Our Terms & Conditions
Terms and Conditions as at 29.05.2023
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Terms and Conditions
It is very important that you read these terms and conditions as they set out the arrangements between us.
Duty of Disclosure Notice
Before you enter into an insurance contract you have a duty to tell the insurer anything that you know, or could reasonably be expected to know, may affect its decision to insure you and on what terms.
You have this duty until the insurer agrees to insure you.
You have the same duty before you renew, extend, vary or reinstate an insurance contract.
You do not need to tell the insurer anything that:
- reduces the risk it insures you for;
- is of common knowledge;
- it knows or should know as an insurer; or
- it waives your duty to tell it about.
If you do not tell the insurer something
If you do not tell the insurer anything you are required to, it may cancel your insurance contract or reduce the amount it will pay you if you make a claim, or both.
If your failure to tell the insurer is fraudulent, it may refuse to pay a claim and treat the contract as if it never existed.
Personal Accident & Illness Insurance – Duty of Disclosure (Not to Misrepresent)
Before entering into a consumer insurance contract, you have a duty to take reasonable care not to make a misrepresentation to the insurer to enable it to determine whether to insure you and, if so, on what terms. You have this duty until the insurer agrees to insure you. You have the same duty before you renew, extend, vary or reinstate an insurance contract. Personal Accident insurance and Personal Accident and Illness insurance are the only types of consumer insurance contracts available for purchase through BizCover.
If you make a misrepresentation to the Insurer
If you make a misrepresentation to the insurer and it is determined you failed to take reasonable care not to do so, the insurer may cancel your insurance contract or reduce the amount it will pay you if you make a claim, or both. If it is determined that your misrepresentation to the insurer was fraudulent, it may refuse to pay a claim and treat the contract as if it never existed.
Claims Made & Notified Policy Notice – Relevant if you purchase a Professional indemnity, Cyber liability, IT liability or Management Liability Insurance policy or where otherwise noted in the policy wording.
The proposed insurance is issued on a ‘claims made and notified’ basis as specified in the policy wording. This means that the policy responds to claims first made against the insured during the policy period and notified to the insurer during that policy period. Refer to the policy wording for full details.
Under Section 40(3) of the Insurance Contracts Act 1984 (Cth) if the insured gives notice in writing to the insurer of facts that might give rise to a claim against the insured as soon as reasonably practicable after the insured became aware of those facts but before the insurance cover provided by the policy expires, the insurer is not relieved of liability under the policy in respect of the claim, when made, by reason only that it was made after the expiration of the period of the insurance cover provided by the policy.
If during the policy period you become aware of circumstances which a reasonable person in your position would consider may give rise to a claim, and which you fail to notify to the insurer during the policy period, the insurer may not cover you under the policy or a subsequent policy for any claim which arises from these circumstances.
When completing the application, and at subsequent renewals, you are obliged to report and provide full details of all circumstances of which you are aware and which a reasonable person in your position would consider may give rise to a claim.
It is important that you make proper disclosure (see Duty of Disclosure Notice, above) so that your cover under any policy is not compromised.
The proposed insurance may be limited by a retroactive date either stated in the schedule or endorsed onto the policy. Where the cover provided by the proposed policy is subject to such a retroactive date, then the policy does not cover any claim arising from an actual or alleged act, error, omission or conduct occurring prior to such retroactive date.
In effecting this insurance BizCover Pty Ltd (ABN 68 127 707 975; AFSL 501769) will be acting under an authority given to it by the insurer and will be effecting the contract as agent of the insurer and not the insured.
General Advice Warning
We do not recommend an insurance policy for you, we only offer the policies available to us from the insurers listed on our website. Any advice provided is General Advice only.
General Advice is advice that has been prepared without considering your current objectives, financial situation or needs.
Therefore, before acting on this advice, you should consider the appropriateness of the advice having regard to your current objectives, financial situation or needs. If the advice provided relates to the acquisition or possible acquisition of a new insurance policy you should read the Product Disclosure Statement and/ or Policy Wording (available on our website) before making any decision about whether to acquire such a financial product.
Renewing the Policy (including Auto-Renewal)
We will send you notification of whether the insurer is prepared to negotiate to renew the policy and if so, on what terms, at least 21 days before the expiry date of your policy.
