Personal Accident (SPORTS INJURY) Insurance

Participation in sport results in risks which are unique to that industry; insurance is a product which plays an important role in managing those risks.  However, an insurance policy which has been written predominantly for a retail business or a factory, for example, will not necessarily be appropriate for a sporting body.  It is extremely important that insurance purchased by a sporting organisation is specifically designed to cover the inherent risks of  that sport.

OAMPS Laser's role as risk management advisers and insurance brokers is to,  in association with the sport, identify the risks to which the sport is exposed and determine how these risks are best managed.  Where it is determined that an insurance safety net is required to help manage an identified risk we determine the insurance wordings which are appropriate to assist in this regard.  This can involve tailoring the insurance wording to fit the requirements of the sport rather than purchasing an “off the shelf” product.

Personal Accident (also known as Sports Injury) is one class of insurance  which should be considered as part of the program.

Sports Injury Insurance provides benefits when an insured member is injured as a result of participation in the sport.  This includes practice and matches, whilst travelling to and from these activities, whilst attending official functions of the sport and whilst staying away from home during a tour for the purpose of participating in sporting events.

The benefits provided under a Sports Injury policy can include:- 

·         Death 

·         Permanent Total Disability

·         Permanent Partial Disability

·         Non Medicare Medical Expenses

·         Funeral Benefits

·         Loss of Income

·         Home Help Benefit 

·         Students Assistance Benefit

·         Parents Inconvenience Allowance

It is important to note that insurance  terms, conditions and exclusions vary from insurer to insurer.  It is extremely important that the policy benefits and exclusions are understood and considered carefully in making a decision on the purchase of a policy.  Expertise is required to ensure that the appropriate cover is provided, therefore professional advice is essential.  The importance of reading and understanding the policy document, giving particular attention to the exclusions, cannot be overstated. 

For further details please fill in our on-line
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