DHBs’ assets need to be insured against a range of risks, including fire and natural disasters. The actual amount of cover obtained is calculated annually based on risk assessments of several loss scenarios in the event of earthquake and fire events.
On behalf of DHBs, NZ Health Partnerships seeks to negotiate the best insurance deal available to them on a collective basis. Sector required insurance cover includes material damage business interruption (property), liability, motor vehicle, and travel and personal accident.
Working together means the sector can offer insurers a portfolio that is geographically spread with a high level of risk identification and management processes in place.
Substantial cover is gained as a result from a comparatively lower premium, compared to if each DHB were to insure on an individual basis.
NZ Health Partnerships provides this service for all 20 DHBs and a number of other entities.