Financial Service Guide (FSG)

From when does this FSG apply?

This FSG applies from 1 July 2008 and remains valid unless a further FSG is issued to replace it. We may give you a supplementary FSG. It will not replace this FSG but will cover services not covered by this FSG.

How can I instruct you?

You can contact us to give us instructions by post, phone, fax or email on the contact number or details mentioned on page 1 of this FSG

Who will advise me?

You will have an Account Manager. Each account manager will be under the supervision of our General manager and/or Managing Director. Each account manager has educational qualifications including Diploma of Financial Services (Insurance Broking) and substantial broking experience. The company has professional membership of NIBA (National Insurance Brokers Association).If you do not wish to receive our advice, we may deal on your behalf by carrying out your instructions.If you do not obtain advice, you face the risk that the Financial Product/s you select may not fully take into account your objectives, financial situation or needs.

Who is responsible for the financial services provided?

Rowland House Insurance Brokers are responsible for the financial services provided including the distribution of this FSG. Rowland House Insurance Brokers ABN 95 291 076 586. Australian Financial Services Licensee 247126 Address Level 4, West Tower St Kilda Road Melbourne 3004

What kinds of financial services are you authorised to provide to me and what kinds of financial product/s do those services relate to?

Rowland House Insurance Brokers (Aust) Pty Ltd is authorised to advise and deal in general and life insurance products to wholesale and/or retail clients.We offer a range of services to assist you protect your assets. These include:

• • Reviewing and advising on your insurance needs
• • Arrangement and renewing insurance contracts on your behalf
• • Arranging premium funding, if required
• • Assisting with insurance claims

Will I receive tailored advice?

Maybe not in all cases. However, we may need information about your personal objectives, details of your current financial situation and any relevant information, so that we can arrange insurance policies for you, issue insurance policies to you or to give you advice about your insurance needs. We will ask you for the details that we need to know.

In some cases we will not ask for any of this information. If we do not ask, or if you do not give us all of the information we ask for, any advice you receive may not be appropriate to your needs, objectives and financial situation.

You should read the warnings contained in any Statement of Advice, or any other warnings that we give you, carefully before making any decision about an insurance policy.

Do you have any relationships or associations with Financial Product issuers?

Rowland House Insurance Brokers is an independent, privately owned Australian company. We use a range of underwriting entities to best match the financial product with the client’s needs and circumstances.

Do you have any relationships or associations with the insurers who issue the insurance policies or any other material relationships?
Rowland House Insurance Brokers (Aust) Pty Ltd is a shareholder of Steadfast Group Limited (Steadfast). Steadfast has exclusive arrangements with some insurers under which Steadfast will receive between 0.5 - 1% commission for each product arranged by us with those insurers. These payments are used to operate Steadfast.

Depending on the operating costs of Steadfast (including the costs of member services provided by Steadfast to us and other Steadfast shareholders) and the amount of total business we place with the participating insurers in any financial year, we may receive a proportion of that commission at the end of each financial year.

As a shareholder of Steadfast we have access to member services including model operating and compliance tools, procedures, manuals and training, legal, technical, banking and recruitment advice and assistance, group insurance arrangements, product comparison and placement support, claims support and group purchasing arrangements. These member services are either funded by Steadfast, subsidised by Steadfast or available exclusively to shareholders for a fee.

Steadfast is also a shareholder of Miramar Underwriting Agency Pty Limited (Miramar). As a shareholder, Steadfast may receive dividends from Miramar. These amounts will indirectly contribute towards the benefits we receive from Steadfast.

Steadfast has a shareholding in Macquarie Premium Funding. If we arrange premium funding with Macquarie Premium Funding for you, under its agreement with Macquarie Premium Funding, Steadfast will receive 0.5% of your insurance premium (including government fees or charges). As an equity shareholder of Macquarie Premium Funding, Steadfast may also receive dividends from profits of Macquarie Premium Funding. The amount of the Steadfast dividend is based on the share of profit attributable to funding arranged by Steadfast shareholders. The payments (commission and dividends) that Steadfast receives from Macquarie Premium Funding are used to operate Steadfast. Depending on the operating costs of Steadfast and the amount of total business we place with Macquarie Premium Funding in any financial year, we may receive a portion of those amounts at the end of each financial year.

You can obtain a copy of Steadfast's FSG at www.steadfast.com.au

If we arrange premium funding for you we may be paid a commission by the premium funder. We may also charge you a fee (or both). The commission that we are paid by the premium funder is usually calculated as a percentage of your insurance premium (including government fees or changes). If you instruct us to arrange or issue a product, this is when we become entitled to the commission.

Our commission rates for premium funding are in the range of 1% to 2% of funded premium. When we arrange premium funding for you, you can ask us what commission rates we are paid for that funding arrangement compared to the other arrangements that were available to you. The amount of our commission and any fee that we charge will set out in the premium funding contract.

