Terms of Trade
Thank you for allowing the Cartwrights the opportunity to go through your current Insurance with you. Cartwrights has been providing financial services to the Canterbury District for over 30 years.The Company has grown into one of the leading locally owned and operated Brokerages in Ashburton with business connections throughout New Zealand. We have grown into a leading broker organisation in the Financial Services Sector.
Cartwrights specialises in General Insurance, Commercial, Farming and Domestic, Risk Management, Life and Health Insurance and Mortgage Brokering. Cartwright’s are committed member of IBANZ, Insurance Brokers Association of New Zealand and PAA Incorporation.
Cartwrights are very proud of their business reputation and are part of the Steadfast Group.
You have appointed The Cartwright Group Ltd, PO Box 28, Ashburton as your Insurance Broker.We will provide our services in accordance with these terms of business.
The terms apply until they are changed in agreement between yourself and The Cartwright Group in writing or until our appointment is cancelled. We may vary the services we offer you from to time without prior notice.
We are members of The Insurance Brokers Association of New Zealand Inc. (IBANZ). We follow the IBANZ Code of Practice and are a registered financial service provider. You can find us onwww.fspr.govt.nz. Our registration number for The Cartwright Group is FSP39001.
We offer the following services:
· We can review your risk exposure and insurance needs.
· We can offer you advice about insurance products.
· We can arrange, amend and renew insurance contracts (policies) on your behalf.
· We can arrange monthly finance for your premiums if required (please note this is direct from The Cartwright Group)
· We will assist you with insurance claims.
There are additional services we can offer upon request and this may incur a fee depending on the task.
As your insurance broker we normally act as your representative regarding arranging insurance on your behalf. We will make recommendations to you regarding insurers based on your requirements however the final choice of insurer will remain with you.
When we recommend Insurers, our choice of Insurers is not based solely on the competitiveness of terms offered. Preference is given to those who, based on previous experience and information available to us, have been able to meet the standards of service and expertise we demand in meeting our client’s insurance needs.
Our preferences are based on a wide variety of factors including financial security, level of expertise, claims service, attitudes in claims handling, underwriting flexibility and the weight of our commercial relationship in resolving contentious issues.
Whilst all reasonable precautions are taken to ensure that only Insurers of adequate financial standing are used, we cannot give any guarantees on the financial performance of Insurers.
We may at times provide assistance with placing and servicing overseas insurance, or the management of overseas risk. A third party consultant may assist us with the provision of such services which we will notify you of.
We will negotiate with insurers on your behalf and will you keep you informed of any significant changes. We do our best to ensure the policies and endorsements we place on your behalf are issued by your insurers promptly and correctly. These documents are important and we recommend you keep them safe and ask that you do not share them with other Brokers
Upon receipt of your premium we will arrange for their timely disbursement to the relevant insurers and authorities.
Whilst we endeavour to provide you with correct information, we are not responsible for the accuracy or reliability of information we receive from insurers/underwriters (which we then forward to you)
We are not representatives or offer warranty concerning the solvency or ability of any insurer to pay claims.
If your insurances were arranged by another broker prior to our appointment:
· We will not be responsible for any payments made in relation to those insurances prior to our appointment (including claims and premiums)
· We will review the policies within 60 days of our appointment and receipt of the documentation and discuss with you any relevant issues we have identified with the policies.
· We will not be responsible for inaccurate insurance policies for your needs prior to review.
We will enter into a binder agreement with an insurer occasionally to arrange insurance policies on your behalf.
We receive brokerage from insurers in accordance with normal market practice on any insurance we arrange for you which are included in your premiums.
When we arrange the placing or servicing of insurance overseas, our overseas representative may also receive remuneration from insurers.
We may charge a fee that is outside our normal form of payment (brokerage from insurers). This fee maybe calculated on various factors e.g. time incurred on your behalf, claims management, specialised knowledge and skills, urgency in which the matter is undertaken and any time constraints involved and responsibility required to perform the service.
We may earn investment income from handling your premiums.
If we arrange premium funding for you we may charge you an administration fee for the setup of your funding.
We reserve the right to set off any outstanding sums that you owe us in connection to any contract of insurance, from any money we receive on your behalf in relation to that insurance.
DUTY OF DISCLOSURE AND YOUR RESPONSIBILITIES
We draw your attention to the following information. Please read and direct any queries you may have to us immediately. In the absence of any response from you we will assume that you have read and understood the information.
DUTY OF DISCLOSURE
Before you enter in to any contract of general insurance with an Insurer you have a duty to disclose to the Insurer all information and every matter (including convictions) that you know or could reasonably be expected to know is relevant to the Insurer’s decision whether to accept the risk of the insurance and, if so, on what terms and conditions and at what cost.
You have the same duty to disclose those matters to the Insurer before you renew, extend, vary or reinstate a contract of general insurance.
