Vero Liability offers Statutory Liability insurance to cover businesses and organisations against liability arising from allegations of breach of a statute, including the cost of defending such actions and penalties incurred.
Statutory Liability insurance responds to unexpected and unintentional breaches of statute resulting in prosecution.
This insurance covers the company, any director, officer, trustee manager or secretary, and the company itself for the cost of reimbursing the directors' and officers'.
The introduction of the new Health & Safety at Work Act is a recent example of the increased Statutory Liability exposures faced by companies, directors, and senior management.
The policy does not cover employee contract claims, police prosecutions or IRD proceedings and does not cover reckless breach or deliberate disregard of statutory requirements.
Who Needs It?
Any company or organisation.
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Vero Liability products are available through insurance brokers and advisers. An insurance broker provides independent, professional and specialist advice to help make sure you have the right protection. If you don’t already have one, you can find a broker on the Insurance Brokers Association of New Zealand (IBANZ) website by clicking on the button below.