Welcome to Riskpool

Riskpool is a mutual liability trust fund created by New Zealand local authorities to provide long-term, affordable professional indemnity and public liability protection soley for local government organisations. It is based on similar mutual funds established by local government bodies around the world as an alternative to conventional insurance products and the insurance industry's inconsistency in scope of cover, pricing, claims handling and capacity.

The Riskpool membership, which consists of 54 New Zealand local authorities, has the benefit of joining forces with the Australian local government community. As a collective (in excess of 650 local authorities) we have significant buying power and are able to secure competitive reinsurance rates.

Because New Zealand is not a litigious environment, utilising the buying power associated with the Australian personal injury exposure results in rates which are exceptionally competitive.

The aim of Riskpool is to provide a specialist service which responds to the very unique local government liability exposures. This is achieved by providing members with:

  • Appropriate coverage to meet public liability and public indemnity claims
  • Fund administration, risk management and claims management services
  • Information and impartial advice on local government liability exposures

Riskpool replaces conventional public liability and professional indemnity insurance products with local government's own mutual fund. Riskpool is able to provide members with the specialised cover they need unshackled by commercial constraints and is able to take a long-term view to claims handling and risk management.

What are the benefits of being in a mutual?
Since mutuals do not have any shareholders, Riskpool does not have to reward equity investors by paying dividends.
Riskpool is therefore able to:

  • Construct our products in a very competitive way
  • Act in the best interests of our members, including accepting claims and running test cases that commercial insurers may not so do
  • Provide broader cover and greater benefits to members than commercial counterparts

These, together with other characteristics foster long-term strategic planning and means Riskpool can be managed with more than short-term interests in mind, making Riskpool the best public liability and professional indemnity option for local government over the long-term.

Riskpool 2017 Annual Report now available
Read Here