From 9 July 2025, new legislation—commonly termed “Informed Consent” – comes into effect across Australia under ASIC’s updated requirements. This framework is designed to enhance transparency regarding how we earn commissions when assisting with retail insurance policies.
🔍 What’s Changing (and What’s Not)
- What’s new
For any new retail insurance policies or changes to existing retail insurance policies—including home & contents, motor vehicle, caravan, boat, landlord, personal accident, domestic strata, travel—we are legally required to obtain your explicit informed consent before providing personal advice or arranging any insurance on your behalf. - What’s not changing
The way commissions are calculated and paid stays the same. We’ll continue to receive remuneration from insurers in the usual manner—there’s no increase or change to our standard remuneration rates—but the process now includes your prior approval.
🛡️ Why It Matters to You
These rules are part of broader regulations intended to protect your interests, ensure transparency, and confirm you clearly understand how and why we are compensated.
📞 How We’ll Engage You
You may receive a text message, email, or phone call asking for your informed consent. During that interaction, we’ll clearly explain:
- The insurer’s name (if known)
- The commission rate (typically a % of your premium)
- The frequency and duration of payments (including renewals)
- The services we’ll continue to provide
- A confirmation statement that obtaining this consent is required by law
- That once given, your consent is irrevocable
You’ll also receive a written record—via email or letter—confirming what you consented to. We’ll maintain these records securely for seven years, as required
🔄 If You Make Policy Changes
When you call or email us to modify an existing policy—for example, updating coverages, changing insured properties, or adding vehicles—we’ll ask again for your consent to the commission for that new coverage or change. This ensures ongoing transparency with every material update
⏱️ What We’d Appreciate from You
- Prompt responses: By replying quickly to our communication, we can process your insurance needs without delay.
- Cooperation with consent requests: Your approval ensures we stay compliant and can continue looking after your assets effectively.
- Rest assured: This is not about extra cost—it’s about safeguarding your right to make well‑informed decisions.
Thankyou for your continued trust. These changes are part of our ongoing commitment to serve your best interests.
If you have any questions or concerns, please get in touch. We’re always here to help.