Vibe Insurance
 

Agreement
These Terms of Engagement govern all services provided by Overfifty Insurance Limited trading as Vibe Insurance("Vibe Insurance", "we", "our", or "us") to you ("you" or "your").

"You" includes any individual or entity you represent in your engagement with us.

These Terms may be modified by us at any time through written notice to you. Continued use of our services following such changes constitutes your acceptance of the revised Terms. If you do not agree with any changes, you may terminate the agreement as outlined.

These Terms supersede any prior agreements and apply to all services we provide unless explicitly agreed otherwise.
 

Services
Vibe Insurance is a member of Folio.Insure Ltd, the Steadfast Group, and the Insurance Brokers Association of New Zealand Inc. (IBANZ), and adheres to the IBANZ Code of Practice.

We are regulated by the Insurance Intermediaries Act 1994 and the Financial Markets Conduct Act. These laws govern how we handle financial products, premiums, and claims.

We offer a range of general insurance advisory and risk management services to individuals and businesses:

• Reviewing your risk exposure and insurance goals

• Advising on insurance product suitability

• Providing policy comparisons

• Arranging, amending, and renewing insurance policies

• Facilitating premium funding

• Assisting with claims

• Offering insurance market insights
   

Additional services may be provided by mutual agreement.

Our role is to act as your representative, but you are responsible for selecting your insurer and policy. We accept no liability for your choice of insurer or policy.

You acknowledge that:

• We may use both local and international insurers.

• We may engage third-party professionals.

• We may support risks outside of New Zealand.

• We may use binder arrangements with insurers.

• We aim to promptly issue accurate policy documentation.
   

Remuneration
Our remuneration funds our operational costs. We may receive:

• Commission from insurers

• Agreed fees

• Commissions on premium funding

• Referral fees (incoming and outgoing)

• Interest on client funds

• Non-financial benefits (e.g., training, events)
   

We retain our remuneration even if a policy is cancelled unless otherwise agreed.

We may deduct unpaid amounts from client funds and charge admin fees for certain document services.

Extent of Our Liability
Nothing in these Terms affects your rights under the Fair Trading Act 1986 or Consumer Guarantees Act 1993 if you are a consumer.

We make no guarantees on insurer solvency and base our recommendations on insurer ratings (A- or higher unless otherwise noted). We will notify you if this is not possible.

We are not liable for prior policies placed by others. We’ll review such policies within 60 days of appointment and only accept responsibility after a review and changes are implemented.

Our maximum aggregate liability is NZD $1,000,000. We are not liable for indirect, special, or consequential loss.
 

File Retention
We retain files for at least seven years. After that, they may be destroyed without notice. You are responsible for keeping your policy documents.
 

Disclosure of Interest
We will disclose any conflicts of interest if and when they arise.

Free Look / Cooling Off Period
If your policy includes a "free look" period, you may cancel without penalty within that period. A full refund is provided if no claims have been made.

Complaints and Disputes
If you are dissatisfied, contact us in writing to “The Manager”. We aim to resolve complaints within 10 working days. If unresolved, you may escalate to the Insurance and Financial Services Ombudsman. Details: https://www.folio.insure/complaints
 

Termination
Either party may terminate these Terms with written notice. We will cease services from the date of termination.

Note:

• Policies are not cancelled unless we receive specific written instructions.

• Some policies may require insurer approval to cancel.

• You are liable for any cancellation penalties.
   

Notices
All notices must be in writing and sent by hand, post, or email to the relevant parties. Notify us of changes to your contact details.

Entire Agreement
These Terms, including any attachments, are the entire agreement between you, Vibe Insurance, and Folio.Insure Ltd.
 

Amendment
Any changes to these Terms must be in writing and signed by both parties.

Waiver
Failure to enforce any rights does not constitute a waiver of those rights.
 

Severability
If any part of these Terms is invalid, the remainder continues in effect.

Governing Law and Jurisdiction
These Terms are governed by New Zealand law and subject to the jurisdiction of New Zealand courts.

General
Your personal information is handled per our Privacy Policy. We may contact you for marketing purposes with your consent, which you can revoke at any time.

No cover is deemed to be in place without written confirmation from us.

By continuing with our services, you agree to these Terms of Engagement.