PI Scheme

Insured	Members of TNP
Business of The Insured	Sales & Promotion of Life, Investment & General Insurance products, Financial planning & Mortgage Brokering Services
Renewal Date	1st October
Insurer	Lumley General Insurance A- (Standard & Poors) The rating scale is AAA - Extremely Strong AA - Very Strong A - Strong BBB - Good BB - Marginal B - Weak CCC - Very weak CC - Extremely weak

TNP PROFESSIONAL INDEMNITY INSURANCE

Limit of Indemnity	$2,000,000 anyone claim + 1 Reinstatement (per advisor) $3,000,000 anyone claim + 1 Reinstatement (per advisor) $5,000,000 anyone claim + 1 Reinstatement (per advisor)
Shared Excess Layer	$8,000,000 anyone claim and $16,000,000 in the aggregate
Territorial Limits	New Zealand & Australia
Jurisdictional Limits	New Zealand & Australia (where claims can be brought against you that the policy will defend)
Excess	$1,000 each and every claim costs exclusive
Retroactive Date	Unlimited, excluding known claims or circumstances
Investments Extension	$5,000 excess each and every claim exclusive of costs and expenses
Automatic Extensions	Fair Trading Act 1986 Defamation Intellectual Property Joint Venture Liability Dishonesty of Employees Loss of Documents Consultants & Sub-Contractors & Agents Fiduciary Duty Continuous Cover Clause Outgoing Principals, Partners, Directors & Employees Severability Acquisitions & Creations Previous Subsidiaries Run off Cover Automatic reinstatement Costs of Representations of Disciplinary Proceedings Discovery Period Incoming Partners/Directors Principals previous business Fidelity Advice for Acc cover Section 12 Cover Insolvent Insurers Legal Costs Covered

PUBLIC LIABILITY INSURANCE

Limit of Indemnity	Property damage/Bodily Injury	$5,000,000
	Goods products Exemplary Damages	$5,000,000 in the aggregate (NZ only)
	Care, Custody & Control	$250,000 in the aggregate
Territorial Limits	New Zealand and Australia
Jurisdictional Limits	New Zealand and Australia
Excess	Nil

STATUTORY LIABILITY

Limit of Indemnity	$1,000,000
Territorial Limits	New Zealand
Jurisdictional Limit	New Zealand
Excess	Nil
Retroactive Date	Unlimited, excluding known claims or circumstances

EMPLOYERS LIABILITY

Limit of Indemnity	$1,000,000
Territorial Limits	New Zealand
Jurisdictional Limit	New Zealand
Excess	Nil
Retroactive Date	Unlimited, excluding known claims or circumstances

DIRECTORS & OFFICERS LIABILITY

Limit of Indemnity	250,000 per adviser
Territorial Limits	New Zealand
Jurisdictional Limit	New Zealand
Excess	Nil
Purpose of Cover	The liability of directors & Officers is personal. It is unlimited and cannon be contracted out of. If uninsured, directors risk their entire personal wealth. Trust arrangements may not be a complete solution

INTERNET LIABILITY

Limit of Indemnity	$250,000 each and every claim $5,000,000 for all members in the aggregate
Territorial Limits	New Zealand
Jurisdictional Limit	New Zealand
Excess	$1,000

TRUSTEES LIABILITY

ADDITIONAL POLICY OPTION FOR MEMBERS

Employment Disputes

Limit of Indemnity	$250,000 in the aggregate
Excess	$3,000
Additional Premium	$250.00 (plus $25 per employee for more than 4 employees + GST
Purpose of Cover	Provides cover for claims by past present or prospective employees against employers for unjustified dismissal, sexual & racial harassment, and discrimination. Cover for legal defence sots and awards against employer

Limit of Indemnity	Defence & Settlement Costs	Monthly premium no investment	Monthly premium with investment
$2,000,000	$100,000	$110.20	$144.71
$3,000,000	$100,000	$125.15	$164.06
$5,000,000	$100,000	$150.45	$204.51

