Compare Directors Insurance NZ
Comparing directors insurance policies in NZ requires looking beyond the premium to understand what each policy actually covers. Here's a guide to the key differences between policies and what to look for.
D&O vs Management Liability
D&O insurance covers directors and officers specifically. Management liability is a broader package adding employment practices liability, statutory liability, and crime cover. For companies with employees, management liability usually offers better overall value.
Key Policy Differences to Compare
When comparing D&O policies, focus on: the definition of 'wrongful act' (broader is better), whether regulatory investigations are covered, the scope of run-off cover provisions, the insolvency protection (Side A coverage), any carve-outs or exclusions specific to your industry, and the insurer's financial strength and claims reputation.
Limits and Retentions
Policy limits in NZ typically range from $1M to $20M or more. A higher limit is better but increases premium. The retention (excess) is the amount you pay before the insurer contributes — a higher retention reduces your premium but means more out-of-pocket on smaller claims.