This policy provides cover for certain “residual commercial risks” that may fall outside the scope of Professional Indemnity cover. It augments NZ specific Professional Indemnity insurance with “difference in conditions” protection.
An example might be to cover the liability Directors & Officers may have for any “wrongful acts” in the management of a firm that may fall outside the scope of Professional Indemnity Cover.
It is available for the directorships and appointments within a Member Firm, and for any outside appointments to other Companies undertaken by principals and staff on behalf of the firm.
This extended coverage is not intended to apply to any listed companies.