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All cover · Professional indemnity

Delta Insurance vs zurich — Professional indemnity

Professional indemnity covers your civil liability for claims arising from professional services. Every NZ retail PI wording is claims-made — the retroactive date and run-off availability decide whether old work is covered when you change insurers or close the business.

Delta Insurance

Delta Insurance New Zealand Limited

Wording on file: Delta Professional Indemnity
Effective: 2023-04-01
Tier D (blocked) FCIB panel

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zurich

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Not on file — request latest wording from zurich via FCIB.

Side-by-side fact comparison

Each row is a fact-key from the Professional indemnity wording. "Not on file" means either the wording doesn't address that fact, or Phase C structured-facts extraction hasn't been run yet on this insurer's wording.

Fact Delta Insurance zurich
limit of indemnity options Not on file Not on file
claims made trigger The Underwriters will indemnify the Insured for the Damages and Defence Costs resulting from any Claim first made against the Insured and notified to the Underwriters during the Policy Period for civil liability for compensation in the performance of Professional Business Services. Not on file
retroactive date handling Exclusion 4.16: arising out of, based upon or attributable to any event, act, error or omission occurring or alleged to have occurred prior to the Retroactive Date stated in Item 6 of the Schedule. Not on file
run off availability Not on file Not on file
defence costs in or outside limit outside_limit Not on file
dishonesty exclusion carve out Exclusion 4.7(a) shall apply to Automatic Extension 2.4 but only to dishonest or fraudulent acts or omissions occurring after discovery by the Insured of reasonable cause for suspicion of any such act or omission. Exclusion 4.7(a) shall not apply to any Insured who is innocent of committing or condoning any such dishonest or fraudulent act or omission. Not on file
territory This Policy applies to: a. Professional Business Services performed, or any other matters which give rise to coverage under this Policy which take place, anywhere in the world; and b. Claims brought against the Insured anywhere in the world except any such Claim brought in the United States of America, Canada or any possession or territory of either such country or any legal proceeding brought to enforce a judgment obtained in any such country, possession or territory. Not on file
jurisdiction This Policy and any issue, including all and any disputes, relating to its formation, construction, validity or operation shall be determined by the laws of New Zealand whose Courts shall have exclusive jurisdiction to hear any dispute. Not on file
aggregation basis All Claims arising out of, based upon or attributable to: a. the same acts, errors or omissions; b. a series of related acts, errors or omissions; or c. the same matter or transaction, shall be considered a single Claim for the purposes of this Policy. A single Excess amount shall apply to all Damages from all Related Claims. Not on file
key exclusions 
[
  "4.1 Asbestos",
  "4.2 Associates",
  "4.3 Assumed Duty or Obligation",
  "4.4 Bodily Injury/Property Damage (subject to professional duty carve-out)",
  "4.5 Contractual Liability (subject to Section 2.14 carve-out)",
  "4.6 Fines and Penalties (including punitive, aggravated, multiple, exemplary or other non-compensatory damages)",
  "4.7 Fraud and Dishonesty (subject to innocent insured carve-out)",
  "4.8 Infrastructure",
  "4.9 Insolvency",
  "4.10 Investment Advice",
  "4.11 Land, Building, Transport",
  "4.12 Pollution",
  "4.13 Prior Claims, Knowledge and Notice",
  "4.14 Products",
  "4.15 Radioactive Contamination and Explosive Nuclear Assemblies",
  "4.16 Retroactive Date",
  "4.17 Sanctions",
  "4.18 Terrorism (excluding cyber terrorism)",
  "4.19 War and Civil War"
]
 Not on file
excess default The applicable Excess set forth in Item 4 of the Schedule shall apply to each and every Claim or other matter giving rise to coverage under this Policy. The Excess shall not apply to Automatic Extension 2.5, Automatic Extension 2.6 or Defence Costs. Not on file
automatic extensions 
[
  "2.1 Vicarious Liability",
  "2.2 Defamation",
  "2.3 Intellectual Property",
  "2.4 Dishonest or Fraudulent Employees",
  "2.5 Loss of Documents",
  "2.6 Compensation for Attendance",
  "2.7 Quasi-Judicial",
  "2.8 Fair Trading Act 1986",
  "2.9 Continuous Cover",
  "2.10 Estate Extension",
  "2.11 Marital and Domestic Partner",
  "2.12 Loss Mitigation",
  "2.13 Joint Ventures and Partnerships",
  "2.14 Contractual Liability"
]
 Not on file
fair trading act handling The Underwriters will indemnify the Insured for the Damages and Defence Costs resulting from any Claim made against the Insured under the terms of the Fair Trading Act 1986 (sections 9 to 14) or any similar fair trading legislation enacted by the Dominion of New Zealand or the States or Territories of the Commonwealth of Australia. Not on file
investigation costs covered The Underwriters will indemnify the Insured in relation to any complaint or investigation against the Insured by a professional or statutory body which has jurisdiction to investigate and adjudicate in such a situation, provided that any such investigation or complaint has been notified to the Underwriters during the Policy Period, for: a. all orders or determinations of compensation against the Insured; and b. any Defence Costs incurred by or on behalf of the Insured. This coverage is subject to a Sublimit of Liability as specified in Item 5 of the Schedule. In addition to the applicable Sublimit of Liability, Defence Costs are payable under this Automatic Extension 2.7 in an amount up to $100,000 NZD. Not on file
contractual liability extension Notwithstanding Exclusion 4.5, the Underwriters will indemnify the Insured for the Damages and Defence Costs resulting from any Claim for any contractual liability or obligation arising from the following warranties or guarantees made by the Insured: a. that the Insured will use reasonable care and skill in the performance of Professional Business Services; b. that the Professional Business Services will not infringe upon any Intellectual Property Rights; or c. that the Professional Business Services will substantially conform to all material, written specifications. Not on file
occurrence basis vs claims made claims_made Not on file
products liability specific exclusions 
[
  "arising out of, based upon or attributable to any Insured, or any party for whom the Insured is responsible, having supplied, manufactured, constructed, altered, repaired, treated, sold, recalled, fabricated, distributed, installed or maintained any goods or products"
]
 Not on file