Free fact finder · Australia
Insurance brokers' professional indemnity fact finder
Every question the insurance brokers' professional indemnity forms ask, asked once in plain English. Answer it once for your own renewal, or send it to a broker client.
- No login needed
- Fillable PDF with your logo
- 94 questions
- Written for AU rules
What it asks
The questions underwriters ask, in plain English.
Each one comes with a line saying why it's asked, so your client answers fully the first time.
- 1Does the firm hold, or has it ever held, a binder from an insurer?Acting under a binder makes the firm the insurer's agent, a different liability from broking.
- 2How much premium did the firm place with insurers in the last 12 months?Premium placed shows the size of the book the firm is answerable for.
- 3Has the firm ever placed, or does it plan to place, business with an insurer not authorised in Australia?If an unauthorised insurer fails or refuses to pay, the client may look to the broker.
- 4Does the firm ever sign proposal forms on a client's behalf?Signing for a client makes any mistake in the proposal yours.
- 5How do you supervise and check the work of your authorised representatives?Audits, file reviews and training records are what underwriters look for.
- 6Liability: roughly what percentage of the total premium you place?Long-tail classes lead to more and later claims against brokers.
The firm and its licence
Entity, people, AFSL, AFCA, NIBA or ANZIIF, and the network or cluster you belong to.
Income and premium
Three years of income, premium placed, and the split by state for stamp duty.
Services and classes
The share of income from broking, agency and underwriting, and of premium by class: property, liability, professional risks and more.
Authorities and placement
Binders, claims settlement authority, signing proposals, unauthorised foreign insurers and policy wordings.
Authorised representatives
How many, whether they hold their own cover, how they're supervised and whether the policy should cover them.
How it works
- 1
Open it and try it
Answer it on the page as your client would. Follow-up questions appear as you go. Nothing is saved.
No login
- 2
Send it, or download the PDF
Send your client a link to answer by form or chat, with reminders sent for you. Or download a fillable PDF with your logo.
PDF free, no email
- 3
Fill the insurers' forms
When your client answers, one click starts each insurer's form with their answers in, and drafts a needs summary for you to finish.
Free 14-day trial
Minimum cover
Who sets an insurance broker's minimum cover
Insurance brokers hold an AFSL or act for someone who does, and AFS licensees must hold adequate professional indemnity insurance. ASIC's RG 126 sets the minimum.
- AFS licensees (ASIC RG 126)
- With retail revenue of $2 million or less, a limit of at least $2 million for any one claim and in the aggregate. Above that, cover roughly equal to actual or expected retail revenue, up to $20 million. Authorised representatives' revenue counts.
- AFCA awards (ASIC RG 126)
- The policy must cover AFCA scheme awards, and fraud or dishonesty by the licensee's officers, employees and representatives.
A summary, not advice. Authorised representatives are usually covered by their licensee's policy. Check ASIC's current guide before setting a limit.
Free tool or a free trial
The fact finder is free. A trial does the forms.
Free, no login
Everything you need to use it.
- The whole fact finder, answered as your client would
- How much of each insurer's form it fills
- Fillable PDF with your firm's logo
With a 14-day free trial
Your client answers once. No card needed.
- Send it as a link: answered by form or chat, with reminders
- Upload a PDF your client filled in and the answers are read in
- Start each insurer's form with your client's answers in
- A first draft of the client's needs summary
- Next year, your client only confirms what changed
Before you ask
Questions about the insurance brokers fact finder.
- Can I use it for my own brokerage's renewal?
- Yes. Answer it once on the page, and your answers fill AIG's and Pacific Indemnity's brokers' forms in the Form Library. Or send it to a broker you insure.
- Is it really free?
- Yes. Answer it on the page and download it as a fillable PDF with your logo, with no login and no email. Sending it to a client as a link comes with a free 14-day trial.
- Which insurers' forms does it fill?
- Insurance brokers' professional indemnity forms from AIG and Pacific Indemnity. The page shows how much of each one it fills.
- Does it show the minimum limit?
- Yes, ASIC's RG 126 minimum for AFS licensees, with a link to the guide. It doesn't choose the limit: that's yours.
Ask once. Fill every form.
Open the fact finder, try it as your client and download the fillable PDF. No login needed.
Open the fact finder