Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


NZ's first free audit protection cover

Insurance broker offers NZ's first free audit protection cover

A Kiwi insurance brokerage firm is offering NZ's first free audit protection insurance, as part of an overall management liability package which will see businesses insured against any unexpected audits by the IRD.

Apex General Liability Manager Jonathon Gillham says that unexpected costs such as auditing can be a real setback for businesses, especially if they are on a tight end-of-year budget.

"It's the small-to-medium businesses that are often hardest hit by surprise outlays and essentially, that's what you have to plan for and protect against if you are a responsible business owner.

"We realise that many businesses don't do this and that's why we are now offering our clients free audit protection cover with our management liability insurance. This is basically a suite of policies that cover just about any major loss that a business can have - from employee theft to employee disputes," he says.

Gillham says more than 95% of Kiwi business owners choose to purchase general liability insurance, which takes a "one size fits all" approach to risk management.

While he says it's a good start, there are some big areas of exposure which those business owners won't have cover for.

"Most people will insure their house as a matter of course but what they don't realise is that the limited liability structure may not protect their personal assets, so they risk losing their house anyway if they don't buy adequate liability insurance for their business," says Gillham.

Gillham says they have negotiated an exclusive deal through a leading liability insurer so it won't be available through other brokers.

"As far as we know, no-one is offering this exact suite of policies - and we are the first insurance broker in NZ to throw in the audit protection cover for free. You can get it as a stand-alone policy through your accountants, but that is usually a very expensive option which many businesses might also not find out about until it's too late. Like with any insurance policy, you are getting peace of mind. IRD audits are fairly common, so it's actually a good cover to have for a rainy days," says Gillham.

Apex General's management liability insurance indemnifies for a range of business loss scenarios and is available now.

For more information visit

Apex General Ltd. Head SHots of Staff . Auckland. 12th Sep.2012


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news