(This notice does not form part of the Insurance Contract or any other document)

As a short-term insurance policyholder, or prospective policyholder, you have the right to the following information:

Whilst we make every effort to ensure you fully understand the insurance product we have supplied there are certain facts we are obliged in terms of legislation to ensure that you not only know about but understand. The most notable being the Financial Advisory and Intermediaries Services Act (FAIS) and in the case of employers purchasing policies in their personal capacity the Policy Holder Protection Rules.

The most important objective of these obligations is to ensure you, our employer has full knowledge about the organisations involved in delivering the service to you as well as full understanding of the product you have purchased. Whilst every effort has been made to ensure we have achieved this objective if at any time you feel we have not provided you with information required or you do not understand the information we have given you, please ask us - do not assume! Whilst this information is important it does not form part of your actual policy wording.

So what is it that we need to tell you? Let us start by explaining some of the terminology you may have heard about or may encounter in your dealings with us:

Financial Service Provider
This is generally us, your insurance broker, sometimes referred to as an Intermediary.

Product Provider
This is your insurer

Underwriting Manager
They are appointed by a Product Provider (Insurer) to manage a specific type of product on their behalf. This is due to the specialist knowledge of the staff of Underwriting Manager and their ability to deliver a very focussed and cost effective service to ourselves as insurance brokers and ultimately you the employer.

Financial Advisory and Intermediary Services Act (FAIS)
This piece of legislation was introduced to ensure there are minimum standards set within the Financial services sector, to ensure you the employer receive the highest possible level of service and protection. It governs, amongst other things, the following:

  • 1. The financial stability of the Financial Service Provider,
  • 2. The Honesty and Integrity of the Financial Service Provider,
  • 3. The ability of the Financial Service Provider to look after the employer,
  • 4. The formal qualifications required by the key staff of any Financial Service Providers who give you advice,
  • 5. The methods and technical content of the advice given to you,
  • 6. The need for each Financial Service Provider to be licensed before they can give you advice,
  • 7. Standards for dealing with any complaint that you may have,
  • 8. Penalties for breaches of any of the regulations required in terms of the Act; these include fines, imprisonment and loss of the ability to carry on business,

Policy Holder Protection Rules
These require some additional duties to be adhered to by Insurers in respect of employers purchasing personal insurances. Where applicable to you these will be pointed out in this document.

The independent body created to further protect the employer and deal with any disputes between insurers and employers. There are currently two such Ombuds:

The Short Term Insurance Ombud deals with disputes on personal insurance matters e.g. Your personal motor or household insurances. The FAIS Ombud deals with all disputes for all types of employers that arise out of the provision of advice as dealt with by the FAIS Act.

Financial Services Board
The body that administers the FAIS Act and other legislation relevant to insurance.

The body that ultimately deals with all regulation with a specific category of insurance e.g. Short Term or Long Term So now You know some of the general background and the terms you may encounter, now for the specific information we need to supply you with:

About the Intermediary (Your Broker)
We are GM Financial Services cc.
The Company Registration number is: 2002/055972/23.

Our Physical Address:
734 Helena Street Discovery Roodepoort 1709

Our Postal Address:
PO Box 970 Florida Hills 1716

Legal status and any interest in the insurer

GM Financial Services does not have any direct financial interest in the Insurer and is not an associated company of any Insurer.

GM Financial services received more than 30% of its total commission from some Insurers.

FSB number and authorised products and conditions

We are a Authorized Financial Service Provider for Advice and Intermediary Services in Short Term , Commercial and Personal lines Our FSP Licence number 13628.

Whether or not in possession of Professional Indemnity Insurance.

We have Professional Indemnity Insurance.
Professional Indemnity Policy Number K/CB/02/2981
Underwritten by Arch Underwriting Managers at Lloyds (South Africa) (Pty) Ltd on behalf of Syndicate 2012

Compliance Officer:
Compliance Officer Associated Compliance (Pty)Ltd
Company Registration: 2012/087007/07
Practice No: 6377
Telephone No: 011 678 2533
Fax No: 011 678 7731
Contact Persons: Mr. B Thomas & Mr. R Veal

Details of how to institute a Complaint.
If something happens that may lead to a complaint about our services, staff or products sold please contact or notify us of the complaint in writing with full details thereof to:

Gerhard Marais
Telephone number: (011) 763 1556
Fax number: (011) 760 1362
Email address: gerhard@gmfs.co.za

Rand amount of fees and commission payable.

