QBE vs Vero — 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.

QBE

QBE Insurance (Australia) Limited (NZ branch)

Wording on file: QBE Professional Indemnity
Effective: 2025-01-01
Tier B (stale) FCIB panel

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Vero

Vero Insurance New Zealand Limited

Wording on file: Vero Legal Edge
Effective: 2022-08-01
Tier D (blocked) Off-panel

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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	QBE	Vero
limit of indemnity options	Not on file	Not on file
claims made trigger	any Claim: 18.2.1 first made against the Insured during the Period of Insurance; and 18.2.2 notified in writing by the Insured to QBE during the Period of Insurance; and 18.2.3 alleging civil liability, by any act, error, omission or conduct that occurred subsequent to the Retroactive Date in connection with the Insured's Professional Business Practice.	any Hung Claim made against the Insured and reported to the Company during the Period of Insurance; or any Insured Claim made against the Insured and reported to the Company during the Period of Insurance where indemnity granted under the Underlying Policy has resulted in its exhaustion or partial exhaustion.
retroactive date handling	The Retroactive Date specified in the Schedule. Valid Claims must allege civil liability by any act, error, omission or conduct that occurred subsequent to the Retroactive Date.	The Personal Injury has taken place on or after the Retroactive Date. Exclusion 12 – Retroactive Date: for any Personal Injury which has taken place or allegedly taken place prior to the Retroactive Date stated in the Schedule.
run off availability	Not expressly addressed. Continuous cover extension (Automatic Extension 5) provides that if the Insured has continually been insured under a Professional Indemnity insurance policy between the date when notification should have been given and the date when notification was in fact given, QBE will accept late notification under this Policy on terms applicable to the earlier policy.	If the Company terminates or refuses to renew this policy, the Insured is entitled to an extension of the cover granted under this policy for a further period of twelve (12) months immediately following such termination or non-renewal of this policy, but only in respect of any Personal Injury taking place both before the effective date of termination or non-renewal and after the Retroactive Date. If this right is exercised, this further period shall be part of the last Period of Insurance and not an additional period.
defence costs in or outside limit	mixed	mixed
dishonesty exclusion carve out	Automatic Extension 9 (Fidelity (insured's own)): Notwithstanding Exclusion 10 (Fraud and dishonesty), QBE agrees to indemnify the Insured for Loss sustained in consequence of any dishonest or fraudulent act or omission of any specific and identifiable Employee, up to NZD1,000,000 in the aggregate for any one Loss or related Losses. Automatic Extension 10 (Fraud and dishonesty of employees): Notwithstanding Exclusion 10, QBE agrees to indemnify the Insured for legal liability for any Valid Claim brought about or contributed to by any dishonest, fraudulent, criminal, malicious or deliberate act or omission of or on behalf of an Employee of the Insured, provided such indemnity will not be provided to any person committing or condoning any such act or omission.	Not on file
territory	Territorial limits specified in the Schedule. Loss of Documents coverage limited to New Zealand or Australia (Automatic Extension 15.2).	The Insurance afforded by this Policy shall apply: (a) with respect to the premises and operations of the Insured within the Territory stated in the Schedule; (b) with respect to the Products Hazard and Products Recall within the Products Territory stated in the Products Schedule; (c) with respect to incidental travel anywhere in the world.
jurisdiction	Interpretation of this insurance will be governed by the laws of New Zealand whose courts of law will have exclusive jurisdiction in any dispute that may arise. QBE will not be liable in respect of any legal action first brought in a court outside the jurisdiction of the countries specified in the Schedule.	This Policy shall be governed by the laws of New Zealand whose courts shall have exclusive jurisdiction. / This policy shall be governed by the law of New Zealand, the Courts of which shall have exclusive jurisdiction over any dispute.
