When it comes to financial services—especially insurance broking—trust and transparency are essential. One key regulation designed to protect clients and promote ethical conduct is the No Conflict Rule . At Auswide Insurance Brokers , based in Seven Hills , we’re committed to helping you understand the principles that guide our profession. In this post, we’ll break down what the No Conflict Rule means, why it matters, and how it safeguards your interests. What is the No Conflict Rule? The No Conflict Rule refers to a legal and ethical obligation placed on financial professionals, including insurance brokers, to avoid conflicts between their own interests and those of their clients. In simple terms, professionals must not allow their personal or business gain to interfere with the advice or services they provide. Under Australian law—particularly the Corporations Act 2001 and ASIC regulations—financial service providers must: Act in the best interests of their clients Prioritise the ...
Introduction If you're operating as a sole trader in Australia , you're likely juggling everything from sales and service to admin and invoicing. But one area many sole traders overlook is insurance —specifically, public liability insurance . So the question is: Do you really need it? The short answer is: Yes, in most cases—it's highly recommended, even if not always mandatory. This guide will explain everything you need to know— in plain English —about public liability insurance and how it protects you and your business. What Is Public Liability Insurance? Public liability insurance is designed to protect your business if your activities cause: Injury to a member of the public Damage to someone's property It covers legal fees, compensation claims, and settlement costs—expenses that can quickly run into tens or hundreds of thousands of dollars . Example: You're a mobile mechanic and accidentally damage a customer's car. Example: A client trips over your...