global reach local knowledge brochure - zurich · global reach local knowledge. what zurich offers:...
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Global reach local knowledge
What Zurich offers:• Acompanythatisfinanciallysecure
and stable
• Committedtobrokerdistribution
• Choosefrommarket-leadingproducts
• Benefitfromourfullrangeofproducts:
– Motor
– Casualty
– Financial Lines
– Property
– Construction
– Marine
• Marketleadingmotorsystemsandfunctionality–Opendoor
• Worldclassriskengineeringservices andtools–Property,MotorFleet,Casualtyand Marine
• Internationalprograms
• Localaccesstoglobalexpertise
• Enjoyaone-on-oneprofessionalclaimsservice
• SpecialistFinancialLinesandMarineclaimspersonnel
Zurichisabrokers’insurer.Since1872we’vebeenevolvinganddevelopingstrongglobalinsight,expertiseandflexibilitythatyou canleveragetostrengthenyourcustomer’sbusinessagainstrisk.
Thisexpertisehelpsusprotectwhatisvaluabletobusinesses.Ourlonghistoryinformsourunderstandingofeachbusinessesdifferentrequirements.Weareveryresponsivewhenthere’sasituationto solveaswehavethisstrongexpertisetodrawupon.
Withourintermediatedmodel,weknowwhatyouexpectfromyourunderwriters-relevantproductsandfirst-classservice.Wesupportyouratherthancompetewithyou.Zurichstrivestobeyourinsurerofchoicebecauseyouareoursolefocus.Considerusforyourbusiness.
WhyZurich?
Localriskappetite
Current as at 30/06/2020
MarineCargo
• ConsumerProducts
• FoodandBeverage
• IndustrialMetals
• IT/Technology
• Light Manufacturing
• OtherIndustrial&ConsumerProducts
Marine
• PortAuthorities
• SmallShipRepairFacilities
• MarinaOperators
• Freight Forwarders
MotorCommercial 1-10 vehicles:
• Trades
• Professionals
• Retail
Corporate fleets:
• Sedans
• Lightvans
• Manufacturing/Retail
• FinancialInstitutions
• Civilengineering/Construction
• UtilityCompanies
Non-target:
• Agriculturalplant&machinery
• Line haul
• Localtransport
• Logging
Financial Lines
• ProfessionalIndemnity
• Directors&Officers
• FinancialInstitutions
• ManagementLiability
• CommercialCrime
• Cyber,SecurityandPrivacyProtection
• EmploymentPracticesLiability
Property• Sumsinsuredabove$20m
• Officeblocks
• Banks/Financialinstitutions
• Largeshoppingcomplexes
• Residentialbodycorporate.
• Agedcare/RetirementVillages
• Privateschools
• Hospitals/Clinics/HealthCareCentres
• Hotels–largeconstruction(accommodationonly)
• Councils/Governmentassets
• Engineeringindustries–smalltomedium(exceptfoundries)
• Concreteandconcreteproductindustries
• Utilities/Emergencyservices/Transportfacilities
• Non/Lowcombustiblewarehousing(appropriatelyprotected)
Non-target:
• EPSconstruction
• Naturaldisasteroutsidecrestazones1-3(someexceptionscanbemade)
• Combustible/FlammablegoodsWarehousing
• Woodworking/timberproductsorstorage
• Paperproductmanufacturingorstorage
• Plasticsindustries
Casualty
• CombinedGeneralLiability
• EmployersLiability
• StatutoryLiability
Zurich Australian Insurance Limited (incorporatedinAustralia)TradingasZurichNewZealand ABN13000296640,AFSLicenceNo:232507Level9,29CustomsStreetWest,AucklandCentral1010
ClientEnquiries Telephone:0508987424www.zurich.co.nzZU
2121
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V25
08
/20
-SL
AH
-015
96
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020
TheFairInsuranceCodeZurichNewZealandisasignatorytotheFairInsuranceCode.TheFairInsuranceCodeisacodeofpracticethat:
• setsminimumservicestandardsforinsurancecompanies;
• describestheresponsibilitiesthatyouandyourinsurancecompanyhavetoeachother;and
• encouragesprofessionalismintheinsuranceindustry.
TheCodecoversallinsuranceproductsexcepthealthinsuranceandlifeinsurance.TheCodeonlyappliestoindividualsandentitieswith19orfeweremployees.
FurtherinformationabouttheCodecanbeobtainedfrom:https://www.icnz.org.nz/fair-insurance-code/about-the-code/
ZurichisamemberoftheInsuranceandFinancialServicesOmbudsmandisputeresolutionscheme.Intheeventofadispute,youmaybeabletoreferyourcomplainttotheschemeat:
InsuranceandFinancialServicesOmbudsmanSchemePOBox10-845Wellington6143NewZealandFreephone:0800888202
Furtherinformationabouttheschemecanbeobtainedfrom:www.ifso.nz
FinancialStrengthInNewZealand,Zurich’sgeneralinsuranceproductsareunderwrittenbyZurichAustralianInsuranceLimited(ZAIL),tradingasZurichNewZealand.
ZAIL’ssolvencymarginat30June2020wasAUD213m(Jun-19:AUD267m)inexcessofprescribedcapitalamountrequiredbytheAustralianPrudentialRegulationAuthority(APRA),withacapitalratioof1.66(Jun-19:1.81).ThisisbasedontheadjustednetassetsofAUD536m(Jun-19:AUD597m)comparedtoaprescribedcapitalamountofAUD323m(Jun-19:AUD330m).ZAILisregulatedbyboththeAPRAandtheReserveBankofNewZealand.
ZAILhasaninsurerfinancialstrengthratingofA+fromStandard&Poor’s(Australia)PtyLtd.Thisratingshowsthatthecompanyhasstrongfinancialsecuritycharacteristics.
Standard&Poor’sratingscaleforaninsurer’sfinancialstrength,togetherwithasummaryofStandard&Poor’sdescriptionis:AAA(ExtremelyStrong),AA(VeryStrong),A(Strong),BBB(Good),BB(Marginal),B(Weak),CCC(VeryWeak),CC(ExtremelyWeak),R(RegulatorySupervision),NR(NotRated).Ratingsfrom‘AA’to‘CCC’maybemodifiedbytheadditionofaplus(+)orminus(-)signtoshowrelativestandingwithinthemajorratingcategories.Furtherinformationontheseratingsisavailablefromwww.standardandpoors.com.
Anoverseaspolicyholderpreferenceapplies.UnderAustralianlaw,ifZAILiswoundup,itsassetsinAustraliamustbeappliedtoitsAustralianliabilitiesbeforetheycanbeappliedtooverseasliabilities.Tothisextent,NewZealandpolicyholdersmaynotbeabletorelyonZAIL’sAustralianassetstosatisfyNewZealandliabilities.
RemunerationArrangementsZurichNewZealandrequeststhatpriortoarrangingorrenewinganyinsurancecontract,brokersinformtheirclientsoftheremunerationpaymentswhichZurichNewZealandmakestobrokers.ThiscanbedoneatthesametimeasbrokersinformtheirclientsofZurichNewZealand’sfinancialstrengthrating.