The HTL Group - Blog #Business Insurance

Top trends in employee benefits for 2025

Thu, 24 Jul 2025 14:44:30 +1200

Smart strategies to support your people and strengthen your business

In today’s competitive job market, offering a salary alone isn’t always enough. Businesses looking to attract and retain great staff are turning to employee benefits that go beyond the basics, and the good news is, they’re more accessible than ever.

Here at The HTL Group, we work with business owners and HR teams across Aotearoa to tailor affordable benefit packages that make a real difference to employees and to business outcomes. Here are five key trends we’re seeing in 2025:

1. Affordable life and trauma cover for employees

One of the simplest and most powerful ways to support your team is to offer group life and trauma insurance. These policies are far more cost-effective than most businesses realise and they show your staff (and their families) that their wellbeing matters.

We’ve seen first-hand how implementing these kinds of benefits can improve staff loyalty, reduce turnover, and build a stronger sense of care within the workplace.

2. Employee retention through values-led benefits

Beyond pay and perks, employees are drawn to workplaces that align with their values. A tailored benefits package is an excellent way for businesses to walk the talk, showing they’re committed to looking after their people, not just productivity.

From income protection plans to voluntary health schemes, you can design a package that meets the real needs of your team, without overcommitting the business.

3. Navigating KiwiSaver changes with confidence

Recent KiwiSaver changes will impact how employers approach superannuation:

As of 1 July 2025, government contributions have been halved, and some high-income earners are no longer eligible.
From 1 April 2026, both employer and employee default contributions will increase to 3.5% – and again to 4% in 2028.
16 and 17-year-olds will soon qualify for employer contributions.

The HTL Group can help you understand what this means for your business and explore more flexible options to support your staff’s financial future. We take the time to get it right, so you’re compliant, informed, and making the best use of your benefits budget.

4. Mid-year is the smart time to review

With the financial year-end behind you and summer still a way off, now is an ideal time to review your employee benefit offering. You’re not under pressure, and you have time to make smart, considered changes that set your business up for the year ahead.

We don’t believe in rushed decisions, that’s why we encourage our clients to use this mid-year window to take stock and explore what’s possible.

5. One partner for all your business insurance needs

As a true insurance brokerage, The HTL Group goes to the full market on your behalf, meaning you get quality, affordable, fit-for-purpose cover for your business, not just what one provider is selling.

We also support your team beyond the workplace, with access to personal insurance options (all listed here: https://www.thehtlgroup.co.nz/insurance) all backed by trusted local advisers.

Ready to take the next step?

Whether you’re looking to retain great people, respond to upcoming KiwiSaver changes, or simply want better business cover, The HTL Group is here to help.

Let’s meet! One of our advisers will guide you through your options and do all the work to find the right solution for your business.

Contact us today to organise a personal meeting with an HTL adviser.

Is your business at risk? why Cyber Insurance is essential in 2025

Thu, 20 Mar 2025 14:59:30 +1300

Cyber threats are no longer a distant risk - they are happening right now, affecting businesses of all sizes. Whether you run a small business, a professional services firm, or a large enterprise, cybercriminals are becoming more sophisticated, and the financial impact of an attack is growing.

In New Zealand, law firms and other professional organisations who hold client data are experiencing cyber threats every other day, highlighting the urgent need for businesses to strengthen their digital defenses. Without proper protection, a single cyber incident could lead to crippling financial losses, reputational damage, and even legal action.

The cyber threat landscape: what’s changing?

Recent data from the Verizon 2024 Data Breach Investigations Report paints a stark picture:

68% of all breaches involve human error such as clicking on a link which contains a cyber threat, stolen credentials, or social engineering. Hackers manipulate employees through phishing emails and fake communications to gain access to systems.
Ransomware and extortion attacks account for 32% of breaches. Attackers encrypt business data and demand payment to unlock it.
The financial impact of a cyber breach is at an all-time high. The average global cost of a data breach is now $4.45 million - a 15% increase over the past three years. In NZ, the average cyber claim cost is now well over $100,000.
Hackers are moving faster than ever. Once inside a system, they can compromise an entire network in as little as 48 minutes - or even just 51 seconds in the fastest recorded case.
Many cyber-criminal organisations have moved to different countries where ransom payments are not prohibited due to sanctions - since Covid, this has surpassed drugs as their main money earner.

No business is immune, and cybercriminals are constantly refining their tactics to exploit vulnerabilities. Sole traders and SMEs are commonly victimised because the necessary protection is often not in place.

What is Cyber Liability Insurance, and why do you need it?

