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ARTICLE · 13 JANUARY 2023

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ASIC provides relief for Authorised Representatives providing insurance claims handling and services

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ASIC has granted relief from the requirement to provide a FSG to certain Authorised Representatives.

AustraliaFinance and Banking
Victoria Lombardo
Victoria Lombardo
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The Australian Securities and Investments Commission ("ASIC") has granted relief from the requirement to provide a Financial Services Guide (FSG) to certain Authorised Representatives.

The relief applies to Authorised Representatives who are authorised by an Australian Financial Services Licensee (Licensee) to provide both of the following services on behalf of the licensee:

  • deal in general insurance products and/or bundled consumer credit insurance products; and
  • provide claims handling and settling services.

Where the Authorised Representative is authorised to provide any other services, the relief will not apply.

What do Licensees need to do?

Licensees must ensure that their Authorised Representatives are taking reasonable steps to:

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