Insurances

In the advent of the soaring cost of everything, naturally many of you are looking at ways to reduce costs, without stretching already strained resources too thinly. One area we feel is seriously overlooked is business insurances. The first aspect we intend to cover is our Audit Shield partnership that we have been offering for several years. This really should not be seen as a cost, but more a necessary investment. IRD have been on the proverbial warpath of late and are investigating all manner of things, be it GST refunds, unpaid taxes and in some cases reviewing the circumstances in which Resurgence Payments were issued. Having an Audit Shield policy in place means that for any IRD investigations or queries – it is Audit Shield who will pay MDA for the costs of these, and not yourselves. You would have only paid the modest premium amount invoiced at the beginning of the financial year. Give us a call if you want to learn more.

The second and more recent development in this area is our new insurance partnership offer. We work with insurance advisors specialising in all aspects of business insurances. There are a number of options that are available to reduce policy premiums and keep ongoing costs sustainable. In addition, there are free benefits that insurers are increasingly offering to their clients (free Wills, Wellness Programmes, up to 20% Premiums Discounts) that you can take advantage of. We can also perform reviews on company ACC cover and reduce ACC levies that can help improve cashflow. Often, subtle changes with ACC such as customising shareholder cover levels or reviewing how ACC business codes are applied to applicable cover levels, can end up saving significant amounts on ACC costs.

We can arrange a complimentary review of your insurances to check whether they are appropriate in terms of cover requirements, and cost-effectiveness. As noted, we deal with specialists in all fields of business insurances, and we encourage you to consider this offer. Too often we are all guilty of renewing our policies each year with little thought, to our own detriment.