Financial Services Guide

The Financial Services Guide (‘FSG’) is intended to inform you of certain basic matters relating to our relationship, prior to us providing you with a financial service.

Under the Financial Services Reform Act 2002, General Insurance is now considered a financial product. The matters covered by an FSG includes, who we are, how we can be contacted, who is our licensee, what services we are authorised to provide to you, how we and any other relevant parties are remunerated, details of any potential conflict of interest and details of our internal and external dispute resolution procedures and how you can access them.

Key information is set out in answer to the questions below. Should you require more information or clarification, please ask us.

This Financial Services Guide is issued with the authority of Lugarno Holdings Pty Ltd.

You should also be aware that you are entitled to receive a Statement of Advice whenever we provide you with any advice which takes into account your objectives, financial situation and needs. The Statement of Advice will contain the advice, the basis on which it is given and information about fees, commissions and associations which may have influenced the provision of the advice.

In the event we make a recommendation to acquire a particular financial product or offer to issue or arrange the issue of a financial product, we must also provide you with a Product Disclosure Statement containing information about the particular product which will enable you to make an informed decision in relation to the acquisition of that product.


Who is my adviser?
The financial services referred to in this financial services guide (FSG) are offered by:
Lugarno Holdings Pty Ltd (ABN 27 110 436 005) trading as Westralian Insurance (AFSL No. 331147)
Suite 13, 1 Irwin Road, Wangara WA 6065
Phone: (08) 9302 1388 Facsimile: (08) 9302 2552

Your adviser is Lugarno Holdings Pty Ltd of whom the principal, Jason Barnes is a director. Jason has completed his Tier 1 Insurance Broking qualification and has a Diploma of Financial Services through The Australian and New Zealand Institute of Insurance and Finance (now called ‘The Institute’). Jason is also a Senior Associate and a CIP (Certified Insurance Professional) of The Institute.

Who will be responsible for the advice given to me?
Lugarno Holdings Pty Ltd holds an Australian Financial Services License No. 331147 and is responsible for the advice provided by its representatives.

What advisory services are available to me?
General Insurance Services;
Premium Funding;

We provide financial product advice for the following financial products (please note these include but are not limited to the following products);
Business packages and trade packages;
Personal and domestic property insurance products;
Motor vehicle insurance products;
Home building insurance products;
Home contents insurance products;
Sickness and Accident products;
Travel insurance products;

We only recommend a product to you after considering its suitability for your specific needs, objectives and relevant financial circumstances.

How will I pay for the service?
Lugarno Holdings Pty Ltd offers the following range of payment options or a combination of them:‐
A fee paid by you to our representative invoiced through Lugarno Holdings Pty Ltd. This is referred to as ‘fee for service’ or ‘broker fee’; and/or commissions paid to our representative as a consequence of insurance products recommended. Such commissions are based upon the premium you pay in respect of the Financial Product acquired. When recommendations are made, you shall be provided with a separate document titled Statement of Advice, which shall contain specific details including the way our representative will be remunerated for the provision of advice.

Will anyone be paid for referring me to you?
If you have been referred to us, and if the referrer has a current referrer agreement in place with us, then yes we may pay in accordance with that agreement. In general terms, most of our referrers are accountants or others within the insurance industry. We will advise you in the Statement of Advice ‘SOA’ who will receive that fee or commission and the amount they will receive.

How are fees and commissions calculated and deducted?
Lugarno Holdings Pty Ltd’s (T/A Westralian Insurance) fees are based upon the time spent providing you with the advisory services you require.

The initial and renewal commission are calculated as a percentage of the annual cost of the insurance policy and will be based on the following formula:
X = Y% x P

In this formula:
X = the commission
Y% = the percentage commission paid to us by the insurer
P = the amount you pay for any insurance policy (less any government fees or charges in that amount).

Commissions vary from product to product and can range from 0% to 22.5% If we hold your money in trust pending payment to the insurer, we may receive the interest earned.

Premium Funding
Premium funding is available and provides you with the ability to pay premiums via installments. Interest is charged on the amount funded if this option is taken. We can arrange premium funding and if you choose this payment option we may be entitled to a commission of between 0% and 3% of the total amount funded.

