COMBINED FINANCIAL SERVICES GUIDE AND PRODUCT DISCLOSURE STATEMENT

This Combined Financial Services Guide (FSG) and Product Disclosure Statement (PDS) was prepared on 3rd November 2017.

General Advice Warning

The information in this document is of a general nature and has been prepared without taking into account Your particular needs, circumstances and objectives. You should read this document carefully to ensure that the product meets Your needs.  It is important that You understand the extent of the cover provided and its limitations.

PRODUCT DISCLOSURE STATEMENT

This Product Disclosure Statement (PDS) is designed to help You understand what You need to know about the Virgin Mobile insurance policy.  It sets out the significant benefits, features and characteristics of the cover and will assist You to compare and make an informed decision about whether to take out the insurance.

This PDS and Your Virgin Mobile monthly invoice and any other relevant document We tell You forms part of the policy set out the full terms and conditions of Your cover.

Insurance Details

The policy is issued by The Hollard Insurance Company Pty Ltd ABN 78 090 584 473 (Hollard) AFSL 241436 of Level 12, 465 Victoria Avenue, Chatswood, NSW 2067 through its agent Risk Insure Pty Ltd ABN 23 090 918 399 (Risk Insure) AFSL 230163, of PO Box 7087 Hutt Street, Adelaide SA 5000.

Hollard has granted Risk Insure a binder to act as its agent to arrange for the issue, variation or disposal of the Virgin Mobile insurance policy and to issue, vary or dispose of the policy as if it were Hollard.

Cost

The premium for Your Virgin Mobile insurance policy per Mobile Phone or BYO Mobile Phone is $13.00 each month inclusive of GST and any amounts payable in respect of government taxes, charges and levies. The premium will be included on Your Virgin Mobile monthly invoice, which also includes the Insurance Schedule, confirmation of transaction and offer to renew for the upcoming month. Your Virgin Mobile monthly invoice is provided to You each month for the renewal of Your policy.  The premium provides You with one month of insurance cover unless otherwise agreed by Hollard.

For information on remuneration that Virgin Mobile and Risk Insure may receive in relation to the policy see "How are we paid?" in the FSG section of this document.

Commencement and Renewal

The policy commences on the earlier of the date We accept Your request for cover or the Premium Due Date shown on Your Virgin Mobile monthly invoice (as applicable) and expires at midnight on  the day prior to the next Premium Due Date. Each month on the expiry of Your cover We will automatically renew the policy for a further month from the next Premium Due Date unless We tell You otherwise, the policy has otherwise ended or You ask Us not to renew the policy.

Optional Cover

The cover available under the policy is not compulsory and insurance can be arranged with an insurer of Your choice.

Policy Wording

Where a policy is issued, cover is provided in accordance with the following terms, conditions, limits and exclusions:

1. Definitions

“Agreement” means Your ongoing service agreement with Virgin Mobile.

“Association” means the Usage of Your contracted Policy Number together with Your insured devices IMEI (serial number).

“BYO Mobile Phone” means any Mobile Phone (including a replacement device) which has an IMEI (serial number) and mobile number in use with Your Usual SIM which is registered and has shown Association on the Virgin Mobile network in Your name, on Your monthly Virgin Mobile account. The BYO Mobile Phone must:

  • be in perfect working and physical condition;
  • be subject to a Virgin Mobile 12 Month SIM plan; and
  • have an original receipt of purchase that falls within the specified time limit as detailed on https://www.virginmobile.com.au/mobile-phone-insurance/ (or otherwise available from Us upon request free of charge), when insured.

“Excess” means the amount of each claim that the policy does not cover and which You must pay or bear.

“Insurance Schedule” means the details of the insured, premium, Policy Number and Premium Due Date included within Your Virgin Mobile monthly invoice.

“Mobile Phone” means a GSM, 3G or 4G Mobile Phone hardware comprising the handset, battery charger and any phone accessories.

“Period of Insurance” means a period of one (1) month from the Premium Due Date shown on the Virgin Mobile monthly invoice, or such shorter period where the policy starts or ends earlier in accordance with its terms and conditions.

