Status of Financial Services Provider in terms of the FAIS Act
Cover Direct (Pty) Ltd is an authorised Financial Service Provider, FAIS License number: 46250. As an independent intermediary, we have agreements to provide you with advice and intermediary service in respect of the following product categories: Long Term Category A, Short Term Insurance: Personal & Commercial Lines, Long Term Insurance: Category B1
Confidentiality and Protection of Personal Information
All information provided by you is treated in terms of the strictest confidentiality. We will under no circumstances reveal this to any 3rd party without your written permission, unless we are obliged to do so in terms of law.
We are regularly audited by our Compliance Practice as well as the Financial Services Board. It may happen that your file is one of those which are audited to ensure compliance with prevailing legislation, and in this instance, your information will be made available to these persons. In turn, they are also bound by strict confidentiality restraints and ethics.
By Law we are required to maintain this information for a period of 5 years after the termination of our relationship with you as a minimum, however we prefer to keep our records permanently – and by accepting our services you agree to these terms and conditions.
The information which you provide to us will be processed by our internal staff as well as any product provider who may eventually receive your custom. The information will not be used for any purpose other than that for which it has been collected. All personal information is stored securely, with reasonable precautions taken to ensure that there is no breach of confidentiality.
Please ensure that you regularly keep us updated with your correct details.
Professional Indemnity and Fidelity Insurance
Our Firm holds professional indemnity insurance which means we are insured for claims arising from professional negligence, errors and omissions on the part of representatives, as well as for dishonesty.
Conflict of Interest
Our business is conducted with the highest ethics and integrity, and we understand that actual or perceived conflicts of interest may impact upon our relationship with you. To address this, we will avoid any such instance where possible, and if this is not possible, we will fully disclose such to you so as to place you in an informed position prior to the provision of any services. Should you require a copy of our conflict of interest policy or register, a copy is available from our offices.
In the past 12 months Cover Direct earned more than 30% of its income from Hollard whilst servicing other providers. Our KI is a KI on multiple FSP’s. We can confirm our independence in that we have no financial interest in any product supplier.
Complaints and Compliments Procedures
We welcome your feedback in an effort to continually improve our service to you, whether this be compliment or complaint. In the unfortunate situation where you have a complaint, please contact our offices. The complaints officer will assist you to address the concerns you have and will also provide you with a copy of our complaints policy and procedure. Please note that in terms of the FAIS Act, and to ensure we adequately understand the nature of your concern, all complaints must be addressed to us in writing.
Should we not be able to address the concerns to your satisfaction, you may wish to lodge a complaint with any of the Ombuds whose detail appear below, but in particular with the FAIS Ombud. To learn more about our complaints policy and procedure, or receive a copy of this, please refer to our website www.coverdirect.co.za
Receipt of this document
Where we provide you with a physical copy of this document, receipt will be confirmed in our correspondence with in our record of engagement. Remuneration
Representatives are remunerated in accordance with prevailing commission regulations, which are disclosed on documents such as quotes. Current commissions are usually 1% of premium but can go up to 3.5%.
Our Office Contact Particulars
Physical Address 158 Jan Smuts Ave, 1st Floor West Wing, Rosebank
Telephone No: 011 042 5501
Responsible Key Individual Contact Particulars
Physical address: 158 Jan Smuts, 1st Floor West Wing, Rosebank
Telephone No: 011 042 5520
Compliance Officer’s Details
Simply Comply (Pty) Ltd
- Julyan van Deventer, G. Booysen
Telephone No: 012 998 7938/40
Sussex Office Park Ground Floor, Block B
473 Lynnwood Road Cnr Lynnwood Road & Sussex Ave, Lynnwood, 0081
Telephone No: 0860 FAISOM (0860 324 766)
3rd Floor Sanclare Building
21 Dreyer Street Claremont
Telephone No: (021) 657 5000 Facsimile No: (021) 674 0951
Private Bag X 45, Claremont, 7735
Short Term Ombud
Tel. 011 726-8900 Fax. 011 726-5501
Share call: 0860 726 890
Sunnyside Office Park, 5th Floor, Building D, 32 Princess of Wales Terrace, Parktown
Postal Address: PO Box 32334 Braamfontein, 2012