Cyber Liability Insurance protects businesses against financial and operational losses caused by cyberattacks. It covers:

Data breach response – forensic investigations, customer notifications, and credit monitoring.
Legal expenses – regulatory fines, lawsuits, and compliance costs.
Business interruption – lost income due to cyber incidents disrupting operations.
Cyber extortion (ransomware protection) – costs of responding to ransom demands and working with cybersecurity specialists.
Ongoing monitoring after a cyber event to ensure none of the stolen customer data ends up on the dark web.

Who needs Cyber Insurance?

If your business uses digital systems or stores customer data, cyber insurance is essential. This includes:

Small and medium-sized businesses (SMEs) who are often targeted due to weaker security.
Professional service firms (lawyers, accountants, medical practices, consultants) managing confidential client data.
E-commerce businesses handling online payments.
Healthcare providers storing sensitive patient records.
Any business that relies on digital infrastructure such as cloud storage or online software programmes for daily operations.

Why Cyber Insurance is more important than ever

AI-driven cyberattacks are increasing. Hackers are using AI-generated deepfakes, AI phishing, and AI vishing (voice phishing) to manipulate employees.
Ransomware is evolving. Cybercriminals are constantly developing new, more aggressive attack methods.
Supply chain vulnerabilities are a growing concern. Many businesses are compromised through weaknesses in third-party suppliers or software.
Cybersecurity requirements are becoming stricter. Insurers and regulators expect businesses to have strong cybersecurity measures in place before offering coverage.

The cost of not taking action

Many businesses assume that cyber risks are covered under standard insurance policies, but this is often not the case. Without cyber insurance, a single attack could leave a company facing:

Massive financial losses – legal fees, forensic investigations, and operational downtime can quickly add up.
Reputational damage – a data breach can erode customer trust overnight.
Legal and regulatory consequences – non-compliance with data protection laws can lead to severe penalties. We are starting to see Director & Officer claims for businesses who have not implemented adequate IT services and protection

Protect your business today

Cyber threats are no longer a question of “if” but “when.” Businesses of all sizes need to take proactive steps to protect their data, customers, and bottom line.

At The HTL Group, we specialise in helping businesses secure the right Cyber Liability Insurance to safeguard their operations, reputation, and financial health.

Get in touch with HTL Group today to find out how we can help protect your business from cyber threats before it’s too late.

5 Reasons Every New Business Needs Comprehensive Insurance in 2025

Thu, 27 Feb 2025 15:07:00 +1300

Starting a new business is exciting, but it also comes with risks. When something goes wrong, it can be overwhelming to figure out what steps to take, especially when you're navigating it alone. Whether it’s a legal dispute, property damage, or an unexpected business interruption, the right insurance can make all the difference. But with so many different types of policies available, how do you know what your business truly needs?

At The HTL Group, we’re here to make sure you have the right coverage, explain your options clearly, and support you when you need it most. Here are five reasons why comprehensive insurance is essential for every new business in 2025.

1. Safeguard against financial loss

An unexpected event, whether it’s an accident, theft, or natural disaster, can quickly derail your business. If you have business assets under finance, do you know your insurance obligations? What happens if your income stops but you still have staff wages to pay? Having the right cover ensures that financial setbacks don’t put your business at risk.

2. Protect your business from liability risks

Even the most careful businesses can face liability claims. From damaging a customer’s property to an error in professional advice, liability risks are everywhere. Do you need public liability, professional indemnity, or a combination of both? Understanding your liability exposure, and having the right cover, ensures that legal fees, reparations, and settlements don’t fall squarely on your shoulders.

3. Cybersecurity threats are on the rise

New businesses are increasingly becoming targets for cyber threats. Viruses, malware, and data breaches can not only compromise your own systems but also expose sensitive client information, potentially leading to Privacy Act violations. With cybercrime becoming more sophisticated, cyber insurance helps cover the financial impact of a data breach and assists in getting your systems back up and running.

4. Ensure business continuity and peace of mind

Could your business survive if your work van was in an accident and took six weeks to repair? What about if your plant, tools, or equipment were damaged beyond repair - are they covered for full replacement? Comprehensive cover including business interruption ensures that if an insured event disrupts your operations, you have the financial support to keep things moving.

5. It’s more affordable than you think

Insurance premiums have been on the rise, and this trend is unlikely to change. However, there are ways to manage costs and limit the impact on your cash flow. By structuring a policy that suits your business activities and risk level, you can secure comprehensive protection without unnecessary expense.

Why Choose HTL Group?

Understanding insurance isn’t your job - it’s ours. We’re here to:

Explain the difference between policies so you can make informed decisions.
Assess your specific needs and ensure you carry the correct endorsements and extensions
Support you in developing a business continuity plan that integrates with your insurance.
Advocate on your behalf when lodging a claim, liaising with insurers, assessors and legal teams.

Your business is your livelihood - make sure it’s protected. If you’re unsure whether your current insurance meets your needs, get in touch with HTL Group today for expert guidance and a tailored insurance solution.