Specific to NZ’s regulatory environment, this protects businesses and individuals from financial penalties and legal costs arising from unintentional breaches of government Acts. It typically covers:
- Fines and Penalties: Costs for fines or penalties imposed by regulatory authorities for unintentional violations of statutes, (excluding Healthy & Safety Fines).
- Legal Defence Costs: Expenses for defending legal actions or investigations related to alleged breaches, including lawyer fees and court costs.
This insurance is vital for all businesses navigating New Zealand’s regulatory environment, particularly in industries with strict compliance requirements.
Subject to variations in insurers wording, exclusions and case specific endorsements.
