What is Business Insurance?

Business Risk Management
Business risk management is a subset of risk management which evaluates, prioritises and addresses the risks involved in any changes to your business operations, systems and processes. It acts as a guide in decision-making and planning in the event of an emergency or an opportunity.

Why is it needed?

Business risk management also enables an integrated response to multiple risks and facilitates informed, risk-based decision-making capabilities.

What is Professional Indemity Insurance?

Professional indemnity insurance protects you against claims for loss or damage made by clients or third parties as a result of the impact of negligent services you provided or negligent advice you offered. Compensation claims can be brought against you even if you provided a service or offered advice for free.

What is Public Liability Insurance?

Public Liability Insurance offers cover for third party liabilities (Bodily Injury / Property Damage) arising out of the premises and operations of the Insured and legal costs incurred in connection therewith.

For IT Contractors

What is an IT Contractor? ​IT contracting is where an IT specialist works as their own individual company for a client organisation in a business-to-business agreement. These specialists are contracted on a fixed-term basis, usually to work on individual projects, as opposed to traditional permanent staff who are employed on an ongoing basis.

What types of Business Risk are there?

More specifically, the following examples should be considered in your business risk management assessment:

• Hazard risks: anything in the workplace with the potential to harm people, which is not under the control of the business environment. This includes such items as hazardous materials or fallout from machinery. 
• Physical and environmental risks: fires or explosions; anything that can damage your premises, including natural disasters such as area fires, storm damage, floods, hurricanes or tornados, earthquakes, etc. Some of these can be considered climate-related.
• Human risks: personnel-related issues that can affect your company’s operation, such as alcohol and drug abuse, embezzlement or business fraud.
• Technology and operational risks: anything that compromises your company’s operations, such as a power outage, cyberfraud, system failures, etc. 
• Strategic risks: failure to respond to changes in the business environment, often the result of poor or wrong business plans and losing the competitive edge in your sector (think Blockbuster video vs Netflix).
• Financial risks: risks taken with financial assets, including risks in pricing, currency exchange or liquidation of an asset. Customers and partners can also present financial risks in business, such as a credit risk  for example if you sell on credit terms. Business risk management can indicate how much risk your company can handle in financial relationships, including the risk of payment defaults.

Creating effective business risk management involves your entire company and is implemented through enterprise risk management.

How are Consultants different from Contractors?

ConsultantA consultant is generally referred to as an ‘experienced professional’ and will provide expert knowledge in return for a fee. They tend to work in an advisory capacity only and are usually not accountable for the outcome of a consulting exercise. Some consultants have introduced dramatic shifts in management thinking and improvements in the performance of organisations.
ContractorA contractor is also an experienced professional, but one who provides a specialist service in return for a fee. Unlike a consultant, in most cases, a contractor will carry out the work. In some instances, they may also advise on what the work should be.
Contractors are used by organisations that wish to acquire a given skill set for a period of time but do not wish to employ somebody on a permanent basis. As such, a contract is for a set period only, which can be amended if both parties agree.

Who have we collaborated with?

i2i Brokers

​i2i is an ambitious, dynamic and highly competitive provider of a range of Professional and Specialist insurances. Since 2010 they have implemented a number of successful liability schemes backed by the strongest Insurers both here in New Zealand and on the Global Market. 
Through i2i RBSA have accessed a portal (Agile) where alumni can get quotes for Professional Indemnity and Public Liability Insurance. 
Need more help: Email: hello@i2ibrokers.co.nz with your information request and refrence Rebel Business School Aotearoa as part of your email.

Is there a fee?

Yes. Much as we want it all for free there are broker and referral fees.

• Firstly, for every insurance the management of a broke led programme will be managed by the broker, in this case i2i Insurance Brokers.
• Any business insurance organised through the i2i Insurance BBrokers and referred by Rebel Business School Aotearoa will inact a $25 fee that will go towards the management and running of the Rebel Business School Aotearoa Alumni programme.

These charges are identified within the quote / proposal accessed through the i2i Insurance Portal.

Disclaimer

Rebel Business School Aotearoa Ltd is not an insurance broker. In providing this access business insurance we confirm that we are not recommending the type or level of insurance required for any alumni business utilising the i2i portal. The end decision and any research made, relative to an Alumni's business, is the responsibility of the alumni business owner to satisfy themsealves that their insurance requirements will be met. If more  information is required, please use the contact details on the i2i website.