Presentation on theme: "AGENT OF THE FUTURE. The Financial Services Reform Act (FSRA) is now part of the Corporations Act and travel consultants are now required by law to be."— Presentation transcript:
AGENT OF THE FUTURE
The Financial Services Reform Act (FSRA) is now part of the Corporations Act and travel consultants are now required by law to be adequately trained in order to sell travel insurance. The Corporations Act applies to travel insurance provided by travel agents. The Corporations Act 2001 (the Act) applies to certain conduct (such as arranging and advising) in relation to financial products (which include contracts of insurance, such as travel insurance). Therefore, as travel insurance is considered to be a financial product, the arranging (selling) of travel insurance must be done in a specific way to ensure compliance with the law and to ensure customers are fully informed about their purchase decision. Persons who advise, arrange or deal in financial products (e.g. travel insurance) need to either obtain an AFS Licence themselves or be a representative of a licensee.
All Travel Agents MUST be registered in relation to any financial services they provide. If Agents are not registered, the agent is banned by law from providing/advising or selling travel insurance until such time as the nominated courses (following) have been undertaken:
Within this site there are four (4) training modules to assist the travel agent with knowledge and understanding on: PrivacyCode of PracticeProductFinancial Service Reform Act-Insurance Basics
Once these modules are completed the travel agents name and agency name are sent to ASIC for registration. Your students will also be presented with a Certificate of Completion. These certificates can then be printed out and placed in their resume to be utilised when they are seeking a job in the travel industry. These are ACTUAL compliance certificates and will be accepted by all the major insurance companies to prove completion of the industry training.
THIS WILL MAKE YOUR STUDENTS MORE VALUABLE TO ANY POTENTIAL EMPLOYER!!
To Access This Training: Each student will require their own username and password to access our website Please your students full names, dates of birth and drivers licence / passport number to ver.com.au You will then receive an from our office outlining each persons individual log-in details
Visit our website and enter your login details here:
...then click on FSR Compliance
The relevant information can be found in Steps 3a & 3b
An example of a Certificate of Completion
About Us... Aussietravelcover Pty. Ltd. specialises in worldwide travel insurance for Australian residents travelling internationally or domestically. We also provide travel insurance for non-residents of Australia travelling to and within Australia. Aussietravelcover Pty. Ltd. ABN , Authorised Representative Number was established in 1982 and is one of the largest providers of travel insurance in Australia. Aussietravelcover is a 100% Australian owned and operated family business. We are underwritten by Allianz Australia Insurance Limited ABN , AFSL Number Allianz holds a AA rating from Standards and Poors.