• Pegasus Centre 42 Bundall Rd Bundall, Bundall, Queensland, Australia 4217

Financial Services Guide


The financial services referred to in this financial services guide (FSG) are offered by:

Mainstay Underwriting PTY LTD – ABN 47 123 301 762 – AFS 477690

Pegasus Centre
42 Bundall Rd
Bundall, Queensland, Australia 4217

Ph: 07 56 809 945
Email: info@mainstayunderwriting.com.au

This FSG sets out the services that we can offer you. It is designed to assist you in deciding whether to use any of those services and contains important information about:

  • the services we offer you.
  • how we and others are paid.
  • any potential conflict of interest we may have.
  • our internal and external dispute resolution procedures and how you can access them.
  • arrangements we have in place to compensate clients for losses.

Further information when personal advice is given

We will provide you with further information whenever we provide you with advice which takes into account your objectives, financial situation and needs. This information may include the advice that we have given you, the basis of the advice and other information on our remuneration and any relevant associations or interests. This information may be contained in a statement of advice (SOA).

When you ask us to recommend an insurance policy for you, we will usually only consider the policies offered by the insurers or insurance providers that we deal with regularly. In giving you advice about the costs and terms of recommended policies we have not compared those policies to other policies available, other than from those insurers we deal with regularly.


From when does this FSG apply?

This FSG applies from the 1st of November 2016 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 or email on the contact number or details mentioned on page 1 of this FSG.


Who is responsible for the financial services provided?

Mainstay Underwriting PTY LTD is responsible for the financial services that will be provided to you, or through you to your family members, including the distribution of this FSG.

Mainstay Underwriting PTY LTD holds a current Australian Financial Services Licensee no: 477690. The contact details for Mainstay Underwriting PTY LTD are on the front of this FSG.


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

Mainstay Underwriting PTY LTD is authorised to provide general advice and deal in general insurance products to wholesale clients.

We act as wholesale broker for the purposes of providing placement services in respect of the risks agreed and instructed by an Australian Financial Services licensed retail insurance broker.


Contractual Liability and your insurance cover

Mainstay Underwriting Pty Ltd is insured under a professional indemnity policy (PI policy) held by Mainstay Underwriting Pty Ltd.

The PI Policy covers us and our employees for claims made against us by clients as a result of the conduct of us and our employees in the provision of financial services as required under the Corporations Act. This cover will continue even after our employees cease working with us, provided that the Underwriters are notified of the claim when it arises and this is done within the relevant policy period.


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 SOA or PDS 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, www.MainstayUnderwriting.com.au. If you wish to look at your file please ask us. We will make arrangements for you to do so.


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 or reduction of your premium as a result of a cancellation or alteration to a policy, or based on a term of your policy (such as a premium adjustment provision), we will retain any fee we have charged you. We will also retain commission depending on our arrangements with the insurer, or charge you a cancellation fee equal to the reduction in our commission.

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 should I do if I have a complaint?

Making a Complaint

We will do everything possible to provide a quality service to you. However, we recognise that occasionally there may be an aspect of our service or a decision we have made that you wish to query or draw to our attention. We have complaints and dispute resolution procedures which undertake to answer your queries or complaints within fifteen (15) working days. If you have any queries or complaints, please contact:

Lloyd’s Australia Limited,
Level 9, 1 O’Connell St Sydney NSW 2000
Telephone: (02) 8298 0782
Alternative +44 (0) 207 327 7382
who will refer your dispute to Policyholder & Market Assistance at Lloyd’s

If you are not satisfied with our response, you may lodge a complaint with the Australian Financial Complaints Authority ("AFCA").

The contact details for the AFCA are as follows.
Phone:    1800 931 678
Email:      info@AFCA.org.au
Web:       www.AFCA.org.au
Mail:       Australian Financial Complaints Authority GPO Box 3 Melbourne VIC 3001


Any questions?

If you have any further questions about the financial services Mainstay Underwriting PTY LTD provides, please contact us.

Please retain this document for your reference and any future dealings with Mainstay Underwriting PTY LTD.