Broker Commission
This information is included in your guarantee premium invoice and is equal to 15% to 20% of the premium depending depending on the individual Insurer.
Other Fees (Consulting fees)
This information is included in your guarantee premium invoice.

Other Matters of Importance

We undertake:
To keep all information you tell us about yourself confidential,

Not to alter any documents you provide us with when submitting to any insurer. Where we feel an error has been made we will advise you prior to submission,

Never to take away any rights you have in terms of any legislation that governs the way we transact business, To supply a copy of any documents used in the preparation of your insurances, when required, free of charge.

Premiums payments
All premiums must be paid at inception or renewal date for the policy to be in force.
If the premium is paid by debit order:
It may only be in favour of one person and may not be transferred without your approval; and The Insurer must inform you at least 30 days before the cancellation thereof, in writing, of its intention to cancel such debit order.

If You have claim or are involved in an incident that could lead to a claim:
You must advise us immediately, preferably in writing. Your policy will contain conditions that relate to the early reporting of potential claims and it is important that you do not breach this responsibility.

Polygraph or any lie detector test is not obligatory in the event of a claim and the failure thereof may not be sole reason for repudiating a claim

If any of the information you gave us changes:
You must advise us immediately - policy cover, premiums and terms are based on what you told the insurer, we need to advise them of any changes that could affect their view of you and your policy.

Important Additional Information For All Our Employers
We make every effort to ensure that at all times we act in your best interest and in no way allow our own interest, potential or actual, to influence our objective performance and the delivery of unbiased and fair financial service to you.

Conflict of Interest Policy
Conflict of interest policy can be obtained if required from GM Financial service on 011 763 1556 or gerhard@gmfs.co.za

Do we own more than 10% of any insurer?
Do we own more than 10% or more of any Insurer? No

We Are Not In Possession of an IGF Guarantee as all premiums are paid directly to the insurers.

We have a mandate to represent the various insurers with whom we do business with and will only present terms to you where such an agreement is in place.


Do not sign any blank or partially completed application form. Complete all forms in ink. Keep all documents handed to you. Make note as to what is said to you. Don't be pressurised to buy the product. Incorrect or non-disclosure by you may impact on any claims arising from your contract of insurance.

Other Contact Details

Short term Ombudsman
Postal Address: PO Box 32334, Braamfontein, 2017
Telephone: 011 726 8900
Fax: 011 726 5501
E-Mail: info@insuranceombudsman.co.za
Web Site: www.osti.co.za

Registrar of Insurance

Company: Financial Services Board
Postal Address: PO Box 35655, Menlo Park, 0102
Telephone: 012 428 8000
Fax: 012 347 0221

FAIS Ombudsman
Postal Address: PO Box 74571,Lynwoodridge,0040
Telephone: 012 470 9080
Fax: 012 348 3447
E-Mail: reception@faisombud.co.za



By taking out this policy, you have agreed to share your personal information in certain ways. Below is the agreement that you have made.

  • 1. I acknowledge that the sharing of insurance information for underwriting and claims purposes (including credit information) between insurers is in the public interest as it enables insurers to underwrite policies and assess risks fairly and to reduce the incidence of fraudulent claims with a view to limiting premiums.
  • 2. I waive my right to privacy with regard to underwriting or claims information (including credit information) that I provide or that is provided by another person on my behalf in respect of any insurance policy or claim made or lodged by me. This is on my own behalf as well as on behalf of any person I represent in terms of this insurance policy.
  • 3. I acknowledge that the insurance information provided by me may be stored in the shared database and used as set out above as well as for any decision pertaining to the continuance of my policy or the meeting of any claim I may submit.
  • 4. I consent to such information being disclosed to any other insurance company or its agent.
  • 5. I acknowledge that the information may be verified against legally recognized sources or database.