Financial Advice Disclosure

Please take a few moments to read this important information.

Licensing and nature and scope of financial advice

State insurance is underwritten by IAG New Zealand Limited (IAG/we). IAG has been granted a Financial Advice Provider (FAP) licence by the Financial Markets Authority to provide financial advice. Advice will only be given about fire and general insurance products underwritten by IAG.

Duties information

IAG employs Nominated Representatives who are authorised to provide financial advice on its behalf. IAG and its Nominated Representatives are bound by duties under the Financial Markets Conduct Act 2013 relating to the way financial advice is given.

That means we are required to exercise care, diligence and skill and give priority to your interests when providing financial advice. We also need to meet applicable standards of ethical behaviour, conduct, client care, competence, knowledge and skill under the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice).

You can learn more about the Code by going to www.fma.govt.nz and searching for ‘financial advice’.

Fees, commissions and other incentives

We do not pay any commissions or other sales incentives to our Nominated Representatives. If you receive financial advice from us you will not pay any additional fees, expenses or other amounts in relation to the receipt of that financial advice, regardless of whether you proceed with purchasing a State product or not.

Internal complaints procedures and external dispute resolution

We understand that things don’t always go to plan and there may be times when you feel we’ve let you down. If this happens, we want you to tell us. We’ll do our best to put things right as soon as possible or explain something we could have made clearer.

Step 1
Let us know what your concerns are:

  • Call 0800 80 24 24
  • Complete this form
  • Write to:
    Manager - Customer Support
    State Insurance
    Private Bag 92130
    Victoria Street West
    Auckland 1142

We'll acknowledge your complaint within five business days.

Step 2
If we can’t reach a resolution together, you’ll be referred to a manager who’ll aim to investigate and resolve your complaint within two weeks. If this isn’t possible, we’ll advise you of progress within ten business days.

Step 3
If after working with a manager, we haven’t been able to make it right, we’ll escalate your case to a Complaints Resolution Officer to review.

Step 4
If we’re unable to resolve your complaint, we’ll advise you in writing. You can refer your case to the Insurance & Financial Services Ombudsman (IFSO) Scheme.

The IFSO is an independent authority that will carry out an impartial investigation.

The IFSO scheme has been approved by the Minister of Commerce & Consumer Affairs to provide an external dispute resolution to consumers with complaints about financial service providers. It offers a free and independent complaints service.

The IFSO can be contacted in the following ways: