Our Statutory Liability Policy covers fines that we are legally permitted to insure against.
A fine is defined as “Any monetary penalty or other monetary fine or costs and disbursements assessed that may be payable by you as a result of a conviction for an offence under an Act arising out of an occurrence.”
However, the policy also says that a fine does not include “any other monetary payment, penalty or fine deemed to be unlawful to insure against.”
The law changed on 21 August 2025, and from that date it became unlawful for insurers to cover fines or penalties under the Resource Management Act (RMA). The policy wording is the same, but because the law has changed, the coverage has changed.
This is only a summary of changes to the law that effect the policy. If you have any questions or need help understanding what this means for you, you can read more here or please don’t hesitate to get in touch. For full details, exclusions and limitations, please read your policy document.