Who do we act for when providing services?
We may act:
On your behalf; or
On behalf of the Insurer (i.e., the Product Issuer or their Agent), including under a binding authority.

Generally, 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 arrangements, which means we enter into the contract on the Insurer'(s) behalf.

Where we are acting under a binding authority we will advise you.

Some of the factors taken into account in calculating your premium are:

• The location of the risk
• The sum insured
• Your type of business and/or profession
• Your prior claims experience
• The cover options that you have chosen

The premium amount will be shown on Your Policy Schedule. Government and Statutory changes such as Stamp Duty, FSL and GST will be shown separately on the Policy Schedule.
You may be entitled to claim a tax deduction for the premium paid under this policy. Please check with Your tax accountant or the Australian Taxation Office for further information.

What remuneration / other benefits do we receive for our Financial Services?
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 5-25%. 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 the 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 retain the commission from the premium you pay us and remit the balance to the insurer. We also receive commission on each renewal and some variations of your policy. Generally we may also charge you an Administration Fee when we finalise your cover, which will appear separately on your Tax Invoice.

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.

If we both agree, we can charge you a Broker Fee rather than commission for the placement of the policy/s. We will not charge you a Broker Fee (other than the above Administration Fee) in addition to any commission for arranging a policy, unless we tell you and you agree.

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.

Professional indemnity insurance 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 if the relevant conduct).

Do we have any relationships or associations which might influence the provision of our Financial Service?
We have binder agreements with a number of insurers including Lloyd's of London.

Where we act as an insurance broker in arranging your insurance we will advise you if the business is to be placed under these binding agreements.

How is my personal information dealt with?
At JUA Underwriting Agency, the privacy of your personal information is important to us. We collect your personal information to ensure that we are able to provide you with the products and services most appropriate to your needs.

JUA Underwriting Agency 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 or speak to your representative.

The General Insurance Code of Practice
JUA have adopted the General Insurance Code of Practice (“The Code”) which was introduced in 2006. The code sets out the minimum standards that JUA will uphold in the services we provide our customers as well as the procedures to follow for the fair handling of complaints from our customers.

JUA is signatory to the Code through Lloyds Australia Limited.

ICA General Insurance Code of Practice

If you have any complaints – Non Lloyds Security
We have our own internal dispute resolution procedures in place. If you are dissatisfied with anything we have told you or done for you, we want you to tell us. You will need to provide us with comprehensive details so as to enable us to investigate your complaint further. All information will be treated with the strictest confidence.

Step 1: Contact your JUA Representative in writing, by telephone, or email.

Step 2: If you are not satisfied with our response, please contact the JUA Compliance & Risk Manager in writing, by telephone, or email:

Phone: (02) 8272 4809
Email: mmedved@jua.com.au

Our Compliance & Risk Manager will respond within 5 working days of receiving your email, call or letter provided that they have received all the necessary information and have completed any investigation necessary. Where further information, assessment or investigation is required, The Compliance & Risk Manager will agree a reasonable time frame for responding and will keep you informed of the process.

Step 3: If you are not satisfied with the response of our Compliance & Risk Manager, you can appeal to the Financial Ombudsman Service. The Financial Ombudsman Service (FOS) is an independent industry dispute resolution scheme.

You can contact the Financial Ombudsman Service at
               
                Mail: GPO Box 3
                         Melbourne VIC 3001
                Ph: 1300 780 808
                Fax: (03) 9613 6399
                Email: info@fos.org.au
                Website: www.fos.org.au

If you have any complaints – Lloyds Security
Please refer to the “Lloyds – What to do if you have a complaint” leaflet.