Skip to content
iCareInsurance
中文
021 1652 333 Book a conversation

Commercial insurance

Cover the business that took years to build.

A useful starting question is: if an insured event happened next week, which part of the operation could stop? Record the people, assets, contracts and revenue involved before comparing policy terms.

What's in the stack

Six cover topics to examine against the way your business actually operates.

Commercial insurance is rarely one policy. It may combine liability, material damage, business interruption, professional indemnity, contract works or cyber cover. Availability, definitions, limits and exclusions depend on the insurer and policy wording; provider scope must be confirmed in the disclosure that applies to any advice.

Commercial insurance conversation — iCare Insurance, Auckland
  1. 01 · Liability
  2. 02 · Material damage
  3. 03 · Business interruption
  4. 04 · Professional indemnity
  5. 05 · Contract works
  6. 06 · Cyber liability

01

Liability

May respond to certain third-party claims arising from operations or products, subject to the liability type, policy wording, limits and exclusions.

  • Public & products liability — claims by customers, visitors, neighbours
  • Statutory liability — defence costs and legally insurable liabilities; fines may be excluded or uninsurable
  • Employers liability — injury to staff outside the ACC scheme
  • Directors & officers (D&O) — personal liability of directors / senior managers

02

Material damage

May cover specified physical assets against insured events. Check the insured property, valuation basis, sub-limits and exclusions in the policy wording.

  • Commercial building, plant & equipment, stock & inventory
  • Tenant fit-out, signage, glass, refrigeration & specialist gear
  • New replacement value, indemnity & agreed value options
  • Natural-disaster sub-limits explained in plain language

03

Business interruption

May respond to defined financial loss while a business is interrupted after an insured event, subject to the policy wording, calculation method and indemnity period.

  • Loss of gross profit, ongoing wages & fixed overheads
  • Additional increased cost of working (ICOW)
  • Indemnity periods sized to realistic rebuild timelines
  • Dependency cover for key suppliers, customers or utilities

04

Professional indemnity

May respond to certain civil claims arising from professional services. Definitions, retroactive dates, defence costs and exclusions need to be checked.

  • Civil liability for breach of professional duty
  • Defence costs & investigation costs
  • Retroactive cover and run-off cover on exit
  • Combined PI + cyber wordings where available

05

Contract works

Sometimes called construction all-risks cover. The insured works, materials, equipment, liability and policy period depend on the selected wording.

  • Permanent works, temporary works & materials on site
  • Plant & hired-in equipment
  • Public liability arising out of construction operations
  • Single-project and annual blanket programmes for builders

06

Cyber liability

May respond to specified cyber incidents and liabilities. Check incident triggers, security conditions, sub-limits, exclusions and response providers.

  • Incident response, forensics & legal costs
  • Business interruption from a cyber event
  • Cyber extortion and ransom payments where lawful
  • Notification costs, regulator response & third-party claims

Process

How a commercial review actually runs

At renewal, compare the current business activities and records with the policy rather than assuming last year's information is still accurate.

  1. 01

    Risk discovery

    We walk through the business — sites, staff, revenue, contracts, IT, vehicles, equipment, who you owe money to and who owes you. The point is to map the exposures, not sell a product.

  2. 02

    Market submission

    If advice proceeds, the submission and markets considered depend on the agreed scope. Ask for a written record of which providers were considered, which were not, and why.

  3. 03

    Recommendation

    A written recommendation should explain material trade-offs such as sums insured, excesses and exclusions. Check the insurer's final documents before deciding whether to proceed.

  4. 04

    Review & claims questions

    At renewal, compare the policy with the business as it operates now. If a claim occurs, ask what assistance is available, who makes the decision and which records the insurer requires.

Industries

Business sectors that may need different questions

If your sector is not listed, ask what information an adviser or insurer would need. Availability, wording, limits and exclusions can differ by trade and insurer.

  • Hospitality — cafés, restaurants, takeaway, catering
  • Retail & wholesale — bricks-and-mortar and e-commerce
  • Trades & construction — builders, electricians, plumbers, subcontractors
  • Professional services — consultants, accountants, designers, IT
  • Manufacturing & light industrial
  • Healthcare practices — dental, allied health, clinics
  • Property owners — residential rental portfolios and commercial premises
  • Importers, distributors and small logistics operators

Commercial cover is general advice on this page.

The information above is general in nature. A personal recommendation requires a review of your business, contracts, people and policy wording. Before acting, ask for the current written disclosure information that identifies the adviser, FAP, provider scope, payment arrangements and complaints process.

Start a conversation

Start with the questions that matter to your situation.

Request a conversation in English or 中文. Confirm the available format, timing, scope and any applicable fee before the meeting.

Book the conversation yvonne@icareinsurance.co.nz

If the form fails, use the email address above.