aggregation basis	Valid Claims are related if they arise out of the same, identical or a series of acts, errors, omissions or conduct, or arise out of or are attributable to the same originating source or cause. QBE's total liability shall not exceed: (1.1) the Limit of Indemnity in respect of any one Valid Claim or all related Valid Claims; and (1.2) three times the Limit of Indemnity in respect of all Valid Claims which are not related.	all Personal Injury and Property Damage arising out of continued or repeated exposure to substantially the same conditions shall be considered as arising out of one Occurrence. The total aggregate liability of the Company under Insuring Clause 1 during any one Period of Insurance for all claims arising out of the Completed Operations Hazard and/or Products Hazard as defined shall not exceed the Limit of Indemnity stated in the Schedule.
key exclusions	[ "1. Anti-Money Laundering and Countering Financing of Terrorism Act 2009", "2. Asbestos", "3. Assumed duty or obligation not in normal conduct of Professional Business Practice", "4. Death or bodily injury", "5. Directors liability", "6. Electronic data (corruption, erasure, theft, alteration, access, interference unless arising from act, error or omission in Professional Business Practice)", "7. Employers liability", "8. Financial condition (insolvency, bankruptcy, receivership, statutory management or liquidation of the Insured)", "9. Fines and penalties (taxes, fines, penalties, liquidated, aggravated, multiple, punitive or exemplary damages)", "10. Fraud and dishonesty (subject to Extensions 9 and 10 carve-outs)", "11. Harassment/discrimination (bullying, harassment including sexual harassment or molestation, discrimination)", "12. Insured and family members claims", "13. Investment advisers (non-compliant investments, contributory mortgages, diminution in value, reverse mortgages, investment performance failures)", "14. Jurisdiction (outside specified countries)", "15. Liability assumed (performance guarantees, liability incurred by agreement where not otherwise existing, trading debts/guarantees, waiver of contribution rights without consent)", "16. Nuclear", "17. Obligations to employees (bodily/mental injury, sickness, disease, death or property damage of Employees)", "18. Occupiers liability", "19. Pollution (seepage, pollution or contamination)", "20. Prior or pending claims or circumstances", "21. Refund of fees", "22. Related or associated entities", "23. Sanctions", "24. Supply of goods (sale, supply, installation, efficacy or manufacture of goods)", "25. Territorial limits (outside specified Schedule territory)", "26. Terrorism", "27. Trading debts", "28. War" ]	[ "Accident Compensation Act claims (Section 1 Exclusion 1, Section 2 Exclusion 1)", "Aircraft, Watercraft (exceeding 10m) and registered Motor Vehicles (Section 1 Exclusion 2)", "Asbestos in whatever form or quantity (Section 1 Exclusion 3, Section 2 Exclusion 2)", "Care, Custody or Control – Property Damage (Section 1 Exclusion 4)", "Defamation published at Insured's direction knowing its falsity (Section 1 Exclusion 5)", "Employees Personal Injury – arising out of or in the course of employment (Section 1 Exclusion 6)", "Fines, penalties, performance warranty or liquidated damages (Section 1 Exclusion 7)", "Insured's Products – Property Damage to own products (Section 1 Exclusion 8)", "'Leaky Buildings' – Moisture or Water Penetration, Building Defects (Section 1 Exclusion 9, Section 2 Exclusion 7)", "Loss of Use of tangible property not physically injured or destroyed (Section 1 Exclusion 10)", "Pollution – unless sudden and accidental at a specific time and place (Section 1 Exclusion 11)", "Products Contractual Liability – liability assumed under unapproved agreements (Section 1 Exclusion 12)", "Product Recall (Section 1 Exclusion 13 – subject to Memorandum 9 carve-back)", "Professional Liability – breach of duty in professional capacity (Section 1 Exclusion 14)", "Radioactivity and nuclear contamination (Section 1 Exclusion 15, Section 2 Exclusion 11)", "War and Terrorism (Section 1 Exclusion 16, Section 2 Exclusion 13)", "Welding/Gas Cutting/Burning Off/Use of Explosives (Section 1 Exclusion 17 – subject to Memorandum 23 