Public Overview
Insurance Broking Engagement — Term Sheet
Illustrative summary for HR & Finance leaders. Not an offer. Final terms subject to mutual agreement and SOS.
Scope
- Market mapping, RFP support, quote negotiation, placement administration.
- Employee onboarding, helpdesk & query resolution, MIS & utilisation reporting.
- Claims assistance & escalation support (no outcome guarantees; policy terms govern).
- Quarterly stewardship reviews; wellness & communication support.
What’s not included
- Legal, tax or accounting advice.
- Guarantees on insurer/TPA/hospital decisions or timelines.
- Projects outside the agreed SOS without a signed change order.
Service standards
- Commercially reasonable endeavours; timelines may depend on insurers/TPAs/hospitals.
- Authorised contacts & email approvals are binding (per Authority Matrix).
- Coverage summaries sent by Ethika are deemed accepted for broker records if unchallenged within 5 business days.
Compliance & data
- No rebates or inducements; remuneration disclosure available on request.
- Data shared only with insurers/TPAs for quotation, placement, servicing & claims.
- 64VB reminder: risk attaches only after insurer receipt of premium.
Co‑broking (if applicable)
- Used with Client’s prior written consent on specified placements.
- Separate TOBA between brokers; roles & remuneration split disclosed to insurer.
- Liability several, not joint.
Commercials (high‑level)
- No contingent/success fees; fees exclusive of GST.
- Invoices payable without set‑off; withholding certificates to be provided where applicable.
- Offboarding assistance available on termination (hourly rates apply).
This term sheet is an illustrative summary only and does not constitute an offer or legal advice. Final documentation (MSA/SOS) is shared on request.