Insurance

Managing the risks your business faces each day is a crucial role for every business owner. But when you’re busy running a business, you have more important things to do than worry whether your insurance will provide enough cover if the worst happens:

• Are my sums insured adequate?
• Does my policy cover me for everything I need?
• Who do I call if my business suffers a fire in the early hours of the morning or late at night?

National Bank Business Cover is a unique package, specifically designed for businesses like yours. It simplifies insurance by bringing a full range of business protection under one umbrella.

And if the worst happens, you can rest assured knowing that the 24 hour claims line will be working for you no matter what time of the day or night disaster strikes.

Based on experience

Business Cover protects four major areas – assets, loans, liabilities and the cost of interruptions to your operations following an insured event. Experience has shown these are risks that businesses should protect themselves against.

Business Cover provides you with easy access to a professional insurance package exclusive to National Bank customers.

• Asset Protection - The assets of the business are automatically insured for replacement value up to $1,000,000. In many cases additional assets purchased during the year will also be automatically covered.

• Protection against loss of profits – You don’t have to engage your accountant to determine the level of protection you should have – you’ll automatically have cover up to $1,000,000 for loss of gross profit and wages following any insured damage to your business.
• Protection against Public Liability
  • General Liability (also known as Public Liability) covers you for accidental damage or personal injury to others and your liability as a tenant for any damage caused to premises your business occupies, up to $2,000,000.
  • Employer’s Liability protects you against damages and legal defence costs that arise out of employee injury, including gradual process conditions like stress, during the time of their employment, up to $1,000,000.
  • Statutory Liability covers you for legal defence costs, fines and penalties for alleged breaches of all but nine Acts of Parliament, up to $1,000,000. The excluded Acts are mostly related to crime and transport.*
• Business Debt Protection – Covers the full repayment of your maximum business debt up to the sum insured, in the event of the death or terminal illness of any one of the insured Shareholders, Partners or Directors, and all proceeds not required for debt settlement are paid into the company.

* Fines imposed under the Health and Safety in Employment Act are not insured.

*Longer indemnity periods may be available.

Contact your Business Banking Manager for more information, including fees, charges and terms. Or call 0800 16 88 88 and we will put you in touch with the Business Banking Manager nearest you.