> _Markdown transcription of Woodward Insurance Brokers Limited's Public Disclosure Statement, version 2026-05-24. Source: https://theinsuranceguy.co.nz/public-disclosure/._ --- # Public Disclosure Statement ## Woodward Insurance Brokers Ltd **FSP Number:** FSP5952549 **FAP Licence:** Issued by the Financial Markets Authority (FMA) --- ## Nature and Scope of Financial Advice Given **Woodward Insurance Brokers Ltd (FSP5952549)** holds a licence issued by the Financial Markets Authority to provide financial advice. Woodward Insurance Brokers Ltd provides advice to prospects and clients about life and health insurance, KiwiSaver, as well as fire and general insurance using Financial Advisers. We provide financial advice about products from a large range of providers, facilitating the application process and management of insurance policies. --- ## Categories of Products and Providers ### Personal Insurance - Life Insurance – Untimely death / Terminal Illness (lump sum and/or monthly income) - Trauma Cover – Suffering specified serious illnesses or specific events (lump sum) - Total Permanent Disability (TPD) – Unable to work ever again cover (lump sum) - Loss of income through sickness or disability (Income Protection – Loss of Earnings) (monthly income) - Medical Insurance – Needing timely hospital or specialist treatment - Cancer Cover (lump sum) - Cancer Treatment and Investigation Cover - Funeral Cover - Redundancy Cover (monthly income) - Debt Protection - Mortgage Repayment Insurance (monthly income) ### KiwiSaver ### Business Insurance - Debt protection cover - Business key person cover – covering a key person for death, trauma, total disablement, and disability - Shareholder protection insurance (shareholder buy-out covers through death or TPD) - Succession insurance (farm or business succession through death or TPD) - Group insurance – death, trauma, total disablement, disability, and medical cover ### Domestic Fire and General - House and Contents - Rental Property Cover - Landlord's Liability - Private Vehicle (including Vehicle Loss of Use, Roadside Assistance, Glass Cover) - Private Boat - Move in New Zealand - Private boat, jet boat, jet ski - Trailer - Motor bikes - Classic/vintage vehicles - Domestic Cyber - Travel Insurance - Lifestyle Blocks – Farm Assets, Motor and Liability - Construction Insurance - Renovation Insurance ### Contract Works / Civil Works Insurance - Home construction, alteration and extensions - Commercial building construction, alteration and extensions - Civil construction works insurance ### Rural – Farming / Lifestyle / Agriculture / Horticulture Insurance - Buildings – Sheds, Woolsheds, Dairy Sheds, Implements Sheds, Packing Houses, and stalls - Netting and greenhouses - Animal Shelters and Wintering Barns - Minor Farm Buildings - Interruption Cover, Loss of Gross Profit, Payroll, Claim Prep, and Additional Costs of Working - Contents / Machinery, Conveyors, Plant and Tools - Irrigators, Pumps, Wells, Culverts - Machinery Breakdown (Pumps and Motors – surface and submersible; Switchboards and other Electrical Equipment; Control Equipment and Starters; Refrigeration Plant; Other Machinery) - Forestry Lots - Bulk Fertilisers in the Open - Live Hedges and Shelterbelts - Live Plants in a fully enclosed building - Livestock Death - Farm Dogs - Specified and Unspecified Animals including bloodstock - Liquidation and Receivership Protection - Frozen Semen, Dog Food - Fences, Sheep and Cattle Yards - Utilities - Failure of Dairy Company to Collect - Bridges - Milk Cover, Produce, Feed, Refrigerated Goods and deterioration of Refrigerated Goods - Money - Livestock Worry - Liability Insurance - Governance Liability - Cyber Cover - Houses, Contents, and accommodation - Transit, export and local; Container and other - Tree and Vine covers - Crop Insurance - Light or Heavy Vehicles, and Mobile Plant (Cars, Vans, Trailers, Motorbikes, Implements, Agricultural Machines, Trucks, diggers, tractors, picking platforms and cherry pickers; Contractors Mobile Plant, Trucks and Trailers) ### Business / Commercial, Industrial, Public or Association - Business/Commercial Vehicles - Mobile Plant - Material Damage – Buildings, contents/plant/equipment, stock - Refrigerated Goods - Customers / Suppliers goods not otherwise insured - Machinery Breakdown Cover - Business Interruption (Loss of rents, loss of profits, additional costs) - Business Interruption due to loss to Mobile Plant - Contract Works (domestic, commercial or civil works) - Public and Products Liability (Defective workmanship / property worked on cover; LBP Coverage) - Statutory Liability - Employer's Liability - Design and Certification Liability - Asbestos Liability - Environmental Liability - Office Bearer's Liability (Body Corporate Liability) - Trustees Liability - Liability for Medical Malpractice - Trade Credit Insurance - Lawsafe - Terrorism - Taxation Investigation - Professional Indemnity (Negligent Act, error, or omission; Civil) - Management Liability (Directors and Officers; Fidelity or Crime; Internet Liability; Defence Costs; Employment disputes / employment practices liability; Workplace accident) - Associations Liability - Travel Insurance - Consequential Loss - Information Technology – Tech Liability, civil - Bailees Liability (storage for reward) - Product Recall – Special cover for food and beverage business - Boiler explosion - Clinical Trials - Defamation - Multi Year Construction Risk - Seedsmen's Liability - Structural Defects - Contaminated Products - Event Cover ### Cyber Cover and Liability - Cyber Cover and Liability ### Carriers Liability, Cargo Cover - Carrier's Liability - Cargo Insurance - Container Liability ### Marine – Commercial - Commercial Marine Hull - Fishing Insurance - Marine gear and Liability - Ship repairer's Liability / Marine repair - Boat Builders' Cover - Private boat, jet boat, jet ski - Protection and Indemnity (P&I) Insurance ### Aircraft - Aviation Hull and 3rd party liability - Aviation, Aviation care, custody or control, and Aviation Liability - Hangar keeper's Liability - Aviation Liability --- > Any financial advice provided can only be as good as the information you have provided us about your needs, financial situation, or goals. --- ## How We Are Paid ### Fees Woodward Insurance Brokers Ltd does not charge specific fees or expenses for the financial advice we provide. Instead, we are primarily remunerated through various forms of commissions paid by insurers and product providers. For **Fire and General insurance products**, we charge an **invoice fee of $17.25** for each invoice issued. For **single vehicle insurance**, the invoice fee is **$26.45**. In cases where brokerage commission is **not built into a fire and general product**, we will charge a fee equivalent to the usual commission typically allocated to that type of product. This will be **combined with the standard invoice fee** and presented as a **total invoice fee**. Additional fees may apply if you request services beyond our standard offerings. These will always be **discussed and agreed upon in advance**. With regard to **Life and Health Insurance**, we are paid by the insurer through **upfront, bonus, and FAP commissions** — a percentage of the first-year premium — as well as **ongoing trail or renewal commissions** for the servicing and maintenance of your policy. For **KiwiSaver**, we may receive a **joining fee**, **service commission**, and **trail commission** from the KiwiSaver provider. Providers in some cases may instead facilitate a fee on our behalf. Where clients request **printed and posted documents**, a reasonable fee may apply to cover the additional compliance, printing, and postage costs. --- ## Commissions, Incentives & Conflicts of Interest Woodward Insurance Brokers Ltd is paid by insurers and KiwiSaver providers in the form of: - **Upfront commission** - **Brokerage commission** - **Bonus commission** - **FAP commission** - **Trail, service, and renewal commissions** - **Premium funding commission** ### Life & Health Insurance For Life and Health Insurance, we receive **upfront, bonus, and FAP commissions** from insurers based on a percentage of the first-year premium. We may also receive **ongoing trail or renewal commissions** for as long as your policy remains in force. These commissions are **built into your policy premiums**, so you do not pay extra for them. ### KiwiSaver For KiwiSaver advice, we may receive a **joining commission** when clients are moved to a new provider or fund, as well as **ongoing service, fee, and/or trail commissions**. Providers in some cases may instead facilitate a fee on our behalf. These commissions and/or fees are paid by the provider to us and affect your fund balance. ### Fire & General Insurance For Fire and General insurance products, we are remunerated through **brokerage commissions**, which are **built into the premiums** by the insurer and **retained by us** for placing and servicing your cover. This does **not increase your premium**. When a client chooses to pay monthly through **premium