Terms & Conditions
It is important that you read the terms and conditions listed below from BizCover Limited (BizCover/we/us/our).
Duty of disclosure notice
Before you enter into an insurance contract you have a duty to tell the insurer anything that you know, or could reasonably be expected to know that may affect its decision to insure you and on what terms.
You have this duty until the insurer agrees to insure you.
You have the same duty before you renew, extend, vary or reinstate an insurance contract.
You do not need to tell the insurer anything that:
- reduces the risk it insures you for;
- is of common knowledge;
- it knows or should know as an insurer; or
- it waives your duty to tell it about.
If you do not tell the insurer something
If you do not tell the insurer anything you are required to, it may cancel your contract or reduce the amount it will pay you if you make a claim, or both.
If your failure to tell the insurer is fraudulent, it may refuse to pay a claim and treat the contract as if it never existed.
BizCover is owned by BizCover Pty Ltd. In effecting this insurance the BizCover will be acting under an authority given to it by the insurer and BizCover will be effecting the contract as agent of the insurer and not the insured except where specified otherwise.
We do not recommend an insurance policy for you, or provide any financial advice to you, we only provide general information on policies available from the insurers on our website.
The information provided to you has been prepared without considering your personal circumstances, financial situation or needs. Therefore, before acting on any information provided, you should consider the appropriateness of the information having regard to your personal circumstances, financial situation or needs. If the information provided relates to the acquisition or possible acquisition of a new insurance policy you should read the insurer’s policy documents and policy wording (available on our website) and determine whether you wish to obtain financial advice before making any decision about whether to acquire the policy, which is a financial product.
Renewing the Policy
We will send you notification of whether the insurer is prepared to negotiate to renew the policy and if so, on what terms, at least 14 days before the expiry date of your policy.
Unless we require a new proposal or declaration from you to determine your premium or decide to offer renewal (we will tell you by email if this is the case), the renewal notice will show the premium for the new period of insurance and may also include notice of any changes to the terms of your policy.
Unless we require a new proposal or declaration from you, if you wish to take up this renewal offer and you are happy the information is accurate and you have no disclosure to make to insurers under your duty of disclosure, you will not have to do anything and we will automatically deduct / charge the renewal premium from
your account / credit card if we don’t hear from you by expiry of the current period of insurance. If you do not wish to take up the renewal offer you must contact us before expiry to advise us of this.
When you receive a renewal offer, you must tell us before expiry if the information contained in it is incorrect or incomplete and make such additional disclosure to us as is required under the Duty of Disclosure. We will then consider the additional information and whether we can offer renewal terms or what other terms we are
able to arrange for renewal.
If we are not able to automatically renew your policy we will send you an email notification for you to either complete your renewal online or to contact us. Please ensure you keep us updated of any change to your email address.
Commission and Fees
For each insurance product the insurer will charge you a premium. We receive from the insurer a commission that is a percentage of this premium, which may vary between 0% and 30%.
We also charge per policy a platform fee of $20 to $150 (exc GST) for administering the policies we arrange. This fee relates to the delivery of the service from BizCover to you including but not limited to the provision and maintenance of the technology platform and the services provided by BizCover’s consulting and administrative personnel. It is calculated based on factors including the work involved, the nature of your business and the product selected.
If you elect to pay your premium by monthly instalments, we will also charge you an instalment administration charge of $8 (exc GST) per month.
If you pay by credit card we may charge you a credit card (including arrangement & handling) fee. This fee covers the cost of bank charges etc. associated with such facilities.
All fees payable for services will be advised to you separately from your premium on the invoices we provide.
BizCover Remuneration Rights on Policy Cancellation
On cancellation of any insurance policy effected through BizCover, unless the cancellation takes place within any applicable cooling off period, you agree that the commission and any fees paid to BizCover are non refundable to you and may be deducted by BizCover from any refund otherwise payable by the insurer to
you on cancellation of the policy, irrespective of any terms to the contrary in the policy.
In this Privacy Notice “we”, “our” and “us” means BizCover Limited, its representatives, related companies, and third parties who provide services to us or on its behalf.
By personal information we mean any information about an identifiable individual. BizCover subscribes to the twelve Privacy Principles deriving from the Privacy Act, 1993. For further information see the Privacy Act.
We generally collect personal information from you or through service providers that act for us. However, there may be occasions when we collect it from someone else where they hold relevant information.
You may choose not to give us your personal information, but this may affect our ability to provide you with a product or service, including arranging a quote for insurance or an insurance policy for you, communicate with you or respond to your enquiries.
Policy also provides information about how you can access your personal information, seek correction of it and complain about a breach of privacy law and how we will deal with such a complaint.
BizCover Pty Ltd
Level 4, The Ferry Building, 99 Quay Street, Auckland, 1010
We have complaint handling and internal dispute resolution procedures in place, this service is available to you free of charge. Clients who are not satisfied with our services may contact our Compliance Officer to discuss any concerns they have. We will respond to your complaint within fifteen (15) working days and if you are not satisfied with our answer we will treat your complaint as a dispute. The matter will then be referred to our internal disputes resolution section and they will respond to you within a further fifteen (15) working days.
BizCover is a member of Financial Services Complaints Limited.
Further information is available from our office or online, please see our Resolving Customer’s Complaint and Disputes Brochure.