Terms of payment
We will invoice you for the premium, statutory charges (e.g. Stamp Duty and GST etc) and any fees we charge for arranging your insurances. You must pay us within 14 days of the policy inception date or, in the case of a renewal, before the expiry date of the contract of insurance.

If you do not pay the premium on time, the insurer may cancel the contract of insurance and you will not be insured. The insurer may also charge a short term penalty premium for the time on risk.

From when does this FSG apply?
This FSG applies from 1st of January 2009 and remains valid unless a further FSG is issued to replace it. We may give you a supplementary FSG which will not replace this FSG but will cover services not already covered by this FSG.

Do you have any relationships or associations with the insurers who issue the policies or any other material relationships?
Westralian Insurance does not have any associations or relationships with a product issuer which might reasonably influence us in providing our services.

Other benefits
On occasions, our Account Managers may receive certain ‘benefits’ (such as bottles of wine, tickets to events, hampers etc). The receipt of these ‘gifts’ is not based on the amount of business placed with the provider, rather more of an ad hoc reward. The maximum value of these during the year is unable to be determined; however details of these are able to be viewed on a specially maintained register. Please ask your Account Manager should you wish to view this register.


Will I receive detailed information about actual commissions and other benefits my adviser gets from making the recommendations?

Yes. You have the right to know about details of commissions and other benefits your adviser receives for recommending investments. We will provide this information to you when we make specific recommendations.

Before you commit to accepting any recommendations made to you, you should read the Statement of Advice and/or Product Disclosure Statement (PDS). A Statement of Advice contains important and comprehensive information relating to the recommendations your adviser is making to you. If you have not been provided with these documents, please contact Westralian Insurance and they will endeavour to provide you with these documents.

Will you provide me with advice which is suited to my needs and circumstances?
Yes, but to do so we need to find out your specific needs and relevant financial situation, as well as make any other enquiries with you to enable to better service your needs before an informed product recommendation is made to you.

You have the right not to divulge this information to us, if you do not wish to do so. In these circumstances, we are required to warn you about the possible consequences of us not having your full personal information. You should read the warnings carefully, as this shall specify the scope of the financial product advice being sought.

Material changes
You must also notify your insurer of any significant changes which occur during the period of insurance. If you do not, your insurances may be inadequate to fully cover you, or you may void your insurance cover by breaching your duty of disclosure.

We can assist you with this, as well as ensure that your contract of insurance is altered to reflect those changes.

What should I know about any risks of the recommendations to me?
Our representative will explain to you any significant risks associated with the recommendations made to you, including the risk of not acting upon recommendations, within time frames specified.

If they do not, we recommend you ask them to explain those risks to you.

What information do you maintain in my file and am I able to examine my file?
Lugarno Holdings Pty Ltd will maintain a record of recommendations made and is committed to ensuring the privacy and security of your personal information in accordance with the principles of the Privacy Amendment (Privacy Sector) Act 2001 (Privacy Act).

You have the right to examine the relevant contents of your file. Please refer to our Privacy Statement, a copy of which is available to you upon request.

Should you wish to examine your file, please contact our Privacy Officer, Jason Barnes, on (08) 9302 1388 who will make the necessary arrangements to provide you with the relevant information.


Who should I speak to if I have a complaint about the advisory service?
We are committed to providing quality advice to our clients. This commitment extends to providing accessible complaint resolution mechanisms for our clients. If you have any complaints about the service provided to you, you should take the following steps:

Please contact Jason Barnes at Lugarno Holdings Pty Ltd T/A Westralian Insurance on (08) 9302 1388 or put your complaint in writing and send it to:
Westralian Insurance
PO Box 1724
Wangara WA 6974

We will endeavour to resolve your complaint quickly and fairly.

Westralian Insurance is a member of Insurance Brokers Disputes Limited (IBDL), which is an ASIC approved dispute resolution facility. If we cannot reach a satisfactory resolution, you have the right to refer the matter to IBDL. IBDL can be contacted on 1300 780 808, via email at or via post:
Level 10, 99 William Street
Melbourne VIC 3000.

Alternatively, you can contact the Australian Securities and Investment Commission on their freecall infoline, on 1300 780 885.

Cooling off Period
A cooling off period may apply to an insurance policy issued to you as a retail client. During the cooling off period you may return the policy and obtain a refund of premium. Details of your cooling off rights will be included in the relevant PDS.

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