carve-back)", "Employment Tribunal / Employment Court claims and personal grievance (Section 2 Exclusion 3)", "Fines and penalties (Section 2 Exclusion 4 – does not apply to punitive or exemplary damages)", "Health & Safety Act – Personal Injury resulting from breach (Section 2 Exclusion 5 – subject to Extension 1 carve-back)", "Known Circumstances at commencement of Period of Insurance (Section 2 Exclusion 6)", "Judgments entered outside New Zealand courts (Section 2 Exclusion 8)", "Prior Claims not notified to Company before commencement of Period of Insurance (Section 2 Exclusion 9)", "Prior Litigation in existence at commencement of Period of Insurance (Section 2 Exclusion 10)", "Personal Injury prior to Retroactive Date (Section 2 Exclusion 12)", "Deliberate failure to comply with Health and Safety in Employment Act 1992 or Health and Safety at Work Act 2015 (Section 2 Extension 1 proviso)" ]
efficacy exclusion	Exclusion 24: QBE will not be liable in respect of any Claim or Loss alleging or arising from the sale, supply, installation, efficacy, or manufacture of goods by or on behalf of the Insured.	Not on file
automatic extensions	[ "1. Automatic reinstatement", "2. Breach of contract", "3. Consequential costs and court attendance costs (NZD250,000 any one Claim and in the aggregate)", "4. Consultants, subcontractors and agents", "5. Continuous cover", "6. Costs of representation at registration board proceedings (NZD500,000 any one Claim and in the aggregate; Excess NZD1,000)", "7. Defamation (unintentional)", "8. Fair Trading Act 1986 (sections 9 to 14)", "9. Fidelity (insured's own) – NZD1,000,000 aggregate", "10. Fraud and dishonesty of employees", "11. Intellectual property (unintentional infringement of copyright, trademark, registered design or patent, plagiarism or breach of confidentiality)", "12. Internet liability (NZD250,000 any one Claim and in the aggregate)", "13. Irrecoverable fees and disbursements (NZD150,000 any one Claim and in the aggregate)", "14. Joint venture liability", "15. Loss of documents (Excess NZD1,000)", "16. Previous business", "17. Public relations expenses (NZD50,000 in the aggregate)" ]	[ "Advertising Liability (Memorandum 1)", "Contractors or Sub-contractors – 'labour only' (Memorandum 2)", "Defective Workmanship (Memorandum 3)", "Fire Protection Costs (Memorandum 4)", "Goods on Hook (Memorandum 5)", "Hazardous Substances Emergency (Memorandum 6)", "Innkeeper's Liability under the Innkeepers Act 1962 (Memorandum 7)", "Keys and Locks (Memorandum 8)", "Product Recall – 90% of costs above Excess (Memorandum 9)", "Property in Care, Custody or Control (Memorandum 10)", "Property Owner's Liability (Memorandum 11)", "Punitive or Exemplary Damages – New Zealand courts only (Memorandum 12)", "Service and Repair – Vehicles and watercraft not exceeding 10m (Memorandum 13)", "Tenant's Liability (Memorandum 14)", "Trade Advice or Services – rendered without charge (Memorandum 15)", "Underground Services (Memorandum 16)", "Unmanned Aerial Vehicles up to 15kg gross take-off weight (Memorandum 17)", "USA/Canada Coverage – Products only where Products Territory is Worldwide (Memorandum 18)", "USA/Canada Visits – non-resident Insured temporarily visiting (Memorandum 19)", "Vehicles – Loading & Unloading, Tool of Trade Functions, Vehicles in Car Parks, Weight/Vibration Damage (Memorandum 20)", "Vehicle Inspection Certification (Memorandum 21)", "Vibration or Removal of Support (Memorandum 22)", "Welding/Gas Cutting/Burning Off/Use of Explosives – subject to reasonable care (Memorandum 23)", "Goods and Services Tax – Section 5(13) GST Act 1985 (Section 1 Condition 8)", "Health and Safety at Work Act 2015 extension – if stated as INCLUDED in the Schedule (Section 2 Extension 1)", "Goods and Services Tax – payable in addition to Limit of Indemnity (Section 2 Extension 2)", "Newly Created or Acquired Subsidiary Company (Section 2 Extension 3)", "Subsidiary Company Change of Ownership (Section 2 Extension 4)", "Extended Reporting Period – 12 months on termination or non-renewal (Section 2)" ]
privacy act handling	Covered under Automatic Extension 12 (Internet liability): unintentional breach of confidentiality or infringement of any right to privacy, including any alleged breach of the terms of the Privacy Act 2020, committed or alleged to have been committed by the Insured in the provision of its website, use of the Internet, electronic mail or any electronic network. Maximum NZD250,000 any one Claim and in the aggregate.	Not on file
