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					   Don Shields
District Insurance Officer
           9780
          May 2010
     INSURANCE HISTORY
• Four merchants in a tavern in London

• Ships en-route from Caribbean & if their ship
  failed to arrive they would be bankrupt

• Merchants decided to share the risk, and
  contribute equally to merchant that lost ship

• Marine Insurance is ‘born’ – the oldest branch
  (then followed Fire & General, and then Life).
                  TODAY
• Actuaries use statistical information such
  as mortality tables to calculate:

  -   the likelihood of an event occurring
  -   the possible cost of an event
  -   the total amount needed
  -   the amount each person covered by
      the insurance needs to pay – the
      ‘premium’
              PROBLEM
• There are over 35,000 Rotarians in our
  region undertaking a diverse range of
  activities
• How does an actuary calculate the
  premium to cover all Rotarians and
  volunteers for:
      - Property
      - Liability
      - Personal injury & Travel
      - Officers Liability
- Answer – claims rated/burning cost
HOW TO HELP KEEP PREMIUMS LOW
• Reducing the likelihood of an event
  happening that could lead to a claim

• Achieved by undertaking a risk analysis
  for every event your club undertakes no
  matter the size

• Ongoing projects/events require regularly
  reviews of Risk Analysis,

• Informing participants & have Risk
  Assessment at the activity for reference
     WHAT IS RISK ASSESSMENT
• In very simple terms a risk assessment…

      - Identifies a risk that may lead to a claim
      - Sets out steps to take to reduce that risk
      - Informs participants of the identified risks
        and the steps put in place to reduce the
        risk

 It also indicates if the level of risk is acceptable to
              the club conducting the event
          WHY CONDUCT RISK
            ASSESSMENT
   Risk Assessment is not just for Insurance,
    consider:
    • Public Relations - Image and reputation of
      your club and Rotary should something go
      wrong;
    • Membership (existing and new prospects)
    • Financial (not just claim excess but bad PR
      may effect clubs ability to raise funds)
    COVER PROVIDED 2009/10
• Who is covered?
- All Rotary Districts, Clubs (including
  Rotaract & Interact), Committees & Sub-
  Committees, Rotarians & their families,
  Volunteers and participants taking part in
  a Rotary event

Note: Why not publish a copy of Insurance
 Summary on your Club Website to inform
 members – its not a secret!!!
     COVER PROVIDED 2009/10
• Property
  - owned by the club or when the club is
     responsible for the property
  - Covered anywhere in our region
  - Cover/Limits:
      - Static Risks $50,000
      - Transit $50,000 except Art $25,000
      - Theft in open air $25,000
      - Money $50,000
      - Personal Effects $5,000 person &
        $50,000 total
       COVER PROVIDED 2009/10

   Property continued
     • Cover/Limits (continued):
         Art Shows $100,000 item $500,000
          total
         Machinery Breakdown $5,000

         Spoilage of Stock $5,000

         Contract Works $250,000

         Property outside Australia $20,000

     • Excess: $500 Personal Effects; $1,500
       other losses (except Earthquake etc)
         COVER PROVIDED 2009/10

   Property Exclusions
    •   Locomotives/Watercraft/Aircraft
    •   Registered Vehicles
    •   Animals/Birds/Fish
    •   Standing timber/Crops/Pastures
    •   Bridges/Roads/Dams/Tunnels/Docks/Wharves
    •   Property underground
    •   War/Terrorism/Radioactivity/Nuclear
    •   Fraud/Dishonest acts
    •   Settling/Erosion/Subsidence
       COVER PROVIDED 2009/10
• Legal Liability (Public & Products Liability) covers
  injury and property damage arising our of official
  Rotary activities where negligence
  involved/alleged
• Legal costs and expenses
• Limits of liability
   • $50M any occurrence (and in aggregate for
      Products Liability)
   • $2 Million Molestation any claim & in agg.
   • $150,000 Statutory Liability ( “ “ “ “ “ “ ).
   • $100,000 Goods in Care Custody or Control
• Includes Vicarious Liability for Markets
        COVER PROVIDED 2009/10
• Public Liability Cont’d
Excludes
     - Railways (other than model trains for
        amusement rides),
     - Rodeos & all animal rides,
     - Regular childcare services,
     - Martial arts or firearm activities,
     - Building or demolishing over $250K
     - Participation in sports, trials, races etc
     - Pharmaceuticals
    COVER PROVIDED 2009/10
   Public Liability Cont’d
Excesses..
    • $1,000 any occurrence (cost inclusive)
    • NIL for individual members
    • $25,000 any claim and $125,000 aggregate
      any perpetrator for molestation


