Manufacturing Business Rules | Lion | Company | Insurances

• Insured name that is displayed on the document must match that registered and NZBN (New Zealand) or ABN (Australia) needs to match what has been registered in the system. If it doesn't match, government certified evidence must be provided to link the NZBN (New Zealand) or ABN (Australia) and names together. This is ideally a letter or download from NZBN (New Zealand) or ABN (Australia) showing the linkage;
• We can accept ‘PTY LTD’ or ‘(Pty) Ltd’ in lieu of ‘Proprietary Limited’ when this is the only difference in the company name between what’s shown on company compliance paperwork verse what’s shown in onsite.
• There is no minimum amount for Income Protection and the amount does not need to be recorded
• Must be current
• Must specify Income Protection or Accident and Sickness

NOTE: If the policy is paid on a monthly basis, the document must show when the recent payment was made or when the next payment is due

• 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 = Income Protection or Accident and Sickness as specified on the policy
• Amount Description = not required
• Amount = not required

• Business Name needs to match. If it doesn't match, government certified evidence must be provided to link the business names together. This is ideally a letter or download from NZBN (New Zealand) or ABN (Australia)showing the linkage
• We can accept ‘PTY LTD’ or ‘(Pty) Ltd’ in lieu of ‘Proprietary Limited’ when this is the only difference in the company name between what’s shown on company compliance paperwork verse what’s shown in onsite.
• Must be current
• Must state one of the accepted types as listed in the below table
• If the policy does not list one of the accepted types a Product Disclosure Statement (PDS) is required before escalation.
• If PDS states on of the accepted types – the insurance and PDS needs to be uploaded together for approval
• If the PDS does not specify Professional Indemnity it will be escalated
• Amount = the minimum level of coverage required will depend on the type of professional service your business is providing to Lion. Refer to the terms of your contract, Purchase order or contact your Lion representative.

ACCEPTED TYPES:

• Professional Indemnity
• Professional Indemnity with Environmental loading aspect
• Errors and Omissions
• Professional Liability
• Civil Liability

NOTE: If the policy is paid on a monthly basis, the document must show when the recent payment was made or when the next payment is due

• 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 = As specified on policy <accepted type>
• Amount Description = As specified on policy
• Amount = as per policy

NOTE: If the policy is paid on a monthly basis, the document must show when the recent payment was made or when the next payment is due

• 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 (i.e. Public Liability)
• Amount Description = The type of cover where its liability limit covers any one occurrence (e.g. if the limit of indemnity states $10M any one occurrence in respect of public liability AND in the aggregate in respect of the product liability, we will only record public liability as the amount description)
• Amount = as specific on policy (must be minimum of 10 million (NZD (New Zealand) or AUD (Australia)) or equivalent)