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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 5 October 2021, insurance and financial product distributors like Marsh must ensure that any Retail Client with a financial product that has a PDS is within the target market of that product for the insurer or product issuer that 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





Allstate Farm






Berkshire Hathaway Specialty Insurance


Blue Zebra








Club Marine






Global Transport Insurance


  • 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


MB Prestige




National Transport Insurance




Rural Affinity


SLE Worldwide Australia (underwritten by Chubb Insurance Australia)


SLE Worldwide Australia (Lloyds)


Strata Unit Underwriters




360 Underwriting


  • 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

Victor Insurance Australia P/L


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.”