As your insurance broker, WKK Insurance Advisors may receive a commission from the insurer when we arrange or renew a retail insurance policy on your behalf. Under Australian law, we are required to obtain your informed consent before receiving this commission.
This page outlines what informed consent means, what you’re agreeing to, and how we manage this process in line with our legal and professional obligations.
What is Informed Consent?
Informed consent means we must ensure you understand how we are paid before arranging or renewing insurance for you.
When we recommend or arrange a retail insurance product and receive a commission, we must tell you:
- Who is paying the commission (the insurer)
- The rate of commission as a %
- How often the commission is paid
- What services we provide in return
This information helps you make an informed decision about whether you’re comfortable with how we are paid before proceeding.
Your consent will also apply to future renewals of these policies and is irrevocable, unless both you and WKK Insurance Advisors agree to vary it. If anything changes such as the insurer, the commission rate or the frequency of payment, we will obtain a new consent from you.
What services are covered by commission?
The commission covers services such as insurance advice, product placement, renewals, claims assistance and ongoing client support. More detail is available in our Terms of Engagement.
Common disclosures
We may receive commission from the following insurers for the products listed on this website. Commissions are expressed as a percentage of the premium and may vary by product.
When are commissions paid?
Commissions are generally paid annually, or monthly on a pro rata basis where the policy is paid in instalments.