The programme is arranged by AON with NZI and continue to support and provide extensive cover negotiated exclusively for our NZ LAW members.
Summary of covers
The programme is arranged by AON with NZI and continue to support and provide extensive cover negotiated exclusively for our NZ LAW members.
Professional Indemnity Insurance
Professional Indemnity Insurance is designed to protect NZ Law firms and individuals from claims made against them by third parties alleging negligent acts, errors or omissions in the course of their normal business activities, which have caused the third party to suffer financial loss. The NZ Law Professional Indemnity Insurance policy wording extends to include cover for Outside Trustee and Director activities.
Public Liability Insurance
A Public Liability policy is designed to cover claims arising from property damage or bodily injury. This insurance can be extended to cover punitive and exemplary damages.
Employers Liability Insurance
Employers Liability Insurance is designed to protect against loss to the firm resulting from claims made by employees suffering personal injury in the workplace that is not covered by ACC.
Statutory Liability Insurance
Statutory Liability insurance provides cover for legal costs, awards and fines which arise from unintentional breaches of most New Zealand statutes. The policy is an “almost all acts” coverage that in particular responds to claims arising from:
- The Privacy Act;
- The Fair Trading Act;
- In excess of 40 other acts.
Please note that this policy no longer provides cover for a breach of the Health & Safety in Employment Act.
Employment Disputes Insurance
Employment Disputes Insurance is designed to protect Employers from loss (being damages and compensation payable to a claimant and legal defence costs) arising from claims made against them by current, former or prospective employees for actual or alleged wrongful acts.
AON has developed an Employment Disputes Liability Insurance policy underwritten by QBE that is designed to protect our clients from losses including unlawful discrimination, wrongful demotion, failure/refusal to promote and actual or constructed termination of a contract of service and breach of the law.
Terms are available subject to completing a proposal.
Liability Claims
As Professional Indemnity policies are written on a “claims made and reported basis”, this requires the firm to provide immediate notice to insurers of any claim made against the firm.
This requirement also extends to circumstances which the firm or any Insured (refer to Definition of Insured within policy wording) are, or become aware, of that might lead to a claim.
Any claim or notification of a circumstance that could give rise to a claim is made after the expiry date of the policy then Insurers may decline the claim for either reporting outside the policy period or decline the claim as they may have been prejudiced.
Optional Policy Extensions
- Dishonesty of Partners (for firms with 3 or more partners)
- Previous Business
Notification Procedure
If the firm needs to notify a circumstance or a claim then a Notification Claim Form needs to be completed and returned with relevant documents to support the claim form. Contact Lesley Runciman to request a claim form.
AON’s role is to notify insurers immediately to satisfy the claims reporting conditions of the policy, receive instructions and convey these to the firm. We suggest you read the claims reporting conditions of the policy to familiarise yourself with the procedures.
Please note that AON acts for the firm and in this respect is your advocate. If there are any difficulties in the handling of a claim either through the actions of the Insurer or legal counsel appointed to act on their and your behalf you need to advise AON immediately of the issue. This will then be addressed with the Insurers to resolve.
