Australia

Target Market Determinations

As part of the new Product Design and Distribution Obligations (DDO), insurers are now required to create written Target Market Determinations (TMDs) for all  products which are accompanied by a PDS.

TMDs describe a class of retail clients that comprise the target market for the product, specify any conditions and restrictions on the distribution  of retail product, specify events and circumstances that would reasonably suggest the TMD is no longer appropriate, and specify reporting periods for when complaints about the product should be provided to the insurer. The TMD must be publicly available.
 
From October 5. 2021, Distributors such as Aon must ensure that any retail client that is sold a product with a PDS, is within the target market of that product.

We have accordingly prepared the table below setting out all the TMDs created by the insurers underwriting products distributed by the Aon group of companies, including Aon Risk Services, Affinity Insurance Brokers and HIAIS. These TMDs relate to Aon Scheme, Facility and Binder products only. Please reach out to your carrier partners for TMDs for open market wordings.
 
These are broken down by insurer below for your reference.
 

 

AFA
Community Groups Personal Property Motor Excess
Vertex Business Travel
Vertex Expartiate
Vertex Group Personal Accident
Vertex Inpatriate
Vertex Journey
Vertex Voluntary Workers
AHI
Journey Group Personal Accident (NFP)
Motor - Non Owned and Owned (NFP)
Musicians Personal Accident
Music Teachers Personal Accident
Vertex Business Travel
Vertex Expatriate
Vertex Group Personal Accident
Vertex Inpatriate
Vertex Journey
Vertex Voluntary Workers
Voluntary Workers Group Personal Accident (NFP)
Work Experience Personal Accident (NFP)
AIG
Vertex Business Travel
Vertex Expatriate
Vertex Group Personal Accident
Vertex Inpatriate
Vertex Group Journey Accident
Vertex Voluntary Workers
Allianz
Entertainment or Camera Equipment
Vertex Commerical Motor
Other Allianz TMDs
Ansvar
Child Care 
Community Services Organisations Insurance (NFP)
Disability Care (NFP)
Arch
Vertex Business Travel
Vertex Expatriate
Vertex Group Personal Accident
Vertex Inpatriate
Vertex Journey
Vertex Voluntary Workers
AXA
Fine Arts High Net Worth Collector Policy
Fine Art Private Collectors
BHSI
Group Journey Accident (NFP)
Motor Non Owned (NFP)
Vertex Business Travel
Vertex Expatriate
Vertex Group Personal Accident
Vertex Inpatriate
Vertex Journey Accident
Vertex Voluntary Workers
Voluntary Workers Group Personal Accident (NFP)
CCI
Vertex Commercial Motor
CGU
Aon Rural Insurance
Farm Motor
API Blue Ribbon Home Insurance
API Boat Insurance
API Caravan Insurance
API Home and Contents Insurance
API Landlords Insurance
API Private Motor Insurance
Defigo Commercial Motor
Home and Contents
Motor Fleet
Vertex Commercial Motor
Property One 
Link to CGU website
CHU
Strata
Chubb
Aon Student Accident School and Sport
Chubb Masterpiece
Community Theatres VWPA
Edupac Staff PA
Edupac Student PA
Edupac Voluntary Workers PA
ePlacement Business Travel
ePlacement Expatriate
ePlacement Group Personal Accident
eplacement Individual  Personal Accident
ePlacement Inpatriate
ePlacement Journey
ePlacement Voluntary Workers
Medipack Diamond Inpatriate Medical Insurance 
Medipack Generic Inpatriate Medical Insurance 
Medipack Platinum Inpatriate Medical Insurance
Vertex Business Travel
Vertex Expatriate
Vertex Group Personal Accident
Vertex Inpatriate
Vertex Journey Accident
Vertex Voluntary Workers
Club Marine
Private Pleasurecraft
Dawes
Private Motor
GT
Vertex Heavy Motor
HDI
Vertex Business Travel
Vertex Group Personal Accident
Vertex Expatriate
Vertex Inpatriate
Vertex Journey Accident
Vertex Voluntary Workers
Hiscox
Fine Art Private Collectors
Fine Arts High Net Worth Collectors
 
Liberty
Vertex Business Travel
Vertex Expatriate
Vertex Group Personal Accident
Vertex Inpatriate
Vertex Journey Accident
Vertex Voluntary Workers
Longitude
Strata
Mansions
Home and Contents
MB
Private Motor
Nautilus
Private Pleasurecraft
Norwegian Hull
Private Pleasurecraft
NTI
NTI Top Plus Heavy Motor
Vertex Heavy Motor
 
QBE
Defigo Commercial Motor
Leisure Bed & Breakfast
Rowing Australia Club Rowing Craft
Rowing Australia Individual Rowing Craft Policy
Self Storage ISR/Customer Goods Insurance
Vertex Business Travel
Vertex Commercial Motor
Vertex Expatriate
Vertex Group Personal Accident
Vertex Heavy Motor
Vertex Inpatriate
Vertex Journey Accident
Vertex Voluntary Workers
Vertex Edupac Motor
Kennards Self Storage
Fleet and Heavy Haulage
Link to Other QBE TMDs
SLE
Rugby Australia SADF
SUU
Strata
Vero
Music Retail
Photographers
Orix - Vero Motor Fleet
Vertex Commercial Motor
Other Vero TMDs
Zurich
Aon Student Accident School & Sport
Defigo Commercial Motor
Vertex Business Travel
Vertex Commercial Motor
Vertex  Expatriate
Vertex Group Personal Accident
Vertex Heavy Motor
Vertex Inpatriate
Vertex Journey Accident
Vertex Voluntary Workers



© Aon Risk Services Australia Limited ABN 17 000 424 720

The information contained in this document is general in nature and should not be relied on as advice (personal or otherwise) because your personal needs, objectives and financial situation have not been considered. Before deciding whether a particular product is right for you, please consider the relevant Product Disclosure Statement (if applicable), the Target Market Determination and full policy terms and conditions available from Aon on request. All representations in this document in relation to the insurance products we arrange are subject to the full terms and conditions of the relevant policy. Please contact us if you have any queries.