Our Programme applies to our consumer insurance business, which consists of the following insurance policies:
- Travel Insurance through an ASB, BNZ or Westpac eligible credit card
- Travel Insurance through Emirates, Expedia, Jetstar or Qantas
- Technology Asset Accidental Damage, Theft or Loss Insurance for eligible Apple or Dell products
- Accidental Damage, Theft or Loss Insurance through an eligible BNZ credit card
- Purchase Protection and Extended Warranty through a Westpac or TSB eligible credit card
- Identity Theft Insurance through Norton
- Corporate Travel Insurance
- Group Personal Accident Insurance
What is it
The Fair Conduct Programme (our Programme) describes the policies, processes, systems, and controls in place to ensure AIG NZ complies with the Fair Conduct Principle for our consumer insurance business.
AIG NZ is committed to treating our customers fairly. We will:
- Pay due regards to your interests
- Assist you to make informed decisions
- Not subject you to unfair pressure or tactics or undue influence
- Act ethically, transparently and in good faith at all times
- Ensure the services and products that the financial institution provides are likely to meet the requirements and objectives of likely customers.
How we comply with the Fair Conduct Principle
The following processes are in place to ensure we can meet the requirements of our Programme and the Fair Conduct Principle:
Products
- We have established processes and procedures to ensure that customer needs are considered and addressed before products are offered to the market.
- We regularly review our consumer insurance products and related services to ensure they are fit for purpose to meet our customer’s needs.
- We have up to date information available on our products via our Distribution Partners.
Distribution
- Our consumer insurance products are distributed to customers through our key distribution partners – these include retailers, airlines, and banks.
- We have agreements in place with all our Distribution Partners and conduct regular oversight of activities to ensure that they are provided in accordance with our expectations.
- This is a non-financial advice model – as such AIG NZ does not hold a financial advice provider licence. We ensure appropriate controls are in place to ensure customers are aware they are not receiving financial advice.
Interaction with you
- We provide training and support to employees and our distribution partners where appropriate to ensure you are treated fairly as per our commitment to you under the Fair Conduct Principle.
- We are committed to providing clear, transparent and timely communications to you, both directly and through our Distribution Partners.
- Our claims management team are in place to provide responsive, fair and professional service throughout the management of your claim.
Monitoring and Oversight
- We monitor key risk indicators to identify potential or actual conduct issues, and address these in a timely manner.
- There is periodic monitoring of compliance with our Programme to ensure that processes, systems and controls are operating to meet the requirements of the Fair Conduct Principle.
How to make a complaint
If you consider that we have breached the Fair Conduct Principle, or have any concerns in relation to our products or services, you can contact us directly at https://www.aig.co.nz/home/contact-aig/complaints-and-feedback or via our Distribution Partners.
AIG NZ is a licensed financial institution and is registered on the Financial Service Providers Register. Our compliance with the Fair Conduct Principle and our Programme are regulated by the Financial Markets Authority (the FMA).