“Policy Number” is Your Mobile Phone or BYO Mobile Phone telephone number.

“Premium Due Date” is your monthly bill due date shown on your Virgin Mobile invoice.

“Refurbished” means a Mobile Phone that has been returned to the manufacturer, quality tested and restored to full functioning factory standard condition.

“Unattended” means without attendance, not accompanied, not cared for or ministered to, or not watched over.

“Unsecured” means a situation where You do not have possession or control over the Mobile Phone or BYO Mobile Phone and where, as a result, it is exposed to and not reasonably protected from loss, theft or damage.

“Usage” means all activity including, but not limited to calls, texts and internet activity shown in Association with Your Policy Number together with Your Usual SIM shown on as per Your Insurance Schedule.

“Usual SIM” means the card installed or inserted into the Mobile Phone or BYO Mobile Phone containing all subscriber-related data that is linked to Your Policy Number in Association with Your Agreement which is shown on Your Insurance Schedule.

“Virgin Mobile” means Virgin Mobile (Australia) Pty Limited ABN 67 092 726 442.

“We” “Our” “Us” means The Hollard Insurance Company Pty Ltd and Risk Insure Pty Ltd acting as agent of Hollard.

“You” “Your” means the insured person or organisation.

2. Coverage

  1. In the event that the Mobile Phone or BYO Mobile Phone is stolen, lost or damaged anywhere in the world during the Period of Insurance, We will at Our option repair the Mobile Phone or BYO Mobile Phone, replace it with the closest equivalent model (new or Refurbished) or make a cash payment to You equivalent to the cost to Us of repairing or replacing the Mobile Phone or BYO Mobile Phone.
  2. The maximum amount We will pay for any claim is $5,000 (inclusive of GST) less any applicable Excess.
  3. We will only cover one claim for theft, loss or damage that occurs during the Period of Insurance.
  4. We will cover You for up to two (2) events in a twelve (12) month period after which no cover is provided and the policy automatically comes to an end.
  5. Where Your Mobile Phone or BYO Mobile Phone is, at the time of a claim under the policy, a discontinued model the applicable recommended retail price used for determining the amount payable and Excess which applies in relation to a claim will be the last recommended retail price recorded by Risk Insure for the relevant device prior to its discontinuance of sale in retail stores.
  6. Your Excess is as follows:
    • $125 for repair
    • $200 for replacement
    • $75 if your Mobile Phone or BYO Mobile Phone is repaired or replaced with a Mobile Phone with a recommended retail price of less than $200.

3. Additional Benefits

  1. If You have a valid claim We will also pay (subject to the maximum amount of coverage noted above):
    1. up to $1,250 (inclusive of GST) per theft or loss claim for unauthorised calls made from the Mobile Phone or BYO Mobile Phone during the period the Mobile Phone or BYO Mobile Phone  is stolen or lost;
    2. up to $500 (inclusive of GST) per claim for hiring an equivalent temporary replacement Mobile Phone if the Mobile Phone or BYO Mobile Phone is stolen, lost or damaged outside Australia.
  2. If, during the Period of Insurance, You become unable to earn any income for a period of more than 2 consecutive weeks due to Your personal illness or personal injury, We will re-pay to You the amounts that You have paid to Virgin Mobile to maintain the ongoing minimum monthly charges and monthly access fees which were due under the terms of Your fixed term contract Agreement excluding any extra costs relating to phone calls, SMS, data and Usage.  We will pay this for as long as You remain unable to earn income, up to a total of $500. This cover is deleted from subsequent renewals of this policy for the same original event.  The purpose of this additional benefit is to help You pay Your minimum monthly charges and monthly access fee (up to the sublimit specified and subject to the policy terms and conditions) in the event that You are not earning any income due to personal illness or injury e.g. if You were unable to work because You suffered serious spinal injuries.
  3. If the Mobile Phone or BYO Mobile Phone is no longer under warranty the policy will provide cover for breakdown occurring during the Period of Insurance.  The $5,000 limit on theft, loss or damage claims applies to this additional benefit.  For example, if You made a claim under this additional benefit and for damage the most We would cover is $5,000 even if Your loss was $4,000 for damage and $2,000 for breakdown.

