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Liability insurance

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Liability insurance for business 

Liability insurance covers you for legal costs and fines if you accidentally injure or damage other people or their property in the day-to-day operation of your business.

Any sized business can be on the receiving end of a claim made by a third party, or negligence or omission from a staff member.

Our brokers are here to help you assess and manage these kinds of risk, and ensure you are fully protected.

What does business liability insurance cover?

Liability insurance covers two key financial risks. One is the legal cost of defending a claim. The second is the compensation that you may be directed to pay the injured or wronged party, plus their legal costs, if a claim against you is upheld.

In some industries, however, liability or professional indemnity insurance is mandatory before you can legally operate.

Public liability

Public liability insurance covers a business if a customer or member of the public suffers a loss, property damage or injury because of your business’s day-to-day activities.

Statutory liability

Statutory liability insurance covers legal defence costs and certain fines for an accidental breach of legislation. It protects the business owner and employees, including directors, trustees and managers, against certain unintentional breaches of New Zealand Acts of Parliament (excluding some Acts) which result in prosecution.

Professional indemnity

Businesses that provide opinions, advice, design or specification run the risk of claims against them if the advice or design turns out to be unsatisfactory. 

Professional indemnity insurance covers the risk of making a professional mistake: an act, error, omission or through conduct or being misinterpreted. 

Management liability

A company director owes duties under both statute and common law and can be held personally liable not just for their own mistakes but also for the failings of people on whom you relied. If a manager or director conducts illegal or unethical practices that cause losses to individuals or businesses, management liability insurance covers the business and its assets.

Management liability insurance can include: 

Product liability

Product liability insurance protects against claims of personal injury or property damage caused by products sold or supplied through a business. 

Product liability insurance can often be included in a public liability policy, particularly if a business sells, supplies or delivers products to members of the public.

Liability insurance solutions for your business

At Crombie Lockwood, we work with corporates and small-medium businesses to develop liability coverage that fits the requirements of each business. 

Crombie Lockwood has developed two cost-effective business insurance packages to support a company's primary liability risks.

  • PURPL is a liability insurance package arranged by Crombie Lockwood and underwritten by QBE Insurance, one of New Zealand’s leading liability insurers.
  • SMARTpak offers comprehensive cover for New Zealand’s small and medium businesses.

In addition we offer a range of specialist liability solutions as separate products and as extensions to other liability policies.

Whatever you need, our brokers can find the right insurance coverage for you and your business. In the event of a claim, they'll advocate on your behalf to get a fair and prompt result.

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