{
  "vertical": "commercial-building",
  "insurer": {
    "slug": "delta-insurance",
    "name": "Delta Insurance",
    "brand_family": "delta"
  },
  "product": {
    "slug": "commercial-md",
    "name": "Delta NZ Property MDBI (March 2024)",
    "status": "active",
    "positioning_summary": null
  },
  "wording": {
    "version": "2024-03-01",
    "ingested_at": "2026-05-27T07:26:05.777703+00:00",
    "pdf_hash": "8c8b2126a5e383c86e0696c770e4c2c5ec5907fc86fb9e0ad97b018f9f449d5e",
    "source_url": "https://deltainsurance.co.nz/hubfs/Documents%20-%20policy%20wordings/DELTA%20NZ_Property%20MDBI_Policy%20Wording_March%202024.pdf",
    "page_count": null
  },
  "confidence_tier": "inferred",
  "facts": {
    "bi_basis": "Gross Profit: rate of Gross Profit multiplied by Reduction In Turnover, plus increase in cost of working (capped at Gross Profit rate applied to reduction avoided), less savings in costs; Gross Revenue: shortfall in Gross Revenue during Indemnity Period plus increase in cost of working (capped at reduction avoided); Gross Rentals: shortfall in Gross Rentals during Indemnity Period plus increase in cost of working; Additional Cost of Working also available as a standalone item",
    "exclusions": [
      "the applicable Excess stated in the Schedule",
      "fraudulent misappropriation of Insured Property committed by any employee, partner or director of the Insured",
      "voluntarily parting with title or possession of any Insured Property if induced to do so by any fraudulent scheme, trick or false pretence",
      "any consequential economic loss including penalties, loss of use of any property, delays or loss of market",
      "Loss Or Damage caused solely by exposure to weather conditions to Insured Property not normally left in the open unless reasonable precautions have been taken",
      "unexplained loss or inventory shortages revealed only at stocktaking or shortages due to accounting or clerical errors",
      "Loss Or Damage caused by or resulting from normal settling, shrinkage or expansion of Building or foundations",
      "Loss Or Damage caused by landslip, subsidence, erosion or expansion of the ground",
      "Loss Or Damage to Insured Property deliberately caused by You",
      "design fault, error or omission in design, plan or specification",
      "wear and tear, gradual deterioration, corrosion",
      "vermin or insects",
      "change in artificially controlled temperature or atmosphere",
      "fumes, gas, dust, smoke or smuts, action of light, inherent nature of the property, shrinkage, evaporation, loss of weight, change of flavour, colour, texture or finish, pollution, contamination, and interruption of the supply of water, gas, electricity or fuel",
      "Loss Or Damage to any plant or equipment directly caused by its own electrical malfunction",
      "Loss Or Damage to Stock undergoing any production process where the Loss Or Damage is directly caused by the normal operation of that process",
      "Loss Or Damage directly caused by explosion, rupture, bursting, cracking, leakage, collapse, of steam boilers due to fluid pressure within or without (other than pressure caused by chemical explosion)",
      "Loss Or Damage directly caused by mechanical or electronic breakdown of machinery or electrical equipment",
      "any costs incurred for the purpose of seismically strengthening the Insured Property to a performance level greater than its performance level before the Loss Or Damage",
      "shortages caused by errors in receiving or paying out Money",
      "fraud or dishonesty of any employee of the Insured unless discovered within 72 hours (excluding Saturday, Sunday and/or Public Holiday) of its occurrence",
      "payment of Money for or in consideration of a cheque which is subsequently dishonoured",
      "Money being entrusted to any person other than You, Your employees, Your authorised agents, or a professional Money carrier",
      "war and warlike operations (general policy exclusions — referenced but full text truncated)",
      "nuclear (general policy exclusions — referenced but full text truncated)"
    ],
    "flood_cover": "covered as an Event under the insuring clause — not explicitly excluded; no specific sub-limit stated in wording (sub-limits if any would be in Schedule)",
    "glass_cover": "not specifically addressed as a standalone cover in the wording; glass forming part of a Building would be covered under the general insuring clause as Insured Property subject to Loss Or Damage caused by an Event",
    "claims_basis": "occurrence — cover is for Loss Or Damage occurring during the Period Of Insurance",
