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Warehouse + Industrial — NZ Commercial Property Cover

Distribution + manufacturing facilities — building + stock + plant & equipment + business interruption.

Warehouses + industrial facilities run large MD sums insured (often $10M+) with significant Plant & Equipment cover. BI indemnity periods stretch to 24-36 months for facilities needing council/consents to rebuild. Sprinkler systems + fire-detection compliance + automatic-protection sublimits are key premium dials.

FCIB panel for this risk class

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

What matters in the wording

Relevant fact keys for this risk class:

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

Watch out for

  • Sprinkler / fire-protection system MUST be operational AND inspected — a lapsed inspection certificate can void cover at claim time.
  • Stock at multiple locations needs declared sublimits at each — un-declared additional warehouses are excluded.
  • EQ-zone classification (TC1/TC2/TC3) drives natural-disaster excess — Christchurch + Wellington facilities pay materially more.

Side-by-side wording extract

NZI

NZI Commercial Property Material Damage

Sum insured basis

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Settlement basis

Not on file.

QBE

QBE Material Damage & Business Interruption

Sum insured basis

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Settlement basis

Not on file.

Zurich New Zealand

Zurich Material Damage

Sum insured basis

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Settlement basis

Not on file.

AIG

AIG Steadfast Material Damage

Sum insured basis

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Settlement basis

Not on file.

Delta Insurance

Delta NZ Property MDBI (March 2024)

Sum insured basis

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Settlement basis

Not on file.

Dual New Zealand

DUAL New Zealand MDBI (04.22)

Sum insured basis

Not on file.

Sublimits

Not on file.

Perils covered

Not on file.

BI indemnity period

Not on file.

Natural disaster cover

Not on file.

Settlement basis

Not on file.