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Target Market Determinations

As part of the Product Design and Distribution Obligations (DDO), insurers and other issuers of financial products (including their agents such as Victor) are, with effect from 5 October 2021, 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 (and their agents’) 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/their agents. The TMD must be publicly available.

From 5 October 2021, insurance/financial product distributors (being the insurance brokers that distribute the insurer’s/issuer’s/their agents’ financial products) 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 (or their agents) the policy or other financial product is placed with.

The table below sets out all the TMDs created by insurers/issuers who underwrite products where Victor acts as their agent.

TMDs are broker down by insurer/issuer below.

Chubb (Australian Golf Insurance Product)

Golf Voluntary workers – Victor

© Marsh Pty Ltd. All rights reserved. Victor Insurance Pty Ltd ABN 11 146 607 838 (Victor Insurance) is an underwriting agency and an Authorised Representative (No. 403803) of Marsh Pty Ltd ABN 86 004 651 512 AFS Licence No. 238983 (Marsh) and is not an insurer. 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 Victor Insurance on request. Full information can be found in the Marsh Financial Services Guide. Victor Insurance is a business of Marsh McLennan.