No Excess applies to each of these Additional Benefits listed above.

4. Exclusions

We do not provide You with any cover under the policy for any event or claim directly or indirectly caused by, contributed to, resulting from, or where:

  1. We have already paid a claim for theft, loss of, or damage to Your Mobile Phone or BYO Mobile Phone which occurred during same Period of Insurance;
  2. the loss of, theft or damage to Your Mobile Phone or BYO Mobile Phone when You have left it knowingly Unsecured and/or knowingly Unattended  in a public place or a place to which the public had access at the time of the incident (including and not limited to Your workplace);
  3. the theft, or damage as a result of an attempted theft, of Your Mobile Phone or BYO Mobile Phone from any unlocked vehicle, water borne vessel or private residence unless at the time of the theft or attempted theft:
    1. You are in the vehicle, water borne vessel or private residence; or
    2. the Mobile Phone or BYO Mobile Phone was out of sight and there is clear evidence of forcible and violent entry to the vehicle, water borne vessel or private residence;
  4. the loss of, or damage to, the Mobile Phone or BYO Mobile Phone is a result of wear and tear, depreciation, or gradual deterioration as a result of ordinary use or operation;
  5. the loss results from any electronic or software virus;
  6. the loss results from damage by fire;
  7. You have not taken all reasonable precautions to prevent theft, loss or damage to the Mobile Phone or BYO Mobile Phone;
  8. You can claim reimbursement or compensation for the theft, loss or damage from any manufacturer, supplier or other person;
  9. Your declaration of loss, theft or damage cannot be reasonably proven;
  10. You have intentionally damaged or allowed the Mobile Phone or BYO Mobile Phone to be damaged;
  11. the Mobile Phone or BYO Mobile Phone does not contain Your Usual Virgin SIM card at the time of the loss, theft or damage;
  12. there has been no Association or Usage on Your contracted Virgin Mobile Australia Agreement.
  13. You or someone acting for You, makes a claim knowing or suspecting the claim to be fraudulent. You are required to be truthful in relation to the policy;
  14. loss, theft or damage as a result of:
    1. war, invasion, acts of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power, confiscation, nationalisation requisition, or destruction of, or damage to property by or under the order of any government, public, or local authority or looting, sacking, or pillage following any of the above; or
    2. nuclear weapons material or ionizing radiation, contamination, radioactivity from any nuclear fuel or nuclear waste, or from the combustion of nuclear fuel or nuclear waste, or from any self-sustaining process of nuclear fission.

5. Claims Procedure and conditions

If You want to commence a claim under the policy please call Virgin Mobile on 1300 555 100.

If Your claim involves the theft or loss of Your Mobile Phone or BYO Mobile Phone, You must without delay, upon becoming aware of the theft or loss, instruct Virgin Mobile to immediately suspend the use of Your Usual SIM and the IMEI number of the Mobile Phone or BYO Mobile Phone and report the theft or loss to the police within 48 hours. The claim will not be approved unless the IMEI number is blocked and police report number is supplied. Where the theft or loss arises from a crime, We may require You to supply a hard copy of the police report (at your expense).

It is a condition of Our liability under the policy that when any event occurs which may give rise to a claim under the policy, Your Mobile Phone or BYO Mobile Phone must be repaired or replaced by Us.

We own any insured Mobile Phone or BYO Mobile Phone We have replaced where We settle Your claim.

Upon settlement of a claim for an insured Mobile Phone or BYO Mobile Phone under the policy (except when We repair Your Mobile Phone or BYO Mobile Phone) You agree that all rights, title and ownership of that claimed Mobile Phone or BYO Mobile Phone will pass to Us. You agree that You will have no further rights or interest in that Mobile Phone or BYO Mobile Phone in respect of which the claim was made.

Contribution from other insurers

If, at the time Your Mobile Phone or BYO Mobile Phone is lost, stolen or damaged and which is the subject of a claim under the policy, there exists any other insurance pursuant to which You would be entitled to seek indemnity, You must notify Us immediately of its existence and provide to Us a copy of the relevant policy documents.