fair trading act handling	QBE will indemnify the Insured for any Valid Claim for compensation made against the Insured alleging a breach of sections 9 to 14 of the Fair Trading Act 1986 (or any similar fair trading legislation that may apply in the States, Territories or Countries of the jurisdiction specified in the Schedule).	Not on file
fines insurable acts list	[]	Not on file
investigation costs covered	Automatic Extension 6 (Costs of representation at registration board proceedings): If any complaint (which may form the basis of a Valid Claim) is lodged against the Insured with a statutory registration board or similar regulatory authority, QBE shall pay Costs and Expenses incurred in respect of the investigation and defence of the Insured at such proceedings. Maximum NZD500,000 any one Claim and in the aggregate, subject to Excess of NZD1,000.	pay all defence costs and investigations or negotiations incurred by the Company or by the Insured with the prior written consent of the Company provided that the Limit of Indemnity under the Policy or any Sub-Limit has not previously been exhausted.
contractual liability extension	Automatic Extension 2 (Breach of contract): QBE will indemnify the Insured for any Valid Claim for the actual or alleged breach of a contract for the provision of professional services. However, Exclusion 15.2 excludes liability incurred by agreement where liability would not otherwise have existed in the absence of the agreement, except that this exclusion will not apply to an agreement to provide professional services to a client or customer, except to the extent that the Insured has agreed to accept a liability regardless of fault.	For Products Hazard only, Exclusion 12 excludes liability assumed by the Insured under any agreement, other than written contracts approved by the Company. But this exclusion does not apply to a warranty of fitness or quality of the Insured's Product, or a warranty that work performed by or on behalf of the Insured will be done in a workmanlike manner. Public Liability: Insured definition extended to include any person, principal, organisation, trustee or estate to which the Insured is obliged by virtue of a written contract to provide insurance as is afforded by this Policy.
occurrence basis vs claims made	claims_made	mixed
consumer guarantees act handling	Not addressed in the wording.	Not on file
hswa handling	Not on file	If this extension is stated as INCLUDED in the Schedule, then this policy extends to cover the Insured and any Officer against Defence Costs and Penalties arising out of any Personal Injury which is connected with the business or affairs of the Insured and which is notified to the Company during the Period of Insurance stated in the Schedule or within 30 days after its expiry, or if exercised, during the Extended Reporting Period, provided that the Personal Injury was suffered on or after the Retroactive Date. Exclusion 4 – Fines Penalties etc and Exclusion 5 – Health & Safety Act, do not apply to this extension. Provided that this extension shall not cover the Insured nor any Officer: (a) for any deliberate failure to comply with the Health and Safety in Employment Act 1992 or the Health and Safety of Work Act 2015; (b) if the Insured or any Officer has a Statutory Liability Defence and Penalties Insurance Policy with the Company or any other Insurer for the same Personal Injury.
acc interaction	Not on file	Exclusion 1 – Accident Compensation: claims for payment under any Accident Compensation Act, Workers or Workmen's Compensation legislation in any country by any person in the service of any contractor or sub-contractor to the Insured or any other dependent of such person. / for any costs or compensation for which cover to any extent is provided by the Accident Compensation Act 2001 or any other Workers Compensation legislation.
recall cost handling	Not on file	Notwithstanding Exclusion 13 – Product Recall, the Company will indemnify the Insured for an amount not exceeding 90% of costs and expenses above the Excess reasonably incurred with the Company's consent in the recall or withdrawal from sale or use of any of the Insured's Products happening during the Period of Insurance within the Policy Territory. Provided that the Insured's Products: (a) are defective or alleged to be defective; and (b) may cause Personal Injury or Property Damage which may result in a valid claim under the Policy and it is reasonably foreseeable that such Personal Injury or Property Damage is/are likely to arise if no such recall or withdrawal is undertaken.
