Why NZI for your insurance?
We understand that every business is different so we work closely with brokers to create solutions that fit your specific needs. We can give you peace of mind through our cover, benefits and thorough claims service.
Expert risk management advice
Cover for developments; from planning through to completion
Right cover for the right price
Wide range of cover
Proven experience insuring Commercial Property Managers
Frequently asked questions
Your ‘Sum Insured’ is the total cost of replacing everything insured under your policy. As the policy holder you decide on the amount of your Sum Insured. It is important to consider that the costs to replace assets can increase over time, so you want to ensure your Sum Insured amount is regularly reviewed to reflect this.
It’s important to consider and manage the following risk areas:
- Fire safety: The leading causes of insurable losses as a result of fire are Electrical malfunction, hot work (welding, grinding, flame cutting), and contact with hot surfaces
- Health and safety
- Telecommunications and IT systems
- Environmental hazardous substances
- Electrical safety
- Deep fryer cooking (for those in the hospitality sector)
- General housekeeping (maintenance, cleaning etc.)
- Smoking on-site
- Waste management
The cost of a major loss incident is not only the direct loss or damage, but also the time spent dealing with the aftermath. A loss can cause disruption to work schedules, loss of income as well as impacts on your business reputation. You may face demolition, consent, relocation and temporary make safe costs, as well as rebuild fees.
- Environmental events
- Storage of combustible materials
- Performing high hazard processes
- Having security / fire fighting equipment
We recommend you start by analysing your business and listing known risks, it can help to consider:
- What are the common or likely risks that could impact your business?
- How likely is it to happen?
- How would you cope?
- How would it affect your staff, customers, suppliers, property, IT systems and processes?
- Is there anything you can do to prevent or minimise the risk of it happening?
- How much can you afford to lose if you can’t run your business for hours/days/weeks/months?
For more information check out our Risk Management Guide.