5 Insurances your Club should consider
By Matt Bradford, Mullins Lawyers (07) 3224 0353
For many bowls clubs, the recent floods were a devastating twist in an already challenging few years. Sports clubs are often at high risk of flooding as they are located near parks and reserves and it is critical for these clubs to ensure they have appropriate insurance cover.
There are a variety of insurances clubs can take out and it is important to discuss these with your insurance broker (if you have one) to ensure you have appropriate coverage. Most clubs would have experienced significant ‘bill shock’ in the last few years as insurance premiums have risen significantly, and some clubs may be struggling to get cover for certain risks such as flooding. This is where an experienced insurance broker can be worth their weight in gold.
We recommend clubs review and consider the following five insurance policies with their brokers.
- Building and contents: This insurance will cover your buildings and your contents from damage and theft – including your bowls greens. Your obligations for insurance of the building will depend on whether your club owns the land and buildings or leases them, but either way, you need to ensure there is adequate coverage in place for both the building and contents. As mentioned above, some insurers may have exclusions for flooding or sub-limits in the policy for certain risks. If this is the case, clubs should ensure they have appropriate plans in place to mitigate loss from these risks.
- Public liability: Clubs are usually aware of the need to have public liability insurance. This policy protects the club if it has to pay compensation for property damage or personal injury. A comprehensive policy will also cover claims relating to club members and volunteers.
- Professional indemnity: Professional indemnity insurance is adopted by many clubs to cover against claims of negligence relating to the actions and advice of coaches and other club employees.
- Directors and officers: Almost all committee members of bowls clubs are volunteers who provide their time and expertise for the love of the sport, as opposed to financial or personal gain. Given the charitable nature of these roles, it is important the club has appropriate directors and officers cover to protect these individuals should they breach their duties in their role and be held personally liable. Clubs should ensure committee members have a thorough understanding of the extent of this cover, including the exclusions.
- Business interruption: Business interruption insurance can cover the loss of profits for a club when it suffers an interruption event, such as flooding or fire damage. This will help a club cover its operating costs for a period, such as rent and wages, whilst it is unable to earn any income.
There are a variety of other insurances available, including glass insurance, machinery breakdown, prize indemnity, members insurance, player accident insurance, cyber risk, and plenty more. All clubs in Queensland will have workers compensation insurance for their employees through Workcover Queensland, protecting against claims by employees who are injured during their course of employment.
This year, rather than simply renewing your existing policies, we recommend meeting with an experienced insurance broker, ideally one who is familiar with bowls clubs, and tailoring your policies. An industry expert will be able to analyse your individual insurance requirements and ultimately, ensure your risk of a claim is reduced.
If you if you have any queries about insurance claims or your individual risk or would like an introduction to a trusted clubs industry insurance broker please contact me, Matt Bradford at (07) 3224 0353.