{
  "vertical": "commercial-building",
  "insurer": {
    "slug": "dual-nz",
    "name": "Dual New Zealand",
    "brand_family": "dual"
  },
  "product": {
    "slug": "commercial-md",
    "name": "DUAL New Zealand MDBI (04.22)",
    "status": "active",
    "positioning_summary": null
  },
  "wording": {
    "version": "2022-04-01",
    "ingested_at": "2026-05-27T07:27:03.138011+00:00",
    "pdf_hash": "62ee862d3bfda5d4e19c1e5d818838b2e4adff01ccabfc3d3d502a20f9ae9137",
    "source_url": "https://nz.dualinsurance.com/hubfs/DUAL%20ANZ/DUAL%20New%20Zealand/NZ%20policy%20wording/DUAL-NZ-MDBI-Wording.pdf",
    "page_count": null
  },
  "confidence_tier": "inferred",
  "facts": {
    "bi_basis": "Item A: Loss of Gross Profit — sum produced by applying the Rate of Gross Profit to the reduction in Turnover during the Indemnity Period, plus increase in cost of working necessarily and reasonably incurred to avoid or diminish the reduction in Turnover, less savings; Item B: Loss of Gross Revenue — amount by which Gross Revenue falls short during the Indemnity Period plus increase in cost of working, less savings; Item C: Loss of Rental Income — amount by which Rental Income falls short during the Indemnity Period plus increase in cost of working, less savings; Item D: Wages (Dual Basis) — Rate of Wages applied to Shortage in Turnover during Indemnity Period plus increase in cost of working",
    "exclusions": [
      "Explosion, rupture, bursting, cracking, leaking, or collapse of any steam boiler or pipe or economiser or any other pressure vessel due to fluid pressure within or without (Boilers and Pressure Vessels)",
      "Mechanical or electrical Breakdown of machinery or electrical equipment (applies only to the machine or equipment in which the Breakdown occurs; resultant Damage to other Insured Property not excluded)",
      "Insured Property in the course of installation, construction, demolition, erection, or testing following any of them (Contract Works)",
      "Damage directly resulting from shortages revealed only by the taking of an inventory or shortages due to clerical or accounting errors (Disappearance)",
      "Any Damage, cost, claim or expense directly or indirectly arising out of or relating to the calculation, comparison, differentiation, sequencing or processing of data involving the date change to the year 2000 or any other date change including leap year calculations (Electronic Date Recognition)",
      "The cost of repairing or replacing defective materials; putting right defective workmanship; putting right work performed to a defective design plan or design specification (Faulty Materials, Workmanship or Design)",
      "Damage to the Insured Property, or part immediately affected, caused by or arising out of fumes, dust, smoke or soot (resultant Damage to other Insured Property not excluded)",
      "Damage directly caused in respect of the Insured Property, or part immediately affected, by total or partial cessation of work, retarding or interruption or cessation of any process (Interruption)",
      "Damage to Insured Property directly caused by, or resulting from, subsidence, landslip or erosion of land (Land Movement)",
      "Damage to Insured Property directly caused by, or resulting from, Natural Disaster unless specified with a Sum Insured in the Schedule (Natural Disaster — earthquake, subterranean fire, volcanic eruption, tsunami, geothermal activity, hydrothermal activity)",
      "Damage to Insured Property, or part immediately affected, caused by or arising out of the nature of the property including shrinkage, evaporation, loss of weight, change in flavour, colour, texture or finish, or the action of light (Nature of the Property)",
      "Wear and tear, erosion, corrosion, slowly developing deformation or distortion or the consequences of normal working; mould, rot, vermin or insects; cost of normal maintenance (Normal Damage)",
      "Confiscation, requisition or Damage to Insured Property by lawful order of any government or local authority unless the order is given for the purpose of controlling any insured peril (Order of Authorities)",
      "Damage caused by or arising out of pollution or contamination unless the pollution or contamination itself is caused by an Accidental event not otherwise excluded (Pollution)",
      "Jewellery, precious stones, furs, precious metals or bullion other than as Stock of the Business or as part of any plant that forms part of the Contents of the Business (Precious Goods)",
      "Any Damage, cost or expense directly or indirectly caused by, resulting from or in consequence of any Insured Property where such property has pre-existing damage or deferred maintenance at the inception date of this insurance (Pre-Existing Damage or Deferred Maintenance)",
      "Damage to Insured Property caused by the normal operation of a process where the Damage is a direct and natural consequence of the process (Process)",
      "Damage to Insured Property directly resulting from theft by any of the Insured's employees; or theft by any other person unless accompanied by violence or threat of violence or by violent or forcible entry to or exit from the Premises (Theft)",
      "Damage to Insured Property or part immediately affected, directly or indirectly caused by interruption of the supply to the site of water, gas, electricity or any fuel (Utilities)",
      "war and warlike operations (General Exclusions — to be confirmed from full General Exclusions text)",
      "nuclear risks (General Exclusions — to be confirmed from full General Exclusions text)"
    ],
