Financial Services Guide

1. This document is the Financial Services Guide (FSG) for Transcorp Underwriting Agency Pty Ltd ABN 30 094 737 970 required by section 941A or 941B to be given in accordance with Division 2 of Part 7.7.
2. The purpose of this guide is to inform you of our relationship prior to providing you with a financial service, the charges or remuneration that may be paid to the financial services licensee for the services offered and information on how complaints against the licensee might be dealt with.
3. This information is provided to assist you in determining whether to use the services outlined in this guide.
4. In addition to this guide you are entitled to receive either or both of a Statement of Advice and Product Disclosure Statement (if applicable).
5. It is not our normal practice to advise on financial products, however if we were to recommend that you acquire a financial product, we may also provide you with a Product Disclosure Statement (PDS) containing information about that product.  This will enable you to make an informed decision about the acquisition of that product.
6. Providing Entity
The entity providing the advice is:
     Transcorp Underwriting Agency Pty Ltd
     Licence Number: 247121
     Address: Level 8, 217 George Street, Brisbane QLD 4000
     PO Box 12203, George St, Brisbane QLD 4003
     Telephone: (07) 3503 3100
     Facsimile:   (07) 3503 3101
     E Mail: enquiries@transcorp.net.au
 We are a licensed underwriting agency able to provide you with advice in relation to General Insurance Products.
7. Currency
This FSG applies from 1 August 2006 and remains valid unless a further FSG is issued to replace it.
8. Receiving Instructions
We are able to receive your instructions by telephone, fax, email, letter and in person.
9. Our role when providing services
We act on behalf of the Insurer (i.e. the Product Issuer of their Agent), including under a binder.  In most cases, as an underwriting agency we provide our financial services to insurance brokers.  In this case we act as agent of the insurer and have authority to effect an insurance policy under binder agreements which means when we arrange insurance or deal with claims we will be acting as the agent of the Insurer, not your agent.
10. Compensation Arrangements
We and our representatives are covered under professional indemnity insurance that complies with the requirements of section 912B of the Corporations Act. The insurance (subject to its terms and conditions) will continue to cover claims in relation to our representatives/employees who no longer work for us (but who did at the time of the relevant conduct).
11. Remuneration
Generally we are paid a commission by the insurer for arranging the policy which is based on a percentage of the premium less stamp duty, fire services levy, GST and any other government charges, taxes, fees or levies. The rate depends on the policy and may range from 10% to 30%. The commission is included in the premium charged and covers various expenses we incur in arranging the insurance as well as a profit component.
Where business is introduced to us by an insurance broker we will pay to them a share of our commission or fees, or pay them a referral fee. 
We may also receive a profit share commission from insurers in the future if a particular portfolio of business reaches a certain level of profitability.  
We receive standard bank interest on our trust account funds from monies collected from you and remitted to Insurers. Any interest shall be entirely to the benefit of Transcorp Underwriting Agency Pty Ltd.
Our staff receive an annual salary that can include a bonus based on business performance criteria.
In the event of a refund for the cancellation or adjustment of a policy, we reserve the right to retain our remuneration.      
12. Complaints Handling
We are current members of:
     Financial Ombudsman Service (FOS)
     Address: Level 13, 31 Queen Street, Melbourne Vic 3000
     Telephone Toll Free 1300 78 08 08
     Facsimile:   (03) 9613 6399
     E Mail: info@fos.org.au
     Website: www.fos.org.au
We have in place an internal dispute process. If you have a complaint you should contact our office to explain the complaint. We will attempt to satisfy your complaint within 5 days.
Our Complaints Officer is Mr Michael Byrne. If we are unable to satisfy your complaint within the time you may wish to take your complaint to FOS. Their contact number is 1300 78 08 08.
13. Privacy Policy
At Transcorp Underwriting Agency Pty Ltd, the privacy of your personal information is important to us. We collect personal information to ensure that we are able to provide you with the products and services most appropriate to your needs.    Transcorp Underwriting Agency Pty Ltd has adopted the principles set out in the Privacy Act as part of our continuing commitment to client service and maintenance of client confidentiality. For further details, please refer to our Privacy Policy.