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Mixed-Use / Multi-Tenant Building — NZ Commercial Property (Landlord)

Landlord cover on a multi-tenant building — building structure + common areas + tenants' improvements + landlord BI (rent loss).

Multi-tenant landlord MDBI covers building + common areas; tenants insure their own contents/stock. Loss of Rent / Rent Receivable BI is the typical BI basis (12-24 months). Mixed-use (retail-on-ground + residential-or-office above) requires careful sum-insured allocation between zones. EQ-zone + heritage status drive natural-disaster excess.

FCIB panel for this risk class

For this risk class, FCIB typically places business through: NZI , QBE , Zurich New Zealand .

What matters in the wording

Relevant fact keys for this risk class:

  • sum_insured_basis — Sum insured basis
  • settlement_basis — Settlement basis
  • indemnity_period — BI indemnity period
  • natural_disaster_cover — Natural disaster cover
  • sublimits — Sublimits
  • perils_covered — Perils covered

Watch out for

  • Building reinstatement value MUST include current building-code compliance costs — old buildings often under-insured because original cost is the anchor.
  • Tenant improvements/fitout cover is usually a separate sublimit — clarify with each tenant who insures what.
  • Loss of Rent BI calculation needs annual rent roll evidence — gaps in tenancy history create BI claim disputes.

Side-by-side wording extract

NZI

NZI Commercial Property Material Damage

Sum insured basis

Not on file.

Settlement basis

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.

QBE

QBE Material Damage & Business Interruption

Sum insured basis

Not on file.

Settlement basis

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.

Zurich New Zealand

Zurich Material Damage

Sum insured basis

Not on file.

Settlement basis

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.

Delta Insurance

Delta NZ Property MDBI (March 2024)

Sum insured basis

Not on file.

Settlement basis

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.

Dual New Zealand

DUAL New Zealand MDBI (04.22)

Sum insured basis

Not on file.

Settlement basis

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.

AIG

AIG Steadfast Material Damage

Sum insured basis

Not on file.

Settlement basis

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.