Murphy’s (Pty) Ltd trading as Murphy’s Insurance Brokers provides financial services within the scope of its Category I licence issued by the Financial Sector Conduct Authority (FSCA) FSP 54915. This disclosure explains the firm’s authorised services, its role as an insurance broker, remuneration and conflicts, and how clients can raise a complaint or request policies.

Authorised services

Murphy’s is authorised to provide non-automated advice and other intermediary services in respect of the following product categories:

1. Short-Term Insurance: Personal Lines
2. Long-Term Insurance: Subcategory B1
3. Long-Term Insurance: Subcategory B2
4. Short-Term Insurance: Commercial Lines

The services provided in a particular case depend on the client’s needs, the relevant product and the scope of Murphy’s current FSCA licence.

Our role as an insurance broker

Murphy’s acts as an intermediary between clients and insurers. It is not an insurer and does not underwrite insurance risks. The relevant insurer decides whether to accept a risk and provides any cover under the policy it issues.

Depending on the client’s requirements, Murphy’s may assess insurance needs, provide advice, obtain or compare available options from insurers, assist with arranging cover, and provide policy administration or claims support where applicable.

A recommendation depends on the information provided by the client and the client’s needs and circumstances. The insurer’s policy wording, schedule, conditions, exclusions, limits and underwriting requirements determine the cover provided.

Insurers and financial interests

Murphy’s is an independent insurance broker with mandates from various insurers. Murphy’s does not hold more than 10% of the shares in any insurer, and no insurer holds more than 30% of the shares in Murphy’s. Where relevant to a client’s financial service, Murphy’s will provide information about the insurer, the product and the relationship between the parties.

Commission and fees

Murphy’s may receive commission from an insurer for financial services provided. Its published general commission ranges are:

1. Non-motor insurance: typically, 12.5% to 20% of the premium.
2. Motor insurance: typically, 5% to 12.5% of the premium.

The commission applicable to a specific product or transaction may differ. The relevant remuneration will be disclosed to the client when the product or service is discussed. Murphy’s may charge a fee for certain services. Any applicable fee will be explained to the client before it is charged.

Conflicts of interest

Murphy’s takes steps to identify and manage conflicts of interest. If a conflict is relevant to a client’s financial service, Murphy’s will disclose it and explain how it will be managed.

Representatives and supervision

Murphy’s representatives must provide financial services within the scope of their authorisation and competence. Where a representative provides services under supervision, this will be disclosed to the client where applicable.

Professional indemnity cover and insurer functions

Murphy’s holds professional indemnity insurance. Further information about its professional indemnity cover may be requested through the website chatbot.

Murphy’s may perform functions for an insurer under an agreement with that insurer. These may include administrative functions, such as claims handling, where applicable. The relevant functions and responsibilities will be explained to the client when they relate to the client’s policy or service.

Complaints

A client who is dissatisfied with a financial service provided by Murphy’s may lodge a complaint using the contact details below:

Email: llan@murphysinsurance.co.za
Telephone: 082 303 2544
Address: 107 Turkoois Street, Lyttelton Manor, Pretoria, 0157

The complaint should include the client’s name and contact details, the policy or service concerned, a description of the issue and any relevant supporting documents.

Murphy’s will consider the complaint under its internal complaints process. The Complaints Management Policy is available on request through the website chatbot. Type “Request the Complaints Management Policy” into the chatbot.

If a complaint remains unresolved after Murphy’s internal process, the client may be able to refer it to the appropriate external body, depending on the nature of the complaint and that body’s jurisdiction:

FAIS Ombud, complaints concerning financial services within its jurisdiction: www.faisombud.co.za

National Financial Ombud Scheme South Africa, insurance policy or claim disputes within its jurisdiction: www.nfosa.co.za

Requesting policies

The following policies are available on request through the website chatbot:

• Conflict of Interest Policy
• Complaints Management Policy

Type the name of the policy into the chatbot. The chatbot will confirm the request and explain how the document will be provided.