If you are among the many Australian professionals who make a part of the sports world your profession, then you are likely aware you need insurance. However, do you know what types of cover are available and which are best suited for your position?
The insurance experts at Grace Insurance can help you get the right policy at the best price. Whether you are a physiotherapist, personal trainer, operate a gym, or run a sporting club, we can protect your valuable career and assets.
What is Sports Underwriting?
Arranging insurance cover for professionals at various levels of the sports industry is the niche sports underwriting covers. Depending on the specifics of your position, you may need specialised insurance cover. Because getting this protection right is paramount, speaking with an expert who is familiar with the ins and outs of professions related to the sports industry is a must.
What Specific Professions Need to Consider Working With a Sports Underwriter?
While there are scores of jobs that fall under the umbrella of sports insurance, they generally divide into one of several categories, including:
- Fitness Professionals
This category includes but is not limited to:
- Personal trainers
- Yoga or Pilates teachers
- Massage therapists
- Dietary advisors
- Weight loss instructors
- Owners of gyms and other fitness centres
A licensed physiotherapist is an expert in understanding movement as well as how the human body works. In general terms, physiotherapists help people gain and maintain optimal physical function. In addition to assisting patients with injuries and chronic mobility conditions, physiotherapists also work with:
- Stroke patients
- Obesity issues
- Other chronic health issues that hinder the quality of a patient’s life
- Sporting and Leisure Clubs
There are numerous clubs and associations in the category of sports and leisure clubs. These include:
- Soccer and Australian Rules clubs
- Sports leagues
- Community clubs
What Insurance Cover Do Fitness Professionals Need?
The nature of a fitness professional’s job is multifaceted; it makes sense that the proper insurance cover for someone in the fitness industry is versatile and all-encompassing.
There are several types of cover that many fitness and training professionals should consider. (Remember that this list is not an all-encompassing statement of what is necessary for all who work in this area.)
- Professional Indemnity Insurance
Even though you put all of your skill and knowledge into the services you provide for your clients, unforeseen events can happen. Having a professional indemnity policy is a smart way to look out for yourself.
With this cover, you have protection from claims (both alleged and actual) of omission and negligence. Additionally, a professional indemnity policy will help with legal costs incurred because of the claim. A few examples of claims where professional indemnity cover can help you include:
- Creating a training plan that is not suited for a client
- A claim of personal injury due to a trainer’s negligence
- Incorrect information
- Misleading dietary supplement claims
- Inappropriate meal plans
- Public Liability Insurance
In many situations, public liability insurance is compulsory throughout Australia. Its purpose is to provide cover for you and your business if a client, visiting professional, or another member of the public suffers an injury or property damage because of your business activities.
For example, a client trips over a kettle ball and breaks their ankle. Your public liability insurance protects you and your assets in the event that the injured person chooses to seek damages.
- Business Insurance
No matter what type of fitness-related business you operate, a business insurance policy is a smart idea. Not only will this cover your expensive equipment against theft, loss, or damage, but the policy covers any stock you may carry such as supplements or herbal remedies.
Within the category of business insurance, you will find:
- Contents Insurance that covers everything within your business, such as energy drinks, purifying candles, or barbells
- Portable Equipment Insurance covers anything needed for the job that travels along with you to your appointments. This could include a massage therapist’s oils and massage table, yoga mats, portable boxing ring or other items crucial for your job.
- Personal Accident or Illness Insurance
When working in the fitness industry, your body is an essential element in your business. For this reason, insurance experts highly recommend personal accident or illness cover.
Personal accident or injury policies will defray lost income and pay if you are unable to work regardless of the precipitating event happened outside of your workplace. This cover allows you to relax and recover from injury or illness without worry about paying your regular bills.
What Insurance Cover is Best Suited for Sporting and Leisure Clubs?