gradual process handling	Not on file	For the purposes of this insurance, disease shall be sustained when the employee is first exposed to conditions in New Zealand out of which the disease the subject of the claim arose.
reparation orders covered	Not on file	Penalties means any: (a) court costs, (b) reparation order, (c) prosecution witness costs and expenses, (d) prosecution solicitors' costs, (e) regulators' costs awarded under Section 152 of the Health and Safety at Work Act 2015, imposed by the Court on the Insured upon conviction for an offence under the Health and Safety in Employment Act 1992 or the Health & Safety at Work Act 2015, and does not include any fine or infringement fee.
products liability bundled	Not on file	Section 1 covers Products Hazard: Personal Injury or Property Damage arising out of the Insured's Products, or reliance upon a representation or warranty made at any time with respect to such Products, but only if the Personal Injury or Property Damage occurs away from premises owned or leased or rented to the Insured and after physical possession of such products has been relinquished to others.
products liability specific exclusions	Not on file	[ "Property Damage to the Insured's Products arising out of such products or any part of such products (Exclusion 8 – Insured's Products)", "Compensation claimed for the withdrawal, inspection, repair, replacement or loss of use of the Insured's Products, or work completed by or for the Insured, of any property of which such products or work form a part, if such products, work or property are recalled or withdrawn from the market or from use because of any known or suspected defect or deficiency (Exclusion 13 – Product Recall)", "For Products Hazard only, liability assumed by the Insured under any agreement, other than written contracts approved by the Company (Exclusion 12 – Products Contractual Liability)", "any actual or alleged liability whatsoever for any claim or claims in respect of loss or losses, including defence costs and expenses, directly or indirectly arising out of, resulting from or in consequence of, asbestos in whatever form or quantity (Exclusion 3 – Asbestos)", "Personal Injury or Property Damage arising out of discharge, dispersal, release or escape of smoke, vapours, soot, fumes, acids, alkalis, toxic chemicals, liquids or gases, waste materials or other irritants, contaminants into or upon land, the atmosphere or any water course or body of water, unless such discharge, dispersal, release or escape is sudden and accidental (Exclusion 11 – Pollution)", "In respect of USA/Canada: punitive and/or exemplary damages; contamination or pollution; operation by the Insured or any agents within the USA and/or Canada of any premises or plant for the manufacturing, processing, mining, distribution and/or storage of the Insured's Products (Memorandum 18 – USA/Canada Coverage)" ]

About this data. Facts on this page are extracted from each insurer's published commercial-liability policy wording PDF, with the source PDF, effective date, our extraction date and SHA-256 hash recorded against every claim. This site enforces a 24-month freshness cap — wordings older than that are flagged as historical / archived. If a policy has been updated since our extraction, the verbatim text and structured facts may be out of date; the authoritative answer is always the source PDF linked, not our derived facts.

Audit trail (2 source documents)

QBE QBE Professional Indemnity · effective 2025-01-01 · extracted 2026-05-21 · tier B (Verified — stale (12-24mo) or brochure) · sha256 58aaaeb99a8577db… · source PDF
Vero Vero Legal Edge · effective 2022-08-01 · extracted 2026-05-21 · tier D (Historical / not on file) · sha256 e63196092067da35… · source PDF

Personalised advice on which cover fits your business is regulated under the Financial Markets Conduct Act 2013 — for that, contact our broker partner: First Commercial Insurance Brokers Ltd (FSP748591), 0800 437 699, stewart@fcib.co.nz. Page rendered 2026-06-20.