of all Clients. In addition, VeriSure have adopted their own internal Code of Practice guidelines for your added protection. Copies are available upon written request to the Compliance Manager.

11. VeriSure’s Privacy Policy may be viewed in full on our web site. Please refer to www.verisure.com.au 


This notice is issued in compliance with ASIC requirements under the Australian Financial Service Act and is our record of the Important Information; Terms of Engagement (ToE) and Financial Services (FSG) that we have already provided to you. 

We look forward to working with you and trust our relationship will be long and mutually rewarding.  We encourage you to contact us at any time if you have any questions about our services or your Insurance Program.

Unless you tell us otherwise in writing, you confirm that you agree with these terms.

A.1. Standard Service include but are not limited to :

The standard services provided by VeriSure and covered by this Engagement Contract are as follows :

a. Review your insurance needs with you

b. Advise and make recommendations as to your insurance requirements

c. Meet with you to discuss our recommendations

d. Prepare underwriting submissions

e. Negotiate terms with any existing insurers and with alternative insurers.

f. Place the insurances agreed upon

g. Confirm placement and renewal of the insurances to you (and any other interested party)

h. Calculate, invoice and collect the premiums

i. Prepare policy wordings and obtain signed policies from insurers

j. Adjust premiums on prior year policies

k. Regularly monitor your insurance program

In addition VeriSure provide service and advice in respect of Claims Management which is provided in conjunction with the services outlined above. 

Our Claims Service includes but is not limited to :

i. Recording notification of claims and advise to insurers

ii. Advising details of the claims documentation required from you

iii. Informing you of the appointment of any Consultant, Loss Assessor, Loss Adjuster, Risk Surveyor or other Parties appointed by the insurer

iv. Assisting you in negotiating settlement with the Loss Adjuster and the Insurer

v. Negotiating claim payments from the Insurer direct to you.

vi. Assisting you in recovering from Third Parties.

A.2. Additional Services :

VeriSure have experienced, compliant and highly qualified staff to assist you in managing your Insurance Program. Additional Services provided by VeriSure include :

a. Risk Management (Including or Excluding the SafeGuard Program)

b. Advice and Consultancy (Including or Excluding Second Opinions)

c. Workers’ Compensation Claims Management

d. Occupational Health and Safety

e. Property Loss Control

f. Business Interruption (Profit Maintenance) Reviews and Under-Insurance

g. Liability Risk Management 

h. Liability Risk Evaluation and Control

i. Environmental Risk Management

j. Security Program

k. Evaluation of Contractual Agreements.

l. Disaster and Crisis Planning

m. Interstate Site Visits

n. Premium Funding

In the event that any of the above services are required, a separate Professional Fee as outlined herein would be negotiated in accordance with the type and level of services required and based upon our standard Fees and practice.

In addition, you can visit www.verisure.com.au for supplementary information.