No indemnity will be provided under the policy if You have already been indemnified for Your loss for the Mobile Phone or BYO Mobile Phone from another source.

6. When the policy will automatically come to an end

The policy cover will automatically end with no notice to You at the earlier of the time:

  • Your Virgin Mobile Agreement for Your insured Mobile Phone or BYO Mobile Phone is cancelled;
  • You sell or pass Your right, title or interest in the Mobile Phone or BYO Mobile Phone to another person;
  • the policy ends in accordance with its terms or law (for example, when the Period of Insurance ends, the Policy is lapsed, not renewed or is cancelled); or
  • Your second valid paid claim in any 12-month period is accepted by Us.

See Refunds (excluding Cooling Off Period rights) section to see if You are entitled to a premium refund.

7. Cancellation

The policy may be cancelled by You at any time or by Us in accordance with the terms of the Insurance Contracts Act 1984.  To cancel Your policy please contact Virgin Mobile 1300 555 100.

8. Cooling Off Period

You have a 14 day cooling off period, which commences when  the policy is issued (excluding renewals), during which time You can cancel the policy and get a refund, provided You have not made a claim or are entitled to make a claim.

9. Refunds (excluding Cooling Off Period rights)

Subject to Your Cooling Off Period rights where applicable, if You:

  • or We cancel the policy;
  • notify Us that Your Virgin Mobile Agreement for Your insured Mobile Phone or BYO Mobile Phone is cancelled;
  • You sell or pass Your right, title or interest in Your Mobile Phone or BYO Mobile Phone to another person,

We will pay You a pro rata refund of premium for the remaining Period of Insurance.

10. Dispute Resolution

If You are dissatisfied with Our or Virgin Mobile's services – Call Risk Insure on 1300 303 772 or You can put Your concern in writing to Risk Insure Customer Relations Department, PO Box 7087 Hutt Street, Adelaide SA 5000 or at IDR@riskinsure.com.au.

Internal Dispute Resolution

If the matter cannot be resolved through Risk Insure management, at Your request (refer to contact details above), We will escalate Your complaint for review by Our Internal Disputes Resolution team. After full consideration of the matter a written response will be provided that will outline the decision reached and the reasons for the decision.

External Dispute Resolution

In the unlikely event that your complaint is not resolved to your satisfaction, or a final response has not been provided within 45 days, you may refer the matter to a free independent external dispute resolution service provided to customers to review and resolve complaints that fall within its terms of reference or rules as follows:

The Australian Financial Complaints Authority

Online: www.afca.org.au

Email: info@afca.org.au

Phone: 1800 931 678

Mail: Australian Financial Complaints Authority GPO Box 3 Melbourne VIC 3001.

11. Financial claims scheme and compensation arrangements

Hollard is an insurance company authorised under the Insurance Act 1973 (Insurance Act) to carry on general insurance business in Australia by the Australian Prudential Regulation Authority (APRA) and is subject to the prudential requirements of the Insurance Act. The Insurance Act is designed to ensure that, under all reasonable circumstances, financial promises made by Us are met within a stable, efficient and competitive financial system.Because of this Hollard are exempted from the requirements to meet the compensation arrangements Australian financial services licensees must have in place to compensate retail clients for loss or damage suffered because of breaches by the licensee or its representatives of Chapter 7 of the Corporations Act. Hollard has compensation arrangements in place that are in accordance with the Insurance Act.In the unlikely event that Hollard was to become insolvent and could not meet their obligations under the policy, a person entitled to claim under it may be entitled to payment under the Financial Claims Scheme. Access to the scheme is subject to eligibility criteria. More information can be obtained from www.fcs.gov.au

12. The General Insurance Code of Practice

The Insurance Council of Australia Limited has developed the General Insurance Code of Practice, which is a self-regulatory code for use by all insurers. The Code aims to raise the standards of practice and service in the insurance industry. Hollard is a signatory to the Code.

You can obtain a copy of the Code from the Insurance Council of Australia website www.insurancecouncil.com.au or by phoning 1300 728 228.

