Adviser Disclosure Statement
Paul Mackay
Last updated 7 November 2025 Licensing Licensing
I am a registered Financial Adviser and I am giving advice on behalf of Waimea Insurance Brokers Ltd.
My details are as follows:
Name: Paul Stuart Mackay
Registration: FSP99686
Date Registered: 18-Mar-2011
Phone: 021 933 108
Email: [email protected]
Please refer to our Public Disclosure Statement for the primary disclosure statement.
For more details about my registration, please see here.
Nature and Scope of the Advice
I will only provide you with financial advice about Fire and General Insurance, from a wide range of New Zealand based and overseas providers. The list of providers that I have access to, is located on our Public Disclosure Statement.
When providing you with financial advice I will consider:
• insurance products that you currently have;
• insurance products that you don’t have;
• your budget and/or financial position;
• your goals and priorities;
• your risk appetite; and
• risk management techniques.
If I recommend changing any insurance products you currently have, I will notify you of the
important differences and benefits between them.
I specialise in Small / Medium Enterprise (SME) and Commercial risks and can also provide advice on Domestic risks.
Limitations of My Financial Advice
While I can provide comprehensive advice on Fire and General Insurance products, there are certain limitations to the scope of my advice:
• I don’t provide comprehensive financial planning: My advice focuses on specific insurance products and risk management solutions. I don’t offer advice on investments, retirement planning, tax strategies, personal / life insurance or other areas of financial planning outside of fire and general insurance.
• I work with selected providers: I can only recommend insurance products from the providers I have access to, which are listed in our Public Disclosure Statement. This means my advice is based on the options available within this network, rather than from a broader market.
• Advice is tailored to your risk: My recommendations are based on your current insurance needs and financial situation, but I don’t provide ongoing management or regular updates unless requested.
If you need broader financial advice or if your situation changes, I recommend seeking guidance from a specialist in those areas.
Reliability History
Neither CBN NZ, Waimea Insurance Brokers Ltd nor I, have been subject to a reliability event. A reliability event is something that might materially influence you in deciding whether to seek advice from us. As an example, it would include legal proceedings against me, or if I had been discharged from bankruptcy in the last four years.
Conflicts of Interest and Incentives
When arranging insurance, providers may pay us a commission based on the Company Premium and Natural Disaster premium (if applicable). This is to cover our operational expenses for the distribution of the financial product on behalf of the insurer.
Generally, commissions typically vary within the range of 15% to 30% of the company premium for the majority of insurance products, and they typically fall within the range of 0% to 10% of the Natural Disaster premium. The precise commission amounts will be disclosed to you once I have identified the specific insurance products and providers that I am recommending. Should you require a full list, this is available on request.
If there are any further conflicts of interest with the advice that I plan to give, I will make this known prior and we will work together to mitigate this.
Fees, Expenses, or Other Amounts Payable
If you decide to move forward with my advice and I help arrange your insurance, there might be a fee involved. I can’t give you an exact figure just yet, but I will clearly explain the costs in my recommendation once we get that far.
This fee will be clearly stated on your final invoice, and you’ll need to settle it by the due date. If you choose a Premium Funding arrangement, the fee could be included in your monthly payments via the Premium Funding company.
Sometimes, additional fees like credit card charges may apply, and I’ll make sure to include those details in my recommendation. You’ll receive a full breakdown of all costs in the final Disclosure Information along with your invoice.
Cancellation Fees
In the event that you decide to cancel any insurance policies I’ve helped arrange mid-term, there may be a cancellation fee associated with this process. Cancellation fees can vary. These fees are generally for administrative costs and any unearned premium commission.
I will make sure to inform you of any cancellation fees that may apply before you proceed. If you choose to cancel, I’ll work with you to ensure the process is as smooth as possible, and I’ll confirm the exact fees before any cancellation is finalised.
Your information
Your information, including the information that we have discussed and that I have obtained about your risk, is documented in written form. If you would like to receive a written copy of your information, please inform me, and I will gladly provide it. Otherwise, you can read more about your information on our Privacy Policy.
Complaints Handling & Dispute Resolution
Should you wish to make a complaint, in the first instance let me know, and I will try to resolve your complaint to your satisfaction.
For more information about our internal complaints process, please refer to our Complaints and Disputes process here.
Licensing Information
Waimea Insurance Brokers Ltd (FSP1005044), trading as Waimea Insurance Brokers (Waimea Insurance Brokers, we, our, us) is a Financial Advice Provider (FAP) and is named as an Authorised Body to provide a financial advice service under the FAP Licence held by PSC Connect NZ Ltd.
PSC Connect NZ Ltd (PSCCNZ) (FSP331526) is the Full licence holder, as approved by the Financial Markets Authority (FMA).
There are no special licence conditions imposed.
Nature and Scope of the Advice
Waimea Insurance Brokers provides advice to clients about General Insurance and our Financial Advisers provide financial advice in relation to these financial advice products.
We will not provide advice on Life and Health Insurance, Investments, Kiwisaver, Medical Insurance or Mortgages, so you will need to consult a specialist if you would like advice on those products. We can refer a specialist to contact you if you require.