Unless we require a new proposal or declaration from you to determine your premium or decide to offer renewal (we will tell you by email if this is the case), the renewal notice will show the premium for the new period of insurance and may also include notice of any changes to the terms of your policy.
If you wish to take up such a renewal offer and you are happy the information is accurate and you have no further disclosure to make to insurers under your duty of disclosure (see Duty of Disclosure Notice, above), you will not have to do anything and if we do not hear from you 7 days before the expiry of your current period of insurance we will automatically deduct / charge the renewal premium from your account / credit or debit card. If you do not wish to take up the renewal offer you must contact us before we deduct this payment which will be within the week before your policy expires.
When you receive a renewal offer, you must tell us before expiry if the information contained in it is incorrect or incomplete and make such additional disclosure to us as is required pursuant to your duty of disclosure. We will then consider the additional information and whether and on what terms we are able to arrange for policy renewal.
If we are not able to automatically renew your policy we will send you an email notification for you to either complete your renewal online or to contact us. Please ensure you keep us updated of any change to your email address.
Commission and Fees
For each insurance product the insurer will charge you a premium. We receive from the insurer a commission that is a percentage of this premium, varying between 0% and 30%.
We also charge per policy a platform fee of $20 to $200 (ex. GST) for the policies we arrange. This fee relates to the delivery of the service from BizCover to you including but not limited to the provision and maintenance of the technology platform and the services provided by BizCover’s consulting and administrative personnel. It is calculated based on factors including the work involved, the nature of your business and the product selected.
If you elect to pay your premium by monthly instalments, we will also charge you an instalment administration charge of $8 per month (ex. GST).
If you pay by credit or debit card we may charge you a card (including arrangement & handling) fee. This fee covers the cost of bank charges etc. associated with such facilities.
All fees payable for services will be advised to you separately from your premium on the invoices we provide.
You have the right to cancel your policy at any time by providing written notice to us. Upon receipt of your cancellation request, the policy cancellation will take effect on the day the request is made or on a future date. It is important to note that the cancellation date cannot be retrospective, except within the cooling-off period, if applicable.
The insurer may cancel your policy in accordance with the Insurance Contracts Act, 1984 (Cth).
BizCover Remuneration Rights on Policy Cancellation
The premium you pay for your insurance policy includes a commission payable to BizCover for arranging your insurance policy (Commission). On cancellation BizCover may be required to repay to the insurer or to you a part or all of the Commission (Repaid Commission). If this occurs, BizCover may deduct an amount equal to the Repaid Commission from the premium refund received by BizCover on your behalf and refund the balance to you. No further amount is payable to you in respect of the insurance policy cancellation unless the cancellation takes place within any applicable cooling off period.
The agreement under this clause is between you and BizCover and not between you and the insurer. BizCover acts on its own behalf when deducting the payment due to it under this clause and not on behalf of any insurer.
Privacy Collection Notice
We generally collect personal information from you or through service providers that act for us. However, there may be occasions when we collect it from someone else where they hold relevant information.
You may choose not to give us your personal information, but this may affect our ability to provide you with a product or service, including arranging a quote for insurance or an insurance policy for you, communicate with you or respond to your enquiries.
By mail: By email:
Privacy Officer firstname.lastname@example.org
BizCover Pty Ltd
Level 2, 338 Pitt Street, Sydney NSW 2000
We have complaint handling and internal dispute resolution procedures in place. This service is available to you free of charge. Clients who are not satisfied with our services may contact our Customer Resolution Officer on 1300 249 268 or email@example.com to raise any concerns they have. We will respond to your complaint within fifteen (15) working days and if you are not satisfied with our answer and request us to do so, we will treat your complaint as a dispute. The matter will then be referred to our internal disputes resolution officer and they will respond to you within fifteen (15) working days. If you are still not happy with the outcome you may be able to have your matter considered by the Australian Financial Complaints Authority (AFCA). AFCA provides a free and independent dispute resolution service for consumers who have general insurance disputes falling within its terms of reference.
Determinations of AFCA are binding on us but are not binding on you. Contact details for AFCA are:
Phone: 1800 931 678
Post: GPO Box 3, Melbourne VIC 3001
Disclosure relating to Hollard International BV
Hollard International BV is a shareholder in BizCover and via a related party, The Hollard Insurance Company Pty Limited, sells (non-retail) insurance policies through the brand RelyOn via the BizCover platform.