How are any commissions, fees or other benefits calculated for providing the financial services?

commission will be calculated based on the following formula:
X = Y% x P

In this formula:
X = our commission
Y% = the percentage commission paid to us by the insurer. Our commission varies between 10% and 25%.

P = the amount you pay for any insurance policy (less any government fees or charges included in that amount).

Any fees that we charge you will be disclosed separately. Fees are set based on the complexity of the insurance placement, time involved and service level, including claims support

We do not often pay any commissions, fees or benefits to others who refer you to us or refer us to an insurer. If we do, we will pay commissions to those people out of our commission or fees (not in addition to those amounts), in the range of 1% to 10% of our commission or fees.

If we arrange insurance products through Miramar Underwriting Agency Pty Limited (Miramar), we may qualify for reward points under the Miramar rewards program. The number of points we earn will depend on the premium paid to Miramar for the insurance products we arrange with them, subject to a minimum threshold. The points may be redeemed for certain goods or flights.

Our employees that will assist you with your insurance needs will be paid a market salary. Senior staff may be entitled to bonuses or other monetary or non-monetary benefits depending on personal results and the overall performance of Rowland House Insurance Brokers (Aust) Pty Ltd

If we give you personal advice, we will inform you of any fees, commission or other payments we, our associates or anyone referring you to us (or us to any insurer) will receive in relation to the policies that are the subject of the advice.

See above for information on the Steadfast association and commission.

Will anyone be paid for referring me to you?

Where you have been referred to us by someone else, if we pay them a fee or commission in relation to that referral, we will tell you in the Statement of Advice who will receive that fee or commission and the amount received.

Can I cancel my insurance policy with you?

We cannot cancel a contract of insurance without written instruction from a person(s) who is authorised to represent each of the parties who are named as insureds in the contract of insurance.

We cannot cancel a policy without the insurers approval and some insurance contract contain a non-cancellation clause.

If a contract of insurance is cancelled before expiry of the period of insurance, we may refund the net premium we receive from your insurer. We may not refund our fees or commission for this your insurance.

How will I pay for the services provided?

For each insurance product the insurer will charge a premium that includes any relevant taxes, charges and levies. We often receive a payment based on a percentage of this premium (excluding relevant taxes, charges and levies) called commission, which is paid to us by the insurers. However, in some cases we will also charge you a fee. These will all be shown on the invoice that we send you. You can choose to pay by any of the payment methods set out in the invoice. You are required to pay us within the time set out on the invoice.

If there is a refund of premium owed to you as a result of a cancellation or alteration to a policy, we will retain any fee we have charged you. We may also retain commission depending on our arrangements with the insurer.

When you pay us your premium it will be banked into our trust account. We retain the commission from the premium you pay us and remit the balance to the insurer in accordance with our arrangements with the insurer. We will earn interest on the premium while it is in our trust account or we may invest the premium and earn a return. We will retain any interest or return on investment earned on the premium.

What information do you maintain in my file and can I examine my file?

We maintain a record of your personal profile, including details of insurance policies that we arrange or issue for you. We may also maintain records of any recommendations or advice given to you. We will retain this FSG and any other FSG given to you as well as any Statement of Advice or Product Disclosure Statement that we give or pass on to you for the period required by law.

We are committed to implementing and promoting a privacy policy, which will ensure the privacy and security of your personal information. A copy of our privacy policy is available on request. A copy is also available on our website.

If you wish to examine your file please ask us. We will make arrangements for you to do so.

What should I do if I have a complaint?

• • Contact us and tell us about your complaint. We will do our best to resolve it quickly.
• • If your complaint is not satisfactorily resolved within 20 business days, please contact the General Manager of Rowland House Insurance Brokers on 03 9530 2900 or put your complaint in writing and send it to the address noted at the beginning of this FSG. We will try and resolve your complaint quickly and fairly.
• • Rowland House Insurance Brokers is a member of the Insurance Brokers Disputes Limited (IBD). If your complaint cannot be resolved to your satisfaction by us you have the right to refer the matter to IBD.
  IBD can be contacted on 1300 780 808.

What arrangement do you have in place to compensate clients for losses?

Rowland House Insurance Brokers has a professional indemnity insurance policy (PI policy) in place.

The PI policy covers us and our representatives (including our authorised representatives) for claims made against us and our representatives by clients as a result of the conduct of us, our employees or representatives in the provision of financial services.

Our PI policy will cover us for claims relating to the conduct of representatives who no longer work for us.

Any questions?

If you have any further questions about the financial services Rowland House Insurance Brokers provides, please contact our Managing Director, Michael D Bidey on 03 9530 2900 or email michaelb@rowlandhouse.com

Retain this document for your reference and any future dealings with Rowland House Insurance Brokers