Instalment payment terms

Last changed on 12 November 2020

For certain Products we are able to offer you the opportunity to pay the premium and fees (Premium) by monthly instalments. We administer such instalment payments and collection on behalf of the insurer. If you elect to pay the Premium by monthly instalments then you agree to the terms and conditions set out in these Instalment Payment Terms (Terms).

1. GENERAL

  1. The first instalment of Premium is due immediately at the time that the insurance policy is acquired from us (whether through the Website, by calling us or otherwise), then followed by eleven (11) monthly instalments due on each monthly anniversary of the date that the insurance policy was acquired.
  2. In the event of an instalment of Premium remaining outstanding for at least a one (1) month period after its due date, we or the insurer may cancel (on notice to you) the policy in accordance with section 62 of the Insurances Contract Act 1984, and the insurer (or we on their behalf) will send you notices in accordance with sections 56 and 57 of the General Insurance Code of Practice.
  3. In the event of an instalment of Premium remaining outstanding for a period of at least fourteen (14) calendar days after its due date, we or the insurer may refuse to pay a claim for incidents that occur after those fourteen calendar days, in accordance with section 39 of the Insurance Contracts Act 1984.
  4. In the event that an insurance policy is cancelled due to non-payment, any refund rights are as stated in the insurance policy or otherwise as provided by law.
  5. On cancellation of any insurance policy paid by monthly instalments, the commissions and fees paid to IMAR are non-refundable and you may be liable for any outstanding commissions and fees payable to IMAR. 
  6. You must ensure at all times that all of your details (including account details) with us are kept up to date.
  7. Any refunds that become payable to you will only be paid back to the account you originally paid with.

2. CREDIT CARD AUTHORITY

  1. If you elect to pay the Premium instalments by credit card, then you hereby authorise us to arrange (through our third party provider, Fat Zebra Pty (ACN 154 014 785)), for funds to be charged to your nominated credit card, to pay the Premium instalments in accordance with clause 1.
  2. You must ensure that there are sufficient clear funds available on your credit card account to allow a payment to be made in accordance with clause 2(a). If there are insufficient funds you may be charged a fee and/or interest by your financial institution.

3. DIRECT DEBIT AUTHORITY

If you elect to pay the Premium instalments by direct debit, then you hereby request and authorise us to debit and charge (through the “Bulk Electronic Clearing System”) the bank account nominated by you, to pay the Premium instalments in accordance with clause 1, and on the terms of the Direct Debit Service Request Agreement.

4. DEFINITIONS

In these Instalment Payment Terms:

  1. “IMAR”, “us”, “our” or “we” means Arthur J. Gallagher & Co (AUS) Limited (ABN 34 005 563 920) trading as “Insurance Markets and Rewards (imar)”;
  2. “Products” means the insurance products that may be purchased on the Website, or otherwise through us;
  3. “you” or “your” means the user of the Website, and/or the purchaser of the Products and/or Services, and where such use and/or purchase is on behalf of entity (such as a company), partnership or trust, then “you” and “your” will also mean that entity, partnership or trust; 
  4. “Website” means www.imar.com.au and its sub-domains.