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Financial Services Guide

This Financial Services Guide (FSG) provides you with information that you may need to know about the services we provide for you. We recommend that you read this document in it’s entirety to understand the important aspects about your relationship with us, such as:

• Who we are:

• The services we offer you;

• How we and others are remunerated;

• Any potential conflict of interest we may have;

• How we ensure your privacy;

• How we will communicate with you;

• Our internal and external dispute resolution procedures and how you can access them;

• Your duties and obligations when arranging insurance.

It is important you read this FSG in it’s entirety and retain it for your future reference. By engaging, or continuing to engage us, you are agreeing to the delivery of our services and remuneration as described in this FSG. If we supply you with a copy of the Stening Simpson Terms of Business or we have a formal Service Agreement with you, the terms contained in those documents also form part of our terms of engagement for the services that we will provide to you.

Who we are

We are an Australian company that provide Specialised Risk Insurance services. Our services will be provided to you by Stening Simpson (International) Pty Limited (ABN 52 058 013 371) Australian Financial Services License (AFSL) No. 243532.

About Us

Stening Simpson Group of Companies was established in 1979. The Group are Registered Insurance Brokers, members of the Australian Surety Association and are honoured to have been awarded the prestigious excellence in Insurance Broking Award. The Group have been responsible for the placement of major risks both in Australia and overseas.

We provide Broking solutions to a wide range of clients from small to medium enterprises through to large multi-national corporations as well as affinity partners and associations. We work closely with a range of Insurers and Underwriting Agencies to arrange high quality benefits, competitive pricing and superior service levels.

Our services

Stening Simpson are committed to providing sound advice based on our market knowledge including:

• investigating and analysing your Specialised Risk insurance needs;

• providing information or advice about insurance solutions that may be appropriate for you;

• arranging, varying and renewing your insurance policies;

• helping you deal with your Insurer in the event of a claim

• risk management services.

How to contact us

Level 25, 100 Mount Street, North Sydney NSW 2060

Tel: 02 8019 7269


Our relationship with you

As Specialised Risk Insurance Brokers, we act on your behalf when dealing with Insurers.

Our relationship with Insurers

We work closely with a range of Insurers and Underwriting Agencies to arrange high quality benefits, competitive pricing and superior service levels. Wherever possible we will recommend you deal with Insurers and Underwriter Agencies that are authorised under the Insurance Act 1973 (Cth) to carry on insurance business in Australia. Such Insurers are subject to oversight by the Australian Prudential Regulation Authority (APRA)

Please note that we cannot guarantee the availability of cover for your particular risks or the solvency of any Insurer.

How we can receive your instructions

In order for us to act on your behalf you must provide us with instructions and other information about the services you require. You can give us instructions using the contact details provided or directly to your Account Executive. In most circumstances it will be necessary for you to give us instructions in writing.

Conflicts of Interest

We will contact you in a timely manner if we identify that there is or is likely to be a conflict of interest in us providing services to you.

Where there are potential conflicts of interest, they are managed in accordance with our Conflicts of Interest Policy. If we cannot provide services to you due to a conflict of interest that cannot be managed, we will notify you immediately.

Statement of Advice

If we provide you with advice we will, where required, give you a Statement of Advice (SOA). An SOA will explain our advice, including the basis for our advice and the information we have relied on. It also will include details about how we are paid together with any relevant relationships or associations.

We recommend you read this important document before acting on any advice we have provided.


We will invoice you for the premium, relevant charges (including GST) and any fee we charge you for arranging your insurance cover.

Your payment of the invoice issued is treated as acceptance of all the terms and conditions of the associated insurance cover.

Once you have paid an invoice, we hold the premium you pay in trust for you until we pass it on to the Insurer.

Where a premium remains unpaid, an Insurer may have the right to cancel the policy and you may not be insured. The Insurer may also charge a premium for the time on risk.

Invoices, fees, commissions and other remuneration

If you have any questions, or if you want more information about how we or our Authorised Representatives are paid, please contact your Account Executive or call the office.

Electronic Delivery

We will send documents to the contact details you have supplied unless you instruct us that you wish to receive the documents via a different method.

How do you pay for our services

Our remuneration will be either brokerage, which is a percentage of the insurance premium paid by you and allowed to us by the Insurer with whom the insurance contract is placed, a Professional fee as agreed with you, or a combination of Professional fee and brokerage, depending on your programme and the business placed within the Stening Simpson Group of Companies that provide services to you.

Our Professional fees will vary depending on the level of service and the costs associated with providing the services you require and will be shown on your invoice.

The range of brokerage we earn on the insurance products we place will vary depending on the product purchased.

Our remuneration is payable on the terms of our invoice and is considered fully earned at the time that we issue the invoice.

How we remunerate our employees

Our employees receive a salary and may also receive a performance bonus based on both the value and quality of the work they perform for our clients.

