• Lost, damaged or stolen property

Material damage covers your property against accidental loss or damage

(including burglary). Cover is available for your buildings, plant, machinery and
stock.

• Business interruption

This covers the income or profit of your business, following insured loss or
damage. Many businesses rely on material damage insurance to cover the repair
costs, but what about the associated loss of business profit? Business interruption
insurance can cover your gross profit, wages, payroll and redundancy payments
along with additional costs of working, costs for reinstating your records and loss
of rents.

• Business vehicles

Commercial motor insurance gives you the option of covering your business
vehicles (i) comprehensively, (ii) for third party, or (iii) third party, fire and theft
cover.

• Public & products liability

All businesses and persons have a legal responsibility to ensure that their actions
or omissions do not cause property damage or personal injury to others.

Liability can arise under common law or statute from many sources including:

• Products sold or manufactured

• Premises occupied
• Processes in making a product
• Servicing or repair of other parties' goods
• Work in other parties' premises
• Loss or damage to goods in care, custody or control
• Mistakes by employees

The General Liability insurance policy will indemnify the insured for any
compensation they become legally liable for in respect to Personal Injury or
Property Damage. Additionally, it will pay the costs and expenses of
investigating, negotiating and defending any claim.

• Employer's liability
This covers claims made by employees for injuries or illness suffered at work that
are not covered by ACC – like mental injury, nervous shock, fright or stress. The
policy will pay the defence costs and all sums that you become legally liable for,
up to a selected limit, as a result of a claim for damages made against you.

• Statutory liability
This covers you for fines and defence costs for inadvertent offences under many
Acts of Parliament including Fair Trading, Building and Resource Management
Acts (excluding Health and Safety fines as required by law). For example, under
the Resource Management Act, fines can be up to $200,000 for an offence and
$10,000 per day for each day the offence continues.

• Professional indemnity

The Professional Indemnity insurance policy provides protection for professional

businesses and people in respect of all civil liability arising from the conduct of
their professional activities.

The Lumley policy is a full civil wording and provides cover against claims for third
party financial loss arising from:

• Professional Negligence - where the insured makes an error or omission

• Breach of Contract - where the insured is in breach of a contractual
agreement they have entered into with another party
• Breach of the Fair Trading Act 1986 - where the insured causes financial
loss through potentially deceptive or misleading conduct
• Breach of Fiduciary Duty - where the insured fails to act in the best
interests of another party with whom they have a professional relationship
• Defamation - where the insured unintentionally defames by way of the
written or spoken word
• Intellectual Property - where the insured unintentionally infringes a
copyright or trademark
• Loss of Documents - where the insured loses any document (electronic or
otherwise) entrusted to them