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Risk financing and insurance

Part of: Construction Finance All-of-Government

Specialist insurance management, advisory and broking services from an All-of-Government panel of risk financing and insurance intermediaries.

Key details


Current View dates



Lead agency

Ministry of Business, Innovation and Employment

What's covered

Insurance management, advisory and broking services:

  • Combined property damage/business interruption
  • Motor vehicle
  • Public liability
  • International travel
  • Minor contract works
  • Personal accident
  • Any other insurable risks
  • Uninsured risks
  • Management and advice of insured and insurable risks
  • Assistance in development of policies and procedures
  • Claims management
  • Broking and risk financing services
  • Insurance related training and education

What’s not covered

  • Insurance products (the contract applies to Intermediary Service providers only)
  • Employee benefits

How it works

The risk financing and insurance intermediary services contract is the first stage of a two-stage process. It establishes a master services agreement for a panel of insurance intermediaries.

Stage two involves clustering eligible agencies with similar risk profiles before approaching the panel in a series of closed Request for Proposals.

Participating agencies can opt to participate immediately through an individual services order (ISO) and/or wait to be included in a cluster through a group services order (GSO).

Features and benefits

  • Efficient buying by reducing the number of transaction points with intermediary and insurance markets.
  • Competitive tension in the industry.
  • Developing risk management maturity across government leading to more efficient and cost effective solutions in the future.
  • Access to market-leading commercial terms and conditions.
  • Access to market-leading risk management technologies.
  • Alignment with government's broader risk financing strategies.

When an agency is participating under an ISO:

  • Streamlined procurement processes and maturing risk management practices.
  • Additional services provided at reduced costs.

When an agency is participating under a GSO:

  • Reduced fees and insurance premiums.
  • Streamlined procurement processes and maturing risk management practices.
  • Leverage for better insurance policy terms and conditions.
  • Attraction of new insurer markets.
  • Reduced cost volatility.

Savings and costs


Agencies who participate in the contract don't need to go through a full procurement process of their own, which saves time, effort and cost. Hard savings are realised on a case by case basis, per cluster.


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.

The administration fee is applied in two ways for the risk financing and insurance intermediary services contract. It depends on whether an agency signs under an individual services order or a group services order.

Individual services order

A capped administration fee is applied based on the premium spend per annum.

Spend band (per annum) Admin fee
$0-9,999 No fee.
$10,000-65,999 1.5% (no cap)
$66,000-500,000 1.5% ($1,000 cap)
=/> $500,001 1.5% ($5,000 cap)

Group services order

The administration fee is structured to suit each cluster, but will not exceed 1.5% of spend.

Providers add this fee as an additional cost when they invoice agencies. They collect the administration fee and pass it on to Ministry of Business, Innovation and Employment Hīkina Whakatutuki (MBIE) - agencies don't need to make any payments to MBIE.

Dates and renewal details

Start date:
Current term end date:
Contract Terms:
Five years + two rights of renewal of two years
Renewals left: none

​​Roles and responsibilities

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

Roles and responsibilities