Target Market Determinations

As part of the Product Design and Distribution Obligations (DDO), insurers and other issuers of financial products (such as JLT Group Services Pty Ltd in the case of mutual discretionary trusts) are now required to create written Target Market Determinations (TMDs) for all products that require a Product Disclosure Statement (PDS).

TMDs describe a class of Retail Clients that are the insurer’s/ issuer’s target market for the product and specify any conditions and restrictions on the distribution of retail products, any events and circumstances that would reasonably suggest the TMD is no longer appropriate and the reporting periods for when complaints about the product should be provided to the insurer/issuer. The TMD must be publicly available.

From 5th October 2021, insurance/financial product distributors like Marsh must ensure that any Retail Client with a financial product which has a PDS is within the target market of that product for the insurer or product issuer the policy or other financial product is placed with.

The table below sets out all the TMDs created by insurers/issuers who underwrite/issue products distributed by the Marsh group of companies, including Marsh, Marsh Advantage, JLT Risk Solutions and via the Marsh McLennan Agency placement platform. These TMDs relate to Scheme, Facility and binder products and mutual discretionary trusts only. Please reach out to your carrier partners for TMDs for open market wordings.

TMDs are broken down by insurer/issuer below.

 

Accident & Health Insurance
 
 
AFA

 

 

AIG

 

 

Allianz
  • Business Package - MMA
  • Caravan & Trailer
  • Classic Plus Home
  • CMV - Sharing Economy
  • Landlords
  • Motor Vehicle - MMA
  • Motor Fleet - MMA
  • Prestige Home
  • Prestige Motor
  • All Allianz TMDs

 

 

Anchorage

 

 

AXA/XL

 

 

Berkshire Hathaway Specialty Insurance

 

 

Blue Zebra

 

 

CGU

 

 

CHU

 

 

Chubb
 
 
CIL

 

 

Club Marine

 

 

Dawes

 

 

Flex

 

 

Global Transport Insurance

 

 

HDI
  • Business Travel - MMA
  • Expatriate Health - Premium - MMA
  • Expatriate Health - Value Plus - MMA
  • Expatriate Health - Essential - MMA
  • Group Personal Accident - MMA
  • All other HDI TMDs

 

 

Heavy Motor Insurance Australia

 

 

JLT Group Services

 

 

Marsh McLennan Agency

 

 

MB Prestige

 

 

Nautilus

 

 

National Transport Insurance

 

 

QBE

 

 

SLE Worldwide Australia (underwritten by Chubb Insurance Australia)

 

 

SLE Worldwide Australia (Lloyds)

 

 

Strata Unit Underwriters

 

 

TIO

 

 

Vero
  • Commercial Motor - MMA
  • Farm - Private Client Services
  • Householders - Private Client Services
  • Motor Fleet Group - Affinity Auto
  • Motor Fleet - MMA
  • Motor Vehicle Domestic - Private Client Services
  • Public & Products Liability - Sharing Economy
  • All Vero TMDs

 

 

Zurich

Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.”