Newsletter – Spring 2016
Material Damage and Business Interruption
Spring is the season where we often experience wild weather and sometimes this type of weather exposes maintenance issues. Please be aware that while we are covered for damage such as loss of roofing iron, trees falling into property etc our insurance does not cover maintenance or rectifying building design faults that may be exposed by poor weather.
If you have suffered property damage and need to claim, the claim process can be found on our website.
Remember to also advise us if any premises are unoccupied.
Preparations for the MDBI renewal (31 Dec) start shortly. For members with individual assets that exceed $2m, it is a good time to check that your valuation remains current (under 3 years old) or consider arranging a current insurance valuation in order to ensure that your sum insured is appropriate.
We continue to field calls from members asking how to comply with some of the changes in legislation related to liability insurance. Remember that liability cover provides a legal defense but does not cover fines imposed as a consequence of a breach of the law. ICBNZ has developed resources to help their members comply with these new regulations, the resources can be found on their website.
If you are planning to change or upgrade your fleet, Mazda are offering members very good discounts. Details can be found in the notices section of our website under special offers.
A quick reminder that ACE/ Chubb provide us with significantly cheaper premiums than those offered when booking directly with airlines for both domestic and international travel.
If you have any questions or comments please do not hesitate to contact me.