FINANCIAL SERVICES REFORM ACT
New Transit and Storage Insurance Regulations.
As of the 11th March 2004, significant change and reform has been introduced to the way furniture removers can arrange transit and storage insurance for their customers. These changes are due to the implementation of the Financial Services Reform Act and as such are now LAW.
As of the 11th March 2004 it is illegal for any removalist to offer to arrange insurance, sell insurance or in any way provide insurance, without holding an Insurance License or being an Authorized Representative of a licenced Insurer.
THIS ACT HAS BEEN INVOKED FOR THE PROTECTION OF CONSUMERS
As an authorised representative (No. 259691) of Aldridge and Street, (AFSL 245658) a licensed insurance broker, Lo-Cost Removals can arrange both Transit and/or Storage Insurance for your removal.
We will provide you with our Product Disclosure Statement and Financial Services Guide prior to arranging any insurance you may require for your removal or relocation or storage and issue an Insurance Certificate before commencement of the relocation.
It is for your protection that you ask any removal company that may be preparing a quotation, that includes insurance, for you, to provide you with a copy of both their P.D.S. and F.S.G. along with their Companies Authorised Reprentatives Number, before entering into any contract.
ANY REMOVALIST NOT PROVIDING A P.D.S or F.S.G should be reported to:
Australian Furniture Removers Association
Ph: (02) 9659 5300
Australian Securities and Investments Commission
Ph: (03) 5177 3988