Nick Meister

This disclosure statement is provided under the Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendment Regulations 2020. It tells you who your adviser is, what they advise on, how Better Insurance is paid, how we manage conflicts of interest, and what to do if something goes wrong. You can ask for it in writing at any time.

M&C Risk Partners Limited (FSP1012730), trading as Better Insurance, holds a Class 2 financial advice provider licence issued by the Financial Markets Authority. We give regulated financial advice about general insurance only, personal and commercial. The product lines your adviser advises on are listed below.

Our advice is based on the information you give us. If that information is incomplete or not accurate, there is a risk your cover may not respond the way you expect, so tell us anything that could be relevant. Insurance policies also contain exclusions, conditions, and limits; always read your policy documents carefully.

We do not give advice on life or health insurance, lending, or investments. If you need help with those, we may refer you to a provider who can.

We are not tied to any single insurer. We advise on insurance products from the insurers and underwriting agencies we can access through direct agencies, broker networks, and approved market arrangements. Where we currently work with a single insurer for a type of cover, your adviser will tell you before giving advice. We may not be able to access certain insurers, for instance - direct insurers who do not work with brokers.

Better Insurance is a member of Steadfast Group. Through that membership, we can access insurer arrangements, underwriting agencies and services available to members. These arrangements may include negotiated policy terms or enhancements. We assess the options available to us against the scope agreed with you. We will tell you about any material relationship, market limitation or other factor relevant to our recommendation.

We work alongside Better Finance (One Partner Limited), which refers clients to us and provides some shared business services. Better Finance is a separate business and is not our financial advice provider. Insurance through Better Insurance is never a condition of finance from Better Finance, and Better Finance does not currently receive any payment or other benefit for referring you to us.

When we give you regulated financial advice, we and your adviser have duties under the Financial Markets Conduct Act 2013. We must give priority to your interests, taking all reasonable steps to make sure the advice is not materially influenced by our own interests; exercise care, diligence, and skill; meet the standards of competence, knowledge, and skill in the Code of Professional Conduct for Financial Advice Services; and meet that Code’s standards of ethical behaviour, conduct, and client care. More information is available from us on request or from the Financial Markets Authority.

Where we arrange cover for you, the insurer pays us a commission, calculated as a percentage of your premium excluding government levies and GST. The rate varies by insurer and type of cover; your adviser will tell you the commission that applies before you proceed. We may also charge a fee for arranging or servicing your cover, which we will set out in writing before you incur it. From time to time we may receive other benefits, such as training or minor non-monetary benefits from insurers, or services through our broker network. If you pay by instalments through a premium funder, the funder pays us a commission on the amount funded, and we will explain those costs in writing before you enter the arrangement.

Your adviser is paid by Better Insurance. However your adviser is paid, their legal duty is the same: to give priority to your interests when giving advice.

Commission is paid to us by the insurer and is generally funded from the premium you pay. It is not an extra charge added on top of your premium, but it forms part of the cost of your policy. You can ask your adviser at any time how we are paid for your insurance.

To manage conflicts of interest, we follow an advice process that puts your needs, risks, and objectives first. We keep registers of conflicts, gifts, and incentives, and review them quarterly. We avoid volume or quota commitments that would tie us to any single insurer, and conflicts involving a director are assessed independently rather than by the director concerned. Our advisers complete regular training on the Code and their duties. We do not recommend a product because it pays us more.

We are required to tell you about certain reliability events, such as bankruptcy, certain convictions, or disciplinary action by a court, the Financial Markets Authority, or a professional body, that could materially influence your decision to rely on our advice. Your adviser’s position is set out below.

Please contact Better Insurance first so we can investigate and try to resolve your complaint. You can raise it with your adviser directly, or email complaints@betterinsurance.co.nz. We will let you know who is handling your complaint, keep you updated, and aim to resolve it within 10 working days. If it takes longer, we will tell you why and what happens next.

If we cannot resolve your complaint, you can take it to Financial Services Complaints Limited, our independent dispute resolution scheme. The service is free. Our membership number is 9697.

You can contact FSCL on 0800 347 257, by email at complaints@fscl.org.nz, or by post to PO Box 5967, Wellington 6140. Their website is fscl.org.nz.

We collect, hold, and use your personal information to give advice, arrange cover, and help with claims, in line with the Privacy Act 2020. Our Privacy Policy explains what we collect and why, who we share it with, how long we keep it, and how to see or correct it. If you were referred to us by Better Finance, some of your information may reach us that way; the Privacy Policy explains how that works.

This disclosure is available on our website at any time, and you can download it as a PDF or ask your adviser for a copy in writing, free of charge. Disclosures are updated from time to time; the web page always shows the current version.