13. Electronic delivery of policy documents

You agree that any policy documents and any notices will be provided to You electronically unless You tell Us or Virgin Mobile otherwise.  It is important that You advise Us or Virgin Mobile of any changes to Your email or phone number to ensure You get these important documents.

If however You wish to receive Your policy documents and other notices in hard copy, please tell Us.

14. Any more information required?

If You have any queries, want further information about this insurance or want to confirm a transaction, please contact Risk Insure on 1300 303 772.

15. Confirmation of transaction details

To the extent the documents sent to You regarding confirmation of cover do not contain any relevant policy confirmation details required, You agree to contact Risk Insure to obtain them.

16. Updating the PDS

We may need to update this PDS from time to time if certain changes occur where required and permitted by law.  We will issue a new PDS or supplementary PDS or other compliant document to update the relevant information except in limited circumstances.  Where the information is not something that would be materially adverse from the point of view of a reasonable person considering whether to buy this insurance, We may issue You with notice of this information in other forms or keep an internal record of such changes.  A paper copy of any updated information can be provided without charge, on request by contacting Risk Insure on 1300 303 772.

FINANCIAL SERVICES GUIDE

This Financial Services Guide (FSG) describes the insurance services offered by Virgin Mobile and Risk Insure and is designed to help You decide whether to use those services. It also covers the charges for those services, Your rights as a client and how any complaints You may have will be dealt with. Virgin Mobile gives You the FSG when You ask it to arrange insurance for You.

The Product Disclosure Statement (PDS) for Virgin Mobile insurance is included with this FSG and sets out the significant benefits, features and characteristics of the cover and will assist You to compare and make an informed decision about whether to take out the insurance.

About Virgin Mobile, Risk Insure and their services

Virgin Mobile is an authorised representative of Risk Insure and can give You information about Virgin Mobile insurance and can arrange for the issue, renewal, variation or cancellation of Your Virgin Mobile insurance. Virgin Mobile cannot provide any advice about this insurance.  If You need any advice about this product, contact Risk Insure.

Risk Insure is an Australian Financial Services Licensee which is authorised to advise on and deal in general insurance, including Virgin Mobile insurance. Risk Insure has a binder agreement with Hollard, which enables Risk Insure to issue, vary, cancel, renew and handle and settle claims under the policy as agent for Hollard. Risk Insure does not act for You.

Who we act for

When Virgin Mobile arranges for the issue, renewal, variation or cancellation of Your insurance and collects the premium for Your insurance, it acts on behalf of Risk Insure and Hollard and not on Your behalf. Risk Insure is responsible for the financial services provided to You by Virgin Mobile.

When Risk Insure issues, varies, cancels, renews, or handles claims in relation to, the policy it acts on behalf of Hollard and not on Your behalf. If Risk Insure provides advice to You, it does so on Your behalf.

How are we paid?

For providing its various services (including the insurance billing service), Virgin Mobile may receive a fee of up to $4.00 incl GST from Risk Insure for each month the insurance is in force. This amount is included in the premium, which is referred to in the invoice You receive from Virgin Mobile as an "Insurance Charge".  Sometimes bonuses are payable to the sales representatives. Any bonus payable will not exceed one month premium per sale of insurance product.

Risk Insure receives 5% commission plus GST for each month the insurance is in force. Risk Insure receives a share of the profit which arises from the Virgin Mobile insurance it arranges after payment of all related claims and expenses incurred by both Risk Insure and Hollard.

If You require further details about any of the above remuneration received by Virgin Mobile or Risk Insure please ask us within a reasonable time after receiving this FSG and before we provide You with financial services to which this FSG relates.

Dispute resolution

For information on our internal and external dispute resolution process see "10. Dispute Resolution" in the PDS section.

Compensation arrangements

As required by the Corporations Act 2001 (Cth), Risk Insure has its own insurance protection to further protect Your interests. This insurance covers Risk Insure for claims against their current and former representatives, including Virgin Mobile. Full details of Risk Insure can be found on www.riskinsure.com.au or Risk Insure will provide details to You upon Your written request.

Privacy

In this section, “We”, “Our” and “Us” includes Hollard, Risk Insure, Virgin Mobile and their related entities.

