What is Australian Securities and Investments Commission (ASIC)?

The Australian Securities and Investments Commission is the body that authorises companies to give financial advice, sell financial products and operate in Australia's markets. It also keeps a public register of the companies that hold a licence. A licence number is the quickest way to check that a provider is authorised and to see the details ASIC records against it, such as the company name and its status.

Two examples from insurers and providers in this comparison: Cover-More Australia lists AFSL 232507 and Divitia lists 412113. Neither number alone tells you anything about cover or claims; it tells you who is regulated and where to look them up.