Totika Scheme - Insurances

	Competency Name	Competency Requirements	Processing Requirements	Example Documents

	Competency Name	Competency Requirements	Processing Requirements	Example Documents
1	Asbestos Liability Insurance	Business name and NZBN needs to match the organisation registered. If it doesn't match, evidence must be provided to link the NZBN or business names together. This is ideally a letter or download from NZBN office showing the linkage. There is no minimum amount, amount does not need to be recorded Must be current Must specify Asbestos Liability Insurance	Issue Date = Start of coverage date listed on policy Expiry Date = Coverage end date listed on policy (if the policy is paid on a monthly basis the expiry will be set when the next payment is due) Insurer = Insurer will be listed in policy content Policy Number = As specified on the policy Item = Asbestos Liability Insurance as specified on the policy Amount Description = Not required Amount = Not required
2	Employers Liability Insurance	Business name and NZBN needs to match the organisation registered. If it doesn't match, evidence must be provided to link the NZBN or business names together. This is ideally a letter or download from NZBN office showing the linkage. There is no minimum amount, coverage amount to be recorded Must be current Must specify Employers Liability Insurance	Issue Date = Start of coverage date listed on policy Expiry Date = Coverage end date listed on policy (if the policy is paid on a monthly basis the expiry will be set when the next payment is due) Insurer = Insurer will be listed in policy content Policy Number = As specified on the policy Item = Employers Liability Insurance as specified on the policy Amount Description = Same as item Amount = Coverage amount as specified on policy
3	Statutory Liability Insurance	Business name and NZBN needs to match the organisation registered. If it doesn't match, evidence must be provided to link the NZBN or business names together. This is ideally a letter or download from NZBN office showing the linkage. There is no minimum amount, coverage amount to be recorded Must be current Must specify Statutory Liability Insurance	Issue Date = Start of coverage date listed on policy Expiry Date = Coverage end date listed on policy (if the policy is paid on a monthly basis the expiry will be set when the next payment is due) Insurer = Insurer will be listed in policy content Policy Number = As specified on the policy Item = Statutory Liability Insurance as specified on the policy Amount Description = Same as item Amount = Coverage amount as specified on policy
4	Professional Indemnity Insurance	Business name on certification to match the organisation registered. If it doesn't match, evidence must be provided to link the NZBN or business names together. This is ideally a letter or download from NZBN office showing the linkage. Note: If a letter of linkage is supplied, the documentation will need to be sent to site for their approval prior to verification There is no minimum amount, coverage amount to be recorded Must be current Must state one of the accepted types: Professional Indemnity Errors & Omissions Professional Liability If the document indicates self-insured, the document is required to be escalated to site for approval If the policy does not list one of the accepted types, a Product Disclosure Statement (PDS) is required If the Product Disclosure Statement (PDS) states one of the accepted types, the insurance and PDS need to be uploaded together for approval If the Product Disclosure Statement (PDS) does not state one of the accepted types, the documents need to be escalated to site for approval	Issue Date = Start of coverage date listed on policy Expiry Date = Coverage end date listed on policy (if the policy is paid on a monthly basis the expiry will be set when the next payment is due) Insurer = Insurer will be listed in policy content Policy Number = As specified on the policy Item = Type of coverage / policy Amount Description = Same as item Amount = As specified on policy
5	Public and/or Product Liability Insurance	Business name on certification to match the organisation registered. If it doesn't match, evidence must be provided to link the NZBN or business names together. This is ideally a letter or download from NZBN office showing the linkage. Note: If a letter of linkage is supplied, the documentation will need to be sent to site for their approval prior to verification There is no minimum amount, coverage amount to be recorded Must be current Must state one of the accepted types: Public Liability Public & Products Liability Broadform Liability General Liability Business Liability Legal Liability Umbrella Liability Commercial Liability Specialty Liability International Liability If the document indicates self-insured, the document is required to be escalated to site for approval If none of the above accepted policy types are listed, however the document states “Business Pack Insurance” or “Trades Pack Insurance”, this can be accepted Note: Insurance types can be listed in the limit section of the policy (Eg. Under the Class or description it may refer to General Liability however under the limit or interest insured section if it refers specifically to an accepted type listed above this would be deemed acceptable.) The following types are not accepted: IT Liability	Issue Date = Start of coverage date listed on policy Expiry Date = Coverage end date listed on policy (if the policy is paid on a monthly basis the expiry will be set when the next payment is due) Insurer = Insurer will be listed in policy content Policy Number = as specified on the policy Item = Type of of coverage / policy Amount Description = Same as item Amount = As specified on policy