Commercial Insurance for SMEs
Material Damage Insurance
Material damage cover serves as a vital shield, offering protection against the unforeseen loss or damage to essential elements such as buildings, contents, plant, equipment, fitout, and stock. In our lexicon, 'stock' encompasses all the goods in transit or storage integral to your business operations, while 'plant' refers to the machinery and equipment essential for smooth business functioning.
These components collectively constitute the tangible essence of your enterprise. Any harm or loss incurred by them could potentially pose significant financial jeopardy to your company's stability and growth.
With our material damage cover, rest assured that your business assets are shielded against the unpredictable. We understand the intricacies of your operations and strive to provide comprehensive coverage tailored to your unique needs.
Business Interruption Insurance
We understand that the repercussions of a business interruption can far exceed the initial physical loss. That's why we offer robust business interruption insurance, also referred to as 'business continuity' insurance, to mitigate the financial fallout when your normal operations are disrupted due to damage to your business assets.
Our business interruption insurance is crafted to provide vital support during and after the event, ensuring you can navigate through the challenges and resume operations once the damage is repaired. It goes beyond merely covering repair costs; it extends a financial lifeline to your business by funding increased operational expenses and replenishing lost profits, thereby safeguarding your balance sheet from enduring lasting damage.
With TFIB by your side, you can face disruptions with confidence, knowing that your business's financial resilience is fortified against unforeseen events.
Libaility Insurance
We understand that navigating the landscape of liability insurance can be complex, especially in New Zealand's unique business environment. Various types of liability claims can arise, each presenting its own set of challenges. We help many SMEs with common forms of liability coverage crucial for businesses operating in New Zealand:
Public Liability: This covers legal costs and compensation payments if a member of the public is injured or their property is damaged due to your business activities.
Employers' Liability: This protects your business against claims from employees for injury or illness suffered as a result of their work.
Statutory Liability: This protects your business against fines and penalties resulting from breaches of statutory obligations, ensuring compliance with regulations and laws governing your industry.
Professional Indemnity: Particularly relevant for service-based businesses, this coverage protects against claims of negligence or inadequate advice provided by your business.
Directors and Officers Liability: This safeguards directors and officers against legal costs and compensation payments arising from claims of mismanagement or wrongful acts in their roles.
Cyber Liability: In today's digital age, this coverage is essential, protecting your business against losses from data breaches, cyberattacks, and other online risks.
We like to assess your unique liability risks and tailor comprehensive coverage solutions to protect your business from potential legal and financial liabilities.
Cyber Insurance
In today's interconnected world, technology forms the backbone of nearly every business operation. With this reliance on digital infrastructure comes the ever-present risks of data breaches and cyber threats. Hackers operate indiscriminately, targeting anyone with an online presence, be it through a website, computer system, email service, phone network, or EFTPOS terminal.
We recognise the critical need for businesses to safeguard themselves against these evolving cyber risks. That's where cyber insurance steps in, offering a lifeline to businesses grappling with cyber liabilities such as ransomware attacks, viruses, malware infections, DDoS assaults, or breaches of data privacy.
Cyber insurance isnt just about financial protection; its about providing peace of mind and resilience in the face of adversity. With coverage for business income loss and support to minimise reputational damage in the aftermath of an attack, we're here to ensure your business can weather the storm and emerge stronger.
Professional Indemnity
We understand the inherent risks faced by businesses that offer opinions, advice, designs, or specifications. In today's landscape, even the most meticulous professionals may find themselves embroiled in claims if their counsel or creations fail to meet expectations.
What's more, the burden of defending oneself against such claims, even if unfounded an spurious, can entail substantial legal expenses. That's where professional indemnity insurance steps in to provide essential protection.
Professional indemnity insurance shields you from the financial repercussions of professional errors or misunderstandings, whether they stem from acts, errors, omissions, or misinterpretations. It's your safety net in an increasingly litigious environment, ensuring that your business can operate with confidence and peace of mind.
Management Liability
We understand that managing a business in New Zealand comes with its unique set of challenges and responsibilities. This is where Management Liability Insurance—a comprehensive solution tailored specifically for businesses operating in the Kiwi landscape. Management Liability Insurance combines several essential liability coverages into one seamless policy, providing comprehensive protection for your business, managers, and directors. This insurance is designed to shield you from the myriad risks that can arise from the day-to-day management and operation of your company.
In New Zealand, the landscape of business management is dynamic and ever-changing. Management Liability Insurance addresses these challenges head-on, offering coverage for a range of key liability solutions, alongside the previsouly mentioned covers, including:
Corporate Liability: Protecting your business against claims of wrongdoing or negligence in the course of its operations.
Directors and Officers Liability: Providing protection for your company's leaders against personal liability claims arising from their decisions and actions.
Employment Practices Liability: Shielding your business from claims of wrongful employment practices, including harassment, wrongful termination, and discrimination.
Fidelity: Protecting your business against financial losses resulting from employee dishonesty or fraudulent acts.
Management Liability Insurance empowers you to navigate the complexities of business management with confidence, knowing that you have comprehensive protection in place.