Regulatory Requirements & Complaints

In line with industry regulations ICIB is required to provide all clients with detailed information at certain stages of the advice giving process. ICIB will provide this information via personalised Disclosure Documents that outline the extent of our authorisation and what to do in the event of something going wrong. The following is a generic copy of our Disclosure Document - personalised copies are provided to all our clients to whom advice is offered.

Address:  ICIB Ltd, 7/26 Hobson Street, Auckland – PO Box 3174, Auckland 1140

Telephone number:  (09) 377 4314           Fax number:  (09) 373 4882

Email address:

This disclosure statement was prepared on:  1st March 2021

It is important that you read this document

This information will help you to choose a financial adviser that best suits your needs. It will also provide some useful information about the financial adviser that you choose and the regulations that exist to protect you .

What sort of adviser am I?

I am a Financial Adviser that can give you advice about: All types of Industrial, Commercial and Domestic insurances. I cannot give you advice on any Investment Products.

I operate on behalf of ICIB Ltd, who has been granted a Financial Advice Provider license.

How am I regulated by the Government?

As a Financial Adviser, I must comply with the duties set out in the Financial Markets Conduct Act (2013) together with the Code of Professional Conduct for Financial Advice Services. A copy of this code is available on request or can be viewed on our website, in particular, I will:

  • Treat you fairly and act with integrity
  • Maintain high standards of ethical behaviour, conduct and client-care
  • Exercise care, diligence and skill in my duties
  • Give priority to your interests over those of myself or my employer
  • Keep your information safe
  • Maintain my competence, knowledge and skill to ensure it remains up to date and relevant

On 05 February 2020, ICIB was granted a transitional license as a Financial Advice Provider. Standard conditions apply to this license which require ICIB to:

  • Only provide services for Fire & General Insurances, Personal Risk Insurances, Other Insurances and Kiwisaver Schemes (including switching funds).
  • Maintain appropriate record keeping.
  • Have an internal complaints process that ensures any complaint is dealt with in a fair, timely and transparent manner.
  • Comply with the Financial Markets Conduct Act 2013 and any associated regulations including recently amended Disclosure regulations.
How will ICIB manage any Conflicts of Interest?

ICIB has a Conflicts of Interest policy which outlines how we will manage any such conflict. We will disclose any conflict to you including any commission we receive from the insurance companies about whose policies we give advice.

Our recommendations are based on obtaining the optimum outcome for you, not the commission we may receive. Recommendations will consider the financial strength of an insurer, the policy wording, competitive premiums and our experience of claims and overall service from an individual provider.

How does ICIB get paid?

If you decide to take out insurance, the insurer will pay us a commission based on the amount of the premium. Commissions range between 5-10% for Natural Disaster Cover, 10-15% for Motor Insurance and 20-25% for other policy types. Alternatively, we may charge a Broker Fee in lieu of commission, the value of which will be negotiated with you on a case by case basis. We may also charge an administration fee depending on the complexity of your insurance needs.

Administration fees range from $25 to $250 per policy for standard policy types and from 1-3% of the premium for more complex accounts.

If you elect to pay your premium by monthly instalments, the Funding company will pay us a commission of 1-2%, based on the amount of the premium funded.

ICIB will disclose to you the total of any fees and/or commissions included in your overall premium charge.

What should you do if something goes wrong?

If you have a problem, concern, or complaint about any part of my service, please let me or ICIB know so that we can try to resolve the issue. A copy of ICIB’s internal complaints process is available on request or can be viewed on our website. You may contact the internal complaints scheme by referring the matter to me or the CEO:

By telephone on:         (09) 377 4314

By mail to:                   Attn CEO; PO Box 3174, Auckland, 1140

By email to:       

If we cannot agree on how to fix the issue, or if you decide not to use the internal complaints scheme, you can contact our external disputes resolution service: Financial Service Complaints Ltd.

This service has no cost to you and will help us resolve any disagreements.  

You can contact Financial Service Complaints Ltd:

By telephone on:         0800 347257                                       Fax:                 04 47203727

By mail to:                   PO Box 5967, Wellington, 6145

By email to:                                         Web:      

Thank you for taking the time to read this document - please do not hesitate to contact me with any questions you may have regarding this information.


I, (advisors name), declare that, to the best of my knowledge and belief, the information contained in this disclosure statement is true and complete and complies with the disclosure requirements in the Financial Markets Conduct (Regulated Financial Advice) Disclosures Amendment Regulations 2020.