BUSINESS INSURANCE PRODUCTS

DISCLAIMER

The information provided below is for general informational purposes only and does not constitute financial advice. Insurance coverage, terms, exclusions, and limits vary by policy and insurer. For specific advice tailored to your individual circumstances, please contact us directly. Marble Insurance is not responsible for any misunderstandings arising from reliance on this information.

Material Damage - (Business Assets)

  • Material damage insurance is coverage that protects against financial losses resulting from physical damage or destruction to tangible properties, assets, or possessions. It includes protection for buildings, contents, machinery, vehicles, and more, caused by covered perils like fire, theft, and natural disasters.

Business Interruption

  • Business interruption insurance is a crucial risk management tool for businesses, providing financial protection during unexpected disruptions caused by events like fires, natural disasters, or equipment breakdowns. It compensates businesses for lost income based on their financial records and projected earnings during the interruption period, including coverage for gross profit. The policy also addresses ongoing operating expenses, helping businesses maintain stability during temporary closures. The coverage starts when business activities are halted and continues throughout the restoration period, aiding in recovery, meeting financial obligations, and reducing downtime, ultimately supporting businesses in their ability to bounce back from crises.

Commercial Motor Vehicle Insurance

  • A commercial vehicle insurance policy covers vehicles used for business purposes for loss, accidental damage, and legal liability. If your business requires the use of a commercial vehicle to transport employees and equipment, the risk of accidents, injury, property damage, loss, and theft comes with every trip. Commercial motor vehicle insurance can be used to cover cars, trailers, trucks, Utes, vans, buses, diggers, and light machinery.

    (Optional) Loss of use is an extension option available for commercial motor vehicle insurance which provides financial compensation to businesses for the expenses of renting a replacement vehicle while their primary commercial vehicle is being repaired due to a covered loss. You select the daily rate to rent another vehicle (e.g., $200 per day) and also the amount of days you would like to have covered (e.g., 60 days). This cover is especially important to transport businesses that have contractual obligations to provide a vehicle regardless of if their vehicle is being repaired, and it ensures they can continue operations during repairs.

Statutory Liability

  • Provides legal defense protection and cover for fines for some breaches of statutes, such as the Resource Management Act, Financial Reporting Act, and Building Act. Occupational Health & Safety legislation prevents parties from insuring for workplace health and safety fines. Cover typically includes defense costs and is designed for defending unintentional breaches of NZ Acts of Parliament.

Employers Liability

  • An Employers' Liability (EL) policy protects employers against claims brought by their employees for workplace-related injuries or conditions that are not covered by the Accident Compensation Corporation (ACC). Employers may face liability for a range of situations where ACC does not provide cover, including:

    • Stress or mental health conditions caused by specific workplace incidents, such as harassment or overwork.

    • Depression, anxiety, or emotional distress resulting from traumatic workplace events.

    • Disease or infection linked to workplace exposure, such as issues caused by air conditioning systems or passive smoking.

    • Claims from bystanders who witness a traumatic workplace injury or fatality.

General Liability

  • General liability refers to a crucial form of insurance coverage designed to protect individuals and businesses from various financial risks arising from their day-to-day operations. It offers a broad scope of protection, shielding policyholders from potential legal claims and financial losses resulting from bodily injuries, property damage, or personal injury caused to third parties.

Management Liability

  • Management liability insurance protects you and your company against the risks and exposures of running the company (e.g., liability for mismanagement). Covers can include Directors & Officers, Fidelity/Crime, Employment Practices, General Liability, Statutory Liability, Employers Liability, Consequential Loss, Prosecution Legal Expenses (Criminal), and Internet Liability.

Professional Indemnity

  • If your business offers professional advice or services, this policy protects against an allegation of negligence resulting in financial loss or a breach of your professional duty. Solutions are available for a range of professions, including lawyers, accountants, engineers, architects, real estate agents, management consultants, and medical and health workers. This insurance covers both the cost of claims for compensation that the business is legally liable to pay and also the costs of defending the claim.

Cyber Liability

  • Cyber liability insurance can protect businesses from financial losses resulting from cyber threats and data breaches. It covers expenses for investigations, legal matters, customer notification, data restoration, and potential liability claims, helping businesses recover and mitigate the impacts of cyber incidents while safeguarding their reputation.

Marine Cargo Insurance

  • If your business involves transporting goods by sea, air, or land, this policy protects against loss or damage to cargo during transit. Solutions are available for various types of goods, including perishables, high-value items, and hazardous materials. Marine cargo insurance covers both the cost of the damaged or lost cargo and the costs associated with claims processing and legal defense.

Contractors Plant and Machinery Insurance

  • If your business uses machinery and equipment on construction sites, this policy protects against damage or loss of plant and machinery used in construction projects. Solutions are available for various types of equipment, including cranes, excavators, bulldozers, and scaffolding.