funding**, we may also receive a **premium funding commission** — a small percentage paid to us by the premium funding provider for arranging and managing the facility. We also charge a **standard invoice fee of $17.25**, or **$26.45 for single vehicle insurance**, to help cover our administrative costs. If a policy has **no built-in brokerage commission**, we will apply a **fee equivalent to the standard commission** for that product type, added to the invoice fee. --- ## How Our People Are Paid Our staff are **salaried or waged** and do **not receive commissions directly** from insurers for insurance placement. However, some team members may receive **performance-based bonuses** as part of their overall remuneration package. These bonuses are **not linked to any particular provider or product**, but rather are based on **compliance, professionalism, and the quality of service provided** to clients. --- ## Third-Party Support At times, we may share a portion of our commissions with: - Other advisers or brokers whose expertise or relationships are instrumental in serving your needs - **Self-employed contractors** who provide services for, or through, Woodward Insurance Brokers Ltd All such arrangements are managed with a strong focus on ensuring **objective, professional, and compliant advice** and achieving **positive client outcomes**. --- ## Limitations on Our Advice **Kane** is a qualified insurance adviser and broker who can give advice regarding both Life / Health Risk covers and Fire and General Insurances. **Brody, Melissa, and Alayne** are qualified to give advice on fire and general products. **Bevan** can give advice about Life and Health Insurance as well as KiwiSaver. We all work as a team including support staff on insurance cases. We are **not qualified** to give advice on taxes, mortgages, legal matters, or investments. We are also **unable to give advice** on the following: - Securities - Any estate or interest in land - A futures contract It is recommended that you obtain advice from a **lawyer** for legal matters, an **investment adviser** for investment advice, and an **accountant** for tax advice before making any decisions pertaining to these areas. --- ## Our Duties and Obligations to You Under the Financial Markets Conduct Act 2013, we are bound to fulfil a number of duties to you, the client: - To put your interests first and to only recommend products most suitable for you. - To ensure you understand what sort of advice you will receive from us, and that this advice may be limited before giving it to you. - To exercise the same care, diligence and skill that any prudent adviser would in the same circumstances. - To meet the relevant competence standards and comply with continuing professional development requirements in the code of professional conduct. - To treat you fairly, to act with integrity, to give suitable financial advice, to ensure you understand this advice and to protect the privacy of your information. The Code of Conduct standards can be read here: [https://www.fma.govt.nz/assets/assets/code-of-professional-conduct-for-financial-advice-services.pdf](https://www.fma.govt.nz/assets/assets/code-of-professional-conduct-for-financial-advice-services.pdf) --- ## Complaints Policy and Conflict Resolution If you have a problem, concern, or complaint about any part of our service, please tell us so that we can try to fix the problem. Should you be dissatisfied with our financial advice services and wish to make a complaint, please contact us: - **Phone:** 0800 122 822 - **Email:** [email protected] - **Post:** The Manager, P.O. Box 8012, Invercargill 9845 We will acknowledge your complaint in writing and advise you on the steps being taken to resolve the issue. We will try to resolve your complaint quickly and fairly. Should we be unable to attend to your complaint within **2 working days**, we will advise you of this and endeavour to resolve the matter within **10 working days** of receipt. If you remain dissatisfied, you have the right to refer your complaint to our external complaints provider: ### Financial Services Complaints Limited (FSCL) **FSCL Membership Number: 2180** This service is free. - **Phone (NZ):** 0800 347 257 - **Phone (overseas):** +64 4 472 3725 - **Email:** [email protected] - **Website:** http://fscl.org.nz - **Postal Address:** Financial Services Complaints Limited, P.O. Box 5967, Lambton Quay, Wellington 6140 --- *No sub-documents were linked from this page. No professional indemnity insurer name or limit was stated on this page.*