Target Market Determinations

As part of the new Product Design and Distribution Obligations (DDO), insurers are now required to create a written documents called Target Market Determinations (TMDs) for all products which are accompanied by a Product Disclosure Statement (PDS).

A TMD describes a class of consumers (retail clients) that comprises the target market for the product. The TMD document will specify the;

(a) conditions and restrictions on the distribution of the retail product

(b) events and circumstances that would reasonably suggest the TMD is no longer appropriate; and

Distributors such as Findex are now required to ensure that any retail client that is sold a product with a PDS is within the target market of that product, and the TMD must be made available to them.

A TMD does not form part of the terms of a product and any information or examples given in it are not a complete list of eligibility. Product features, benefits, terms, conditions and exclusions are set out in the relevant PDS and any other policy documents issued to you. Before making a decision to buy insurance, you should consider whether it is appropriate for your specific circumstances and read the relevant Product Disclosure Statement (PDS) and Target Market Determination (TMD).

Below is a list of the TMDs created by the insurers underwriting products distributed by Findex Insurance Brokers Pty Ltd ABN 17 139 730 528 AFSL No. 342526. These are broken down by insurer below for your reference.

AIG

Product types: Corporate Travel, Group Personal Accident

TMD link: https://www.aig.com.au/tmd

Allianz

Product types: All products

TMD link: https://www.einsure.com.au/allianztmd

Arteva Funding

Product types: Domestic Premium Funding

TMD link: https://arteva.com.au/target-market-determination

CGU

Product types: Home Building and Contents, Landlords, Private Motor, Boat, Caravan, Country Pack, Farm Motor, Commercial Motor, Fleet Motor, Owner Builder

TMD link: https://www.cgu.com.au/about-cgu/broker-tmd

Chubb

Product types: A&H Corporate, Business Pack, Fine Art, Leisure Travel Insurance, Marine, Personal Lines, Strata, Business Pack (SCTP)

TMD link: https://www.chubb.com/au-en/customer-service/pds-and-tmd-search.html

Hollard Commercial

Product types: Commercial Motor, Home Building and Contents, Landlords, Motor

TMD links:

Commercial Motor: https://www.hollardcommercial.com.au/media/2054/hci-tmd-commercial-motor.pdf

Home Building & Contents: https://www.hollardinsurance.com.au/media/1912/home-tmd-v0120210901.pdf

Landlords: https://www.hollardinsurance.com.au/media/1913/landlord-tmd-v0120210901.pdf

Motor: https://www.hollardinsurance.com.au/media/1914/motor-tmd-v0120210901.pdf

Hollard Personal

Product types: Home (SCTP), Landlords (SCTP), Motor (SCTP)

TMD link: https://www.hollardinsurance.com.au/target-market-determination/

IAL

Product types: Home (SCTP), Landlords (SCTP), Motor (SCTP)

TMD link: https://www.ial.com.au/PDS-Docs.html

Blue Zebra

Product types: Home (SCTP), Landlords (SCTP), Motor (SCTP)

TMD link: https://bzi.com.au/product_documents_steadfast.aspx

QBE

Product type: Steadfast Commercial Motor, Steadfast Listed Events Home and Contents, Steadfast Accidental Damage, Steadfast Pleasure Craft, QBE Steadfast Commercial Motor (SCTP)

TMD PDF documents:

Steadfast Commercial Motor (PDS QM - QM6238 / TMD QM - QM9168) Private Motor)

Listed Events Home & Contents Policy - Steadfast (PDS QM - QM486 / TMD QM - QM9170)

Steadfast Accidental Damage Policy with Flood (PDS QM - QM487 / TMD QM - QM9167)

Steadfast pleasure craft policy (PDS QM - QM2707/ TMD QM - QM9171)

Client Trading Platform Commercial Motor Insurance (PDS QM - QM8949/ TMD QM - QM9169)

Farm Pack - Combined Personal and Commercial (PDS QM - QM7794/ TMD QM - QM9136)

Vero

Product types: SME Packages, Commercial Motor

TMD link: https://www.vero.com.au/broker/document-library.html

Zurich

Product types: Motor Insurance

TMD link: https://www.zurich.com.au/content/dam/documents/steadfast/steadfast-motor-tmd.pdf