    "excess_basis": "per Event — the applicable Excess stated in the Schedule is deducted from any payment in respect of each claim or series of claims arising from any one Event; where an Event occurs over more than 72 consecutive hours, one excess is deducted per 72 consecutive hour period",
    "flood_excess": "applicable excess as stated in the Schedule; one excess per 72 consecutive hour period for events extending beyond 72 hours",
    "valuation_basis": "Indemnity Value for buildings, contents and other property (default); Replacement Value (reinstatement) where elected and shown in Schedule; replacement value for stock; replacement value for electronic items up to 3 years old",
    "earthquake_cover": "covered for Natural Disaster Damage (defined as earthquake, subterranean fire, volcanic eruption, tsunami, geothermal activity, hydrothermal activity or fire occasioned by or through or in consequence of any of these); for residential buildings and personal property as defined under Natural Hazards Insurance Act 2023, cover is excess of Natural Hazards Commission (NHC) payment; no automatic reinstatement of sum insured after Natural Disaster Damage unless agreed in writing",
    "earthquake_excess": "applicable excess as stated in the Schedule; where an Event occurs over more than 72 consecutive hours, one excess is deducted per 72 consecutive hour period; specific earthquake excess rate not stated in wording — refer to Schedule",
    "territorial_scope": "New Zealand — Insured Property at the Situation as stated in the Schedule; temporary removal cover applies within New Zealand (clause 5.25); transit cover within New Zealand and internationally until goods pass over ship's rail or through air transport loading doors for overseas transit; suppliers and customers extensions limited to New Zealand premises",
    "bomb_terrorism_cover": "not explicitly addressed or excluded in wording — no terrorism pool reference; general exclusions do not specifically exclude terrorism; refer to Schedule and general policy exclusions",
    "bi_waiting_period_hours": 24,
    "indemnity_value_available": "y — default basis for buildings, contents and other property not specifically scheduled for reinstatement; defined as cost of repair to pre-loss condition, or replacement with property of similar condition/age/specification, or market value immediately prior to loss",
    "machinery_breakdown_cover": "limited automatic cover included: mechanical or electrical breakdown of motors not exceeding 5kw covered up to Sub-Limit shown in Schedule (clause 5.14); computer/electronic systems breakdown covered up to Sub-Limit shown in Schedule (clause 5.5); general mechanical/electronic breakdown of machinery excluded under exclusion 7.13 except where caused by an external Event",
    "average_coinsurance_clause": "not explicitly stated as a co-insurance or average clause in the wording; Special Provision 2 requires the Sum Insured to be not less than the estimated cost of reinstatement as certified by an acceptable valuer, adjusted at renewal within two months of renewal date",
    "replacement_value_available": "y — available where reinstatement is elected and shown in Schedule; applies to buildings (equivalent building using modern materials), contents and plant (equivalent property); electronic items replacement value where no more than 3 years old; no payment beyond Indemnity Value if reinstatement not commenced promptly or elected",
    "reinstatement_of_sum_insured": "automatic reinstatement after partial loss from the date Insured Property is fully repaired, replaced or reinstated; pro-rata premium payable; no automatic reinstatement following Natural Disaster Damage unless specifically agreed in writing by insurer; applies to both Material Damage and Business Interruption sections",
    "sum_insured_inflation_adjustment": "none — no automatic inflation adjustment basis stated in wording; sum insured may be adjusted at renewal if valuation is provided within two months of renewal date",
    "volcanic_tsunami_landslide_cover": "volcanic eruption and tsunami covered as Natural Disaster Damage; landslip and subsidence covered up to Sub-Limit shown in Schedule under additional cover clause 5.13 (overrides exclusion 7.8); erosion excluded under exclusion 7.8 unless covered by 5.13"
  },
  "endpoints": {
    "summary": "/api/product/delta-insurance/commercial-md/summary.md",
    "wording": "/api/product/delta-insurance/commercial-md/wording.md",
    "history": "/api/product/delta-insurance/commercial-md/history.json"
  },
  "canonical_url": "https://commercialbuildinginsurance.co.nz/api/product/delta-insurance/commercial-md/facts.json",
  "generated_at": "2026-05-27T07:28:01.832Z",
  "license": "CC BY 4.0 — attribute https://commercialbuildinginsurance.co.nz"
}