Business Disclosure
&
Terms of Trade
BUSINESS DISCLOSURE & TERMS OF TRADE CAPITAL RISK SOLUTIONS LIMITED
Introduction
Thank you for choosing Capital Risk Solutions to work alongside you as your risk management and insurance adviser. Capital Risk Solutions understand that we have a responsibility to provide you with the highest level of professional advice, service, and support, which you can trust and rely on.
This document details our legal disclosure requirements and standard terms of business which form the basis of our services to you. This document is provided as required under current regulations and details the terms of business that apply whenever you ask Capital Risk Solutions to act on your behalf regarding the services we provide to you, together with any additional or altered terms as agreed in writing with you.
By choosing Capital Risk Solutions as your adviser, you acknowledge and accept these terms. This means you do not need to sign any formal agreement to indicate your acceptance unless you are asked to do so.
These terms of business supersede and replace any previous terms of business you have received from Capital Risk Solutions and will apply until you are provided with new or amended disclosures, terms of business, or replace it with different terms as agreed with you.
If there is any inconsistency or conflict between these terms of business and additional or different terms agreed with you, the terms agreed with you will apply.
About Capital Risk Solutions
Financial Service Provider: CAPITAL RISK SOLUTIONS LIMITED
Financial Adviser: Jason Harris
Telephone Number: 04 210 1440 or 021 468 487
Address: Unit 11, 3 George Daniels Drive, Trentham, Upper Hutt
Email address: info@capitalrisk.co.nz
Website: www.capitalrisk.co.nz
LOCAL PEOPLE SERVING LOCAL PEOPLE
Capital Risk Solutions is a family owned and operated, single adviser insurance broking specialist. We are passionate about insurance and dedicated to providing our customers with expert advice, service, and advocacy, because we work for you, not the insurance companies. As a member of NZ brokers, New Zealand’s largest insurance broking group, we have access to the most respected and financially secure local and offshore markets. This ensures you have the most comprehensive cover at the right price.
OUR VISION
To be the insurance broker of choice for local businesses and households
OUR VALUES
• Trust
• Integrity
• Dedication
• Advocacy
Important information
This document will help you, the Customer, make an informed decision whether the products and financial advice offered by our adviser, are suitable and acceptable for your needs. This Disclosure Statement is required under the Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendment Regulations 2020.
What sort of Advisers are we?
Capital Risk Solutions Limited holds a class 1 single adviser licence issued by the Financial Markets Authority (FMA) to provide a financial advice service (being the provision of financial advice on fire and general insurance products). Under this licence, we may only provide you financial advice in relation to fire and general insurance products. Capital Risk Solutions Limited is a Financial Advice Provider under the licence. The licence came into effect when the Financial Services Legislation Amendment Act 2019 (FSLAA) came into force on 15 March 2021.
What financial advice can we provide to you?
Capital Risk Solutions Limited and our adviser can give financial advice on Insurance Products for Commercial and Domestic customers.
Capital Risk Solution’s insurance product providers are Insurance businesses in New Zealand that are licensed under the Reserve Bank under section 19 of the Insurance (Prudential Supervisor) Act 2010. The Insurers have a financial strength rating from an approved rating agency. To view the Insurer ratings click on the link https://www.rbnz.govt.nz/regulation-and-supervision/insurers/licensing/register.
Capital Risk Solutions Limited’s insurance product providers are required to have financial strength ratings with a minimum of B- and above. When you receive a quote from me you will be supplied with the current financial strength ratings for the product providers that I have quoted. If you accept the financial advice, I will supply a current rating for the product provider that you have selected.
Limitations and restrictions
Capital Risk Solutions Limited is committed to providing our customers with good financial advice that is suitable for our customer’s needs. We only provide financial advice on Fire & General Insurance Products, excluding Life & Health.
How we get paid for the Financial Advice and Products we provide to you
Fire & General Insurance Products
Capital Risk Solutions Limited receives commission when you accept our financial advice and purchase an insurance policy. The commission is paid by the Insurer (product provider’s) on each insurance policy that you purchase. The commission paid to Capital Risk Solutions can vary from 7.5%-30% of the insurer portion of the total premium (total cost of the Insurance policy less government levies and GST).
Policy Administration Charges and Fees
Capital Risk Solutions may charge a policy administration charge or fee for financial advice. We will tell you what the fee is, and we will show the charge or fee on your policy invoice. These charges and/or fees are only payable by you when you accept financial advice, and the insurance policy is purchased. The fees charged are for the service, placement, implementation, and administration of the insurance policies you choose to purchase. The total fees payable may increase with the number of insurance policies that you choose to purchase. Fees may be charged in isolation, or in addition, to commission.
