Code Of Conduct

This code provides employees with guidelines on the expected standards of behaviour whilst employed at Phoenix Insurance Brokers Pty Ltd.

The Management and Staff of Phoenix Insurance Brokers Pty Ltd will: -

General

  • discharge their responsibilities and duties competently and with integrity and honesty,
  • act in the best interest of its principal,
  • exercise reasonable care and skills,
  • comply with its fiduciary obligations to its principal, including:

- avoiding conflicts of interest;
- if a conflict of interest occurs,disclosing that conflict as soon as is reasonably practicable;
- disclosing fees, commission or other remuneration or benefit to the Insured, as required by Section 32 of the Insurance (Agents & Brokers) Act 1984;
- complying with all legislation dealing with secret commissions;
- maintaining the confidentiality of its principal’s records and other information;
- comply with the provisions of the Insurance (Agents & Brokers) Act 1984,
- the Insurance Contracts Act 1984, the Trade Practices Act 1974 and the State Fair Trading Acts;
- maintain all records required by law and comply with all requirements for production of, access to, or copying of, such records;
- provide such information as may be legally required by any regulatory or other authority;
- has an annual turnover (including the turnover of related enterprises or bodies corporate or other associated entities) not exceeding $350,000;
- be familiar with the General Insurance Code of Practice and all other relevant insurance codes of practice so that Insureds can be assisted in understanding and enforcing their rights under such codes.

Policy arrangements/renewal/cancellation

  • assist the Insured in determining its policy requirements and arranging policies,
  • promptly provide the Insured’s proposal information to the insurer,
  • promptly advise the Insured if policy coverage is declined, cancelled or lapsed,
  • take reasonable steps to promptly make available to the Insured, copies of policy wordings, insurance documentation,certificates and endorsements as may be required,
  • take reasonable steps to obtain from the insurer and promptly convey to the Insured, relevant information and documents being sent by the insurer to the Insured,
  • advise the Insured in writing of the insurer’s premium and other charges showing any fees charged by the Insurance Brokers separately,
  • promptly deal with the Insured’s requirements as to policy changes,
  • check the accuracy of insurer documentation pertaining to the Insured,
  • including cover notes, policies and endorsements,
  • when requested, assist the Insured with policy renewal,
  • not knowingly be a party to or participate in any deliberate nondisclosure or misrepresentation.

Drafting or policy documentation

  • when drafting policy documentation,make reasonable efforts to draft such documents in plain language,
  • when drafting proposal forms, attempt to ensure that they:

- identify the usual information the insurer ordinarily requires to be disclosed;
- are in plain language and provide instructions where necessary on how the questions should be answered;
- comply with the law.

Claims

  • when requested, assist the Insured in the making of a claim,
  • not knowingly be a party to, or assist in,or be in any way an accomplice in, the making of a fraudulent claim or a claim which is partly fraudulent,
  • when requested, assist the Insured with advice in the event of a claim being disputed or rejected including advice as to the availability of dispute resolution mechanisms.

Employees and agents

  • provide suitable training for its employees and agents having regard to the employee’s or agent’s role and responsibilities,
  • take reasonable steps to ensure that its employees and agents comply with the obligations set out above.

Provision of information

  • make available to Insureds, copies of the Code,
  • make available to Insureds, information on the Insurance Brokers Dispute Ltd,
  • advise Insureds in writing that they are a subscriber of the IBDL,

Any breach of this Code of Conduct will result in disciplinary action, which may include dismissal.  In addition, legal action may be taken for serious offences.

All employees are required to sign a copy of this Code of Conduct upon their commencement of employment. 

On signing this Code of Conduct, employee's endorse the principles which underlie this document, and in doing so agree to be responsible for actions and decisions, act in the best interests of the company and carry out obligations conducting all work related activities in accordance with these policies.

 

Employee Name ______________________________________

 

Signature ____________________________________________

 

Date  _______/________/_________