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Cover-More (FMCA Regulation 229C Disclosures)

Licence Status and Conditions

Cover-More (NZ) Limited (FSP39781, trading as Cover-More) has been granted a Financial Advice Provider (FAP) licence by the Financial Markets Authority (FMA) to provide financial advice.

Standard licence conditions apply. No special or additional conditions have been imposed.

Nature and Scope of Financial Advice Service

Only factual information is provided on the range of travel insurance products arranged for issue.

Fees, expenses and other amounts payable

We do not charge you any fees or any other amounts for providing you advice. The only amount you will pay is for the premium if you purchase insurance from us.

The amount of premium will depend on a number of factors, including the type of travel insurance you purchase, the extent of the coverage, the length of time it covers and the countries you will be visiting.

Conflicts of interest and commissions or other incentives

We receive a commission from the insurer if you purchase one of our travel insurance products. We ensure this does not affect our duties to you referred to below. Otherwise, we have no conflicts of interest.

Our selling agents all receive a salary and do not receive any other incentives or commissions based on the insurance they may sell to you.

Our third-party distribution partners earn commission on each policy sold, which may vary from partner to partner.

Our selling agents undergo annual training about how to manage conflicts of interest. We undertake a review of our compliance programme at periodic intervals.

Complaints Process

When we receive a complaint, we will consider the facts and respond to you within 15 business days provided we have all the information we require. We aim to resolve complaints within 15 working days of receiving them. If we need more information or more time to investigate and respond properly to the issue, we will contact you.

If you are not satisfied with our response, please tell us. We will undertake a separate review of the matter. This may be conducted by Cover-More’s Customer Relations Officer or referred to the Dispute Resolution Officer of Cover-More or our Underwriter. Provided we have the information we need, we will advise you of the outcome of this review and detail the reasons for our decision within 15 business days. Our final review and decision will be provided to you within 45 days from the date you first lodged the complaint.

If you are not satisfied with our services you can make a complaint:

Dispute Resolution Process

Our procedures have been developed to deal fairly and promptly with your complaint. However, if you are not satisfied with our final decision you can choose to have the matter reviewed independently by the Insurance and Financial Services Ombudsman (IFSO). Its services are free to you, and as a member we agree to accept their decision. You have up to 3 months to contact IFSO after our final decision.

You can contact the Insurance & Financial Services Ombudsman (IFSO) Scheme Inc.

Our Duty and Duties to you

Cover-More and our selling agents may have duties under the Financial Markets Conduct Act 2013 relating to the way we liaise with and if we give you advice. We are required to:

  • give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests;
  • exercise care, diligence, and skill in providing you with advice;
  • meet standards of competence, knowledge and skill as set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice); and
  • meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

This is only a summary of the duties that we follow. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz.

Written copy is available

A written copy of this information is available upon request. If you would like a copy, just ask.

Contact Us

Cover-More (NZ) Limited (FSP39781, trading as Cover-More) is the Financial Advice Provider.

  • Email: [email protected]
  • Call: 0800 500 225
  • Write to:
    PO Box 105 203
    Auckland City 1143