Our Adviser Acts with Integrity
To ensure our adviser prioritises your interests above their own, we follow an advice process that ensures recommendations are made based on your individual requirements, wishes, and circumstances. Our adviser participates in ongoing professional development regarding the management of conflicts of interests and a register of interests is maintained in our office. An annual review of our compliance programme is undertaken to ensure adherence to our standards.
You should be aware that there may be potential conflicts of interest that you may need to take into consideration when deciding to accept financial advice from us or our adviser. Our adviser will make you aware of any conflicts when giving advice if such conflicts exist.
NZbrokers Management Limited
Capital Risk Solutions is a member of NZbrokers Management Limited. NZbrokers Management Limited provides services such as IT, education, training, claims management support, and group member benefits to Capital Risk Solutions. When a customer accepts financial advice and purchases a policy, NZbrokers may receive a remuneration from the Product Provider.
Profit Share
Capital Risk Solutions Limited does not engage in, or accept, any form of profit share from insurers.
How to make a Complaint
Capital Risk Solutions takes our responsibility for quality service to you seriously. If you have a problem or concern, or you are dissatisfied with a product or the advice that has been provided by your adviser and you require action to be taken, please tell your adviser so we can help to resolve the issue. Please contact your adviser directly, or feel free to use our Complaints Process, which you will find at www.capitalrisk.co.nz
If a complaint is received by Capital Risk Solutions, we will approach it with an open mind, listen, and treat each complaint with courtesy and respect. We will promptly acknowledge the complaint at the earliest possible opportunity and make every attempt to resolve your complaint in a timely manner. You will receive a written decision, remedies, and resolution as soon as practicable after the outcome has been determined.
If you feel your complaint is not resolved to your satisfaction using the internal complaints process, or you are unsatisfied with the response or resolution, you can contact Financial Services Complaints Ltd (FSCL). FSCL is a dispute resolution scheme which Capital Risk Solutions is a member of. This service is a free and independent service that will help investigate or resolve the complaint. You can click on this link to find out how to make a complaint to Financial Services Complaints Limited http://www.fscl.org.nz/complaints/how-make-complaint
You can contact (FSCL) at:
Postal Address: P.O. Box 5967, Wellington 6145
Email: info@fscl.org.nz
Telephone: 0800 347 257
Website: http://www.fscl.org.nz/
Our Adviser’s Duty to You
Our Adviser gives financial advice to customers on behalf of Capital Risk Solutions Limited. When giving advice our Adviser must:
• Hold a Level 5 New Zealand Certificate in Financial Services (or equivalent), by 15 March 2023
• Maintain competence, knowledge, and skills for the provision of financial advice by participating in continued professional development.
• Abide by the Code of Professional Conduct for Financial Services and display ethical behaviour, good conduct and provide client care. •Listen to you carefully to discover your needs.
• Recommend products or services that meet your needs and explain why.•Give clear and concise communication.
• Protect client information.
• Give priority to your interests when giving financial advice.
Who licenses and regulates us?
The Financial Markets Authority (FMA). You can report information about us to the Financial Markets Authority at: https://www.fma.govt.nz/contact/ or email questions@fma.govt.nz but if you want to complain you should use our dispute resolution procedures described under How to make a Complaint? And What to do if you are not satisfied after making a complaint?
This disclosure statement was prepared on: 22/09/2026.
TERMS OF TRADE
1.0 Insurance Broking & Financial Services
1.1 We are independent of all insurers and are not bound to use any particular insurer. We will advise You of those with whom We propose placing Your insurance and will also advise You of any change of insurer after the insurance has been placed. Unless You advise Us to the contrary, each insurer with whom We place Your insurance will be deemed acceptable to You.
1.2 You understand that We will use all reasonable precautions in choosing an insurance company and will advise You of their claims paying rating where required by legislation. You understand that We cannot guarantee the financial status of any company and We do not accept any liability due to the failure of any insurance company.
1.3 We will negotiate with insurers on Your behalf and will keep You informed of any significant developments
1.4 As soon as practicable after placing insurance on Your behalf, We will provide You with evidence of that placement.
1.5 We will do Our best to ensure that policies and endorsements are issued by Your insurers promptly and will pass each correctly completed and signed document on to You in a timely manner.
1.6 Before passing insurers documents on to You, We will check them to ensure that they meet requirements and conform with the negotiated terms and scope of cover.
1.7 We take no responsibility for the adequacy or accuracy of policies arranged for You by any other broker or direct insurer. If required by You, We will review these policies and will advise You of the outcome and make such recommendations, as We consider necessary.
1.8 Once premiums and related statutory charges have been paid to Us, We will arrange for their timely disbursement to insurers and the appropriate authorities.
1.9 We will automatically renew all policies arranged for You by Us on Your behalf unless You advise Us not to.
2. Claim Service
We are committed to achieving the best outcome for you from every claim on policies arranged, or reviewed, by Us during Our appointment. We will:
• Assist You with the preparation of claims.