Waimea Insurance Brokers can provide financial advice on a variety of products from a wide range of New Zealand based and overseas providers and includes but is not limited to:
Financial Advice Products
Business Insurance AIG Mecon
Property Allianz Nautical Marine
Business Interruption Ando NM Insurance
Commercial Vehicles Berkshire Hathaway Protecsure
Marine Certain Underwriters at Lloyd’s QBE
Trade Credit Chubb Sage
Travel Classic Cover Rosser
Liability Club Auto Salt Marine
Engineering/Contract Works Concordia Star Insurance
Event Cancellation Covermore Sunderland Marine
Forestry Delta TAI
Mobile Plant Dual TLC Insurance
House Euler Hermes UAA
Contents Event Cover Vero
Private Motor Vehicles IAG (NZI, Lumley) Zurich
Boat Insurance
Providers
AIG
Allianz
Ando
Berkshire Hathaway
Certain Underwriters at Lloyd’s
Chubb
Classic Cover
Club Auto
Concordia
Covermore
Delta
Dual
Euler Hermes
Event Cover
IAG (NZI, Lumley)
Mecon
Nautical Marine
NM Insurance
Protecsure
QBE
Sage
Rosser
Salt Marine
Star Insurance
Sunderland Marine
TAI
TLC Insurance
UAA
Vero
Zurich
We are not aware of any material limitations or restrictions on the scope of financial advice service we provide. If these are identified, we will disclose them to you.
How We Get Paid
We earn our income from either a fee or commissions earned from providers or a combination of both.
Fees and Expenses
Should you proceed with our financial advice and we arrange insurance for you, then a fee may be charged.
This fee will be based on the amount of work and time required to provide and implement our advice and will be shown on your invoice.
If we arrange insurance for you and you cancel it part way through the insurance period, we may keep some or all of that fee.
We may charge a fee for making adjustments to your insurance during the insurance period. This fee will show on your invoice.
PSCCNZ retain a percentage of this fee for a range of professional services they provide to Waimea Insurance Brokers.
Sometimes other fees are charged that do not relate to the financial advice such as credit card fees. If so, we will advise you of this in our recommendation.
Conflicts of Interest and Incentives
When we arrange insurance for you, the provider(s) pay us a commission. The amount of the commission varies between providers and products and is based on a percentage of the Company Premium and Natural Disaster premium (if applicable).
If we arrange insurance for you and you cancel it part way through the insurance period, we may keep some or all of the commission from any refund due to you.
PSCCNZ retain a percentage of this commission for a range of professional services they provide to Waimea Insurance Brokers.
If a person or entity has referred you to us, we may pay them a percentage of the commission and/or fees we receive for their referral.
A financial adviser may have a conflict of interest in circumstances where financial advice has been provided to two clients who later have a dispute. If this occurs the financial adviser will disclose the conflict of interest to you and refer one client to another financial adviser for advice and assistance.
To ensure that our Financial Advisers prioritise your interests above their own, we follow an advice process that ensures our recommendations are made on the basis of the information you have provided and your unique circumstances.
We maintain a register of conflicts of interest, of gifts and any other incentives we may receive.
If we believe there is a conflict of interest – real or perceived – we will discuss this with you.
PSCCNZ and Waimea Insurance Brokers also undertake annual internal reviews to ensure compliance with these statements.
Premium Funding
Premium funding enables you to pay the insurance premium by instalments, rather than make a lump sum payment.
Premium funding companies charge interest and they take a power of attorney over your insurance policy. This means they have the ability to cancel your insurance policy if you fail to pay an instalment.
If you enter into a premium funding arrangement, the premium funding company will pay Waimea Insurance Brokers a commission as a percentage of the amount they fund.
We will disclose the amount of this when we know the scope and nature of the advice you need and whether you want to pay by instalments.
Complaints Handling & Dispute Resolution
Please refer to our Internal Complaints Process that can be found here.
Duties Information
Waimea Insurance Brokers, PSCCNZ and anyone who gives financial advice on their behalf have duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice.
We are required to:
• give priority to your interests by taking all reasonable steps to make sure our advice isn’t materially influenced by our own interests;
• exercise care, diligence and skill in providing you with advice;
• meet standards of competence, knowledge and skill as set by the Code of Professional Conduct for Financial Advice Services. These are designed to make sure that we have the expertise needed to provide you with advice.
• meet standards of ethical behaviour, conduct and client care set by the Code of Professional Conduct for Financial Advice Services. These are designed to make sure we treat you as we should and give you suitable advice.
This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the FMA website here.
Identifying Information
Waimea Insurance Brokers Ltd (FSP1005044), trading as Waimea Insurance Brokers is a Financial Advice Provider (FAP).
Our contact details are:
Phone: 021 933 108
Email: [email protected]
Address: PO Box 3002, Richmond 7050
Paul Mackay (FSP99686) is a Financial Adviser of Waimea Insurance Brokers and his contact details are:
Phone: 021 933 108
Email: [email protected]