   Molestation Retroactive date 30 August
    2005
      COVER PROVIDED 2009/10
• Personal Accident and Travel
  Covers:
  -   Lump Sum on Death and disablement
  -   Weekly Income replacement.
  -   Emergency Home Help $150 per week
  -   Non-Medicare Medical $3,000
  -   Kidnap & Ransom $250,000
  -   Loss of Deposit $10,000
  -   Baggage $7,000 ($1,500 any item)
  -   Money & Travel documents $2,000
  -   Electronic Equipment $7,000
  -   Medical & Additional Expenses – unlimited
  -   Political Evacuation $10,000
  -   Personal Liability $20 Million
  COVER PROVIDED 2009/10
Personal Accident and Travel (continued)
Limitations:
  •   Travel cover journey must be over 50km
  •   Journey limited to 90 days including up to 60
      days private travel
  •   Benefit amount depends on age (inclusive):
         Death & Lump Sum up to age 90
         Income up to age 79
  •   Nil excess except 7 days for income
      replacement and $250 Electronic Equipment
  COVER PROVIDED 2009/10
Personal Accident and Travel (continued)
Exclusions:
   •   war, self-injury, childbirth, HIV/AIDS
   •   Flying in privately owned & operated aircraft
   •   Professional sports of any kind
   •   Hernia howsoever caused
   •   Person over the age of 95
Pre- existing conditions exclusion has been deleted
    but approval from usual doctor must be
    obtained advising fit to travel
Wording/PDS/FSG download www.rotanet.com.au
       COVER PROVIDED 2009/10
• Association Liability $2 Million – includes
   •   Directors & Office Bearers Liability,
   •   Association Entity & Reimbursement,
   •   Professional Indemnity,
   •   Fidelity Guarantee (limit $10,000),
   •   Employment Practices, and
   •   Taxation Investigation (limit $10,000).
In simple terms covers District for liability
  incurred for such things as libel or
  slander, wrongdoings by office bearers,
  theft of funds etc
    COVER PROVIDED 2009/10
   Association Liability (continued)
Extensions
Loss of Documents, External Directorships, Joint
  Venture, OH&S, Breach of Copyright, Spousal
  Liability, Fines & Penalties ($100,000),
Exclusions
Medical, Financial or Legal Services, Contractual
  Liability, Guarantees & Warranties, Pollution
Excesses
Fidelity $5,000, Taxation Investigation $2,000,
Insured vs Insured $1,000, NIL all other claims
Note: Claims Made policy
  COVER PROVIDED 2009/10
Caravan/Trailer Insurance (optional)

Covers trailers & caravans as declared
  • Cover: Trailers $5,000/Caravan $10,000
  • Third Party Property Damage $10 Million
  • Supplementary Bodily Injury $5 Million


Excesses: $500 except whilst hired out $1,000
    WHAT YOU & YOUR CLUB
       MEMBERS MUST
1. Risk Management – every activity
2. Advise DIO as soon as possible of all
  potential claims
3. Respond to DIO’s requests for info
4. Read the Insurance Summary on the
  District 9780 Website, then and only then
  contact the DIO
5.If you have any questions, put them to
  the DIO in writing (prefer email)
          What the DIO does
   Answer questions about the policy
    and refers matter if necessary to
    Rotary’s Broker
   Supply of Certificates of Currency &
    Claim forms (which are also on
    District Website)
   Forwards claim to Rotary’s Broker
   Renewal forms (based on number of
    Rotarians & value of assets of clubs)
     What the DIO does not do
1.   Provide financial advice
2.   Represent the Broker or the
     Insurers (but the District)
3.   Want to hear about every activity
     your club does – only where you
     have read insurance summary and
     are uncertain or have questions
4.   Check or complete your Risk
     Management
    Cost per Rotarian 2009/10
Public Liability $8.68 (08/09 $8.36)
Personal Accident/Travel $4.73 (08/09 $4.61)
Industrial Special Risks $2.26 (08/09 $2.28)
Association Liability $0.96 (08/09 $1.05)
Caravan (per district) $656.00 (unchanged)
Divided by 2120 = 0.31 per member
Total $16.94 (08/09 $16.61)

Paying too much – this year only 12 of 60 clubs
  responded to District Secretary’s request for
  information
       CONTACT DETAILS
            Don Shields

32-34 Ormond Road, East Geelong 3219
      P O Box 96, Geelong 3220

        Work (03) 5229 0061
        Mobile 0419 390 303

         don@gibvic.com.au

				
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