Certus’ Disclosures
Certus Insurance Brokers (NZ) Limited is a registered Financial Advice Provider and our disclosure statement can be viewed here. Each of our brokers are Registered Financial Advisers and their individual Disclosure Statements can be also viewed on their profiles on About Us page.
The amount we charge for our services is detailed on our invoices as “Certus’ Remuneration” and our commission and fees are included in the premium charged unless otherwise agreed.
Certus receives a commission from insurers and product providers when you purchase an Insurance Policy. The commission is calculated only on the portion of the premium that the insurer receives – called ‘the Company Premium’. The Company Premium consists of the total premium charged less the government levies (EQC and FENZ) and GST.
Certus also charge fees for our service, placement, implementation and ongoing administration of the insurance policies. Unless otherwise agreed, a fee of 3% of the total premium paid is charged if you have two or more policies or 5% of the total premium if only a single policy has been purchased.
The commission received by Certus varies by policy type and insurer. Below is a summary of the commission percentages that Certus receives.
| Products | Commission Range as a % of the Company Premium |
|---|---|
| Business Insurance | |
| Material damage, business interruption, liability, engineering, machinery breakdown, contract works, personal accident | 24% to 25% |
| Commercial marine hull, cargo and liability, carrier's liability, marine builders' risk | 20% to 22.5% |
| livestock and bloodstock | 18.75% to 21.5% |
| Commercial motor insurance, mobile plant, aviation and trade credit | 10% to 15% |
| Natural Disaster | 5% to 10% |
| Personal Insurance | |
| Home and Contents | 22.5% to 25% |
| Boat | 15% to 20% |
| Private Motor | 10% to 14.5% |
| Natural Disaster | 9% |
| Travel Insurance | 22% to 30% |