    "flood_cover": "covered as part of the general 'Accidental physical loss or damage' insuring clause under Section 1, subject to exclusions; flood is also a named cause under the Transit (Limited Cover) Extension; no specific flood sub-limit stated in the wording (limits set in Schedule)",
    "glass_cover": "Buildings definition includes fixed signs and lettering; accidental physical damage to Buildings is covered under Section 1; no separate glass-specific extension or sublimit identified in the wording",
    "claims_basis": "occurrence — cover applies to Damage that 'happens' during the Period of Insurance",
    "excess_basis": "per Event — 'Event' means loss or series of losses directly occasioned by and arising from one and the same event; where an Event occurs over more than 72 consecutive hours, one Deductible is deducted for every 72 consecutive hour period",
    "flood_excess": "standard Deductible as stated in the Schedule applies; specific flood excess not separately stated in the wording",
    "valuation_basis": "replacement value for Buildings, Contents and Other Property where designated RV, FRV or SRV in the Schedule; indemnity value for property designated IV and for Machinery Breakdown items 10 years of age or older",
    "earthquake_cover": "excluded by default under Exclusion 10 (Natural Disaster exclusion) unless specified with a Sum Insured in the Schedule; available as Extension 16 (Natural Disaster) covering earthquake, subterranean fire, volcanic eruption, tsunami, geothermal activity, hydrothermal activity or fire occasioned by any of these; where residential property is insured and compulsory EQC cover under the Earthquake Commission Act 1993 applies, Insurers' liability is limited to the difference between the EQC amount paid or payable and the applicable Sum Insured",
    "earthquake_excess": "Deductible as stated in the Schedule applies; for EQC-covered residential property the applicable Deductible is the difference between the Deductible stated in the Schedule and the amount recoverable from EQC, but only if the Schedule Deductible exceeds the EQC payment — specific percentage or minimum dollar amount not stated in the wording (set in Schedule)",
    "territorial_scope": "within the territory or locations named in the Schedule ('Territory' defined as such); Temporary Removal Extension covers anywhere in the Territory including transit but not international transit; Transit extensions limited to within the Territory including transit between ports of the same country but not international transit",
    "bomb_terrorism_cover": "not explicitly addressed in the wording — no terrorism pool reference or specific terrorism sublimit found",
    "indemnity_value_available": "y — applies to Buildings and Other Property designated 'IV' (Indemnity Value) in the Schedule, and to Machinery Breakdown items 10 years of age or older; defined as 'the value of Insured Property at the time of Damage, being an amount sufficient to place the Insured back in the same financial position to that immediately prior to the Damage'",
    "machinery_breakdown_cover": "available as optional Extension 14 (Machinery Breakdown) subject to a Sum Insured specified in the Schedule; covers mechanical, electrical or electronic breakdown of machinery or electrical equipment being Insured Property; settlement on replacement cost for items less than 10 years old and Indemnity Value for items 10 years or older; requires maintenance in accordance with manufacturer's instructions as a condition of cover",
    "average_coinsurance_clause": "Margin Clause (Condition e) applies to Contents, Stock and Other Property — Insurers' liability will not exceed 110% of the Sum Insured for each category at each Premise where more than one Premise is listed; this Margin Clause does not apply to Natural Disaster Damage; no general average/co-insurance penalty clause identified in the wording",
    "replacement_value_available": "y — applies to Buildings, Contents and Other Property designated 'RV' (Reinstatement Value), 'FRV' (Functional Replacement Value) or 'SRV' (Specified Replacement Value) in the Schedule; for Machinery Breakdown, replacement cost applies to items less than 10 years old only; no depreciation reduction where Damage is repaired under Machinery Breakdown extension",
    "reinstatement_of_sum_insured": "not explicitly stated in the wording — no automatic reinstatement clause or sublimit on number of reinstatements found",
    "sum_insured_inflation_adjustment": "none — no automatic inflation adjustment clause found in the wording",
    "volcanic_tsunami_landslide_cover": "volcanic eruption, tsunami, geothermal and hydrothermal activity are part of the defined 'Natural Disaster' and excluded by default under Exclusion 10 unless Extension 16 (Natural Disaster) is specified with a Sum Insured in the Schedule; landslip is excluded under Exclusion 9 (Land Movement) by default but available via Extension 12 (Landslip) subject to a Schedule Sum Insured and the greater of the Schedule Deductible or $10,000; subsidence available via Extension 26 subject to Schedule Sum Insured and the greater of the Schedule Deductible or $10,000"
  },
  "endpoints": {
    "summary": "/api/product/dual-nz/commercial-md/summary.md",
    "wording": "/api/product/dual-nz/commercial-md/wording.md",
    "history": "/api/product/dual-nz/commercial-md/history.json"
  },
  "canonical_url": "https://commercialbuildinginsurance.co.nz/api/product/dual-nz/commercial-md/facts.json",
  "generated_at": "2026-05-27T07:28:02.219Z",
  "license": "CC BY 4.0 — attribute https://commercialbuildinginsurance.co.nz"
}