Legal
Disclosure Statement
Required under the Financial Markets Conduct Act 2013, this statement sets out key information about Kapi Insurance and the financial advice we provide.
Who we are
Kapi Insurance is a licensed Financial Advice Provider (FSP1012258) 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 on general insurance products, including car, home, and contents insurance. As an insurance broker, we work on your behalf to find cover that fits your needs.
Our advice is limited to insurance products from the insurers we hold agency agreements with. We do not advise on life insurance, health insurance, investments, or KiwiSaver.
Before giving advice, we consider your individual circumstances and insurance needs. We explain the options available and recommend a product we believe is appropriate for your situation.
Fees, expenses, and conflicts of interest
How we are paid
When you take out or renew a policy through us, the insurer pays us a commission. This is a percentage of the premium and is already included in the price. We'll tell you the commission arrangement that applies before you commit.
Conflicts of interest
Receiving commission from insurers creates a potential conflict of interest. We manage this by placing your interests first and recommending the product that best fits your needs, regardless of the commission rate. We have internal policies and procedures to identify and manage conflicts.
Other incentives
Insurers may occasionally offer us other benefits like training, event sponsorship, or non-monetary incentives. We keep a register of all such benefits, and they 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 give us accurate and complete information so we can advise you properly. If your circumstances change, let us know, as it may affect whether your cover is still suitable.
Complaints
If you're not satisfied with our advice or service, we want to hear about it. We have a formal complaints process so your concerns are dealt with fairly and promptly.
Full details, including our internal process and your right to refer a complaint to an external dispute resolution scheme, are on our complaints page.
Licensing information
- Provider name
- Kapi Insurance
- FSP number
- FSP1012258
- Regulator
- Financial Markets Authority (FMA)
- Dispute resolution
- IFSO
Questions about this disclosure?
If anything in this statement is unclear, or you have questions about the advice we provide, get in touch.