Club Insurance For Martial Arts Schools
MARTIAL ARTS CLUB INSURANCE CAN HELP PEOPLE PROTECT THEIR BUSINESSES WITH:
PUBLIC, PRODUCTS, CIVIL & MANAGEMENT LIABILITY / PROFESSIONAL INDEMINITY - PROPERTY / CONTENTS - BUSINESS & CYBER COVER
The above are insurances that you may require if running a martial arts school / club.
Martial Arts Club Insurance is made up of a number of products that can be purchased individually or bundled together depending on your currents needs and circumstances. These variations are impacted by whether you teach from home, hire a local community hall or lease / own a fulltime facility.
Getting the best insurance prices and the right policy wording can be difficult because there are a number of providers in Australia that have very similar products that all look the same on the surface – just like banks and home loans.
If you would like more information on insurance and other products accessible through our membership at specially discounted rates, simply fill out the form - GENERAL FORM
All school owners need specialty sports insurance and it doesn’t matter what style of martial arts they teach (including but not limited to Mixed Martial Arts MMA, Kickboxing, Ju Jutsu, Karate, Iaido, Kempo, Kung Fu, Taekwondo, Brazilian Jiu Jitsu, Wrestling, Sambo, Ninjutsu, Muay Thai, Boxing, Tai Chi, Wushu, Wing Chun, Systema, Krav Maga, Silat, Kali, Eskrima, Arnis, Vovinam, Judo, Aikido) as professional and responsible operators.
Below are a list of insurances that Clubs / Associations / Promoters take out if they are appropriate for their needs.
- Professional Indemnity – PI (2-5 million) – 5mil most preferred
- Public & Products Liability – PL (2, 5, 10 or 20 million) – 10mil most preferred
- Personal Accident / Player Accident – PA – optional and preferred by 40% of instructors
- Income Protection – IP – optional and preferred by 40% of instructors
- Property – building – optional and used by instructors who lease or own their own building
- Property – contents (fire and theft) – optional to protect equipment (nominate value $10k-$100k+)
- Business Interruption – optional and flexible based upon your operation
Martial Arts Insurance can protect all parties including the operator / chief instructor, other instructors, admin / sales staff and of course the students / members in the unfortunately event that an accident occurs. We have just about seen it all from simple accidents to the bazzar / crazy demonstrations and fight shows. We would rather teach you how you can reduce a claim by training you in the best risk management, remember injured students don't pay fees.
The problem instructors are often faced with is not knowing how to research insurance, or how to interpret the policy wording so they know what they are buying. FOR MORE INFO ON ALL OUR SERVICES CLICK HERE
GET THE REAL INSIDE STORY ON MARTIAL ARTS INSURANCE - AVOID THE PITFALLS
Operating without appropriate insurance can have the following consequences: -
# You will find it hard to hire a venue
# Students will assume you are not a professional operation and not join
# As waiver form rarely negates a compensation claim being challenged in court
# An injured student can sue you for compensation and you will have to fund your own legal defence
# A successful compensation claim can greatly diminish the assets of those being sued -
With the wrong insurance
# As above maybe applicable
# It may cover a claim coming from a specific area, but not cover all the activities of the club
# An Insurer may have the right to refuse a claim or only pay a proportion of a payout or legal costs
Examples of the wrong insurance:
# Just having public liability (PL) without professional indemnity (PI) The PI is where most claim arise from
# Having public liability (PL) and professional indemnity (PI) without the term ‘participation’ included
There often grey areas in the coverage and ‘participation’ means sparring is actually covered
# Not including player accident with the (PL & PI) PL & PI is an additional cover that can be accessed without successfully suing the club
# Including property cover with a business pack when only leasing the building Some operators have paid enormous insurance premiums covering the property when it is not necessary
# Not including the correct (PL & PI) when only taking a business pack on its own By not understanding how the combined business packs work, operators can easily select the wrong product
What could happen if insurance application form is not correctly filled out?
Some minor discrepancies will be accepted and if challenged can be explained to the broker without any issues. If a person has deliberately under disclosed various items, this could have an impact on whether a claim is paid, or the amount reduced. They would be deemed underinsured.
What does Underinsured mean? This term refers to an insured person either not being honest or not understanding the appropriate disclosure required by the Insurer when filling out an application form. Either way the insured may find a claim reduced or not covered at all. Premiums are calculated on the risk / exposure attributed to a particular business activity. If a person downgrades the true value of an item, it could be deemed underinsured or the amount paid out, reduced.
Examples of being under insured:
# Submitting the number of students in a class rather than the whole number of members / students in the club
# Submitting a lower number of students in your club than you actually have Example 1 – Club states it has 200 members when they have 400 to reduce the insurance premium. After a claim was investigated it was identified that club actually had twice the number of members insured. The Insurer may choice to reduce the claim by 50% leaving the operator to pay the balance themselves.
What can School Owners do to make sure they have the right insurance and have the appropriate qualifications / policies / procedures in place?
# Seek an insurance broker that is an expert in both insurance and martial arts
# Seek advise from credible peak industry bodies
Preventing incidents in your school is much better than defending a claim from an injured student. Injured students don’t pay fees and can have a negative impact on your club. Pre-emptive precautions are better than re-acting to an incident.
FOR MORE INFO ON ALL OUR SERVICES CLICK HERE