Who we are
Seneca Insurance Brokers Ltd (FSP36747, trading as SHARE) holds a licence issued by the Financial Markets Authority to provide financial advice to clients about their general insurance needs, across both personal and business risks.
We are members of Steadfast, Australasia’s largest broker network. Steadfast’s scale and market leading innovation mean we are in a stronger position to secure the best insurance solutions for you, at a competitive price.
While we remain a separate entity trading as SHARE we are closely aligned to the SHARE network of advisers and follow common processes in order to deliver a high quality of advice to our clients.
Financial Advice Provider Information
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Seneca Insurance Brokers Ltd (FSP36747, trading as SHARE) holds a licence issued by the Financial Markets Authority to provide financial advice to clients about their general insurance needs, across both personal and business risks.
Our Financial Advice Provider Licence requires that we:
• Keep records of all financial advice
• Maintain an internal process to resolve complaints from clients
• Provide Regulatory Reporting to the FMA
• Conduct due diligence on any provider to whom we outsource arrangements
• Maintain a business continuity plan and technology security
• Maintain compliance with the licensing requirements set out in the Financial Markets Conduct Act 2013
• Notify the FMA of any material changes to our financial advice service
Additionally, we will provide you with information on:
• Our Advisers and Advice Process.
• The Insurers we work with and how we are remunerated.
• How we manage and mitigate conflicts of interest.
• Our Complaints Process should something go wrong.
We are members of Steadfast, Australasia’s largest broker network. Steadfast’s scale and market leading innovation mean we are in a stronger position to secure the best insurance solutions for you, at a competitive price.
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Seneca Insurance Brokers Ltd t/a SHARE, and anyone who gives financial advice on our behalf, have duties under the Financial Markets Conduct Act 2013 relating to the way that we give 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 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)
• 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 have. More information is available by contacting us, or by visiting the Financial Markets Authority website.
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The Privacy policy tells you how we deal with your personal information. It describes how we collect, use, store, share and dispose of your personal information.
We will deal with your personal information in accordance with the Privacy Act 2020 and this Privacy Statement.
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Fees, expenses or other amounts payable
Depending on your insurance type and arrangements we may charge a policy fee, capped to a maximum amount. Our advisers may adjust these in certain circumstances based on:
⋅ Your document and service needs
⋅ The level of claims service required
⋅ When there is additional policy requirements and services
There may be times when we need to directly disclose to you a change to the fee or commission earned prior to placing your insurances. Some examples of this will be:
⋅ When we have used a specialist insurer or underwriting agency
⋅ If your account is a fee only account
⋅ Where you have bespoke requirements for your insurance
⋅ To enable us to deliver and maintain a high level of service across your insurances
⋅ When we provide additional risk management services or programme
Premium Funding enables you to pay the insurance premium over the term of your policy by instalments rather than as an up-front amount. If you enter into a contract with one of our third-party Premium Funding Partners (Elantis, IQumulate or Hunter Premium Funding), interest and (an) establishment fee(s) up to $30 will apply. The loans for this purpose are regulated by the Credit Contracts and Consumer Finance Act 2003. We do not offer advice about this service and we do not reward individual advisors when their clients choose to spread their payments in this manner.
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We manage all conflicts of interest, ensuring our financial advisers prioritise your interests above their own by following an advice process that ensures our recommendations are made on the basis of your needs and circumstances. All of our financial advisers complete training to understand and manage conflicts of interest. We maintain a register of conflicts of interests and any gifts and other incentives that we may receive. We review our compliance programme annually.
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If you have a problem, concern or complaint about our service, please tell us so that we can try to put things right:
Our Contact Details are:
0800 800 320
Dispute Resolution
If you feel we have not resolved your complaint satisfactorily despite our best efforts, you may refer your complaint to Financial Services Complaints Ltd (FSCL) – A Financial Ombudsman Service. FSCL is our independent external ombudsman and dispute resolution service that has been approved by the Minister of Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2088. FSCL’s service is free of charge to you.
The contact details for FSCL are:
Financial Services Complaints Limited (FSCL)
PO Box 5967, Wellington 6145
0800 347 257
How we work
Our Advice Process.
Understand you and your needs
Whether your an individual, a business or a big family, by getting to know you, and what’s going on in your world, we'll put the right cover in place.
Undertake our analysis and quote
A key part of our advice process is to undertake an analysis of your needs, the available insurance options. After that we’ll engage with insurers to provide these options and negotiate on your behalf.
Present our recommendations
We’ll make a recommendation based on your needs and the available options. While this might have some complexities we’ll take the time to walk you through it.
Implement what’s agreed.
Once you’re happy with what we’ve recommended and understand it. We’ll put in place the covers we agreed and provide evidence for these.
We’ll be there as things change
Your insurance protection should be reviewed as things change and we’ll do this on an annual basis as part of our advice process with you or more regularly if you notify us of changes. We will work hard to ensure the cover still meets your needs.
Our Advisers.
Our team is made up of specialist general insurance providing risk management and general insurance advice to clients across New Zealand. As financial advisers our team prioritise our clients’ interests above their own, we follow our advice process that ensures our recommendations are made on the basis of each client’s circumstances. To ensure we continue to act in your best interest we’ve taken some additional steps:
Our Advisers are paid a salary income with bonuses based on KPIS rather than individual accounts.
We abide by the Code of Professional Conduct for Financial Advice Services
All our financial advisers undergo annual training about how to manage conflicts of interest.
We undertake a compliance audit, and a review of our compliance programme is undertaken annually.