Document background
The Insurance Broker Agreement serves as the foundational document for establishing and managing the professional relationship between licensed insurance brokers and their clients in New Zealand. This agreement is essential for compliance with New Zealand's regulatory framework, particularly the Financial Markets Conduct Act 2013 and Insurance Intermediaries Act 1994. It is typically used when a business engages an insurance broker to provide insurance placement, risk management, and advisory services. The document encompasses key elements such as scope of services, regulatory compliance requirements, remuneration structures, professional obligations, and liability provisions. It also addresses specific New Zealand regulatory requirements including dispute resolution scheme membership and disclosure obligations.
