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Terms of Sale

These Terms of Sale apply to the purchase of any policy (“Policy”) via this website (“Website”). By purchasing any Policy on the Website you confirm that you have read, understood and agree to be bound by these Terms of Sale. 

The Underwriter

Cover under each OrbitProtect plan is underwritten by Zurich Australian Insurance Limited (ZAIL), trading as Zurich New Zealand Policy Wording

The Policy wording applies to each person, and it is your responsibility to read and to be familiar with it.  The wording can be found on this Website, and it is also available at www.OrbitProtect.com.

Policy Cancellation

Most of our Policy wordings include Policy cancellation options. The process of cancellation and premium refund (if any) is detailed in each document. The wording can be found on this Website, and it is also available at www.OrbitProtect.com.

Privacy

You understand that any information we collect is to:

  1. evaluate your insurance requirements including establishing what cover, if any is to be offered and its terms and premium level and other matters connected with a policy
  2. To contact each person from time to time with information about products and services that OrbitProtect Ltd reasonably believes may be of interest.

All information collected will be held by OrbitProtect Ltd  P.O. Box 2011 Christchurch 8041, New Zealand.  Individuals have the right under the Privacy Act 1993 to request access to and correction of their personal information.  

Declaration 

You declare that:

  1. you are authorised by each person named as an insured person, if applicable, to complete the application process for the Policy on their behalf;
  2. you are authorised by the credit cardholder to charge the credit card if this is the method of payment used to pay for the Policy;
  3. all information that you have given is complete, true and accurate and you understand that if any information is not complete, true or accurate  Zurich New Zealand may cancel your Policy and refuse any claim(s) that you make.

General 

We may change these Terms of Sale at any time without notice, and any revised Terms of Sale located on the Website will apply to your purchase of any Policy via the Website. If you have any questions, concerns or complaints about these Terms of Sale please contact OrbitProtect via contact us. 

In New Zealand, Zurich’s general insurance products are underwritten by Zurich Australian Insurance Limited (ZAIL), trading as Zurich New Zealand. ZAIL has an insurer financial strength rating of A+ from Standard & Poor’s (Australia) Pty Ltd. This rating shows that the company has strong financial security characteristics. An overseas policyholder preference applies.

Under Australian law, if ZAIL is wound up, its assets in Australia must be applied to its Australian liabilities before they can be applied to overseas liabilities. To this extent, New Zealand policyholders may not be able to rely on ZAIL’s Australian assets to satisfy New Zealand liabilities. For more information: https://www.zurich.co.nz/about-us/financial-strength.html

The rating scale is:

AAA Extremely Strong

AA Very Strong

A Strong

BBB Good

BB Marginal

B Weak

CCC Very Weak

CC Extremely Weak

SD Selective Default

D Default

R Regulatory Supervision

NR Not Rated

The ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. The rating scale above is in summary form. A full description of this rating scale can be obtained from www.standardandpoors.com.

 

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