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 www.apexgeneral.co.nz

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

-Ends-

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Scoop Business: ComCom Charges Hawkins’ Finance Companies Over Debt Recovery

The Commerce Commission has filed criminal proceedings against two finance companies run by former 1980s high-flyer Allan Hawkins over their debt recovery practices. More>>

ALSO:

Science Media Centre: The Big Science Stories Of 2014

It was a dramatic year for science, one that witnessed a severe outbreak of Ebola in West Africa and an historic mission to land a space probe on a comet. On the home front... headlines with animal testing for 'legal highs', 1080 use to tackle increased pest numbers and court action over genetically modified organisms among the most-covered stories. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news