Retail Operators — NZ Commercial Property MDBI
Independent shops, chain retailers, e-commerce fulfilment — stock + glass + theft + BI.
Retail MDBI is dominated by stock value (sum insured), glass + theft sublimits, and BI sensitivity. Online retailers add fulfilment-warehouse risk; bricks-and-mortar add street-frontage glass + walk-in theft.
Risk classes for this industry
- Retail tenant — Independent retailer occupying a leased shop or kiosk — stock, fixtures, glass, business interruption.
- Warehouse / industrial — Distribution + manufacturing facilities — building + stock + plant & equipment + business interruption.
FCIB panel for this industry
FCIB typically places business through: QBE , Zurich New Zealand , NZI .
Watch out for
- Stock at multiple locations needs declared sublimits at each — un-declared additional shopfront/warehouse stock is excluded.
- Online stock-in-transit between warehouses and customers needs separate Marine Cargo / Goods-in-Transit cover.
- BI calculation needs to capture both store + online channel — many wordings default to gross-profit-at-physical-location.
Side-by-side wording extract
QBE
QBE Material Damage & Business Interruption
Sum insured basis
Not on file.
Sublimits
Not on file.
Theft cover
Not on file.
BI indemnity period
Not on file.
Zurich New Zealand
Zurich Material Damage
Sum insured basis
Not on file.
Sublimits
Not on file.
Theft cover
Not on file.
BI indemnity period
Not on file.
NZI
NZI Commercial Property Material Damage
Sum insured basis
Not on file.
Sublimits
Not on file.
Theft cover
Not on file.
BI indemnity period
Not on file.
Delta Insurance
Delta NZ Property MDBI (March 2024)
Sum insured basis
Not on file.
Sublimits
Not on file.
Theft cover
Not on file.
BI indemnity period
Not on file.
Dual New Zealand
DUAL New Zealand MDBI (04.22)
Sum insured basis
Not on file.
Sublimits
Not on file.
Theft cover
Not on file.
BI indemnity period
Not on file.
AIG
AIG Steadfast Material Damage
Sum insured basis
Not on file.
Sublimits
Not on file.
Theft cover
Not on file.
BI indemnity period
Not on file.