PUBLIC DISCLOSURE STATEMENT

Welcome to our Public Disclosure Statement, designed to provide you with clear insights into our financial services. Below, you’ll find detailed information about our licensing, the nature of our advice, fees, and more.

Licensing Information

HSIB Ltd is a registered financial advice provider (Authorised Body) under a full license, effective from 27 March 2024 with registration number FSP1006884. We are regulated by the Financial Markets Authority (FMA). For more details on our registration, please visit our profile on The New Zealand Financial Services Provider Register.

HSIB Ltd (referred to as “High Street Insurance Brokers” or “we” or “us”), is a named entity authorised to provide financial advice services under the Financial Advice Provider Class 2 License held by Folio.Insure Limited (Folio) with FSP registration number FSP1003687.

Nature and Scope of the Advice

Our financial advisers specialize in providing advice on commercial, domestic, and personal insurance. Our primary aim is to help clients protect their income, assets, and liabilities in adverse situations.

We do not provide guidance on Life and Health Insurance, Investments, Kiwisaver, Medical Insurance, or Mortgages. If you seek advice on these products, we can connect you with a specialist.

We do not have any significant limitations or restrictions on the scope of the financial advice services we offer. In the event of any such limitations or restrictions, we will promptly disclose them to you.

Folio is a member of Steadfast NZ Limited (Steadfast), an organisation that provides purchasing benefits and support services, to enhance the quality of our financial advice services and products that we have available to us.

HSIB Ltd offers financial advice on a wide range of products from various New Zealand-based and overseas providers. Some of our key products and providers include:

Fees, Expenses, or Other Amounts Payable

The main portion of an insurance policy payable is the insurer Premium. This is collected from you as part of your invoice and is distributed to the insurer (or underwriter). The policy may also incur other components collected on behalf, for example Goods and Service Tax, Fire and Service Levy, EQC Levy and Natural Disaster Premium.

HSIB Ltd earns revenue through commission from the policy premium placed, based on the class of policy placed. This commission rate is payable to HSIB Ltd as they are acting as an agent or intermediary to distribute the insurers financial product. The commission is included in the gross insurance policy premium itemised and is disclosed on your invoice for the purpose of transparency.

A Policy Fee is for the administrative services, advice or implementation of a policy and is calculated based on the administrative complexity and time required to evaluate, place and maintain a suitable policy for you. This Fee will be clearly outlined in your invoice. Adjustments to your insurance during the policy period may also incur a Fee. Any Fees added as part of your invoice will be disclosed to you prior to placing the policy.

Additionally, other Fees or charges unrelated to financial advice, such as credit card Fees, or establishing premium funding instalments, will be disclosed in the recommendations provided to you.

Referral arrangements may involve HSIB Ltd paying a percentage of commissions and/or fees earnt to the referring entity. Additionally, Folio.Insure Ltd retains a portion of revenue earnt on the transaction for the professional services that they provide to HSIB Ltd.

Should you have any questions about these amounts payable, please discuss this with your adviser who will give you an explanation accordingly.

Conflicts of Interest and Incentives

In situations where we may have a conflict of interest, such as recommending policies with different earnings for us, we’ll disclose this to you and take appropriate action to prioritize your interests.

In cases of policy cancellation, we may retain a portion of the commission originally earnt from any refund owed to you, which will be disclosed to you prior to placement.

Our financial advisers are committed to prioritising your interests above their own, and we maintain a register of conflicts, gifts, and incentives to uphold transparency.

Premium Funding

Premium funding allows you to pay insurance premiums in instalments rather than a lump sum. We receive a commission from the funding company based on the funded amount, a portion of which is retained for the services provided.

Complaints Handling & Dispute Resolution

For information about how we handle complaints internally, please see our Complaints and Disputes process here.

Duties Information

We have duties under the Financial Markets Conduct Act 2013 relating to the way that 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.
• 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 FMA website here.

Contact Information

For further assistance, please don’t hesitate to contact us directly:

Phone:                  0212402140

Address:               rob.huggins@hsib.nz

Website:              https://hsib.co.nz/

Financial Advisers

Meet our financial adviser who is dedicated to providing you with expert guidance:

Robbert Huggins (FSP192365) is a Financial Adviser at HSIB Ltd. You can reach them at:

Phone:                  0212402140

Email:                    rob.huggins@hsib.nz

GLOSSARY