{
  "vertical": "commercial-building",
  "insurer": {
    "slug": "zurich",
    "name": "Zurich New Zealand",
    "brand_family": "zurich"
  },
  "product": {
    "slug": "commercial-md",
    "name": "Zurich Material Damage",
    "status": "active",
    "positioning_summary": null
  },
  "wording": {
    "version": "2026-01-01",
    "ingested_at": "2026-05-27T07:25:18.924231+00:00",
    "pdf_hash": "164ea3e80bbe8742eefdf4a9cd0453dfd233693ce1ed45e838bf6be36f445e55",
    "source_url": "https://edge.sitecorecloud.io/zurichinsur0b40-zwpaustrali7d46-prod0760-b10c/media/project/zurich-headless/shared/content/dam/nz-documents/property-insurance/material-damage-business-interruption-insurance/marerial-damage-policy.pdf",
    "page_count": null
  },
  "confidence_tier": "inferred",
  "facts": {
    "exclusions": [
      "war, invasion, acts of foreign enemies, hostilities or warlike operations (whether war be declared or not), civil war",
      "mutiny, civil commotion assuming the proportions of or amounting to a popular rising, military rising, insurrection, rebellion, revolution, military or usurped power",
      "any act of terrorism",
      "confiscation, requisition, or destruction of or damage to property by order of government or local authority (unless for fire or covered peril control)",
      "nuclear weapons material",
      "ionising radiations or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel",
      "any loss caused directly by or arising directly or indirectly from a cyber incident or a cyber act including any action taken in controlling, preventing, suppressing or remediating such event",
      "total or partial destruction, distortion, erasure, corruption, alteration, misinterpretation or misappropriation of electronic data",
      "error in creating, amending, entering, deleting or using electronic data",
      "total or partial inability to use or failure to receive, send or access electronic data for any time or at all",
      "any loss of use, reduction in functionality, repair, replacement, restoration or reproduction of any electronic data",
      "natural hazard damage (unless Optional Additional Cover 3.3 applies)",
      "landslip, subsidence, erosion or expansion of the land (unless Additional Cover 2.31 applies)",
      "normal settlement, shrinkage or expansion of buildings, foundations, walls, pavements, roads and other structural improvements",
      "any loss, claim, cost or expense directly or indirectly caused by a notifiable disease under the Health Act 1956",
      "any pest management plan under the Biosecurity Act 1993",
      "any communicable disease",
      "losses in respect of transmission and distribution lines (subject to exception for lines within 300 metres of insured structure that are your responsibility)",
      "seismic strengthening costs to a level greater than immediately prior to the loss",
      "loss to any building or structure directly or indirectly caused by failure to contain a material, design, system or reasonable standard of workmanship necessary to prevent or manage moisture or water penetration",
      "cost of repairing or replacing faulty materials, putting right faulty workmanship, or putting right work performed to a faulty design, plan or specification",
      "unexplained disappearances; shortages revealed only by inventory; shortages due to clerical or accounting errors, shoplifting, misplacing of information",
      "your decision to hand over the property to someone else before you have paid for it",
      "theft of insured property from unlocked or insecure vehicles or insured property left in the open air unless in a secure yard",
      "theft or fraud by you or by any of your employees or principals",
      "any fraudulent scheme or device or false pretence practiced on you or on any other person having care of your property",
      "normal working, normal maintenance, wear and tear, erosion, corrosion, gradual deterioration (including gradual deterioration caused by dampness or penetration of moisture), slowly developing deformation or distortion",
      "action of micro-organisms (including but not limited to rot and mould), vermin or insects",
      "the inherent nature of your property (including but not limited to shrinkage, evaporation, loss of weight, change in flavour, colour, texture or finish, action of light)",
      "dust, fumes, smoke or smut from industrial operations (other than sudden and unforeseen damage), moths, termites or other insects, vermin, rust, oxidation, mildew, mould, wet or dry rot, corrosion, change of colour, dampness, or atmosphere",
      "loss in connection with a change in any artificially controlled temperature or atmosphere (subject to Additional Cover 2.24 Refrigerated goods)",
      "property in the course of installation, construction, demolition, erection, or testing (subject to Additional Cover 2.18)",
      "current coin, bank and currency notes, cheques, traveller's cheques, postal notes, money orders, unused postage stamps, redeemable vouchers and tokens, franking machine credits, credit card vouchers, phone cards or other negotiable instruments in excess of $1,000 per loss per situation (subject to Money clause)",
      "jewellery, precious stones, furs, precious metals or bullion (other than as stock of the business or as part of any plant)",
      "motor vehicles and other mechanical or electrically propelled vehicles and accessories (subject to exceptions for unregistered crane/mobile plant and stock)",
      "watercraft and aircraft of every kind and accessories (except as stock or for auction and not in use or on demonstration)",
      "property in transit other than at premises owned or occupied by you (subject to Additional Cover 2.35 Transit)",
      "property damaged as a result of it undergoing any production process where the damage is directly caused by the operation of that process",
      "standing timber, growing crops, crops harvested but not yet in storage, live plants, trees, hedges (other than those covered under building definition), livestock, dams, canals, reservoirs (but not tanks), road or railway tunnels, road or railway bridges (other than at insured premises), docks, piers, wharves, mining property located beneath the surface (unless specified in schedule)"
    ],
