Liability Insurance

Whilst most client’s first thought is to insure their physical assets such as buildings, plant & equipment, and motor vehicles first, often it is the liability exposures of the business that present the most serious potential to cripple it.

There are several types of liability insurance available and no one policy will insure all the potential liability of a particular business. We can discuss your specific liability exposures and advise you on the appropriate covers you should have.

A selection of the more common types of liability insurance are as follows:

General Liability Insurance

• Also known as “Public Liability Insurance”. This insures a business’ legal liability for any third party property damage or personal injury it causes. Cover for legal defence costs are also included.

Professional Indemnity Insurance

• This insures a business’s civil liability arising from a breach of their professional duty of care, errors and omissions in their work or negligent advice. Cover for legal defence costs are also included.

Employers Liability Insurance

• This insures an Employer’s liability to their employees should they suffer personal injury in the course of their employment. Cover for legal defence costs are also included.

Statutory Liability

• This insures a business should they unintentionally breach one of the various non-criminal Acts of Parliament including the likes of the Resource Management Act, Health & Safety in Employment Act, Building Act, Commerce Act, Fair Trading Act and so on. The insurance covers legal defence costs, as well as any reparation and/or (in most cases) fines you become liable to pay.

Directors and Officers Insurance

• Cover against wrongful acts committed by directors and senior management whilst carrying out their duties associated with the management of the company. Cover includes the costs of legal representation incurred by individual directors and officers, as well as for settlements and judgements awarded against them.

Trustees/Association Liability Insurance

• These insurances provide a similar cover as the above Directors and Officers Insurance, however apply to Trustees or those managing incorporated societies as opposed to Companies.

Technology Liability

• This is a specialist cover for IT businesses which combines Public Liability and Professional Indemnity cover into the one insurance policy, with additional policy extensions specifically designed for the IT industry. Cover for legal defence costs are is also included.