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Target Market Determinations

As part of the Product Design and Distribution Obligations (DDO), insurers and other issuers of financial products 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 and financial product distributors like Marsh Advantage Insurance 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.

For all TMDs, please click here.

LCPA 24/050

Marsh Advantage Insurance Pty Ltd (ABN 31 081 358 303, AFSL 238369) (“MAI”) arranges the general insurance (i.e. not the Discretionary Trust Arrangement) and is not the insurer.

This page contains general information and does not take into account your individual objectives, financial situation or needs. For full details of the terms, conditions and limitations of the covers, refer to the specific policy wordings and/or Product Disclosure Statements available from MAI on request. MAI makes no representation or warranty concerning the application of policy wordings or the financial condition or solvency of insurers or re-insurers. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage. Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors.

The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). Any advice or dealing in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226 827) (“JLT”). JGS and JLT are businesses of Marsh McLennan. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions.