Insurance brokering services

What’s covered

This contract provides an agency with access to a panel of providers who source insurance policies on the agency’s behalf from both national and international insurance markets.

Providers also provide tailored advice for managing a wide range of risks and related brokering services. The following areas of insurance brokering services are included.

Insurance brokering services

• Brokering and risk financing services
• Crisis management services 
• Risk management including risk assessment
• Assistance in development of policies and procedures
• Claims management
• Insurance related training and education
• Business continuity management 
• Environmental risk assessment and management 
• Expert incident investigation 
• General statutory compliance monitoring and reporting 
• Integrated risk management framework 
• Loss modelling services 
• Insurance valuation services 
• Managed funds and/or self-insurance 
• Third-party claims administration 
• Asset management services.

Brokering of policy types including:

• Crime insurance
• Directors and officers liability insurance 
• Employers’ liability insurance
• Fine arts insurance 
• Forest insurance 
• Marine hull insurance
• Marine transit insurance 
• Professional indemnity insurance
• Statutory fines and penalties liability insurance 
• Contract works insurance
• Material damage insurance 
• Business interruption insurance
• Public liability insurance
• Cyber insurance
• International travel insurance
• Motor vehicle insurance
• Personal accident insurance
• Parametric insurance 
• Any other insurable risks.

What’s not covered

The following are out-of-scope of the contract:

• Provision of insurance products (the contract applies to insurance broker providers only).
• Employee benefits insurance.

How it works

There are 7 providers on the panel. Each provider offers different services. You can use any provider on the panel who offers the services you need. Agencies may select specific providers to deliver services at their discretion.

Agencies can select providers on the basis of expertise, quality, capability, capacity, price and public value. They can also select providers on the basis of performance data during the contract term, or by an alternative secondary selection process which that agency considers appropriate.

Features and benefits

This contract offers:

• Access to a range of quality providers throughout New Zealand, with strong international insurer relationships.
• Pricing transparency on brokering services fees with provider hourly Rate Cards.
• Competitive rates and negotiated hourly brokering services rates, resulting in material savings compared to market rates.
• Continuous performance management and improved provider performance data, based on agency responses to regular provider performance surveys. This data will help inform agencies’ selection of providers when conducting secondary procurement processes.
• Access to market-leading commercial terms and conditions.
• Access to market-leading risk management technologies and innovative approaches to risk management.

Value-add services

Value-add services are offered free of charge by panel providers to participating agencies. Agencies may request a provider to supply some or all of the value-add services they offer.

Value-add services may include:

• dedicated risk management upskilling opportunities
• guidance documentations
• regular insurance market updates
• claims hotlines.

Savings

Agencies who participate in the insurance brokering services contract don't need to go through a full procurement process of their own, which saves time, effort and cost. It saves participating agencies an average of 17% on brokering fees.

Cost recovery

Most AoG contracts include an administration fee. This fee is a simple, effective and transparent way of recovering the cost of developing, sourcing, implementing and managing AoG contracts.

Rates in this contract include an administration fee of 1.5% of the insurance brokering services (which do not include insurance policy premium payments) invoiced by a provider (excluding GST and government levies).

Providers collect the administration fee and pass it on to MBIE. Agencies don't need to make any payments to MBIE.

Joining this contract

To purchase from this contract, your agency or school first needs to join.

If this is the first AoG contract your agency or school is joining, you’ll need to:

• check if you’re eligible to join
• sign a non-disclosure agreement
• create a RealMe login (to access the joining documents below).

Find more detail on these three steps at ‘Joining AoG contracts’.

Joining AoG contracts

Once you have completed this process, or if you’ve joined AoG contracts before, the next step is to read the Memorandum of Understanding (MoU) for the Insurance brokering services contract.

If your agency agrees to the terms of the MoU, sign and submit the online joining form or joining letter PDF. These documents are in the Joining documents section below. You need an agency login to access it.

Once we receive your joining form, we’ll be in touch to confirm that your agency or school is participating in the contract.

You can then purchase insurance brokering services using this contract.

Joining documents

Roles and responsibilities

Each participant has responsibilities they must meet as part of this contract.

Roles and responsibilities