JRI Limited - Terms of Business

Welcome to JRI, your experienced local provider of insurance broking services.  We care about our clients and their business, which is why we help select the products to help meet client needs, including a range of Commercial, Personal Lines, Life and Income Protection advice and products.

At JRI we know that our clients want to deal with industry professionals who have knowledge, expertise, honesty and integrity; which is why at JRI we go that extra mile supplying a personal and professional service.

Experience the difference in insurance broking with JRI – there with you every step of the way no matter your situation!

Why Choose JRI?

JRI brokers are Commercial and Personal Lines specialists and work with you to understand your needs.  Once we agree on the best cover for your needs, we’ll continue to work with you as your insurance broking resource.

We’ll update your cover as your business or personal assets grow and change.  If you have a claim we will manage it for you.  Our claims team advocate on your behalf and keep in touch with you along the way.

You won’t have to deal with the insurer and if a loss assessor is needed, we’ll help with that too.

Our Services

Whatever the size or scope of your business and/or personal affairs, JRI can take care of your business and personal insurance needs. JRI offers a broad range of insurance products to cover your assets and liabilities.  Our broker team provide our clients with expert advice and insurance policies that suit individual circumstances and preferences.  The personal lines and life insurance products we offer are supplied by leading insurance providers, meaning we can find the right policy for you and your situation.

Business Insurance

  • Annual Corporate Travel
  • Business Interruption
  • Carriers Liability
  • Commercial Motor Vehicle including Fleet and Heavy Haulage
  • Commercial Property
  • Construction Works
  • Cyber
  • Directors and Officers Liability
  • Employers Liablity
  • Employment Disputes Liablity
  • General and Products Liability
  • Internet Liability
  • Machinery Breakdown
  • Marine Transit, Hull & Cargo
  • Professional Indemnity
  • Rural
  • Statutory Liability
  • Trustees Liability

Personal Lines Insurance

  • Home
  • Lifestyle Blocks
  • Contents
  • Vehicle
  • Water Craft & Boat Insurance

Specialty Vehicles

  • Classic, Collectible & Unique Cars
  • Classic, Collectible, Off-Road Motorbikes & Scooters
  • Motorhomes, Caravans, Converted Buses & Pop-Tops
  • Race Cars and Motorbikes

Marine Insurance

  • Commercial Hull
  • Marine Cargo
  • Marine Liability

Risk Insurance

  • Critical Illness
  • Disability Cover
  • Health Cover
  • Income Protection
  • Life Cover



We will take care of your claim from beginning to end, managing the entire process and working as an advocate on your behalf.

Our claims service is a pivotal part of our relationship with you.  The very reason you have insurance is to manage risk and minimise loss.

When things go wrong we know it’s a stressful time.  One of our claims specialists will be dedicated to your claim - someone you can talk to who’s working in your best interest.

You won’t have to deal with the insurer, and if a loss assessor is needed to be appointed we’ll help with that too.

The knowledge and expertise of our claims team, coupled with the insurer relationships we have, aims to give you a better outcome than you would achieve on your own.


The Strength You Need


JRI Limited is part of the largest insurance broker network in Australia and New Zealand, the Steadfast Group.
Comprised of 398 brokerages spread across more than 700 offices, the Steadfast Group generated over $8.4 billion in sales in FY19. This scale gives Steadfast flexibility and influence when negotiating with major insurers on behalf of Steadfast brokers and results in us being able to provide our customers with access to multiple insurance companies, a broad range of products, competitive pricing and valuable advice.

As we are members of the Steadfast network, we can offer you - local and personalised service, with the insurance expertise and support of a large organisation.

Strength when you need it.


The Process

Gathering Information

It is important that we obtain as much information as possible to ensure we assess your needs and requirements accordingly. 

For business insurance clients, whether it is new business or a renewal, we will aim to meet with you in person where possible.  For personal insurance clients and any business clients that we are unable to meet in person, we will assess your needs over the telephone.

The more we know about your requirements the easier it is to provide you with the optimal insurance cover. 


Presenting Options

We’ll come back to you with options on how to protect the things of value to you.  We’ll discuss those options to ensure we both have a clear understanding on the exact nature of what is proposed and we’ll make a recommendation on a suitable insurance solution for your situation.

If you’re new to JRI and choose us as your insurance broker we will ask you to complete a letter of appointment.  If you wish to end the relationship you can cancel this appointment at any time.


Implementing the Agreed Options

Once a suitable option is determined, we’ll arrange the insurance cover to be put in place and supply you with all the relevant insurance documentation.  Please ensure you keep this in a safe place as it’s your record of the contract between you and the insurer.  We do ask that you read and familiarise yourself with the policy cover(s), conditions and exclusions.


Keeping In Touch

Your insurance and protection needs should be reviewed at least annually and we’ll keep in touch with you for this reason.  The renewal date of your insurance policy is often a good time to review your insurance needs and make sure your protection is optimised.


Changes to your insurance during the year

Should your circumstances or needs change during the year or if you wish to make any alterations to your cover, please do not hesitate to contact us.


Making Payments Easy

This overview relates to premium payments for all Business or Personal Lines covers and does not include Life, Disability, Income Protection, Health or Critical Illness Covers.


To ensure your cover is operative, we require payment on or before the policy renewal date.  There are three easy ways to pay your insurance account.  Credit terms other than through Premium Funding are strictly 30 days unless otherwise agreed by us. 

PLEASE NOTE: If an invoice is unpaid by the due date we are obliged to notify the insurer who may cancel the contract and charge a short-term premium for the time they insured the risk.

