The market outlook for golf insurance in Australia is a rather cumbersome one. As of late insurers have tightened their grip on claims and exudes little faith in the industry as a whole.
With continuing catastrophic events like bush fires and storms, the risk of being left with no insurance option is becoming increasingly more tangible.
The main culprit of this noticeable lower tolerance among insurers for golf clubs and facilities around Australia is undoubtfully the increase of preventable type losses claims.
The importance of risk management
Proactive measures in the form of risk maintenance and practical mitigation strategies taken by clubs can minimise the exposure to the volatility of the current insurance market.
The industry experts agree; by having risk management programs in place assisting staff in identifying what could go wrong and taking viable measures to prevent it, will help the golf industry as a whole to become more attractive
With club maintenance programs and prevention methods such as cleaning gutters and conducting regular tree maintenance and removal could see big losses in relation to storms (55% of all claims) be avoided.
Insurance is often seen as a reactive measure rather than
a pro-active risk management tool Robust management strategies should be adopted in all operational businesses in order to reduce the risk of accidents before they happen.
Identifying potential risks and creating a risk management profile for a club can have the following benefits:
- Lower the cost of insurance!
- Reduce unexpected and costly surprises
- Assist with strategic planning
- Allow more effective & efficient allocation of resources
- Create peace of mind for visitors/members
Your risk management partner
Golf Business Australia understands all the different nuances of the golf industry and is taking a holistic approach to reducing risks at your golf facility. This will subsequently help lowering insurance premiums for your facility and avoid increasing preventable type losses claims further.
“We want our value proposition to extend beyond insurance expertise via working partnerships with like- minded peers, to improve a facilities risk profile and negotiate more favourable insurance premiums as a result,” explains Managing Director Daniel Bateup.
“As your insurance partner, we believe in interaction and providing on-going risk management advice to assist you in eliminating and reducing the risks associated with your club’s activities. With GBA you’re getting more than just experienced golf industry insurance advice, you’re getting a risk management partner with a plan.”
GBA’s Golf Club Risk Management Plan
Together through partnerships with experienced golf industry experts including ePar & Country Club Intl, GBA has developed a risk management plan ready to roll out to golf clubs averse to risk and rising insurance premiums.
Intentionally simple, the ten-point plan is the start of a clubs journey out of turbulent uncertainty & into manageable predictability.
In a continued effort to safegaurd & support the Australian golf industry, GBA is prepared to do its part by matching the commitment of participating clubs with our ‘flexi-fee’ remuneration. Ask us how this works today.
What are you getting with GBA?
- We believe in partnerships & interactions, NOT transactions!
- We assist on ANY outstanding claims matters through to satisfactory settlement.
- We address cover concerns recognised in your current and quoted insurance program
- We provide priority first-class service and ongoing experienced advice.
- We maintain unrivalled insurance protection at the markets most competitive premiums.
- We introduce innovative finance solutions aimed to reduce costs and add value to your club.
- We promote and support your club via social media & our industry network.
GBA believes in a united industry front, if you have existing or upcoming insurance needs and could use some added time to weather the storm, let us help!
Every golf business has a unique risk profile. Our risk assessment process will identify the type of risks your club or golf business is subject to and determine whether insurance is available and appropriate.
Golf Business Australia can customise a plan that works to protect your assets, and revenue, from the unique conditions and threats of your golf business.