Investment Advice Extension (Automatically included)
Lumley shall indemnify the insured for Costs & Expenses incurred with the written consent of Lumley in the defence of any claim made against the insured. The limit of indemnity available shall be limited to $100,000 per insured subject to an annual aggregate $1,000,000 for all insured's under the TNP Scheme programme
The excess applicable to this extension shall be $5,000 each and every claim, inclusive of costs and expenses

Download Direct Debit Forms

All enquiries regarding the scheme contact the administrators

Administrators:	Abbott Group www.abbottgroup.co.nz
Contact:	Rachael Bateman rachael@abbott.co.nz Derrick Abbott derrick@abbott.co.nz
Phone:	0800 081 443

Insured:	Members of The National Partnership
Business of the Insured:	Mortgage Brokering Services & Marketing of Insurance Risks Products (if less than 40% of Earnings)
Renewal Date:	1st October

Policy Wording:	As per the expiring wording – amended as further detailed
Retroactive Date:	Unlimited, excluding known claims or circumstances
Territorial Limits:	New Zealand & Australia
Jurisdictional Limits:	New Zealand & Australia
Limit of Indemnity:	$2,000,000, each and every claim and in the aggregate + 1 Reinstatement
Excess:	$1,000 each and every claim excluding costs and expenses
Automatic Extensions:	The policy includes the following automatic extensions: Fair Trading Act 1986 Defamation Intellectual Property Joint Venture Liability Dishonesty of Employees Loss of Documents Consultants and Sub-contractors & Agents Fiduciary Duty Continuous Cover Clause Outgoing Principals, Partners, Directors & Employees Severability Acquisitions and Creations Previous Subsidiaries Run off Cover Automatic Reinstatement Costs of Representations at Disciplinary Proceedings Discovery Period Incoming Partners/Directors/Principals Previous Business Fidelity Investment Advice Extension Acc Advice

Policy Wording:	Lumley Broadform Liability policy wording
Territorial Limits:	New Zealand
Jurisdictional Limits:	New Zealand
Limit of Indemnity:	Property Damage/Bodily Injury	$5,000,000 any one occ
	Goods Products	$5,000,000 in the aggregate
	Exemplary Damages	$1,000,000 in the aggregate(NZ Only)
	Care, Custody & Control	$ 250,000 in the aggregate
Excess:	$nil
Policy Conditions:	None

Policy Wording:	Lumley Statutory Liability Policy wording
Retroactive Date:	Unlimited, excluding known claims or circumstances
Territorial Limits:	New Zealand
Jurisdictional Limits:	New Zealand
Limit of Indemnity:	$1,000,000 each and every claim and in the aggregate
Excess:	$nil inclusive of costs
Policy Conditions:	It is noted and agreed that claims under the: Commerce Act 1986 Companies Act 1993 Fair Trading Act 1986 Financial Reporting Act 1993 Securities Act 1978 Securities Market Act 1988 Including any amendments, enactments or Statutory Regulations of such Acts are subject to: A sub-limit of $500,000 inclusive of all Fines and Defence Costs, any one Period of Insurance shall apply, and An Excess of $10,000, inclusive of Defence Costs, shall apply. Nothing herein contained shall be held to vary, alter, waive or extend the terms, conditions, provisions, agreements or limitations of the above mentioned Policy other than as above stated.

Policy Wording:	Lumley Employers Liability policy wording
Retroactive Date:	Unlimited, excluding known claims or circumstances
Territorial Limits:	New Zealand
Jurisdictional Limits:	New Zealand
Limit of Indemnity:	$1,000,000, each and every Claim and in the aggregate
Excess:	$nil
Policy Conditions:	None

Policy Wording:	Lumley Internet Liability policy wording
Retroactive Date:	31 March 2007, excluding known claims or circumstances
Territorial Limits:	Worldwide
Jurisdictional Limits:	New Zealand
Limit of Indemnity:	$250,000, each and every Claim and $5,000,000 for all members in the aggregate
Excess:	$1,000 each and every claim
Policy Conditions:	None