Blanket Limited Disclosure

About Blanket Limited (Blanket)
Blanket, FSP676611 is a Financial Advice Provider that holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice services.

You can find us listed on the Financial Service Providers Register at fsp-register.companiesoffice.govt.nz.

Blanket works with New Zealand’s top financial advisers and insurance providers to bring you the best service and general insurance products available.

The conditions of our licence allow us to provide financial advice services relating to our specialist area of General Insurance only.

General Insurance (House, Car & Contents)
Blanket works exclusively with Ando Insurance to provide house, car & contents insurance through the Blanket digital application process. Ando is the only general insurance product provider available through the Blanket platform and there are no upfront fees charged to the client.

How we are paid
Blanket is paid an administration fee for each policy that is put in place through the Blanket digital platform. This is included in the premium charged. Blanket also receives commission from Ando for any house, car or contents policy put in place through the Blanket digital application process.

How we manage conflicts of interest and put your interest first

We always put your interests first:

  • We follow a documented process that puts our clients’ needs at the heart of the advice process
  • We identify and disclose the maximum level of commission or fees we may get on the back of our recommendation
  • If dealing directly with a Blanket employee, and our recommendation involves replacing cover, we will provide a comparison of covers and explain what the recommended provider offers that your existing cover does not. We will also let you know if there is anything your existing provider covers that the recommended provider will not in the form of a research report.
  • Blanket completes internal and external reviews of our advice process to ensure we follow a thorough review process that puts client interest first.

Our Duties
Under the Financial Markets Conduct Act 2013, it is the duty of Blanket and our advisers to:

  • meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code of Conduct), which form part of the wider regulatory regime for financial advice and ensure we have the expertise necessary to provide you with advice; and
  • give priority to your interests by taking all reasonable steps to ensure that the advice given to you is not materially influenced by our own interests or the interests of any other person connected with the giving of advice; and
  • exercise care, diligence, and skill that a prudent person engaged in the occupation of giving related financial advice would in the same circumstances; and
  • meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct, to treat you as we should and to provide you with suitable advice

What if something goes wrong
We value the ability of our clients to provide feedback about the service they have received as well as the opportunity to put it right when they are unhappy with any aspect of our service.

If you would like to raise concerns about the service you have received, we have an internal complaint process that we will follow when we receive your formal complaint.

Our internal process involves:

  1. Requesting your complaint in writing
  2. Acknowledging the receipt of your complaint within 2 working days of receiving it
  3. Investigating your concerns by speaking with all the involved parties and reviewing all the documentation we hold on file
  4. Providing a formal written response within 28 days of acknowledging your concerns

If you would like to make a complaint, please email: feedback@blanket.co.nz

If you are unsatisfied with the outcome of our internal complaints process, you are able to escalate it to our dispute resolution scheme:

Scheme: Financial Dispute Resolution Service (FDRS)
Address: Freepost 231075
Wellington 6140
PO Box 2272
Telephone number: 0508 337 337
Email address: enquiries@fdrs.org.nz

They are an independent dispute resolution service provider that helps resolve complaints about financial service providers, free of charge.