Disclosure Information

The following information provides you with an important overview of Turbo Insurance and Risk Limited, our duties to you, fees, and how we manage complaints.

Licence Status and Conditions

Insurance Advisernet New Zealand Limited (IANZ), FSP26221, holds a Financial Advice Provider licence issued by the Financial Markets Authority. Turbo Insurance and Risk Limited, FSP1009977, is authorised by that licence to provide financial advice services.

Nature and Scope of Advice

Turbo Insurance and Risk Limited provides advice to our clients about their general insurance needs.

Our financial advisers provide financial advice in relation to domestic general insurance, such as house, contents, landlords, motor vehicle and boat insurance, as well as commercial general insurance, such as commercial property, business interruption, commercial motor, marine, liability, professional indemnity and cyber insurance.

When providing our advice, we access a wide range of general insurance products from various general insurance providers in both the local and overseas market.

Fees, Expenses, or Other Amounts Payable

Turbo Insurance and Risk Limited may charge you a fee and charges for providing financial advice and for arranging, altering or cancelling your general insurance program. IANZ may also charge an administration fee for processing insurance premiums. If a fee will be charged, you will be advised at the time the financial advice is provided.

In some circumstances we may recommend another service provider to assist us in providing appropriate financial advice. These providers can include property valuers, property surveyors and motor vehicle valuations. These providers will charge a fee for the work they do. We will advise you of any related fees and charges prior to having them commence any work on your behalf.

Conflicts of Interest, Commissions, and Incentives

Turbo Insurance and Risk Limited may receive a commission when you when you pay your invoice for insurance cover or if we refer you to a premium funder with whom you enter into a premium funding arrangement.

Turbo Insurance and Risk Limited may pay your financial adviser a salary, plus bonuses and other incentives.  Turbo Insurance and Risk Limited and your financial adviser may receive indirect benefits from insurers and premium funders such as business lunches, tickets to sporting and/or cultural events or corporate promotional merchandise.

 

We recognise that the above commissions and incentives may create conflicts of interests for Turbo Insurance and Risk Limited and your financial adviser.  To manage these conflicts, we follow an advice process that ensures our recommendations are made based on your financial goals and circumstances.  Insurance Advisernet undertakes compliance audits of your financial adviser, who undergoes specialised training in this area.  Insurance Advisernet also annually audits our conflicts of interest compliance framework.

We may, however, choose to rebate all or some commissions and charge you a fee based on the nature of the service we provide.

Complaints and Disputes Process

If you are not fully satisfied with our services, please contact your financial adviser or Turbo Insurance and Risk Limited , who will try to resolve your complaint to your satisfaction. 

 

If a satisfactory resolution is not able to be achieved, your financial adviser or Turbo Insurance and Risk Limited will refer your complaint to IANZ. IANZ ’s complaints officer will formally acknowledge your complaint in writing and will endeavour to resolve your complaint fairly and within a timely manner.

If you are unable to resolve your complaint with IANZ, you may refer it to Financial Services Complaints Limited (FSCL), of which IANZ and Turbo Insurance and Risk Limited are members. FSCL is an approved independent dispute resolution scheme which handles complaints against financial service providers, including insurance brokers. FSCL is free to consumers and its decisions are binding on us (but not on you). Further information about FSCL is available from IANZ and/or from www.fscl.org.nz. You may contact FSCL directly.

Please click here for more details on IANZ’s complaints handling process.

FSCL contact details:
Website: www.fscl.org.nz
Phone: 0800 347 257
Email: complaints@fscl.org.nz

Duties

We believe in delivering the most appropriate advice, built upon our four core business pillars, Trust, Advice, Choice and Value.

We are bound by duties under the Financial Markets Conduct Act 2013 (Act),

We are required to:

·       Meet certain standards of competence, knowledge and skill, as set by the Code of Professional Conduct for Financial Advice Services (Code of Conduct). These have been designed to ensure that we have the relevant expertise to provide you with advice.

·       Take reasonable steps to ensure that you understand the nature and scope of the advice we give you and let you know if there are any limitations on the advice we provide. This will help you ensure that the advice provided meets your goals and objectives.

·       Give priority to your interest, by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests.

·       Exercise a prudent level of care, diligence and skill.

·       Meet certain standards of ethical behaviour, conduct and client care as required by the Code of Conduct. These are designed to ensure that we treat you as we should and give you suitable advice.

·       Not offer or recommend a financial product that contravenes the Act or related regulations. This gives you peace of mind that the products we recommend are compliant with relevant laws.

