Cactus Insurance
Cactus (FSP574787) is a Financial Advice Provider that holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice services.

You can find us listed on the Financial Service Providers Register at fsp-register.companiesoffice.govt.nz.

The conditions of our licence allow us to provide the following financial advice services:

• General Insurance

Fire & General Insurance
Cactus works with you to determine what risks you wish to cover and provide quotes based on the levels of cover you wish to put in place. We will work with you to determine whether there are any particular risks you have that need to be specified during the application process.

Providers we work with
Cactus works with the following general insurance providers:

• 360 Underwriting Solutions (Underwriting for AIG Insurance NZ Ltd)
• AG Guard
• Agile Underwriting Services Pty Ltd
• AIG Insurance New Zealand Limited
• Allianz
• Ando Insurance Group Limited as Underwriting Agency for The Hollard Insurance Company Pty Limited
• Austinsure
• Biz Cover Ltd as underwriting agents for AIG Insurance Limited
• Bizcover as underwriting agency for DUAL New Zealand Limited
• Camper Care as Underwriting Agents for Vero Insurance (NZ) Ltd
• Certain underwriters at Lloyd’s led by Munich Re Syndicate Limited, Syndicate 457
• Certain underwriters at Lloyd’s (issued and managed by Ando Insurance Group Ltd).
• Certain Underwriters at Lloyd’s led by Westfield Specialty Managing Agency Ltd, Syndicate 1200
• Chubb Insurance New Zealand Limited
• Classic Cover
• Concordia Underwriting Agency
• Covermore Travel Insurance
• Delta Insurance New Zealand Limited as Coverholders of Lloyds
• Dual New Zealand Limited as Underwriting agents for Lloyds
• Emergence NZ Limited
• EventCover Insurance
• Insurance Facilitators Pty Ltd as Underwriting Agency of HDI Specialty SE – Australia
• Insurance Underwriters (NZ) Limited
• Market Lane Insurance Group (NZ) Ltd
• MECON Insurance Ltd
• Nautical Insurance Limited
• Nautilus Marine Underwriting Agency Limited t/a NM Insurance (Nautilus) as underwriting agent for AIG
• NZI, a division of IAG New Zealand Limited
• NZI/Lumley, business divisions of IAG New Zealand Limited
• Protecsure Pty Ltd as agents of Chubb Insurance Company of Australia Limited
• QBE Insurance (Australia) Limited
• Rosser Underwriting as Underwriting Agents of AIG Insurance New Zealand Limited
• Rosser Underwriting as Underwriting Agents of CHUBB Insurance New Zealand Limited
• SPUA – Southern Pacific Underwriting Agency Limited
• Star Insurance Specialist
• Star Underwriting Agents Ltd t/a Star Insurance Specialist
• Swann Insurance
• TAI
• TLC Insurance Limited Underwritten by AIG Insurance NZ Limited
• TLC Insurance Underwritten by Vero Liability
• UANZ
• Vero Insurance New Zealand Limited
• Vero Liability Insurance Limited
• Vero Marine
• Zurich Insurance Australian Limited t/a Zurich Auto

How we are paid
Cactus may be paid through a combination of Brokerage (Commission paid by the provider), Broker fees and Administration fees (paid through your policy charge).

How we manage conflicts of interest and put your interest first

We always put your interests first:

• We follow a documented process that puts our clients needs at the heart of the advice process
• We identify and disclose the maximum level of commission or fee’s we may get on the back of our recommendation
• If our recommendation involves replacing cover, we will provide a comparison of covers and explain what the recommended provider offers that your existing cover does not. We will also let you know if there is anything your existing provider covers that the recommended provider will not in the form of a research report.
• Cactus completes internal and external reviews of our advice process to ensure we follow a thorough review process that puts client interest first.

Our Duties
Under the Financial Markets Conduct Act 2013, it is the duty of Cactus Insurance and our advisers to:

• meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code of Conduct), which form part of the wider regulatory regime for financial advice and ensure we have the expertise necessary to provide you with advice; and
• give priority to your interests by taking all reasonable steps to ensure that the advice given to you is not materially influenced by our own interests or the interests of any other person connected with the giving of advice; and
• exercise care, diligence, and skill that a prudent person engaged in the occupation of giving related financial advice would in the same circumstances; and
• meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct, to treat you as we should and to provide you with suitable advice.

Use of Personal Information
Cactus Insurance Limited (FSP574787) collects, stores, uses, and discloses your personal information in accordance with the Privacy Act 2020 (as amended).

What we collect and why

To provide financial advice and manage your insurance, we may collect, use and share the following types of information:

• Contact and Identity Information: This includes your name, phone number, email address, residential address, date of birth, and identification details such as your passport or driver’s licence.
• Insurance and Financial Information: This may include your employment details, health information, claims history, criminal record, and billing or payment details.

Purpose of Collection:

We collect this information to assess your eligibility for insurance and financial products, administer and manage policies, process payments and claims, and comply with legal, regulatory, and audit requirements.

How we collect information

We collect personal information either directly from you or indirectly through third parties, including:

• Insurers, reinsurers, referral partners, and premium funders
• Your employer, financial advisers, or credit reporting agencies
• Publicly available sources and other parties you have authorised to share your information

Who we share it with

We may disclose your information to insurers, assessors, co-insureds, affiliated entities, technology service providers (such as CRM and secure cloud storage platforms) lawyers, and regulators.

We will retain your personal information for as long as necessary to provide you with Financial Services and to comply with our legal obligations (typically 7 years after our business relationship ends). Your information may be stored in secure cloud-based facilities which may be located outside of New Zealand. 

Your information will not be provided to any party outside of this authorisation without your consent.

Your Obligations

• You must have express authorisation before providing us with someone else’s personal information.
• Please notify us immediately of any changes to your information.
• The collection of this information is voluntary; however, if you choose not to provide it, we may be unable to process your application or provide the requested services.

What if something goes wrong
We value the ability of our clients to provide feedback about the service they have received as well as the opportunity to put it right when they are unhappy with any aspect of our service.

If you would like to raise concerns about the service you have received, we have an internal complaint process that we will follow when we receive your formal complaint.

Our internal process involves:

• Requesting your complaint in writing
• Acknowledging the receipt of your complaint within 2 working days of receiving it.
• Investigating your concerns by speaking with all the involved parties and reviewing all the documentation we hold on file.
• Providing a formal written response within 28 days of acknowledging your concerns.

If you would like to make a complaint, please email: feedback@hicactus.com

If you are unsatisfied with the outcome of our internal complaints process, you are able to escalate it to our dispute resolution scheme:

They are an independent dispute resolution service provider that helps resolve complaints about financial service providers, free of charge.