Our Commitment
Fair treatment of customers is at the heart of our business model and we are committed to identifying and supporting our vulnerable customers wherever we operate.
Fast Cover is committed to providing an extra level of care to customers who experience vulnerability. Fast Cover recognises that a person’s vulnerabilities can give rise to specific needs, and that those needs can change over time and in response to particular situations.
As such, our products and services are designed, marketed, priced and sold to meet the needs and provide value to their defined target market. Regular reviews of products are undertaken so our products and services continue to provide good customer outcomes at each stage of the customer journey.
Who is a Vulnerable Customer?
A vulnerable customer is someone who, due to their personal circumstances, is especially susceptible to harm, particularly when a firm is not acting with appropriate levels of care. Vulnerability may be due to a range of factors including, but not limited to:
- Age
- Disability, chronic illness or other health issues
- Mental Health Conditions
- Physical Health Conditions
- Family Violence
- Language barriers
- Literacy barriers
- Cultural background
- Aboriginal or Torres Strait Islander status
- Remote location
- Financial abuse or distress
- Natural disaster
- Bereavement
- Cognitive impairment, or
- Other circumstances causing significant detriment
Supporting our Vulnerable Customers
In order to achieve our objectives in identifying and supporting vulnerable customers, we ensure that our Employees, and the Employees of our relevant business partners, are adequately trained on an ongoing basis. The training combined with our internal policies help our Employees to identify and prioritise customer vulnerability. This includes:
- Understanding if a customer may be vulnerable and take vulnerability into account when dealing with the customer
- Determining how best, and to what extent, we can support a vulnerable customer
- Taking into account a customer’s particular needs or vulnerability, and
- Engaging with a vulnerable customer in a sensitive, dignified, respectful and compassionate manner. This may include escalating and arranging additional support and referring the customer to specialised people or services.
We encourage you to inform us about any vulnerability and if you require additional support to enable us to:
- Work with you to find a suitable, sensitive and compassionate way to proceed as early as practicable, whilst protecting your right to privacy, and
- Identify that additional support is needed, whether from ourselves or externally.