·       Make certain disclosure information available to you, at certain times, for example when advice is provided. We must not provide false, misleading or incomplete information. You can access the Code of Professional Conduct for Financial Advice Services here.

Contact Details

Turbo Insurance and Risk Limited
FSP Number: FSP1009977

Phone: 0800 823 338
Email: info@turboinsurance.co.nz
Address: 1 Olympia Place, Riverlea, Hamilton 3216
Website: turboinsurance.co.nz

Download a PDF copy of this disclosure

Privacy Policy

Privacy Policy for Turbo Insurance and Risk Limited

1. Introduction
Turbo Insurance and Risk Limited (“we,” “us,” “our”) is committed to protecting your privacy. We comply with the Privacy Act 2020 and uphold the Information Privacy Principles (IPPs). This policy explains how we collect, use, disclose, store, and manage your personal information.

2. Who We Are

  • Business Name: Turbo Insurance and Risk Limited (FSP 1009977)

  • Address: 1 Olympia Place, Riverlea, Hamilton, NZ

  • Privacy Contact Officer: James McNulty, Senior Broker/Director, 021823338
    This person handles privacy inquiries, requests, or complaints. The appointment of a privacy officer is required under NZ law.

3. Types of Personal Information Collected
We may collect:

  • Contact details (name, postal/email address, phone number)

  • Identity information (e.g. date of birth, driver’s license number)

  • Insurance-related data (e.g. vehicle, property, health details)

  • Information necessary to provide insurance advice and services

4. How We Use Your Information
Your personal information is collected and used to:

  • Provide insurance advice and arrange coverages

  • Process applications, quotes, and claims

  • Communicate with you regarding policy updates, renewals, and services

  • Comply with legal obligations (e.g. AML, regulatory reporting)

  • Improve our services and internal processes

5. Disclosure of Personal Information
We may share your personal information with:

  • Insurers, underwriters, reinsurers, claims adjusters

  • Loss assessors, legal or professional advisors, and insurers’ intermediaries

  • Third-party service providers (e.g. IT, data analytics, administration)

  • Regulatory bodies as required by law (e.g. AML/CFT reporting, Privacy Commissioner)
    If data is shared overseas, we will obtain your consent or ensure equivalent protections are in place.

6. Data Storage and Security
We protect your information using reasonable security safeguards against loss, unauthorised access, use, modification, disclosure, or misuse.
Data is retained only as long as necessary to fulfil the purposes for which it was collected, or as required by law.

7. Access, Correction & Complaints
Under the Privacy Act 2020, you have the right to:

  • Confirm whether we hold your personal information

  • Request access to your personal information (IPP 6)

  • Request corrections to personal information (IPP 7) 
    To exercise these rights, contact our Privacy Officer. If unsatisfied with our response, you may lodge a complaint with the Office of the Privacy Commissioner. 

8. Data Breach Response
In case of a privacy breach, we will assess the risk and notify affected individuals and the Privacy Commissioner where required by the Privacy Act 2020.

9. Cookies & Tracking (if applicable)
If we use cookies or tracking tools, this section explains what we collect, why, and how to opt out.

10. Updates to This Policy
We may update this policy from time to time. Changes will be effective once posted on our website, with the effective date clearly displayed.

Effective Date: July 2025

AML / Financial Crime Statement

Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Statement

Turbo Insurance and Risk Limited is not a reporting entity under the AML/CFT Act 2009. However, we recognise the importance of maintaining high ethical standards and protecting the financial system from misuse.

While our role as an insurance brokerage does not create direct AML/CFT obligations, we adopt the following best practices:

  1. Client Integrity

    • We only work with clients and insurers that operate lawfully and ethically.

    • We conduct reasonable background and integrity checks when engaging with new clients and partners.

  2. Transaction Awareness

    • We remain alert to unusual or suspicious behaviour that could indicate financial crime.

    • If we become aware of activity that may breach NZ law, we will escalate it appropriately, including referral to the relevant insurer or authority.

  3. Partnership with Insurers

    • The insurers and financial institutions we work with are reporting entities under the AML/CFT Act and must perform full customer due diligence (CDD).

    • We support their compliance requirements and assist our clients to meet any information requests.

  4. Commitment to Ethical Standards

    • We are committed to transparency, fairness, and acting in the best interests of our clients.

    • Our business practices align with New Zealand law, the Financial Markets Conduct Act 2013, and the Insurance Brokers Code of Practice.