Your duty however does not require disclosure of matters:
· That diminishes the risk to be undertaken by the Insurer;
· That is of common knowledge;
· That your Insurer knows or, in the ordinary course of his business, ought to know;
· As to which the Insurer waives compliance with your duty of disclosure.
Your duty of disclosure extends to not only answering the questions on the proposal form and/or questionnaire but to all matters that are relevant to the risk. You must notify the Insurer of changes in the risk between the time of your answering the questions on the proposal form and/or questionnaire and the date the contract of Insurance is entered into. If in doubt – disclose.
If you fail to comply with your duty of disclosure the Insurer may be entitled to reduce their liability under the contract in respect of a claim, or may cancel a contract, or have the option of avoiding the contract from its beginning.
CHANGES AND DEVELOPMENTS
You must advise us immediately of any change in circumstances, changes and developments to your business, convictions, or other material facts that may be relevant to your Insurers decision to insure you or which is likely to increase the possibility of a claim arising under your insurance programme.
Failure to do so may result in your claim being declined and/or your insurance cancelled.
Examples of these include
· Any changes in circumstances or business activities undertaken that are outside the scope of the description in your policies.
· Any acquisition of or merger with any other company.
· The purchase, construction or occupancy of new premises.
· Any alteration, vacancy, temporarily unoccupied, extension or demolition of existing premises.
· Any increase in values or business beyond insured limits.
· Any significant or permanent removal of stock or equipment to different locations.
· Any assumption of liability or waiver of recovery rights under the terms of any agreement or contract.
· Any hiring, leasing or borrowing of vehicles, plant or equipment.
· Any acquisitions of vehicles or stock etc.
· Any charter of aircraft or watercraft.
· Any substantial change in processing methods, occupancy or premises or products.
· Any alterations to or disconnection of your fire or burglary protection systems.
· Any proposed installation or modification of present plant, refrigeration plant or key machines.
· Any charge or conviction of any offence involving arson, drugs, malicious damage, theft, dishonesty, injury or any other criminal offence.
· Bankruptcy or insolvency of the business or any business associated with/connected to any director of shareholder or partner.
OBSERVANCE OF TERMS AND CONDITIONS
The observance and fulfilment of the terms, provisions, conditions and endorsements of your policies in so far as they relate to anything to be done or complied with by you, and the correctness of statements and answers in the written submissions or proposal or supporting documents, or in any claim form, or in any statement in support of a claim, whether by you or by others on your behalf, will be conditions precedent to the Insurers liability to make any payment under your policies.
WAIVER OF INSURERS SUBROGATION (RECOVERY) RIGHTS
You must not enter into any agreement without the Insurers written authority whereby any of the recovery rights to which Insurers become entitled after they have settled a claim are prejudiced or removed or limited in any way, otherwise all benefits under the policy are forfeited.
If you propose entering any agreement or contract which will restrict your normal legal rights of recovery against any other party you should advise us immediately so that we may seek your Insurers agreement to extend cover to liabilities arising under your agreement or contract under the policy.
If anyone else has an interest in the subject matter of this insurance and their interest is to be protected they must be referred to and noted in the policy. You must advise us of any such interests so that we may inform your Insurers. If your Insurers are not advised then the other person may not be protected by the policy.
PRIVACY ACT 1993
This Act places restrictions and requirements on the way agencies collect, use, hold and store, disclose and give access to personal information.
A declaration complying with the Privacy Act 1993 will accompany any personal information that is collected for insurance purposes.
PREMIUMS AND INSURANCE DOCUMENTS
After receiving your insurance documents from us, you should check them and advise us promptly of anything that does not meet your requirements. Any errors should be notified to us immediately.
Unless otherwise specifically agreed our standard terms of credit are payment by the 20th of the month following date of invoice.
Premium Financing/Funding Options are available to assist with your cash flow. We will give full information about premium payment options when we provide quotations.
Invoices detail the premium, statutory charges (government levies and GST for all new, renewals and mid-term variations.
If you do not pay the premium on time, we are required to advise the insurer. In that event the insurer may have the right to cancel the insurance in which case you will not be insured. The insurer may also charge a short term premium for the time they have insured the risk.
We have no obligation to fund any premium, taxes or fees on your behalf and we have no responsibility for any loss you may suffer as a result of insurers cancelling the insurance or taking any prejudicial steps as a result of late payment.
DISCLOSURE OF INTEREST
We make every attempt not to have a situation where there is conflict of interest. Should a situation arise where a conflict of interest would be perceived we will declare it as soon as possible and is practicable to do so.
The Cartwright Group is shareholder of Allied Insurance Group Limited (Allied). Allied has arrangements with some insurers under which Allied receives commission for each product arranged by us with those insurers. These payments are used to operate Allied. We may receive a proportion of that commission at the end of each financial year.
Allied and shareholder members have been entered into a binder arrangement with AIG to arrange and issue insurance policy documentation as their agent. AIG subscribes to the Fair Insurance Code and has internal and external dispute resolution procedures. AIG reserves the right to carry out surveys as and when required.
