We treat every client uniquely, but there are some general questions and situations to help you see how easy and beneficial switching your ACC is ...

Who are BPB - Business Protection Brokers?

Business Protection Brokers started in 2006 specifically for the benefit of small to medium sized businesses to ensure they get guaranteed income protection both with ACC and private insurers.

We specialize with ACC Cover Plus Extra - an alternative to standard ACC cover.
We can show you how it compares with the standard cover you already have. Depending on on your situation, you may well find ACC Cover Plus Extra is a far better choice for managing the risks of being self - employed or a non PAYE shareholder employee.
(Refer Cover Plus Extra (CPX) Brochure Page page 1)

What’s Different?

The automatic cover for self employed is called ACC Cover Plus, however there is an optional cover which is called ACC Cover Plus Extra (CPX), which is what we specialise in providing. CPX gives you the flexibility to nominate an agreed level of cover ranging from, $18,720 to $82,337, which means you get what you pay for when it comes to claim.

In addition, with CPX no proof of income, or proof of loss, is required at time of claim, and unlike ACC Cover plus and work place cover (where the weekly payment is reduced if your business continues to generate income) ACC Cover Plus Extra payments remain fixed at the pre-agreed level.

(Refer CPX brochure (Last Paragraph) page 2)

Who's eligible?

All self employed and non- PAYE shareholder - employees who work 30 or more hours a week. If you are part time and your earnings are above the ACC Cover Plus Extra minimum* you are also eligible.
Companies
Partnerships
Contractors (withholding tax)
Sole traders

How does the New ACC Cover Plus Extra work?

You have the option to choose a level of cover suitable to you and your business, ranging from a minimum of $18,720 to a maximum of $82,337. ACC Cover Plus Extra is the smart alternative to the standard ACC cover.

(Refer CPX brochure page 3. Note comparison weekly entitlements / claims (first paragraph) page 2)

Does ACC CPX cover me on and off the job?

Yes, refer to Cover Plus Extra brochure page 6

If I own my own company and am a shareholder employee, can i qualify for CPX?

Yes, refer to above section 'Who's eligible?'.
(Refer to CPX brochure page 4 (last section) Who's eligible)

I am just starting out in my own business and have no income history. Can I still get ACC, and income cover, to protect my business should I have an
accident or an illness ?
Yes, you can (refer CPX brochure page 2)

Is my private income cover offset by ACC payments / ongoing business income?

ACC covers accidents only and does not pay for illness related problems.

Most personal income covers currently owned by self employed are offset by ACC payments and ongoing business income contact your insurer / Bank, and if the answer is 'yes' then call BPB for a free no obligation solution.

Why have I not been informed of the alternative cover with ACC?

All accountants have been informed of CPX and should have notified you of your choices, but it is quite time consuming, so the cost in organizing the application, and the range of cover available to you as an individual, would be prohibitive.
(Refer web site reference letter from Tax Consultant.)

Can I choose to receive lower levels of weekly compensation in return for lower levies?

Yes (Refer CPX brochure page 7 third bullet point)

Please note this is where business income cover is necessary to ring fence ACC CPX and private cover so both pay in the event of an accident.

We currently split our income. How does this affect my ACC cover?

Many self employed split income for tax reasons. This causes major difficulties with the standard ACC cover plus, but with CPX, there is a solution.
(Refer CPX brochure Page 2 your existing cover)

If lower levels of weekly compensation is chosen what are the approximate savings on the ACC levies?

While this can vary depending on chosen levels of CPX in dollar terms it can range from $1,000 to $3,000 per year (Builder) Other occupations will vary.

I am in a partnership, how does this affect my Cover?

Paul and Jo are in a partnership and they split income at 50 / 50
Paul is a plumber and earns $100,000 per year.
He splits his income with Jo at $50,000 each (for tax reasons)
Paul's classification for ACC is Plumber
Jo's classification for ACC can be Administration

Paul has an accident he qualifies for up to 80% of $50,000 = $40,000
Jo has an accident she earns $50,000 but cannot prove loss so she qualifies for nothing.

The Solution

BPB immediately applies to ACC and gets Jo on the minimum CPX at $18,720
Paul can choose between $60,000 to $20,000
If the lower levels of compensation are chosen the savings on the levies can be up to approximately 60%