We deal with Your personal information in accordance with the Privacy Act 1988 (Cth) and each of Our respective privacy policies as listed below. We collect personal information to provide, offer and administer Our various products and services, or otherwise as permitted by law. Such purposes include responding to Your enquiries, providing You with assistance You request of Us, maintaining and administering Our products and services, providing You with marketing information regarding other products and services (of Ours or a third party); quality assurance and training purposes; performing administrative operations and any other purpose identified at the time of collecting Your information.

If You provide personal information to Us about another person, We rely on You to have made or make them aware that You will, or may, provide their information to Us and the types of third parties We may provide it to, the relevant purposes We and any of the third parties will use it for and how they can access it. If You have not done, or will not do, either of these things, You must tell Us before You provide their relevant personal information.

We may collect Your personal information so that We or Our related entities or other third parties with whom We have a relationship can develop or offer You products and services which We believe may be of interest to You, but will not do so if You tell Us not to by contacting Us.

Collection can take place by websites, email, telephone or in writing. Unless it is unreasonable or impracticable for Us to do so, We collect Your personal information directly from You. There may, however, be occasions where We collect Your personal information from someone else.

If You do not consent to Us collecting and using all or some of the personal information We request, We may not be able to provide You with Our products or services such as processing Your application for insurance, Your claim or any payment due to You.

We may at times also disclose Your personal information to Our related companies or third parties who provide services on Our behalf, however We will never sell, rent or trade Your personal information. This may include Our professional advisors, authorised representatives, distributors or referrers, mailing houses and marketing companies, insurance reference bureaus, reinsurers, credit providers, external IT service providers, other insurance intermediaries, providers and advisers. In the case of claims (or likely claims) it may be disclosed to persons involved in claim handling processes. Your personal information may also be disclosed to the Financial Ombudsman Service or other dispute resolution providers, government bodies, regulators, law enforcement agencies and any other parties where required by law.

It may happen that We disclose personal information to related companies or service providers located in countries other than Australia. These details are listed in each of Our respective privacy policies and can change from time to time.

You consent to the use and disclosure of Your personal information as set out in this section. Your consent applies whether You become or remain the insured unless You tell Us otherwise by contacting Us. You can read more about how We collect, use and disclose Your personal information or Our complaints process about a breach of the Australian Privacy Principles in Our respective privacy policies which are available on Our website or You can request a copy. If You wish to gain access to Your personal information (including correcting or updating it), have a complaint about a breach of Your privacy or have any other query relating to privacy, please contact Us (Our contact details are provided below).

Hollard

hollard.com.au/privacy-policy.aspx

02 9253 6600

Risk Insure

riskinsure.com.au/important-information/privacy-policy/

1300 303 772

Virgin Mobile

https://www.virginmobile.com.au/privacy/

1300 555 100

Contact Us

Risk Insure Pty Ltd
ABN: 23 090 918 399
AFS Lic Nº: 230163
PO Box 7087 Hutt Street, Adelaide SA 5000
T: 1300 303 772

Virgin Mobile (Australia) Pty Ltd
ABN: 67 092 726 442
Corporate Authorised Rep Nº: 263130
Locked Bag 17, Royal Exchange, NSW 1225
T: 1300 555 100

This FSG was prepared on 3rd November 2017 and its distribution has been authorised by Risk Insure Pty Limited.

The Lowdown

Monthly premium (incl. GST) $13
Geographic cover International
Cover Repair & replacement of equivalent model if lost damaged or stolen
Sum insured Up to $5000 per claim (subject to an excess)
Excess

$125 for repair
$200 for replacement
$75 if your Mobile Phone or BYO Mobile Phone is repaired or replaced with a Mobile Phone with a recommended retail price of less than $200.

Lost damaged or stolen within Australia Reimbursement of up to $1250 for unauthorised calls
Lost damaged or stolen outside Australia Reimbursement of up to $500 for up to 14 days to hire an equivalent temporary replacement
Want to find out more?
Risk Insure Pty Ltd

Our prices include GST, are correct as at 3rd November 2017 and may change from time to time. Virgin Mobile Standard Form of Agreement applies and can be found at virginmobile.com.au/sfoa