FAQS

The charges that make up your premium are collected by the AFS Licensee. Statutory charges such as Goods and Services Tax (GST), Stamp Duty (SD), Fire Service Levy (FSL) and Supplementary Levy are all forwarded to the Government.

Dynamic Insurance Services charge a fee. We practise full transparency and all relevant fees will be clearly presented on our invoices. Depending on the time taken to arrange and manage your insurance program, our fee will cover the cost of doing a risk assessment and insurance cost evaluation on your business, negotiating terms with the insurer, providing recommendations and advice on the various types of policies available, providing advice on risk management to reduce the likelihood of making a claim, making amendments to your insurance program, and if necessary, lodging and managing claims from start to settlement.

All quotes are free of charge and obligation.

Yes, your Account Manager can organise for you to pay monthly through a Premium Funding arrangement.

The premium funding company will pay your annual premium on your behalf. You then make your repayments in monthly instalments via direct debits, over a maximum of 10 months. This service can be practical for businesses looking to regulate their cash flow or avoid large lump-sum payments, and has the following benefits:

• Reduced financial stress
• Unrestricted capital
• Interest charges are tax deductible
• Easy process involving a simple, one-page application
• No deposit or security necessary
• Available for all business insurances
• Interest charges are the lowest available

Your payment options will be noted on your invoice. We accept:

• BPAY
• Credit card via the DEFT payment system, either online or over the phone
• Post Billpay at any Australia Post retail outlet
• Cheque.

If disaster strikes and you need to make a claim, please contact your Account Manager immediately, preferably within 24 hours so the insurer can be notified as soon as possible. In most cases, you’ll need to complete a claim form.

Some very important things to consider:

Malicious damage or stolen property: Report the loss to the police before you file a claim form. Write down the police report number when notifying your Account Manager or insurer.

Potential or known liability: Make sure you refrain from admitting liability. Do not make any offer of settlement as your right to claim under your insurance may be jeopardised.
We will take care of the rest. As your insurance advisers we will:

* Coordinate your claim proactively from start to finish, subject to your instructions
* Report all claims to insurers on your behalf, subject to your instructions
* Visit you following a major loss, whenever possible, to provide assistance and reassurance
* Ensure your claim is properly presented to the insurance company
* Communicate with loss adjusters on your behalf to minimise the time you need to spend on     claim resolution
* Monitor progress and keep you informed

Dynamic Insurance Services organise general insurance policies for our clients. We specialise in business insurance, which mainly protects a client’s property and assets.

We are not licensed to arrange life insurance policies. These policies can be arranged by a licensed financial planner/adviser.

Yes, absolutely.
Many clients approach us because they’re dissatisfied with their current business insurance, or have received poor treatment from their current insurance broker. We can always find a solution, and we are confident that you will find the service you are looking for with Dynamic.

Our business is built on relationships and our service sets us apart. . This is proven by our high referral and client retention rate. We work hard for our clients and we take an interest in the future of your business. Your trust is of great importance to us. We will be there to guide you as your business grows, and to help you back on your feet when you need to make a claim. We know your name and you can call us for anything you need. We always strive to return calls to clients as soon as we can.

Your insurance broker works for you, so you will be getting the best value for money insurance policies for your business. Approaching an insurer directly can result in you wasting money on a policy you don’t need, or worse, paying for the wrong cover or underinsuring your assets and putting your livelihood at risk.

We are also real people dealing with real people, not insurance companies dealing with policy numbers. We take the time to work out your exact needs and explain the complexities of your policy, so you always know what you’re getting and the fine print holds no surprises.

Like your taxation and legal affairs require accountants and lawyers, your business insurance affairs require the expertise of a qualified professional. Your insurance requirements are complex, and the consequences can be disastrous if they’re not overseen by a qualified insurance broker/adviser.

Finally, we save you money! Our buying power and the strength of our industry connections allow us to negotiate better premiums with insurers, so you may actually get a better price for your policy than you would by approaching the insurer directly for the same product.

We never set out with the goal of finding you the cheapest policy. The best value cover and the cheapest cover are not the same thing. Our approach is always to provide our clients with an appropriate level of cover for the best value, not necessarily the lowest cost. We do not ever want to be responsible for underinsuring you and putting your business at risk just to save you a little on your premium.

We always recommend that you consider the advice of your insurance broker/adviser before making a decision about what covers to take out. It’s worth remembering that with insurance, as with anything else, you get what you pay for!

Our job is to get you the best cover available for your business. We examine your policy from every angle – the price, the level of cover, the claims service of the insurer and the excess – to work out the best value for money on policies which are best suited to your business. We make sure you won’t need to pay for a product you don’t need.

An insurance broker/adviser represents their client/policy holder while an insurance agent represents the insurance company they work for.

Insurance Broker / Insurance Adviser:
An insurance broker/adviser can use the products of many different insurers and can offer several policies for their clients to consider. Brokers/advisers are also required to trade under a license, so they may have more experience or education on various insurance policies than an agent. They have the duty to assess the risks of a business and are responsible for securing appropriate and sufficient cover for the business of their clients.

Insurance Agent:
An insurance agent works for an insurance company, and has a completely different role than an insurance broker/adviser. Their job is to promote their company’s insurance products and they usually don’t have the responsibility to assess a client’s business or to ensure that their policies are appropriate. Agents are typically limited to only sell policies for the insurer they represent and work in the interest on an insurance company. Some agents may represent more than one insurer, and if they do, must be cross-endorsed to do so under ASIC regulation.

No. An insurance adviser and insurance broker are exactly the same. Some insurance brokers also call themselves insurance intermediaries.

An insurance adviser is the professional intermediary between a client and an isurer, working on behalf of the client. They assess the client’s insurance needs and have access to many different insurance products on the market to provide them with the appropriate covers to suit their business.

Insurance advisers are experienced and qualified professionals with product knowledge, negotiating skills, and contacts not readily available to those outside the insurance industry. They provide unbiased advice on insurance and risk management, and assist with claims for their clients.