In a well-publicised High Court judgment, former directors of Mainzeal Property and Construction Limited (in liquidation) were found liable for breach of their directors’ duties by trading recklessly whilst the company had been insolvent over a period of years.
Managing the safety of hazardous substances is something that many businesses find challenging. In this issue, we briefly touch on some of the new legal requirements in this area and highlight some useful guidance to help businesses get started.
Welcome to 2019 and the second issue of VL’s The Safe Side. We start the New Year by looking at New Zealand’s recent health and safety performance and what it tells us about likely trends in 2019 and beyond.
Welcome to The Safe Side, VL’s first Health and Safety round up designed to keep you informed about the latest news, information and trends. An increased focus on keeping our workplaces safe means an increased focus on processes and legislation - It’s never been more important to keep our knowledge and practices up to date, for everybody’s sake.
Hazardous Substances regulations enforced under the Health & Safety at Work Act effective from 01 December 2017. There are now specific duties imposed on Persons Conducting a Business Undertaking (PCBUs) in the handling and management of hazardous substances.
Privacy breach regulation is tightening in major offshore markets.
The Health & Safety at Work Act 2015 is generating a dramatically increased level of fines upon conviction for individuals and business entities. As well Worksafe now has a 12 month window to make its decision whether to prosecute (previously 6 months). As a result, we are just now seeing how things may pan out in future.
VL Work Accident is a unique product which funds early voluntary reparation in cases of workplace injury or death where Statutory Liability insurance is triggered. It has an added feature to cover funeral expenses in the event of fatal injury.
The Health & Safety at Work Act 2015 was effective on 4 April 2016 but only now are we getting some insight into its impact on employers and their insurers.
VL is pleased to annouce the addition of Cyber insurance to its product portfolio.
VL has been insuring liability risks for drones for a long time - what's new? Read our latest bulletin to find out. And have you considered offering LawSafe to your clients recently?
Vero Liability is pleased to announce new improved versions of our most popular wordings.
In recent times much has been happening in the areas of litigation, dispute resolution and regulation. This bulletin headlines some of the more recent and relevant facets of the changing commercial environment.
It would be impossible not to have noticed the latest craze in ‘gadgets’, namely, the increasing proliferation of drones, otherwise known as UAVs (Unmanned Aerial Vehicles) or RPAS (Remotely Piloted Aircraft Systems) or UAS (Unmanned Aerial Systems) which is being widely reported and featured in all news media worldwide.
2014 saw VL pick up a number of unusual claims in the SME sector. No matter the many years of collective experience we have there is always something which raises eyebrows. This bulletin outlines a few examples.
Health & Safety in Employment Act | Sentencing Amendment Act 2014
Frequently Asked Questions
The Sentencing Amendment Act 2014 was passed into law on 6 June 2014 and becomes effective on 6 December 2014.
Public Liability - Selecting Policy Limits
Is due consideration given in assessing policy limits for Public Liability policies? What should be looked at when determining an appropriate limit of indemnity?
Since our Market Bulletin in April last year there has been significant and dynamic movement on various fronts towards the implementation of the new workplace safety regime.
The “Steigrad” High Court decision upheld.
On 7 August the Government announced the most significant reform of New Zealand’s workplace health and safety system in 20 years.
Earlier this year, Vero Liability’s Senior Underwriter Heather Bailey, gave a presentation to the Insurance Institute Conference in Auckland on behalf of VL. The topic was “The Christchurch Re-build - Construction Liability Insurance”.
The extreme dry weather this summer has seriously affected the primary industry sector in many ways but effects of drought are also felt directly or indirectly across all sectors, domestic and commercial.
On 20 December 2012 the Court of Appeal overturned the High Court's decision in Steigrad v BFSL 2007 Limited concerning the application of s9 of the Law Reform Act 1936 to defence costs whereby the receivers of Bridgecorp took a charge on the insurance monies available under a Directors & Officers Liability policy.
The Royal Commission identified many shortcomings and failures which contributed to the disaster. In its report it was particularly critical of the Pike River Coal Limited board of directors.
Following the “Steigrad Decision” (where a court may determine that an Insurer cannot spend money on the defence of clients if that spend will erode policy limits available to pay a claim) Vero Liability responded to the market with a “ring fenced” Defence Costs solution for Directors & Officers covers.
Business Interruption through Fire, Storm, Flood, Earthquake – routine stuff!
But what about Business Interruption through a liability loss?
New Exposures For Building Trades
Vero Liability is pleased to announce its response to new exposures for Licensed Building Practitioners (LBPs).