    "flood_cover": "covered — flood is a listed peril under the Electronic Data exclusion carve-back and under Additional Cover 2.7 Electronic Data; flood is referenced as an insured peril throughout the policy; no specific sub-limit stated for flood in the wording",
    "glass_cover": "covered under contents definition which extends to include landlord's glass, fixtures and fittings; Additional Cover 2.34 Theft covers theft including glass; no specific standalone glass sublimit stated in the wording",
    "claims_basis": "occurrence — cover applies if 'during the period of insurance, a loss happens to any of your property at the situation'",
    "excess_basis": "per event — 'excess means the first amount you bear in relation to each loss'; an event is defined as continuous or repeated exposure to substantially the same conditions or a series of events from one source/cause; a series of events from any one cause during any 72 consecutive hours is treated as one event",
    "flood_excess": "standard per-event excess as stated in the schedule applies; no separate flood-specific excess is stated in the wording",
    "valuation_basis": "replacement value for property designated in the schedule as being insured for replacement value; indemnity value (market value) for all other property; specific bases apply to customers' goods (market value), stock (replacement cost of raw materials/labour or market value), electric motors >7 years (depreciated replacement cost), portable tools of trade (age-dependent replacement or market value)",
    "earthquake_cover": "excluded by default under Exclusion 5 (natural hazard damage excluded unless explicitly stated in the policy and/or specifically shown in the schedule); available as Optional Additional Cover 3.3 Natural Disaster (Earthquake etc) — extends cover to loss directly or indirectly caused by natural hazard (earthquake, hydrothermal/geothermal activity, subterranean fire, volcanic activity, tsunami, or fire caused by any of these perils) or measures taken under proper authority to avoid spreading or reduce consequences; only applies to property for which indemnity is not provided under the NHI Act 2023; for NHI residential property, liability is limited to costs in excess of NHI Act cover",
    "earthquake_excess": "the excess to be paid by you is the amount or percentage shown in the schedule; for NHI residential property the minimum site deductible amount specified in the schedule applies to each and every claim; the excess under this policy only applies to the extent it exceeds the amount of cover (including excess) under the NHI Act",
    "territorial_scope": "New Zealand — 'situation means the situations described in the schedule located in New Zealand'; portable tools of trade covered anywhere in the world while away from business premises; transit cover applies anywhere in New Zealand including between New Zealand ports; general average cover applies between places in New Zealand by sea or air; temporary removal cover applies to any place in New Zealand",
    "standard_excess_nzd": "the amount stated in the schedule; portable tools of trade excess is $1,000 per event (unless different amount in schedule); subsidence/landslip excess is $20,000 per event (or schedule amount); theft excess is $2,500 per event (unless stated otherwise in schedule); portable tools away from premises excess is $1,000 per event",
    "bomb_terrorism_cover": "excluded — Exclusion 1 excludes any act of terrorism (including use or threat of force or violence for political, religious, ideological, ethnic or similar purposes) and war/warlike operations; no terrorism pool reference or sublimit provided",
    "indemnity_value_available": "y — indemnity value (value of property insured at the time of loss, sufficient to place you back in the same financial position to that immediately prior to the loss) applies to all property not designated for replacement value, including customers' goods, employees' and directors' property, and machinery breakdown claims where equipment is >10 years old",
    "machinery_breakdown_cover": "optional — available under Optional Additional Cover 3.2 Machinery Breakdown (must be shown in schedule); extends cover to mechanical, electrical or electronic breakdown of machinery or electrical equipment; settlement on replacement cost if <10 years old, indemnity value if >10 years old; excludes belts, ropes, tyres, glass, ceramics, wear and tear, gradual deterioration, alterations/maintenance; limit as specified in schedule",
    "replacement_value_available": "y — available only for property designated in the schedule as insured for replacement value, subject to the Reinstatement clause; specific age limits apply to electric motors (7 years), portable tools/electric equipment (5 years), portable computers/video projectors (2 years), other portable tools (10 years); modern equivalent materials, skills and techniques; must incorporate alterations to comply with any Act of Parliament or Regulation in force at date of loss",
    "reinstatement_of_sum_insured": "partial automatic reinstatement for contents and stock only: sum insured for contents/stock at any situation is increased by 10% or $100,000 (whichever is lesser) during the period of insurance; this increase does not apply to Natural Disaster (Earthquake) optional cover; no general automatic reinstatement clause after partial loss is stated",
    "sum_insured_inflation_adjustment": "none — no automatic inflation adjustment basis is stated in the policy wording",
    "volcanic_tsunami_landslide_cover": "volcanic activity and tsunami are included within the definition of 'natural hazard' and are covered under Optional Additional Cover 3.3 Natural Disaster (Earthquake etc) where that cover is activated in the schedule; landslip/subsidence is excluded by default under Exclusion 5 but covered under Additional Cover 2.31 Subsidence or Landslip (sudden and unforeseen subsidence or landslip) subject to a $500,000 limit per event and a $20,000 excess (or schedule amount); land removal limited to 5 metres from external walls up to $10,000"
  },
  "endpoints": {
    "summary": "/api/product/zurich/commercial-md/summary.md",
    "wording": "/api/product/zurich/commercial-md/wording.md",
    "history": "/api/product/zurich/commercial-md/history.json"
  },
  "canonical_url": "https://commercialbuildinginsurance.co.nz/api/product/zurich/commercial-md/facts.json",
  "generated_at": "2026-05-27T07:28:02.565Z",
  "license": "CC BY 4.0 — attribute https://commercialbuildinginsurance.co.nz"
}