Commercial Property Landlords / Investors — NZ MDBI
Building owners + investors — building structure + loss-of-rent BI + multi-tenant management.
Landlord MDBI covers the building shell + common areas; tenants insure their own contents. Loss-of-Rent BI (typically 12-24 months) is the dominant BI form. Older buildings carry seismic-strengthening + heritage compliance risk.
Risk classes for this industry
- Mixed-use multi-tenant — Landlord cover on a multi-tenant building — building structure + common areas + tenants' improvements + landlord BI (rent loss).
FCIB panel for this industry
FCIB typically places business through: NZI , QBE , Zurich New Zealand .
Watch out for
- Reinstatement vs indemnity-value choice matters most on landlord cover — old buildings can be massively under-insured at indemnity-value.
- Loss-of-rent BI calculation needs annual rent-roll evidence — gaps create claim disputes.
- Building Act 2004 seismic-strengthening compliance triggers material renovation cost — make sure reinstatement value includes current code requirements.
Side-by-side wording extract
NZI
NZI Commercial Property Material Damage
Sum insured basis
Not on file.
Natural disaster cover
Not on file.
BI indemnity period
Not on file.
Settlement basis
Not on file.
QBE
QBE Material Damage & Business Interruption
Sum insured basis
Not on file.
Natural disaster cover
Not on file.
BI indemnity period
Not on file.
Settlement basis
Not on file.
Zurich New Zealand
Zurich Material Damage
Sum insured basis
Not on file.
Natural disaster cover
Not on file.
BI indemnity period
Not on file.
Settlement basis
Not on file.
Delta Insurance
Delta NZ Property MDBI (March 2024)
Sum insured basis
Not on file.
Natural disaster cover
Not on file.
BI indemnity period
Not on file.
Settlement basis
Not on file.
Dual New Zealand
DUAL New Zealand MDBI (04.22)
Sum insured basis
Not on file.
Natural disaster cover
Not on file.
BI indemnity period
Not on file.
Settlement basis
Not on file.
AIG
AIG Steadfast Material Damage
Sum insured basis
Not on file.
Natural disaster cover
Not on file.
BI indemnity period
Not on file.
Settlement basis
Not on file.