Liability Insurance

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Broadform Liability - this combines Public and Product Liability

Covers your legal liability to pay compensation to third parties for personal injury or damage to their property.

E.g.: A tradesman failed to install ceiling screws correctly. These screws fell out into a newspaper-printing press, damaging the drum and shutting down the machine for four days. The tradesman could be liable for the cost of repairs and lost production for the four days totalling nearly $500,000.

Additional features include:

Defence costs, additional to the specified liability sum insured,
Mechanical plant- covers your liability arising from the use of a tool of trade or item of mechanically propelled plant whilst being operated for its use,
Compensation for your time appearing in court, at a rate of $250 per day, up to a maximum of $7,500,
Tenant's liability - damage you cause to premises rented by you but not owned by you,
Landlord's liability - damages caused to a third party or their property as a result of any property you own, but don't occupy,
Property under your care, custody or control up to $250,000, provided you are not receiving reward (e.g.: money) for their storage,
Your liability under the Forrest and Rural Fires Act for costs incurred by any fire authority and for costs claimed by any other party in protecting their property, up to $250,000.

Employers Liability

Covers claims against employers, made by employee, for injury or illness suffered in the course of their employment, that are not covered by the Accident Compensation Legislation (ACC).

E.g.: Mental injury, nervous shock, fright or stress.

The Insurance company will pay the defence costs and all sums that you become legally liable for , up to a selected limit, as a result of a claim for damages made against you.

The cost of investigating and defending any claim or prosecution is equally covered by Employers Liability.

Statutory Liability

Covers you for fines and defence costs imposed on you for inadvertent offences under Acts of Parliament. The most common breaches affecting New Zealand Businesses occur against Health and Safety (orders for reparations and defence costs only), Fair Trading Act, Building Act and Resource Management Act.

E.g.: Your processing plant accidentally leaks toxic substances into a nearby stream, even though your plant is constructed to the required standards. You could be held responsible and fined for pollution under the Resource Management Act.