• Our Company

    Bay Insurances Services trades under Napier Financial Services Limited

  • Licensing Information:

    Our advisers are engaged directly by Wealthpoint Limited which holds a transitional financial advice provider licence. For more information, visit here www.wealthpoint.co.nz

  • My/Our Obligation to You

    My/our obligations to you through this process of agreed personal insurance services and advice are:

    • To listen to your needs, concerns and preferences and to treat you with respect
    • To provide a service and advice that is relevant to this scope of service and suitable to your circumstances, goals, needs and risk tolerance.
    • To keep you informed along the way and communicate in a timely, clear and effective manner
    • To act with integrity and without conflict of interest
    • To take steps necessary to ensure you understand our advice and recommendations and any associated risks

  • The Six Step Financial Advice Process

  • Your Obligations

    Any advice provided as a result of a needs analysis can only be as good as the information received from you, so I ask that you provide me with the information I request. Without relevant and correct information about your personal and financial situation, I run the risk of giving advice that is not appropriate to your needs. If you are unsure as to why I need certain information, please ask so that I can explain.

  • Nature and Scope of Advice

    Our Advisers provide advice on Risk products, fire and general products inclusive of domestic, rural and business risks, Investments, Kiwisaver, Travel Insurance, transit insurance, speciality vehicle insurance and health insurance. The product providers we deal with are:

    AMP Life AIA Fidelity Life Asteron Life
    AMP General Southern Cross Fidelity Life Partners Life
    Vero Ando NZI NIB
    AMP Investments NIKKO Investments ANZ Investments

  • Fees or Expenses

    We do not personally charge fees or expenses for our advice. Please refer to your statement of Advice to note any fees being charged by the provider for their services/product.

  • How I Get Paid

    I am paid in the form of commission by the insurance provider through which we place business This is paid to my company, Bay Insurance Services Limited. The amount of commission is based on the premium you pay. Typically, we will receive an upfront commission between 20% and 200% of annual premium you pay and then an annual on-going commission of between 7% and 20% of the annual premium you pay. More specific detail is provided at the time our advice is given.

  • Conflicts of Interest and Incentives

    From time to time, a provider may run an incentive program within their business. We counter this conflict of interest by following a clear advice process which is directly aligned with the client’s needs and ensures that the advice is fit for purpose.

  • Complaints Handling and Dispute Resolution

    If you have a problem, concern, or complaint about any part of my service, please tell us. We invite you to approach the Adviser Principal, Mike Stovell on either 06 834 3408, 021 467 420 or mike@bis.nz or alternatively Practice Manager, Karen Hammond on 06 834 3408 or karen@bis.nz. We will guide you through this process. If you feel that we have not been able to resolve this for you, we will forward your complaint to our licence holder Wealthpoint Limited. If we are unable to resolve this further, you can contact and lodge your complaint with my Disputes Resolutions Scheme: This service will cost nothing, and will help us resolve any disagreements.

  • You May Contact/Lodge Your Complaint With


    Company To Contact Insurance & Financial Services Ombudsman Scheme
    Email info@ifso.nz
    Telephone Main Office 0800 888 202
    Wellington Office 0800 888 202
    Fax 04 499 7614
    Physical Address Level 2, Solnet House
    70 The Terrace
    Wellington 6143
    Postal Address PO Box 10-845
    Wellington 6143

  • Duties Information

    We at Bay Insurance Services have a duty to ensure the advice must meet legal duties to meet standards of competence, knowledge and skill in the Code of Conduct. We must give priority to the client’s interests, excise care, diligence and skill and meet standards of ethical behaviour, conduct and client care in the Code of Conduct.

  • Privacy

    This statement relates to the personal information that you provide now and in the future. The personal information collected will be held by my Adviser Business to identify services and products available from our underwriters that may be suitable for your needs. Underwriters can access the information to assist me to provide financial services to you, to administer and service any products you have with them, to provide quality control services and to manage complaints. All information is handled in accordance with the Privacy Act of 2020.
    We may also share this information with Wealthpoint Limited, our Financial Advice Provider for clarification on advice or to help manage the complaints process. You have the right to ask to see any personal information my Adviser Business and/or underwriters holds about you. If you believe the information is incorrect, you may ask that it be corrected. My Adviser Business and underwriters hold information about you securely. If you transfer to another Adviser Business, Adviser or I sell my client register, I will transfer the information I hold to the new Adviser Business or Adviser.