Travel 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. 

Travel Insurance should be considered by all sporting organisations who have teams or individuals travelling interstate or overseas.  Cover can be arranged on a trip by trip basis, or for organisations who have a lot of travel an annual policy may be more appropriate. 

Travel insurance can provide the following protection:-

·       Cancellation

·       Overseas Medical and Extra Expenses

·      Luggage, Personal Effects, Travel Documents

·       Money

·       Travel Delay

·       Missed Transport Connection

·       Resumption of Journey

·       Airfare Compensation

·       Hijacking and Kidnap

·       Credit Card Benefit

·       Legal Expenses

·      Rental Vehicle Collision Damage and Theft Excess Cover

·       Injury Loss of Income

·       Personal Liability

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.

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