Totika Scheme - Insurances

Competency Name

Competency Requirements

Processing Requirements

Example Documents

Competency Name

Competency Requirements

Processing Requirements

Example Documents

1

Asbestos Liability Insurance

  • Business name and NZBN needs to match the organisation registered. If it doesn't match, evidence must be provided to link the NZBN or business names together. This is ideally a letter or download from NZBN office showing the linkage.

  • There is no minimum amount, amount does not need to be recorded

  • Must be current

  • Must specify Asbestos Liability Insurance

  • Issue Date = Start of coverage date listed on policy

  • Expiry Date = Coverage end date listed on policy (if the policy is paid on a monthly basis the expiry will be set when the next payment is due)

  • Insurer = Insurer will be listed in policy content

  • Policy Number = As specified on the policy

  • Item = Asbestos Liability Insurance as specified on the policy

  • Amount Description = Not required

  • Amount = Not required

 

2

Employers Liability Insurance

  • Business name and NZBN needs to match the organisation registered. If it doesn't match, evidence must be provided to link the NZBN or business names together. This is ideally a letter or download from NZBN office showing the linkage.

  • There is no minimum amount, coverage amount to be recorded

  • Must be current

  • Must specify Employers Liability Insurance

  • Issue Date = Start of coverage date listed on policy

  • Expiry Date = Coverage end date listed on policy (if the policy is paid on a monthly basis the expiry will be set when the next payment is due)

  • Insurer = Insurer will be listed in policy content

  • Policy Number = As specified on the policy

  • Item = Employers Liability Insurance as specified on the policy

  • Amount Description = Same as item

  • Amount = Coverage amount as specified on policy

 

3

Statutory Liability Insurance

  • Business name and NZBN needs to match the organisation registered. If it doesn't match, evidence must be provided to link the NZBN or business names together. This is ideally a letter or download from NZBN office showing the linkage.

  • There is no minimum amount, coverage amount to be recorded

  • Must be current

  • Must specify Statutory Liability Insurance

  • Issue Date = Start of coverage date listed on policy

  • Expiry Date = Coverage end date listed on policy (if the policy is paid on a monthly basis the expiry will be set when the next payment is due)

  • Insurer = Insurer will be listed in policy content

  • Policy Number = As specified on the policy

  • Item = Statutory Liability Insurance as specified on the policy

  • Amount Description = Same as item

  • Amount = Coverage amount as specified on policy

 

4

Professional Indemnity Insurance

  • Business name on certification to match the organisation registered. If it doesn't match, evidence must be provided to link the NZBN or business names together. This is ideally a letter or download from NZBN office showing the linkage.

    • Note: If a letter of linkage is supplied, the documentation will need to be sent to site for their approval prior to verification

  • There is no minimum amount, coverage amount to be recorded

  • Must be current

 

  • Must state one of the accepted types:

    • Professional Indemnity

    • Errors & Omissions

    • Professional Liability

  • If the document indicates self-insured, the document is required to be escalated to site for approval

 

  • If the policy does not list one of the accepted types, a Product Disclosure Statement (PDS) is required

    • If the Product Disclosure Statement (PDS) states one of the accepted types, the insurance and PDS need to be uploaded together for approval

    • If the Product Disclosure Statement (PDS) does not state one of the accepted types, the documents need to be escalated to site for approval

  • Issue Date = Start of coverage date listed on policy

  • Expiry Date = Coverage end date listed on policy (if the policy is paid on a monthly basis the expiry will be set when the next payment is due)

  • Insurer = Insurer will be listed in policy content

  • Policy Number = As specified on the policy

  • Item = Type of coverage / policy

  • Amount Description = Same as item

  • Amount = As specified on policy

 

5

Public and/or Product Liability Insurance

  • Business name on certification to match the organisation registered. If it doesn't match, evidence must be provided to link the NZBN or business names together. This is ideally a letter or download from NZBN office showing the linkage.

    • Note: If a letter of linkage is supplied, the documentation will need to be sent to site for their approval prior to verification

  • There is no minimum amount, coverage amount to be recorded

  • Must be current

 

  • Must state one of the accepted types:

    • Public Liability

    • Public & Products Liability

    • Broadform Liability

    • General Liability

    • Business Liability

    • Legal Liability

    • Umbrella Liability

    • Commercial Liability 

    • Specialty Liability

    • International Liability

  • If the document indicates self-insured, the document is required to be escalated to site for approval

  • If none of the above accepted policy types are listed, however the document states “Business Pack Insurance” or “Trades Pack Insurance”, this can be accepted

  • Note: Insurance types can be listed in the limit section of the policy (Eg. Under the Class or description it may refer to General Liability however under the limit or interest insured section if it refers specifically to an accepted type listed above this would be deemed acceptable.)

 

  • The following types are not accepted:

    • IT Liability

  • Issue Date = Start of coverage date listed on policy

  • Expiry Date = Coverage end date listed on policy (if the policy is paid on a monthly basis the expiry will be set when the next payment is due)

  • Insurer = Insurer will be listed in policy content

  • Policy Number = as specified on the policy

  • Item = Type of of coverage / policy

  • Amount Description = Same as item

  • Amount = As specified on policy