Insurance is one of those things that every business hopes never to need, but should always have … just in case. In these litigious times, when there are lawsuits over the smallest things, insurance may be the only thing between life as you know it and losing everything.
The NZSMA understands that it can be tough starting out when costs keep piling up. That’s why we’ve partnered with Gallagher formerly Crombie Lockwood and NZI to to make it possible for you to protect you and your business at affordable cost.
NZSMA can offer small businesses, self-employed and hobby soap makers who earn less than $50k annually a liability insurance package.
In short, you are insured for all sums that you become legally liable to pay arising from injury and/or damage that happens during the period of insurance, caused by an event in connection with your business.
The insurance term runs from 1 December to 1 December each year.
You can apply for cover at any time, but you will only be covered for this term, regardless of joining date. For example, if you join 25 of March, you will be covered for the remainder of the insurance year: 25 March until 30 November. There is no pro-rata or refund. This allows us to keep the fees affordable for everyone.
1 December 2023 – Due to changes in the Insurance Industry, we have been advised by our Broker that our Policy will be different from how we have previously been able to add a set number of members under our Policy. From now on we will have to have name the members who are covered.
This means that we will have to have all the proposal forms from our members who want to purchase Insurance Prior to being able to get a quote for the coming year. There will also be a change of forms from this point on.
Once we have been provided a copy of the new proposal form we will put it up on the website, along with some new FAQ’s