CRM Brokers Pty Ltd
and Strata Managers
Strata Broking Services
CRM Brokers Pty Ltd - About Us
Strata Manager Relationship
Are you a Referrer, Distributor or Authorised
Representative?
Becoming a CRM Authorised
Representative - Benefits to Your Business
Specific benefits of becoming a CRM
Brokers authorised representative
Our Support role to you as a CRM Brokers
authorised representative
Summary of services provided
CRM’s Claims Risk Management
CRM Brokers Pty Ltd - About Us
CRM Brokers Pty Ltd is a registered Australian insurance broker.
CRM Brokers is primarily a commercial insurance broker specialising in structuring tailored insurance
for large corporate accounts. Both founding directors have in excess of 50 years combined experience
in insurance and senior personnel have many years experience managing major Australian clients.
CRM Brokers is a shareholder in Australia's largest autonomous Insurance Broker cluster Group. The
Group is Australia's largest independent insurance broker group comprising of 400 offices Australia
wide. Collectively they generate over $4.1 Billion in premium turnover per annum. The combined
buying power of the group ensures CRM has access to all insurance markets thus allowing them to
meet every client's needs irrespective of their size and insurance cover requirements on an extremely
competitive basis.
CRM Brokers has the expertise to service small to large organisations through the experience of
working with clients whose turnover is in excess of $750mill with employees nationally of 25,000.
CRM’s edge is its Claims Risk Management (CRM).
CRM will work closely with the Strata Manager and where required, the Executive Committee to ensure
the correct coverage is placed on behalf of the Owners Corporation.
Strata Manager Relationship
Our relationship with a Strata Manager can be formed in one of three ways:
REFERRAL BASIS: We understand that many Strata Managers would prefer their clients to be looked
after by one of CRM’s senior brokers, who will ensure they receive professional, courteous and efficient
advice as though it was coming from them. We will manage your client’s account on your behalf and in
return you will receive a referral commission (as negotiated). Any time in the future where you may
choose to take on a more “hands-on” approach, we would ease you into the role of Distributor or
Authorised Representative.
A Referrer cannot have its own insurance clients, process any invoices (its own or the Licensees), give
advice, collect premium, hand out a Policy Disclosure Statement (PDS) or promote insurance services.
If your business performs just one of these activities, then you’ll need to become either a Distributor or
an Authorised Representative.
DISTRIBUTOR: Here you’ll be appointed to deal in the general insurance products in a relationship
that exists between the Licensee (CRM Brokers) and the Distributor (Strata Manager) being one of
principal and agent. A general insurance Distributor is a type of representative that applies only for
those dealing in general insurance policies. A Distributor can arrange insurance but cannot provide any
advice; whether general or personal and must not provide Financial Product Advice on behalf of the
Licensee. This means that a Distributor can do things like issue invoices for insurance, collect the
premium and issue the policy schedule and wording.
The Licensee will maintain at its expense, during this agreement, professional indemnity insurance
covering the Distributor.
The appointment of the Distributor must be in writing – please ask this office for a copy of our Distributor
Agreement.
AUTHORISED REPRESENTATIVE: CRM Brokers will appoint you as an Authorised Representative of
ours. We effectively become your “in-house” Insurance Broker providing a more comprehensive form
of interaction. An Authorised Representative may give general or personal advice and may arrange and
deal in insurance policies, to the extent delegated. The Licensee (CRM Brokers) authorises the
Authorised Representative (Strata Manager) to provide financial services on its behalf, being “general
financial product advice only” however. The relationship that exists between the Licensee (CRM
Brokers) and the Authorised Representative (Strata Manager) is one of principal and agent. For a
person or entity that gives personal advice, the Authorised Representative is the only appointment
option.
If the Authorised Representative is acting for more than one licensee, it is necessary for each of the
licensees to consent to the other appointment.
The Authorised Representative must maintain at its expense, during and 7 years after the term of this
agreement, professional indemnity insurance.
The appointment of any Authorised Representative must be in writing – please ask this office for a copy
of our Authorised Representative Agreement.
Are you a Referrer, Distributor or Authorised Representative?
Questions to consider.
Category
Do you have
your own
insurance
clients?
Referrer
x
Distributor
Do you
Do you give
process any advice?
invoices (your
own or the
licensees)?
x
x
x
Do you collect Do you give
premium?
out a PDS?
x
x
Does your
business
promote
insurance
services?
x
Do you only
deal in 1
product?
x
x
Authorised
Representative
x
Becoming a CRM Authorised Representative - Benefits to Your
Business
CRM Authorised Representatives (AR’s) will have available to them the whole scope of an existing well
established insurance brokerage from day one. No unnecessary start-up costs or staffing requirements
when it comes to processing business or dealing with claims, we’ll do all that for you.
You will have “access” to every one of CRM’s Strata insurers (and other service providers) enabling you
to provide the most comprehensive submissions and review for your Strata clients. We have several
established initiatives to assist AR’s in managing their business and reducing time and expenses.
Education is paramount and our commitment to ongoing education is what sets us apart from others.