• Act as Your advocate in negotiations with insurers or their legal advisors.
• Regularly review and pro-actively manage Your claims.
• Provide You with records and analysis of claims as required.
If You terminate Our appointment, We will not continue to provide services in relation to any notified claims or circumstances.
3. Other Risk Consultancy Services
The scope, objectives and procedures for any loss control or other consultancy services will be agreed with You prior to their commencement.
4.0 Your Responsibilities
4.1 The customer must pay the Premium by the due date as set out on the policy invoice.
4.2 The customer must provide all relevant information to the company.
4.3 The customer must inform the company of any material change during the period of this contract.
4.4 If the customer fails to follow these responsibilities it may invalidate the policy.
5.0 Our Responsibilities
5.1 The Company will provide insurance broking services with reasonable care, integrity and skill and as defined by the Code of Conduct. All representations made (whether express or implied) and all other implied conditions, warranties and terms as to the provision of the services are otherwise excluded to the extent permitted by law.
5.2 The Company will forward payments received to the Insurer as per the Insurance intermediaries Act 1994.
5.3 The Company and Insurer will keep all customer information confidential and will use it for the sole purpose of which it was disclosed in line with the Privacy Act.
5.4 The company may correspond with you by electronic communication which may not always be secure and may be read copied or interfered with in transit. We are not responsible for risks associated with electronic communication.
6.0 Commissions and Fees
6.1 The Company will receive commission from Insurers.
6.2 We may charge a policy administration/broker fee for our services in addition, or alternatively to, any commission received from insurers.
6.3 Unless mandated by law, commissions and any fee earned on policies are deemed to be earned at the inception of the policy.
7.0 Payment, Late Payment
Default of Payment and Consequences of Default of Payment
7.1 The method of payment will be made by direct credit or as arranged through an agreed Premium Funding company.
7.2 Payment in full of outstanding amounts shall be received no later than the 20th of the month after invoice date or by the effective/inception date of the cover, whichever is the later, unless specific written agreement to the contrary.
7.3 If the payment remains outstanding further to the above, then your policy may be cancelled and be null and void. Any claim on the Insurer could be invalid.
7.4 Premium Funding can be arranged at the customer’s option. This will be arranged via a third-party provider and be subject to their terms and conditions.
7.5 Any invoices that are billed outside of the Premium Funding arrangement are subject to be payment terms stated above in Clause 7.2.
8.0 Cancellation
8.1 The Customer can cancel a policy with the Insurer at any time by providing written notice to the company.
8.2 If the Company and/or Insurer are unable to continue to offer the policy and/or services to the customer, we will provide written notice subject to the Insurance policy.
8.3 Commission earned and/or fees charged for the Companies services are earned at the time the insurance cover is placed and are not refundable in the event the cover is terminated early. Any premium refunds generated by the cancellation of a policy bythe Customer, the Company, or the Insurer, will be paid back to the Customer once any outstanding premiums have been received from the Insurer, less commission and fees.
9.0 Privacy
We are committed to protecting Your privacy. We use the information You provide to advise about and assist with Your insurance needs. We only provide Your information to the companies whom We recommend or whom You choose to deal with (and their representatives). We do not trade, rent or sell Your information. You can check the information We hold about You at any time.
10.0 General
10.1 Prior to the renewal of Your insurance policies, We will discuss with You any changes in Our service as may be appropriate for the ensuing year.
10. 2 Our obligation to provide services to You will end when Our appointment is cancelled. You can cancel Our appointment by notice in writing to Us. You may however, want to enter into a separate claim servicing agreement with Us. Under such an agreement, We will continue to provide service for nominated claims that arose before Our appointment was cancelled.
10.3 Upon notice of cancellation of Our Appointment We will:
• Immediately withdraw from all negotiations in progress at that time, including but not limited to renewal negotiations for any insurance falling due within the period of notice;
• Take no further action in relation to any current or ongoing claim for which We are acting on Your behalf, unless We have agreed to a separate claim servicing agreement.
• We will keep all information about Your business confidential, and except where necessary for the purpose of providing services to You, will not disclose it to any third party without Your consent. This undertaking does not apply to information which is already public knowledge.
11.0 Definitions
11.1 Company means Capital Risk Solutions Limited
11.2 Insurer means the provider of the insurance policy or product.
11.3 Client/Customer means the person(s) or company obtaining financial advice
11.4 Premium is the charge of the policy.
11.5 Insurance Policy is the Insurance product provided to the client and combines the policy document, insurance schedule and application form.
11.6 Contract is the agreement by the client to pay the premium in exchange for advice from the company and for the insurer to provide cover as set out in the Insurance policy document.
11.7 Period means the dates the policy applies to.