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Terms of Engagement

From the date you proceed with a policy through Silverback Insurance Pty Ltd, we will assume responsibility for the following services until terminated by either party via written notification:

  1. Gathering necessary data.
  2. Identifying suitable markets.
  3. Assessing market responses.
  4. Creating a market comparison tailored to your needs.
  5. Recommending the most appropriate market.
  6. Binding coverage.

 How We Seek Quotes

As part of our engagement, we will explore the broader general insurance market to obtain quotes before making a recommendation. This approach ensures we find a solution that aligns with your specific requirements.

However, for specialist or niche insurance needs, it is important to note that our access may be limited to a select number of insurers and underwriters.

Payment Terms

When arranging payment for a policy, the following terms apply:

  • You will receive an invoice for the premium, statutory charges (e.g., stamp duty, fire services levy, etc.), and any fees associated with arranging your insurance.
  • Payment is required within 14 days of invoicing.
  • Failure to pay on time may result in the insurer canceling your policy, leaving you uninsured. Additionally, the insurer may charge a short-term penalty premium for the time on risk.

Payment can be made via the methods outlined in your invoice.

Your Policies

Once we have arranged cover for you it is important to note the following

Our Remuneration

As your trusted insurance provider, we require payment for the services we offer. This payment may include the following components:

Commission

The commission we receive from insurers varies depending on the market and the risk involved. If the account is provided on a NET of commission basis, we will charge a fee for our services.

Fees

Our fees are determined by the complexity of your account and the time and effort required to manage and support your risk portfolio. Any fees charged will be clearly listed as a separate line item on your invoice. Additionally, for accounts that are Gross of commission, we may charge an administration fee for our services in addition to the commission received.

Support

For assistance, you can reach us by completing the online submission form on our website at www.silverbackinsurance.au. Once we receive a complete submission, we will review it and contact you within 48 hours to discuss the next steps.

Our contact details are:
Phone: 0410 152 835
Email: [email protected]

Your Obligations

To ensure we provide the most suitable advice and coverage for your needs, it is essential that you provide complete and accurate information about the risks to be insured. Failure to do so may result in advice that is not appropriate for your circumstances or impact the insurer’s decision to offer coverage in the event of a claim.

You are also required to answer all questions from us and/or the insurer truthfully and honestly. If you fail to take reasonable care not to misrepresent information, the insurer may exercise their legal rights to cancel your policy, deny a claim, or reduce the amount payable.

Lastly, if your circumstances change, please notify us promptly. This allows us to ensure your insurance continues to meet your needs effectively.

Marketing and Electronic Communication

By opting in to engage our services to provide a quote or any other general information about insurance, whether it be through direct contact or through our various partners, you give Silverback Insurance Pty Ltd and it’s authorised agents permission to contact you through emails, texts including but not limited to all other forms of social media methods of communication, relating to products and services we provide and any other available services in our networks with the intention of informing you on options available to help your business growth and protected from risk.

Should you wish to not be contacted regarding marketing products and services, kindly email your express notice to: [email protected]