Financial Services Guide

A guide to our relationship with you and others


The financial services referred to in this Financial Services Guide (FSG) are offered by:
McCluskey Insurance Brokers Pty Ltd
ABN: 47 090 397 229
Australian Financial Services Licence Number: 231160
362 King Street, Newcastle NSW 2300
This guide contains important information about:
  • the service we offer you
  • how we are paid
  • any potential conflict of interest we may have
  • our internal and external dispute resolution procedures and how you can access them
Statement of Advice
If you are a retail client you will receive a Statement of Advice (SOA) whenever we provide you with advice which takes into account your objectives, financial situation and needs. The SOA will contain the advice which will enable you to make an informed decision about your insurance needs.
In the Statement of Advice we will tell you about:
  • our fees and commission
  • any associations we have with Financial Product Issuers or other parties which may have influenced the advice we give you.
Product Disclosure Statement
If we offer to arrange the issue of an insurance policy to you, we will also provide you with, a product disclosure statement (PDS) and policy wording from the insurer, unless you already have an up to date PDS from the insurer. The PDS will contain information about the particular policy which will enable you to make an informed decision about purchasing that policy.
Who is responsible for the financial services provided to you?
McCluskey Insurance Brokers Pty Ltd are responsible for the financial services provided including the distribution of this Financial Services Guide (FSG).
McCluskey Insurance Brokers Pty Ltd ABN 47 090 397 229.
An Australian Financial Services Licensee, No: 231160 
What kinds of Financial Services are we authorised to provide you and what kinds of Financial Product/s do those services relate to?
We are able to provide Financial Services in, (these include but are not limited to) the following;
·         Motor Vehicle
·         Home Buildings & Contents
·         Sickness & Accident
·         Consumer Credit
·         Travel Insurance
·         Personal & Domestic Property
·         All Commercial Insurance Products
What information should you provide to receive personalised advice?
You need to provide us with a list of your personal objectives, details of your current financial situation and any relevant information, so that we can offer you the most appropriate advice possible.
You have the right not to tell us, if you do not wish to.However, if you do not, the advice you receive maynot be appropriate to your needs, objectives and financial situation.
You should read the warnings contained in the Statement of Advice carefully before making any decision relating to a financial product/s.
What information do we maintain in your file and can you examine your file?
We maintain a record of your personal profile including details of your objectives, financial situation and needs. We also maintain records of any recommendations made to you.
We are committed to implementing and promoting a privacy policy, which will ensure the privacy and security of your personal information. If you wish to examine your file please ask us. We will make arrangements for you to do so.
How can you give us instructions about your Financial Product/s requirements?
You may tell us how you would like to give us instructions. For example by telephone, fax or other means such as e-mail. But all instruction must be confirmed in writing.
Cooling Off period
A cooling off period may apply to an insurance policy issued to you as a retail client. During the period you may return the policy. Details of your cooling off rights will be included in the relevant Product Disclosure Document.
Will anyone be paid for referring you to us?
Where you have been referred to us by someone else, if we pay them a fee or commission in relation to that referral, you will be advised by the referrer what that fee or commission will be.
What should you do if you have a complaint?
1. Contact us and tell us about your complaint. McCluskey Insurance Brokers Pty Ltd. is a member of the Financial Ombudsman Service. We will try and resolve your complaint quickly and fairly (within 20 days).

2. If the complaint cannot be resolved to your satisfaction within 20 business days, you have the right to refer the matter to:

Australian Financial Complaints Authority (AFCA)  

Mailing address: Australian Financial Complaints Authority, GPO Box 3, Melbourne, VIC 3001
Phone: 1800 931 678 

How do you pay us for the services provided?
You may pay us a fee. Alternatively, we may receive a payment called commission, which is paid to us by the Financial Product issuer/s.
How are any commissions, fees or other benefits calculated for providing the financial services?
Generally the payment we receive will be based on the amount you pay.  It may vary from one Financial Product issuer to another. Details of the payment we receive are contained in the Product Disclosure Statements for most Financial Product issuers available from us.
If you receive personal advice from us, we will tell you about any commissions, fees and any other benefits, where possible in actual dollar amounts, in the Statement of Advice. We will give you this Statement of Advice, before we proceed to act on your instructions.
Commission - The commission is a percentage of the insurer’s base premium (ie premium excluding stamp duty, fire services levy, GST or any other government charges, taxes, fees or levies). The rate ranges between 0% and 20%. The commission reimburses us for administrative and other expenses we incur in providing our services. It also covers the cost of performing the distribution functions of the insurer such as data entry, marketing, annual review and underwriting.
Fees paid by you - We may charge you :
·         An admin fee in addition to commission when you enter into an insurance policy
·         A Flat fee for arranging an insurance policy or a fee based upon the time we spent advising you.
·         An Annual management fee
Commercial Premium Funding - Where we have arranged a monthly premium instalment payment plan, for your Commercial Policy, we will also earn between 1% and 4% of the total premium borrowed as a commission for arranging this contact and for liaising with you during the year if problems arise with payment
Interest Earned on your Premium - We may hold your premium within our Insurance Broking Account for periods between 14 to 90 days from due date, dependant upon the Insurance Companies credit terms. During that time, we are entitled to retain any interest earned on that premium. However, we are also required to pay any bank fees and government charges associated with the holding of your premium
Steadfast Group Limited
1. McCluskey Insurance Brokers 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.

2. 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.
3. Steadfast is also a shareholder of Miramar Underwriting Agency Pty Ltd (Miramar). As a shareholder, Steadfast may receive dividends from Miramar. These amounts will indirectly contribute towards the benefits we receive from Steadfast. We may also qualify for reward points under the Miramar rewards program for insurance we arrange with Miramar. 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.
3. You can obtain a copy of Steadfast's FSG at
Any Questions?
If you have any further questions about the financial services McCluskey Insurance Brokers Pty Ltd provides, please contact us on 02-49296113.
Retain this document for your reference and any future dealings with McCluskey Insurance Brokers Pty Ltd.