Policy Types
NZB Insurance is the market leader in providing quality bloodstock insurance products to protect your investment. If you are unsure about the policy type, or would like to enquire about a specific type of insurance, get in touch with our team to discuss.
Mortality
This is our standard insurance policy, insuring your horse in the event of its death or destruction on humane grounds as a result of accident, sickness or disease, and for limited theft. Our standard policy insures the horse anywhere in New Zealand and Australia. The policy does not cover pre-existing conditions. We recommend an annual policy.
Prospective Foal
This provides you with protection on your mare's unborn foal from as early as her positive 42 day pregnancy scan to 30 days after birth. The policy covers you in the event that the mare does not give birth to a live foal, is not in foal at the expiry of the insurance, or the foal in utero or born is not alive at the expiry of the insurance. Cover is subject to a current pregnancy certificate, including two negative twin scans.
Foal
Based on our standard mortality policy, you can insure your foal from 24 hours of age. There are optional extensions available such as colic or life saving surgery cover, and scoping cover for foals going to Yearling Sales. A current vet certificate is required for all foals under 30 days of age, and an IgG for all foals insured between 24 hours and 8 days of age.
Transit
Whether you are importing or exporting your horse, we can insure the transit risk for a fixed period before flight, usually to 30 days after the arrival at the final destination.
Stallion Infertility
This is an extension to our mortality policy and covers the stallion for the risk of becoming permanently infertile as a result of accident, sickness or disease. First Season or Congenital Infertility is also available for horses going to stud for their first season.
Stallion Loss of Income
A stallion's potential income can be insured for the breeding season. This is particularly useful where an Australasian stud is shuttling a stallion from the Northern Hemisphere. The same policy can also be placed for stallions permanently residing in the Southern Hemisphere.
Unsoundness of Wind
Unsoundness of Wind cover (commonly known as scoping cover) can be added to your insurance policy as extra protection if you intend to sell your foal, or re-sell a weanling, at Yearling Sales. This cover safeguards your investment if the horse does not meet the condition of sale due to its scope, either during the pre-sale veterinary scope or at the time of the sale.
Life Saving Surgery
Available as an extension to our mortality policy. This provides up to $10,000 cover in the event your horse requires surgery in order to save its life. There is a $1,000 excess on this extension.
Hong Kong and Malaysia
We offer transit to and cover in Hong Kong and Malaysia.
If you have more specific requirements, please contact one of the team at NZB Insurance as we can provide special policies to suit.
Note
Effective 1 October 2016 cross-border purchases by New Zealand residents of goods and services bought through offshore providers will be subject to GST. New Zealand Bloodstock Ltd is a registered Lloyd's Coverholder. We place all our insurance with Lloyd's of London, an offshore provider and therefore GST of 15% will apply to all insurance policies of New Zealand residents from 1 October 2016. In the event of a bona fide claim the settlement figure will be the sum insured GST inclusive.
If you are an Australian resident, you can only apply to purchase this insurance if your horse is not:
a) wholly or predominantly used for personal, domestic or household purposes by:
(i) you as the insured; or
(ii) your relatives; or
(iii) any person with whom you reside; and
b) ordinarily used for that purpose.
Member of the Fair Insurance Code
Lloyd's is a member of the Insurance Council of NZ and its New Zealand coverholders adhere to the Fair Insurance Code, which provides you with assurance that we have high standards of service to our customers. For further details please visit https://www.icnz.org.nz/fair-insurance-code/about-the-code/ which includes the complaints handling procedure.
NZB is a registered Financial Service Provider and is a member of the Finance Dispute Resolution Scheme (FDR).
NZB and its employees do not offer insurance advice as part of this insurance broker service and recommends that policy holders seek independent insurance and professional advice when purchasing insurance.
Should there be a complaint in relation to any financial service (including insurance broking) it should be addressed in the first instance to the Manager, Insurance on the form which can be provided upon request. NZB agrees to deal with such complaint within three months of receipt.
Should the complainant not be satisfied with the response there is a right of appeal to the FDR. However, NZB and its employees do not offer financial advice as part of this financial service and recommends that insured parties seek independent financial, taxation and professional advice.