There are three main areas of Liability Risks to a Sports or Leisure Club. These are General (Public/Products Liability, Professional Indemnity and Management Liability.
These are briefly described as follows:
General Liability – is Bodily Injury, Property Damage and Advertising Injury caused to others arising out of the activities of the organisation. Apart from a limit of indemnity (which we recommend at least $20,000,000 cover) which can be purchased from $5,000,000 it also includes:
Professional Indemnity – is for a breach of Professional Duty such as making an error or omission which causes a financial loss to another person. It can arise from activities such as Coaching, Supervision of children, failure of systems such as Keno, TAB and Lotto and so on. Look for features such as:
Management Liability – While it is understood the importance of a liability policy and player accident cover, but often overlook the professional risks of running a club, association or business. Management Liability coverage is an easy and affordable extension that includes Directors & Officers, Club or Entity Liability, Employment Practices Liability, Club or Entity Reimbursement. Features of this cover includes:
• Advanced Defence Costs
• Inquiry Costs
• Fines & Penalties
• Loss of Documents
• Intellectual Property
• Automatic Reinstatement
• Continuous Cover
• Subsidiary Run Off Cover
• Joint Venture Cover
• Libel and Slander • New Subsidiaries
• NFP Outside Directorships
• Occupational Health & Safety
• Spousal Cover
• Trade Practices Act
• Extended Reporting Period
• Retirement Cover
• Fidelity Cover (Optional)
• Pollution Defence Costs (Optional)
Who can help?
An insurance broker’s role is to act as your representative and work in your interests, seeking the best cover at the best price for you from market knowledge. Call a good one.
Call CPR – Experts who will save you.