Role of MIMAL: Macquarie Investment Management Asia Limited (“MIMAL”), AFS License Number 284621, provides prospective purchasers of insurance and their broker(s) access to the Macquarie Insurance Facility (“MIF”) and its panel of insurers. The broker(s) and insurer(s) will work to provide competitive quotes to you. MIMAL itself is not an insurer or broker, and its work on your behalf does not displace the responsibilities of your broker; MIMAL does not underwrite any of the insurance policies; MIMAL does not undertake responsibility for preparing submissions, requesting quotes, collecting and paying premium taxes or fees and binding risks. MIMAL also undertakes no responsibility for advising on whether the insurance coverage purchased is appropriate for the insured’s needs or represents the best terms and conditions available.
Compensation. MIMAL (or an affiliate of Macquarie for or on behalf of MIMAL) may be entitled to receive a fee of up to 5% of the premium in relation to the insurance policies sold or renewed by a MIF panel insurer, where MIMAL has provided introductory services. MIMAL (or an affiliate of Macquarie for or on behalf of MIMAL) may receive this fee either directly from the insurer or indirectly via the broker.
In addition, MIMAL may provide various services to brokers in consideration for which a broker may pay a fee. These services may include introductions, data management and reporting.
MIF may also earn a fee in relation to property risks placed through Macquarie Infrastructure Reinsurance Company (MIRC) subject to meeting certain criteria.
More information regarding the extent and nature of the fee expected to be received by MIMAL (or an affiliate of Macquarie for or on behalf of MIMAL) can be obtained upon request by contacting any member of MIMAL’s MIF team.