- Call Julian on 0279 476 876
Protection against the legal and financial consequences of an unintentional regulatory breach.
New Zealand businesses operate under a wide range of laws, regulations and statutory obligations. Even when a breach is accidental, it may still lead to an investigation, prosecution, legal defence costs, reparations or financial penalties.
Statutory liability insurance helps protect your business and, where applicable, its directors, officers and employees when an unintentional breach occurs. It provides financial support so the business can respond properly without carrying the full cost alone.
Most business owners do not expect to fall foul of the law. However, regulations change, processes are overlooked and mistakes can happen within even the most carefully managed business.
The cost of obtaining advice and responding to a regulator can become significant before it is clear whether a breach has occurred or a penalty will be imposed.
Support with legal representation and other costs involved in responding to an investigation or defending a prosecution.
Cover for certain fines, penalties or court ordered reparations where they are legally permitted to be insured.
Cover may extend beyond the company itself to directors, officers and employees acting in connection with the business.
Statutory liability insurance cannot cover every outcome. Some fines and penalties are prohibited from being insured, while deliberate, reckless or dishonest conduct will generally fall outside the policy. We explain these limitations clearly so you understand where the cover may respond.
We also look at the legislation, activities and regulatory frameworks relevant to your business. This helps us recommend an appropriate level of protection and make sure it works alongside your public liability, employers liability and directors and officers cover.
Talk to Ede Insurance Group about statutory liability cover that reflects the obligations and risks your business actually carries.