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Conflicts of Interest

Australis Group (Underwriting) Pty Ltd ABN 80 082 459 372 AFSL 238170 and Interpacific Underwriting Agencies Pty Ltd ABN 38 077 515 327 AFSL  234964 are Australian Financial Services Licensees and form part of the  Arthur J. Gallagher group of companies.

As a group organisation, we have a policy on how we attempt to avoid, manage and resolve conflicts of interest.

What are conflicts of interest?

Put simply, conflicts of interest are circumstances where the interests of a person or group who we have a special association with, and that association expressly or impliedly imposes a duty to avoid any conflicts of interest with, is inconsistent with our interests or a group or party related to us which may influence any decisions we make.

Basis for Avoiding and Managing Conflict of Interest

Chapter VII of the Corporations Act 2001 (Cth), requires Australian Financial Services Licensees to avoid and manage any potential, apparent or actual conflicts of interest. Australian Financial Services Licensees are also obligated to comply with general duties to avoid conflicts of interest imposed by:

·          general Australian Financial Services Licensee obligations, in particular the obligations to act efficiently, honestly and fairly and comply with any financial services laws;

·          legislation prohibiting misleading or deceptive conduct and benefiting from secret commissions;

·          contractual responsibilities which give rise to express or implied obligations to avoid conflicts of interest; and

·          the common law which imposes the obligation to avoid conflict of interest, for example, where is the existence of a fiduciary duty.

Policy Statement 181 sets out ASIC’s guidelines for Australian Financial Services Licensees for avoiding, managing and controlling conflicts of interest.

Managing Conflicts of Interest

We take our obligations in avoiding and managing any conflicts of interests seriously. In doing so, we look to:

·          identify, avoid or control the potential for conflicts of interest arising that relate to our business;

·          assess and evaluate these conflicts and their impact on our clients and our business;

·          set out a framework for implementing an appropriate response to those conflicts.

In pursuance of this goal we have addressed our commitment to avoiding and managing conflicts of interest in our conflicts of interest policy. The policy sets out our guidelines on how we will attempt to avoid conflicts of interest and, where a conflict arises, how we will manage and resolve a conflict of interest.

Australis Group Underwriting has also established a complaints handling procedure to deal with any complaints relating to conflicts of interest. If you require further information, please contact the Compliance Officer at Australis Group Underwriting on telephone +61 2 9200 4000 or at GPO Box 247, Sydney 2001.