1.  Instalment Payment Option

You can choose to spread your insurance costs over easy to manage monthly instalments.  This involves completing a Premium Funding Agreement* and a direct debit form.  *Interest and an administration fee apply.  We use two different premium funders to supply this service:

  1. Hunter Premium Funding (Hunter) a division of Allianz New Zealand Limited.
  2. Elantis Premium Funding (Elantis) a division of Arthur J Gallagher New Zealand Limited.

Benefits include:

  • Smoother business cash flow
  • No security required
  • Easy to set up
  • Interest may be tax deductible for businesses


2.  Direct Credit – Annual Payment

Pay your insurance directly into our bank account:

Bank: Westpac
Name: JRI Limited
Account: 03-0713-0537019-00
Reference: Please use invoice number and/or client ID


3.  Credit Card/Eftpos

We accept payment by credit card, however please note that a merchant fee of 2.2% applies, this will be added to the total invoice amount. 

We do not receive any income from the merchant fee. 

Eftpos does not incur a merchant fee.


How We Get Paid

This section details what we will charge for our services and other remuneration we may receive.  It relates to personal and commercial insurance for JRI Limited.  If you have any questions about this please contact your broker.

We are paid brokerage by the Insurers we do business with when we arrange your insurance.  As a general rule, the brokerage we receive is a percentage of the Insurer’s base and earthquake premium (i.e. premium excluding fire services levy if applicable, GST or any other Government charges, taxes, or levies).

We may charge you a service fee to enable us to deliver and maintain a high level of service.

Broker revenue is our main source of revenue and covers the cost of providing services to you, including administration and processing costs related to servicing and arranging your insurance covers.

This revenue also covers any distribution functions we may perform for the insurer, such as marketing, annual renewal marketing and underwriting.  Broker revenue is the income from which we cover all normal business overheads including staff costs, IT, business travel and the like.

We have payment arrangements with insurers, as provided in the Insurance Intermediaries Act 1994, which permits JRI Ltd to receive any interest earned on premium funds held.

Premium Funding Commission

If you use Hunter Premium Funding (Hunter) A division of Allianz New Zealand Ltd or Elantis Premium Funding (Elantis) A division of Arthury J Gallagher New Zealand Ltd to pay your premiums, we will be paid a commission from them of up to 2% of the total insurance premium amount, plus $20 of the $40 administration fee, this fee is used by us to cover administrative overheads.

Premium Account

We operate a separate premium holding account in accordance with the requirements of the Insurance Intermediaries Act 1994.

Your Obligations

You have a duty to disclose certain information to the Insurer. This duty of disclosure applies before you enter into a contract of insurance for the first time, when you renew, when you vary or extend that contract, and at any time your circumstances change during the period of insurance.

When you enter into a particular contract of insurance with the insurer for the first time, you will be asked to answer specific questions on the insurance proposal form. You must answer these questions truthfully and accurately to comply with your duty of disclosure.

On renewal, you are expected to disclose to your insurer every matter that you know, or could reasonably be expected to know, that may be relevant to the Insurer’s decision whether to accept the risk and on what terms.

You do not have to disclose anything that:

  • Diminishes the risk to be undertaken by the Insurer;
  • Is common knowledge;
  • Your Insurer knows, or in the ordinary course of its business, ought to know; or
  • Your Insurer has waived your obligation to disclose.

If you do not comply with your duty of disclosure, the Insurer may be entitled to reduce their liability in respect of a claim or they may be entitled to cancel your contract of insurance.

If the non-disclosure was fraudulent, the Insurer may be able to void (or cancel) the contract of insurance from its beginning. This would have the effect that you were never insured.

One important matter to be disclosed is the history of losses suffered by the person seeking insurance or any closely associated person or entity. Since you are responsible for checking that you have made complete disclosure, we suggest that you keep an up-to-date record of all such losses and claims.

If you have any questions about whether information needs to be disclosed, or want additional help, please contact us.

Not Happy?

At JRI we take our obligations to you very seriously.  We think most issues can be resolved by talking to each other.

However, if you want to escalate an issue beyond your broker or the claims specialist please contact John Rae directly.

John will endeavour to resolve any issues as quickly as possible. If the issue is not resolved to your satisfaction he will refer you to our disputes resolution scheme provider, this service will cost you nothing and will help us resolve any disagreements.

Financial Disputes Resolution Service

Participant Number: FM5270
Telephone: 0508 337 337
Email: enquiries@fdrs.org.nz
Website: www.fdrs.org.nz
Address: Financial Disputes Resolution Service
  PO Box 2272


Need to Know

Your Privacy

By submitting your details, you will be deemed to agree to this privacy statement.
Failure to provide necessary personal information when requested may result in certain information not being sent to you.  The personal information you provide to JRI Limited will be used to provide you with further information about other services.
Any personal information that you provide to JRI Limited will be held by JRI Limited at 177 Courtenay Street, New Plymouth, New Zealand.
If you are an individual, the Privacy Act 2020 gives you the right to request access to, and correct your personal information that JRI Limited holds.
If you have any questions about this privacy statement or would like to access, correct and/or change the information collected at any time, please contact us.

Contacting us

You can contact us in person, by telephone, letter or email. Contact information for all our people is available on our website www.jri.co.nz.

Disclosure Statement

For all business and renewals your broker will provide you with a disclosure statement. This statement confirms you are working with a registered insurance broker and that you have access to a disputes resolution service.  You will find the link to thier disclosure statement as part of their email signature.

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