TAKEOVER:
Covering expenses arising from a successful defence against an unwelcome bid to take over or acquire control of the insured company.
TAXATION AUDIT:
Covers professional fees charged by an accountant in connection with a Taxation Office audit, including costs in obtaining expert advice.
TECHNOLOGY NETWORK SECURITY PROTECTION:
Covers computer systems fraud, telecommunications fraud, computer virus, loss of data due to hacking, business interruption and extra expense.
TECHNOLOGY LIABILITY:
Covers technology errors or omissions, technology media liability and technology broadform public and products liability.
TERMS:
The conditions of a Contract of Insurance
THIRD PARTY STRIKES:
Covers business interruption loss attributable to the strike action of the employees of the Insured’s customers or suppliers of goods or services.
THIRD PARTY (UNDER A LIABILITY INSURANCE POLICY):
A person, not a party to the insurance contract, who has an alleged right of action for injury or damage, against the party insured under the policy.
TRAILERS:
Caravans and car or boat trailers can be covered by this type of policy.
TRANSITIONAL REQUIREMENTS:
A requirement under FSR that must be adhered to by those providing financial services after the commencement of the FSR and who have not as yet either obtained an AFS Licence nor been appointed as an authorised representative of an AFS licensee.
TRUSTEE LIABILITY:
Covers trustees and trust managers of superannuation funds. Covers fiduciary legal liability to compensate third parties (including legal costs incurred) arising out of the negligent administration of the trust or fund.