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SYDNEY NSW 2000
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FAX: (02) 9253 3001
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WALLSEND NSW 2287
TEL: (02) 4949 9000
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TEL: 0420 956 873
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AUST. CAPITAL TERRITORY
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VICTORIA
MELBOURNE
LEVEL 2, 181 FITZROY ST
ST KILDA VIC 3182
TEL: (03) 9536 7400
FAX: (03) 9536 7477
NORTHERN VICTORIA
TEL: 0427 370 427
FAX: (03) 5480 9733
TASMANIA
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BRISBANE
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BRISBANE QLD 4000
TEL: (07) 3854 3900
FAX: (07) 3854 3901
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TEL: 0407 751 688
FAX: (07) 5479 3233
SOUTH AUSTRALIA
ADELAIDE
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PARKSIDE SA 5063
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FAX: (08) 8273 5701
WESTERN AUSTRALIA
PERTH
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COLLECTIONS
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Company News
Message From Stuart White, Managing Director
I know many of us say this every year, but with three-quarters of 2009 already behind us, the year really does seem to be flying by. The global economy, Australia in particular, is in a better position than many predicted twelve months earlier, after the collapse of Lehman Brothers on 15 September, 2008. Whilst our economy still has plenty of recovering to do, the situation appears more promising
The premium funding industry has been granted an exemption from the collection and verification requirements of the Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) legislation. This is a great result as the compliance processes required would have been onerous and costly, and disproportionate to the AML/CTF risk presented by the product. However, premium funders must comply with the remaining requirements of the law, including having an AML/CTF program and reporting suspicious matters.
Pacific is in great shape and I am really excited about our position in this evolving economic environment. Over the past twelve months I have learned to live by the maxim...'expect the unexpected'. I think the next twelve months will be no different. As such, more than ever we are focused on getting your perspective and listening to you and your customers. Thank you to everyone who earlier this month took part in our annual intermediary survey. The response was overwhelming and our largest ever. We are now reviewing the feedback to determine key areas for action. I look forward to communicating more on this in the coming months.
Finally it was great to meet and catch up with so many of you at the recent NIBA Convention.
All the best for the last quarter of 2009.
Soapbox Update
The Pacific Soapbox continues to receive great suggestions and ideas on how we can provide better systems and services to you, our intermediaries.
www.pacificpremium.com.au/soapbox
Pacific's Survey - Thanks For Your Feedback
Pacific recently conducted our annual intermediary survey. We received a great response with 498 intermediaries taking part - our highest number ever. We appreciate that you took the time to tell us what you think, including what we should keep doing and where we need to improve. A feedback review process in now underway to determine key areas for action. We will keep you posted on our plans and progress in future editions of this newsletter.
One Minute With.... John Doig NSW State Manager
Where were you working most recently before starting with Pacific?
I was working for Westpac Banking Corporation as a State Manager for NSW & Queensland in their Third Party Distribution channel. The focus of the team was to increase Consumer Lending business from intermediaries with the key relationships being with aggragators, Financial Planning and Accountancy Groups.
How are you settling in at Pacific?
I started with Pacific in mid June. The bueinss of Premium Funding is new to me to I'm at the base of a steep learning curve! Pacific has a vbery supportive environment and the team is very experienced which is making the induction process much easier.
What do you see as the major challenges and opportunities for you and your branch in the second half of this year?
The challenge is to keep growing profitable market share and to differentiate ourselves in a competitive market. it's about us doing the basics exceptionally well - that is we need to be always delivering a serv ice proposition that is second to none; having relationships with our intermediaries that are mutually beneficial and where we really understand their needs by ensuring that we make it easier for our customers to deal with us.
Outside of work - what do you spend your time doing?
I'm married and have three children that are ages 19, 16 and 11 - so I don't get too much free time! We like to travel as a family and our most recent trips have been to Paris, Italy and Far North Qld. I play golf a couple of times a month - very badly!!
Good News for Credit Card Customers
Do your client's pay their premium by credit card? If so, good news. At Pacific we are working to secure more benefits for you and your clients. We are pleased to announce that our merchant fees for Visa and Mastercard have reduced from 1% to 0.80%. With already one of the lowest fees in the market, this makes repayment by credit card for your clients, better than ever.
The lower rate applies to all instalments from 20 July 2009 for both new and existing loans.
As an indication, for a client with repayments of $10,000, this amounts to a $20 monthly reduction or a total of $200 for a ten instalment loan.
If you have any questions, please contact your local Account Manager or branch on 1300 055 068.
*Credit card payments subject to policy conditions. The Amex rate remains unchanged at 2.75%
Product News
AIMS NSW targets the Hunter Valley
Pacific was a proud sponsor at the AIMS NSW and IBNA Day held recently in the picturesque Hunter Valley.
Around 60 delegates attended, including Ray Zammit and Corina Mayo from Pacific. Grant Burley, Pacific's Chairman was a key note speaker, and spoke about Pacific's model for Enhancing Business Performance.
The highlight of the conference was a progressive dinner, where seats were changed every five minutes, allowing the whole group a great opportunity to meet and mingle.
Most were able to enjoy some time during the conference either playing golf, or taking in some of the local attractions and doing a bit of wine tasting.
Congratulations to AIMS NSW on a great conference.
Bright Lights of the 2009 NIBA Convention
The 2009 NIBA Convention 'Bright Lights Big City' was held September 19-22 in Sydney. Pacific were proud to support and exhibit at the Convention again this year, which was attended by over 800 delegates.
The opening session of NIBA 2009 was heralded by James Morrison which was a fantastic way to kick things off. An evening at Luna Park showcased Sydney at its' best, and was another highlight especially for the interstate visitors.
It was great to see so many of our supporters visit the Pacific stand and take part in our Global Knowledge Quiz! Congratulations to Peta Warby of Wymark Insurance Brokers who put her knowledge to the test and won our Navman GPS prize!
Congratulations to NIBA on a successful Convention.
Above from left: Brad Dixon, Gordon Sweeney, Peta Warby, Wayne Williams and Lachlan Haig
Above from left: Mike McDowell, John Doig and Maxine McDowell at the Pacific stand during NIBA.
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