- Sports Insurance
It is easy to understand why owners and operators of sports and leisure organisations need to have a top-notch cover. You have invested in your facility, staff, and required maintenance. The last thing you want is for all of your efforts lost because of an unforeseen event. Generally, a sports organisation or club will need cover for the following groups:
- Coaches and teachers
- In house medical providers
- Players and facilitators such as scorekeepers and officiating crews
- Clubs and teams
- Leisure Insurance
Facilities that specialise in leisure activities have a separate niche as far as insurance goes. Insurance for leisure clubs breaks down into subsections. These are:
- Health and Fitness Facilities – There can be some overlap of coverage between this type of insurance and similar forms of cover. It is best to speak with your insurance professional to determine what options are best for you and your business. Health clubs, leisure clubs and gymnasiums can fall into this category of insurance.
- Adventure Sports – A large number of facilities and activities fall into the category of adventure sports. These include but are not limited to:
- Aquatic centres
- Driving experiences
- Climbing centres
- Wilderness adventures
- Activity centres
- Aerial experiences
- Outback tours
- Fishing excursions
- As well as the organisers, producers, and performers
What Kind of Insurance Cover Do Practitioners of Physiotherapy Need?
If you are a practising physiotherapist, you already are quite busy planning the care and rehabilitation of your clients to help them achieve their best physical function. However, insurance cover is a need that you must consider to protect yourself and any company with whom you practice.
The Physiotherapy Board of Australia (PBA) has guidelines in place under section 39 of the Health Practitioner Regulation National Law regarding compulsory insurance cover. The Physiotherapy Board, along with the Australian Physiotherapy Association (APA), believe clients have the right to expect that practitioners have adequate insurance to take care of injuries or accidents occurring during the course of treatment.
- Professional Indemnity Insurance
The law requires registered physiotherapists possess professional indemnity insurance to shield against claims that result from negligence, professional omission, or errors.The PBA highlights the fact that because of the nature of the profession, physiotherapy carries more significant professional risks than other occupations.
Additionally, within the field of physiotherapy, some positions have an increased chance for injury or harm to a client. Furthermore, physiotherapists are responsible for consulting insurance professionals, capable of assisting them in obtaining the proper amount of professional indemnity insurance.
Practising physiotherapists working without professional indemnity insurance are subject to disciplinary action from the board.
- Public Liability Insurance
The Physiotherapy Board of Australia strongly suggests that its members consider carrying public liability insurance cover. In many areas of Australia, public liability is compulsory for physiotherapists. The cover will protect individuals from claims made as a result of an injury or property loss that happened on your premises.
- Boundary Violation Cover
The necessity of boundary violation insurance is an unfortunate sign of the times. However, as a professional engaging in the physical act of seeing to the rehabilitation of clients, you now stand a higher chance of being a part of a sexual misconduct suit. Having cover to help you with legal investigations as well as clearing your name is frequently a necessary part of 21st-century professional life.
- Business Entity Cover
A business entity insurance policy is a form of public liability and professional indemnity cover for your business. It functions separately from any individual professional indemnity or public liability insurance cover you or any professionals working for you may already carry.
A business entity policy is particularly useful if your business is named in a claim or as a part of an investigation relating to a claim. Typically, legal costs associated with these actions are not covered under your personal policy. When you have insurance to protect your business as its own entity, you are making a choice that is both smart and practical in an era where legal claims are quite common.
- Runoff Cover
In the event that you should cease your physiotherapist practice altogether or should you leave one practice to join another or strike out on your own, possessing run-off cover is a good way to extend your protection.
For example: If a former client names you as a part of a suit or claim after you are no longer a part of the same practice or even practising at all, a run-off cover policy will ensure that you are protected from legal fees and other monetary consequences of the claim or lawsuit.
The run-off insurance policy is an excellent idea if you frequently change locations or practices. Additionally, having a run-off policy is wise if you are either nearing the end of your career or planning a change in your professional direction.
Do You Need Sports Insurance?
At Grace Insurance, our experienced staff are able to offer you the quality of advice based on our unique understanding of your professional and business needs as they pertain to the sports and health industry. Get in touch with us for more information.
Please note: The contents of this blog post are for informational purposes only and is not professional advice. Always speak with your insurance professional regarding the specific details of your insurance policy. Also, the terms contained in the policy are subject to conditions and exclusions.