Our remuneration arrangements provide incentives to our employees to ensure our clients receive practical and effective advice and service.

From time to time, our employees may also be invited to an annual conference, receive sponsorship for conferences, functions, meals or other non-monetary benefits from external parties such as Insurers, Underwriting Agenciesor Reinsurers.

You do not bear the cost of sending our employees to these events and such relationships are managed under our Conflict of Interest Policy.

How we remunerate Authorised Representatives and Distributors

If your Account Executive is an Authorised Representative, he or she is generally paid a retainer fee that may also be supplemented by an additional payment based on performance. If an Authorised Representative provides you with advice, additional information explaining how they are remunerated will be included in the Authorised Representative Schedule. Authorised Representatives do not receive a salary. Instead, they may be paid a percentage of the commission and/or another form of remuneration for the services they provide.

Referral fees paid to third parties

If you were referred to us by a third party, we may pay the referrer a referral fee. This is a separate payment that we make to the referrer and does not increase the amount you pay for your insurance cover.

Additional Important Information

Misstatement of Premium

We make every effort to correctly determine the premium and other charges that apply to your insurance, however, occasionally unintentional errors can occur. In the event, that an amount has been misstated, we reserve the right to correct the amount. Where permitted by law, you shall not hold us responsible for any loss that you may suffer as a result of any such misstatement.

Professional Indemnity insurance

We maintain appropriate Professional Indemnity insurance (PI Insurance) which meets the requirements of Section 912B of the Corporations Act 2001 (Cth).

Complaints and dispute resolution procedures

We are committed to providing quality services to our clients. This commitment also extends to giving you easy access to people and processes that can resolve a service issue or complaint.

If you are concerned about the services provided by us, any product we have arranged or how we have handled your information, please immediately contact us. We will acknowledge your complaint immediately in writing or by telephone.

If, within 5 business days, your relevant Account Executive is unable to resolve your complaint to your satisfaction, the matter will be referred to the Stening Simpson Compliance Representative who can be contacted:-


Tel: 02 8019 7269

If your complaint is referred to the Compliance Representative, we will acknowledge receipt of your complaint in writing within (1) business day.

We will then investigate the matter and attempt to resolve your complaint in accordance with our Disputes and Complaints Management Policy. We will advise you of the outcome of our review of your complaint within 30 days of when you first made the complaint.

If an issue has not been resolved to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers.

Website: Email: Telephone:1800 931 678

In writing to: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001

AFCA is an independent external dispute resolution body approved by the Australian Securities and Investment Commission. AFCA resolves disputes at no charge to you and has the authority to deal with certain financial services disputes within it’s Terms of Reference.


We are committed to protecting your information in accordance with the Privacy Act 1988 (Cth) which includes the Australian Privacy Principles. For full details please see our Privacy Policy which is available on our website.

Special Assistance and access to our services

We will take all reasonable steps to ensure our services are accessible to clients with special needs. Please let us know if you are experiencing any vulnerability when engaging our services.

For example relating to your age, disability or mental or physical health conditions.

If you tell us or we identify that, due to your vulnerability, you need additional support or assistance, we will work with you as soon as possible to find a suitable way to provide our services to you.

During this time we will respect your right to privacy and self-advocacy. If your circumstances need third-party support (such as a lawyer, interpreter or friend) we will work with you to allow for this when providing our services.

Your Duty of Disclosure

We rely on you

It is important you understand that we will rely on the accuracy and completeness of the information you provide to us.

We do not independently verify the information you provide before sending it to the Insurer.

Keeping your information up to date

Once your insurance cover has commenced, you should tell us about any changes to circumstances when they occur. This will allow us to ensure your cover remains appropriate.

Your duty of disclosure

Before you enter into an insurance contract with an Insurer, you have a duty under the Insurance Contracts Act 1984 to disclose information to the Insurer. The Duty of Disclosure applies until the Insurer agrees to insure you or renew your insurance. The Duty of Disclosure also applies before you extend, vary or reinstate your insurance.

You do not need to tell the Insurer anything:

• that reduces the risk it insures you for;

• is common knowledge;

• that the Insurer knows or should know; or

• which the Insurer waived your duty to tell it about.


If you fail to comply with your Duty of Disclosure, the Insurer may cancel your contract or reduce the amount it will pay you if you make a claim, or both. If your failure to comply with the Duty of Disclosure is fraudulent, the Insurer may refuse to pay a claim and treat the contract as if it never existed.

Changes to this FSG

Information in this document may change from time to time. We may make such changes by amending the FSG and publishing an updated version on our website.

This FSG was prepared on 1 November 2023 and is issued by:

Stening Simpson (International) Pty Limited ABN 52 058 013 371 – AFSL No. 243532 of Level 25, 100 Mount Street, North Sydney NSW 2060