Legal
Disclosure Statement
This disclosure statement is required under the Financial Markets Conduct Act 2013. It provides important information about Kapi Insurance and the financial advice we give.
Who we are
Kapi Insurance is a licensed Financial Advice Provider (FSP Number: [FSP Number]) regulated by the Financial Markets Authority (FMA) of New Zealand.
You can check our licence on the Financial Service Providers Register at fsp-register.companiesoffice.govt.nz.
Nature and scope of advice
We provide financial advice in relation to general insurance products, including but not limited to car insurance, home insurance, and contents insurance. We act as an insurance broker, meaning we work on your behalf to find cover that suits your needs.
Our advice is limited to the insurance products offered by the insurers we hold agency agreements with. We do not provide advice on life insurance, health insurance, investments, or KiwiSaver.
When we give you advice, we take into account your individual circumstances and insurance needs. We will explain the options available to you and recommend a product that we believe is appropriate for your situation.
Fees, expenses, and conflicts of interest
How we are paid
We do not charge you a fee for our advice. We receive commission from the insurer when you take out or renew a policy through us. The commission is a percentage of the premium you pay and is included in the price of the policy. We will tell you the commission arrangement that applies before you commit to a policy.
Conflicts of interest
Because we receive commission from insurers, there is a potential conflict of interest. We manage this by always placing your interests first and recommending the product that best fits your needs, regardless of the commission rate. We maintain internal policies and procedures to identify and manage any conflicts of interest.
Other incentives
From time to time, insurers may offer us other benefits, such as training, sponsorship for industry events, or other non-monetary incentives. We maintain a register of all such benefits. These incentives do not influence the advice we give you.
Duties and obligations
As a licensed Financial Advice Provider, we have duties under the Financial Markets Conduct Act 2013. These include:
- A duty to meet the standards of competence, knowledge, and skill set by the Code of Professional Conduct for Financial Advice Services.
- A duty to give priority to your interests by taking all reasonable steps to ensure our advice is not materially influenced by our own interests.
- A duty to exercise care, diligence, and skill when providing advice.
- A duty to meet the standards of ethical behaviour, conduct, and client care set by the Code of Professional Conduct for Financial Advice Services.
You also have a duty to provide us with accurate and complete information so we can give you appropriate advice. If your circumstances change, please let us know as it may affect the suitability of your cover.
Complaints
If you are not satisfied with our advice or service, we want to hear from you. We have a formal complaints process in place to ensure your concerns are addressed fairly and promptly.
For full details on how to make a complaint, including our internal complaints process and your right to refer a complaint to an external dispute resolution scheme, please visit our complaints page.
Licensing information
Provider name
Kapi Insurance
FSP number
[FSP Number]
Regulator
Financial Markets Authority (FMA)
Dispute resolution
IFSO
Questions about this disclosure?
If you have any questions about this disclosure statement or the advice we provide, please get in touch.