A Target Market Determination is a document which has been designed to help our customers, representatives and our staff understand who the Leased Motor Vehicle Insurance is most suitable for based on their needs, objectives, and financial situation (target market), and any conditions around how the product can be distributed to our customers.
It also describes the events or circumstances where we may need to review the Target Market Determination for a financial product.
It is a requirements to have Target Market Determinations under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019.
This is to make sure our customers are kept at the centre of the approach to the designing and distributing financial products.
From 5 October 2021, the following Target Market Determinations are in place with review triggers and reporting requirements.
Target Market Determination for Leased Motor Vehicle Insurance products:
