Howden Disclosure Statement
Download the Howden Disclosure Statement here
This disclosure statement relates to the following related companies, all of which are part of Howden Group Holdings Limited (UK): -
- Howden Broking Limited;
- Howden Commercial and Affinity Limited; and
- Wallace McLean Limited.
collectively referred to in this statement as “Howden”.
Licensing Information
Howden Commercial and Affinity Limited (FSP 33521), Howden Broking Limited (FSP 1001677) and Wallace McLean Limited (FSP 39628) are all Financial Advice Providers (FAP) licensed and regulated by the Financial Markets Authority to provide financial advice.
Insurance Underwriters (NZ) Limited (IUNZ) (FSP 442446) and Prosper Insurance Limited (FSP728971), also related companies of Howden, are authorised bodies acting under the full licence of Howden Commercial and Affinity Limited.
Nature and scope of advice
Howden and our financial advisers provide financial advice relating to contracts of insurance, whether it is commercial and domestic insurance products, or life insurance products.
Howden is not an insurer. Howden provides financial advice in relation to insurance products that are provided by insurers.
Click here to see the list of insurers we use.
Depending on the advice you require, we may approach other insurers, however we will advise you if this occurs.
We will usually act on your behalf and in your interests in all matters, however, where we have negotiated facilities such as binding or agency agreements, we may act as an agent of the insurer and not for you. We will tell you when we act under a binder or agency to arrange your insurance, advise you about your insurance needs or manage claims on behalf of the insurer.
Our related company, IUNZ, operates separately from Howden as an underwriting agency for insurer clients. We have conflicts of interest policy and processes to ensure that the services provided by IUNZ are separate and distinct from the insurance services Howden provides to you.
Fees or expenses
Howden may be paid:
- Fees only
- Commission only, or
- Both fees and commission
Conflicts of interest and commissions
Howden may receive a commission from the insurers through which we place business. The commission is paid to us by the Insurer (product provider) based on each insurance policy that you purchase. The commission only applies to the company premium and natural disaster premium portion of the total premium and excludes any fire and emergency levies, EQ levies or other government charges. We will provide more specific details of these commissions once we have talked to you and understand your needs.
To ensure that we and our advisers prioritise your interests above our own, we follow an advice process that ensures recommendations are made based on your individual requirements, goals, and circumstances. We have a conflicts of interest policy and procedure, including training and monitoring, to ensure we are aware of and manage any conflicts of interest. The company, staff and our advisers must comply with this policy and procedure. Where relevant, we will only provide advice in circumstances where we are able to appropriately manage a conflict of interest.
Howden may also receive a commission and/or pay a commission to referral partners who refer clients to Howden (or vice versa).
Howden may offer to arrange premium funding to assist you to spread the cost of your insurance premiums. When Howden assists to arrange premium funding, we act as agent for the premium funder in facilitating and administrating the premium funding arrangement. We do not act as your credit provider or finance broker and do not provide any advice to this effect. Howden may receive a commission for these services provided to the premium funder.
Complaints handling and dispute resolution
If you are not satisfied with our service or financial advice, please tell us as soon as possible. Initially, please raise your concern with the adviser concerned and if it is not satisfactorily resolved, then email: [email protected]
When we receive a complaint:
- We will consider your complaint and let you know how we intend to resolve it. Where possible, we try to resolve your complaint immediately.
- If we are unable to resolve your complaint immediately, we will acknowledge your complaint within 2 business days. We may contact you to get further information about your complaint.
- We aim to resolve complaints within 10 working days of receiving them. If we need more time to investigate your complaint, we will let you know when you can expect to receive a response to your complaint.
- We will contact you by phone, email or letter to let you know whether we can resolve your complaint and how we propose to do so.
If we cannot agree on how to fix the issue, or if you decide not to use our internal complaints process, you can contact our external disputes resolution scheme, all of whom provide a free and independent dispute resolution service that may help you resolve your complaint if we haven’t been able to do so to your satisfaction.
For Howden Broking Limited, contact: -
Insurance & Financial Services Ombudsman Scheme Inc. (IFSO)
Contact IFSO:
Website: https://www.ifso.nz/
Call: 0800 888 202
Email: [email protected]
Write to: PO Box 10-845, Wellington 6143
For Howden Commercial and Affinity Limited and Wallace McLean Limited, contact: -
Financial Services Complaints Ltd (FSCL)
Contact FSCL:
Website: https://fscl.org.nz/
Call: 0800 347 257
Email: [email protected]
Write to: PO Box 5697, Wellington 6140
Duties
Howden and our advisers have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.
We are required to:
- give priority to your interests;
- exercise care, diligence, and skill;
- meet standards of competence, knowledge and skill set by the Code of Professional Conduct for Financial Advice Services;
- meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services.
Contact details
Call: 0800 500 510
Email: [email protected]
Write to: PO Box 784 Shortland Street, Auckland 1140
A written copy of this information is available upon request.