We arrange training seminars in order to ensure you can confidently provide solid professional
insurance-related advice within the scope of your authorisation.
Specific benefits of becoming a CRM Brokers authorised
representative
• Lowers overheads in managing your client’s insurance portfolio
• Expertise and support of an experienced organisation
• Strategic alliances with major insurance companies
• Access to a wide range of insurance products including all classes of General Insurance
• Hands-on claims management
• Staff training.
Our Support role to you as a CRM Brokers authorised representative
CRM Brokers‘ Insurance Broking Services
• Regular meetings and communication with Risk Management team
• Annual service and strategy review
• Provision of technical advice, reports and recommendations
• Policy comparison tools
• Agreement of the scope of services we provide and our service plan.
Insurance Broking and Placing
• Selecting insurers most suitable for risk
• Negotiating coverage and price with underwriters
• Review and comparison of terms
• Placing with agreed market
• Evaluating new exposures and adding coverage, as needed
• Handling mid-year coverage disruptions
• Maintaining insurer relations
• Prepare Broker recommendations
• Make sure you fully understand how and when premiums will be adjusted.
Specific Renewal Objectives
• Refined rate or premium targets
• Excess targets
• Coverage improvements
• Evaluate alternative coverage sources
• Improve insurer financial strength
• Present your client in the best possible way
• Provide data underwriters need to evaluate and price the risk
• Present loss and exposure data.
Policy Documentation
• Provision of certificates of currency, confirmation of insurance and policy documents
• Premium Allocation, Invoicing and Collection
• Day-to-Day Support to Client Operations.
Servicing
• Issuing certificates of currency and confirmation of insurance
• Verifying rates and premiums
• Checking policy wording and accuracy
• Answering coverage questions
• Attending meetings with you and your clients, or others (where required)
• Assisting with claims.
Broker Fee
Our fee is determined by an overall “size-of-book” basis. Key factors affecting this are:
• Complexity of account (in broking and managing)
• The need (both immediate and ongoing) of the Strata Manager
• The depth of advice required and given throughout the term of insurance
• The provision of Claims Risk Management services.
Subject to the services required by the Strata Manager, the Executive Committee and the Owners
Corporation, CRM will negotiate the a mutually agreeable split of fees to ensure the income you
continue to receive is commensurate with the work both parties perform. Our overall service should
ensure we reduce your costs whilst improving communication and claims efficiencies.
Summary of services provided
1. Market required insurance coverage.
2. Structure insurance programs to eliminate gaps or overlaps in coverage and provide the limits
and coverages requested by the Owners Corporation to the extent coverage and limits are
available.
3. Claims assistance.
4. Assistance with coverage questions.
5. Identify new coverage needs and exposures.
6. Develop underwriting information and assist in gathering and organising exposure and loss data
for renewals.
7. Recommend coverage changes and program adjustments.
8. Provide recommendations and advice on alternatives to insurance.
9. Assist with refinement of insurance policy wording to meet the Owners Corporation’s needs, as
necessary.
10. Review insurance policies, certificates and other documents to ensure all wording is complete
and accurate.
11. Service each policy issued to the Owners Corporation including processing all changes and
endorsements and verifying the accuracy of all invoices.
12. Maintain electronic records of the Strata Manager’s insurance transactions.
13. Be available for consultation with the Owners Corporation, as needed.
14. Provide early warning of rate and coverage changes or renewal problems.
CRM’s Claims Risk Management
As part of the services offered to the Owners Corporation and in conjunction with the insurance placed
through CRM’s Strata Management program, we incorporate our ‘Claims Risk Management’ system to
manage all claims. This service is provided as part of our program and the Owners Corporation does
not incur any additional costs.
However for an additional fee, we can also manage all below the deductible (excess) claims as well as
providing assistance with claims notifications and claims issues. CRM will also provide pro-active
hazard and risk identification upon request.
Some of the services that CRM will automatically provide as part of the placement, where applicable,
include:
• Provision of a professional claims report;
• Claims data entry;
• Management notification of every claim (where requested);
• Professional assessment of every claim within 24 hours (where required);
• On-going support and liaison with insurers;
• Close involvement and monitoring of Major Claims;
Additional services that CRM can provide for an additional fee include:• Expert third party contact followed by a further assessment;
• File management and monitoring;
• Professional recommendations;
• Claims management training;
• Site risk assessments and provision of a fully maintained risk register;
• Liaison with all key stakeholders.
For more information, please contact either Damien Coorey or Joseph Saad on 1300 880 494 or via
e-mail at [email protected].
CRM Brokers is a Corporate Supplier Member of Strata Community Australia (NSW). We are also
bound by the terms of the General Insurance Brokers' Code of Practice that is part of a national
self-regulatory scheme. CRM Brokers is a subscriber to the Financial Ombudsman Service (FOS), a
free customer service.
133 Alexander St
Crows Nest NSW 2065
G.05/25 Solent Circuit
Baulkham Hills NSW 2153
Level 8 / 350 Collins St
Melbourne Vic 3000
CRM Brokers Pty Ltd
ACN 088 887 138
ABN 68 088 887 138
AFS Licence 246622