Conflict of Interest Policy

Last updated: 4 September 2026

BackedSure is a division of Covered Financial Services, an authorised Financial Services Provider, FSP number 54871. This Conflict of Interest Policy summarises how conflicts are identified, avoided, managed, disclosed and monitored in relation to financial services provided through BackedSure.

Purpose

The purpose of this policy is to help ensure that clients receive fair, objective and appropriate service and that our interests, the interests of our representatives, associates, product suppliers or service providers do not improperly influence outcomes for clients.

What Is A Conflict Of Interest

A conflict of interest is any situation in which an actual or potential interest may influence, or may be perceived to influence, the objective performance of our duties to a client. A conflict may be financial or non-financial, direct or indirect, actual or perceived.

Examples Of Potential Conflicts

• Receiving commission, fees or other remuneration from an insurer or underwriting manager.
• Having a preferred insurer, underwriting manager or service provider relationship.
• Receiving training, technology, marketing support, hospitality or other immaterial financial interests from a product supplier.
• Placing business with a supplier where an ownership, commercial or personal relationship exists.
• A representative handling a matter involving a family member, associate or business in which they have an interest.
• A complaint, claim or renewal decision that may affect our remuneration or commercial relationship.

Management Measures

• We aim to avoid conflicts where reasonably possible.
• Where a conflict cannot be avoided, we manage it through disclosure, role separation, approval controls, supervision or other appropriate measures.
• We disclose material conflicts to affected clients in a clear and timely way.
• We keep records of identified conflicts and the steps taken to manage them.
• We monitor remuneration, supplier relationships and gifts or benefits for conflict risk.
• We require representatives and staff to act honestly, fairly, with due skill, care and diligence, and in the interests of clients.

Remuneration

BackedSure may earn commission, binder fees, administration fees, service fees or other lawful remuneration in connection with insurance products and services. The nature of remuneration will be disclosed where required and can be requested from us.

Financial Interests And Gifts

We do not permit financial interests that are prohibited by FAIS conflict-of-interest rules. Any allowable immaterial financial interests, gifts or benefits must be reasonable, recorded where required and must not compromise client outcomes.

Product Supplier Relationships

We may work with selected insurers, underwriting managers and administrators based on product suitability, underwriting appetite, service capability, pricing, claims handling, operational efficiency and regulatory standing. We do not allow these relationships to override fair treatment of clients.

Disclosure To Clients

Where a material conflict exists or may reasonably be perceived to exist, we will disclose the nature of the conflict, its possible impact, and the steps taken to manage it. Disclosure does not by itself cure a conflict; it forms part of a broader management process.

Roles And Responsibilities

Management is responsible for implementing this policy, maintaining appropriate controls and reviewing conflict risks. Representatives and staff must report actual or potential conflicts promptly and must not proceed with conflicted conduct unless the conflict has been assessed and managed.

Reporting Concerns

Clients who believe a conflict has affected their service may contact us at hello@backedsure.co.za and may use our Complaints Process if they are dissatisfied with the response.