Financial Services Guide

Effective Date: 1 Nov 2023

This is the Financial Services Guide (FSG) for the following:

  •, a trading name of Cover Genius Pty Ltd, ACN: 159 983 598 (AFSL No. 490058) (agent), and the following authorised representative/s:
    – Tile, Inc., AR No. 1306770
  • Picnic Licensing Pty Ltd, ACN: 647 642 117 (AFSL No. 532540) (Picnic) and its authorised representative Picnic Services Pty Ltd, ACN: 638 145 418 (AR No. 1300248) (manager)

It is designed to assist you in deciding whether to use any of the financial services they provide, as described in this FSG, and includes information on how they are remunerated, how to make a complaint about their services and their professional indemnity arrangements

In this guide the terms “we”, “our”, and “us” refers to Picnic, the agent and manager or their authorised representatives and “you” or “your” refers to the member considering our financial services.

Financial services

Asservo Mutual Limited ACN 664 040 975 (mutual) is a discretionary mutual that offers miscellaneous mutual risk products (protections) to its members.

Cover Genius Pty Ltd has been appointed by Asservo Mutual to act as an intermediary for the mutual and to distribute the mutual’s protections.

The financial services provided by the agent will include dealing in protections by making offers to members to arrange for the issue, variation or disposal of the protections issued by the mutual.

The agent will also, through its Distributors, arrange for members to apply for protections, and provide general advice about the protections.

The agent can only provide this advice in general terms and cannot advise about your individual situation.

The mutual has appointed the manager to oversee the governance and financial management of the mutual. Picnic has appointed the manager as its authorised representative to deal in discretionary risk products and provide general financial product advice.

When we provide these services, we do so on behalf of the mutual, not for you.

For each protection you are offered the agent will provide you with a Product Disclosure Statement which sets out the details of the protection, including key risks and benefits, so please read this carefully to understand how you are protected.

We are an online business. You can contact us on the contact details set out below, but your instructions to us about the financial services we provide are provided through the online environments that we operate or that are operated by our Distributors.

Important relationships

The agent is the foundation member of the mutual and also has at least one director appointed to the mutual board.

The manager is a related company to Picnic. The manager also has at least one director appointed to the mutual board.

The authorised representatives are appointed by the agent or Picnic.


The agent may be paid a fee for the member services it provides to the mutual. This fee will be calculated depending on a number of factors including the number of members that are serviced by the agent and other services delivered to and on behalf of the mutual by the agent in each year.

The Distributors are paid a fee by the agent to distribute the protections on its behalf.

The manager is paid a fee for the governance and financial management of the mutual. This fee is a flat annual fee.

Picnic earns remuneration for providing its financial services authorisation, and other services to the manager and mutual.

For more information about the remuneration and other benefits received for the financial services provided, please ask the agent or Picnic (respectively) within a reasonable time of receiving this FSG and before you choose to buy this protection.


You can contact the agent’s Complaints Team at any time. Include your reference number (ending with “INS”) for a formal review of your claim. We will respond within 5 days. Click the button to send us an email.

If the complaint is not resolved to your satisfaction, you may refer the complaint or dispute to the Australian Financial Complaints Authority (AFCA). AFCA is a free dispute resolution service to consumers who may be in dispute with their protection provider. AFCA’s decision will be binding on us. Information about AFCA, and the types of disputes that it can consider, can be found at its website. Membership of AFCA is held by Picnic as the authorising licensee of mutual, manager and agent.

You can contact AFCA at:

Address: AFCA GPO Box 3 Melbourne VIC 3001
Phone: 1800 931 678

Professional indemnity insurance

Picnic, the manager and agent each have professional indemnity insurance in place which covers the manager, and agent respectively and their representatives (including their authorised representatives) for any errors or mistakes relating to their services.

This insurance meets the requirements of the Corporations Act 2001 (Cth) and covers the services provided by us. In the manager’s case, this includes after the manager and agent cease to provide services to the mutual, provided the manager and agent notify their respective insurers of the claim when it arises and this is done within the relevant protection period.

Privacy statement

We are committed to ensuring the privacy and security of your personal information in accordance with the Privacy Act 1988 (Cth) and the Australian Privacy Principles. We will only ever collect your personal information directly from you or through other entities listed in our Privacy Policy. We do not trade, rent or sell your information. You can access our Privacy Policy here.

Contact details

You can contact us on the details set out below:

Cover Genius Pty Ltd (agent) and the Distributors

Address: Level 19, 45 Clarence Street, Sydney NSW 2000

Cover Genius Pty Ltd (agent) and the Distributors

Asservo Mutual Limited (mutual)

Address: PO Box 21, Buddina, QLD, 4575

Picnic Services Pty Ltd (manager) and Picnic Licensing Pty Ltd (picnic)

Address: PO Box 21, Buddina, QLD, 4575