We are not authorised to advise you to the insurance contracts on behalf of AIG or to deal with or settle claims on their behalf.
COMPLAINTS AND DISPUTES
If you are not fully satisfied with our services please contact us in writing, so that we can process your complaint/concern through our internal complaints process and can try to fix the problem for you. You can contact us by sending a letter to
The Manager, PO Box 28, Ashburton, New Zealand
If you do not get a satisfactory outcome that is agreed to by The Cartwright Group you can contact the
Insurance and Saving Ombudsman
Dimension Data House
99 – 105 Custom House Quay
0800 888 202
You may cancel our appointment as Broker at any time; however we will not cancel your contract of insurance without written instruction from a person(s) who is authorised to represent each of the parties who are named as insured in the contract of insurance of the approval of any interested parties noted on the contract.
We cannot cancel a policy without the insurer’s approval. Please note some insurance company contracts contain a non-cancellation clause or cancellation penalties which you will be responsible for paying.
Once you have notified us of cancellation we will cease providing the following services:
· Withdraw from any negotiations in progress including (without limitation) any claims or renewals of policies.
· Return any premiums we have received from you but not yet disbursed
· If requested, deliver to you copies of relevant correspondence we have had with your insurer in the respect of any current claim.
If a contract of insurance is cancelled before expiry date we may refund the net premium we receive from your insurer(s). We will not refund our fees or commission earned when the policy was first arranged.
We will keep all information you provide us about your business confidential and (except where disclosure is required by law or where the information is already in the public domain) we will not disclosure such information to any third party with your consent.
You consent to your information being held in our marketing database for the purposes of the “unsolicited Electronic Messages Act 2007”, you expressly consent to receiving email communication from us with regard to our business or the insurance industry. You may cancel this with consent in writing at any stage.
Any failure by us to enforce any right or obligation under these terms will not in any way limit or waive our right to subsequently enforce such right or obligation.
If any part of these terms becomes invalid or unenforceable for any reason whatsoever, the remaining terms will continue to apply subject to any modifications as is necessary to continue to give them effect.
These terms are governed by the laws of New Zealand and the parties submit to the exclusive jurisdiction of the New Zealand Courts.
We accept no liability for instructions received until we acknowledge receipt and acceptance of the instructions to you in writing.
No cover or action by us shall be deemed to be taken or given until confirmed by us in writing.
We shall be entitled to rely on all written instruction with further enquiry including email instructions.
You must advise us (or your insurers) as soon as is reasonably practicable of an event or circumstances that may give rise to a claim or potential claim. If you do not inform us (or the insurers) of such a claim or potential claim you may prejudice your rights under the insurance contracts. You will be advised if you need to complete a claim form or produce documentation to support your claim.
Material Damage to Insured Property Other Than Motor Vehicles
- Write down on the claims form all the relevant facts including;
§ Date and time of loss
§ What happened
§ Situation of loss
- Make a schedule of the property lost or damaged;
- Where loss or damage is due to burglary, suspected arson or malicious damage, the police must be notified immediately. A copy of the police complaint acknowledgement form can then be returned to our office with a claim form.
- All steps should be taken to secure the property and prevent further loss or damage or danger to life.
- If the loss is not minor, you should ring our office as the insurer may wish to appoint an assessor immediately
- Send the claim form to our office as soon as possible.
In the event of circumstances likely to give rise to a claim under your Liability Policy you should:
- Notify our office immediately
- Send us a claim form advising the following;
- When the occurrence was brought to your attention and how long after the alleged event was this.
- Details of any contractual agreements (such as lease agreements) you may have with the claimant.
- Details of any hold harmless notices you may have displayed on your products on or about your premises
- If a product was involved, steps should be taken to recover the offending item for inspection.
In no circumstances should you do or say anything that could be construed as an admission of liability
Accepting liability “in the heat of the moment” could prejudice you claim settlement and the Insurer’s opportunity to make a successful recovery from a negligent third party.
The Insurers or the courts must decide who is liable.
Motor Vehicle Accidents
At the scene of the accident obtain:
- Name and address of any third party involved
- Name and branch of the third party’s Insurance Company
- Make, model and registration number of the third party’s vehicle, or description of property if no vehicle involved
- Position of vehicle(s) in relation to road at time of impact
- Name and contact number of any witnesses
You must not admit liability at any time as this may prejudice your settlement or recovery of uninsured losses (excess)
You should simply refer the other party to their Insurance Company, or if they are uninsured they can put their claim in writing to your Insurance Company.
1. Complete a Motor Vehicle Claim Form and despatch immediately to our office.
2. Send the vehicle to your panel beaters and ask them to complete a written repair quotation and telephone our office or your Insurance Company. Send a copy of the repair estimate to our office.
3. Even if the costs of repairs to your own vehicle is less than the amount of the excess applying under the Policy, it is necessary to complete a claim form and sent it to our office if there is any damage to another vehicle or other property
4. Any letters or claims or rights holding you responsible for any damage must be passed immediately to our office.