Asset Protect Insurance

Without protection your club could lose everything to a single event, like a storm or fire.

Asset Protect insurance can cover you for many types of risk, from theft and damage to your insured property to loss of income due to business interruption.

Some of the Sporting Risk Protection Programs we arrange automatically include a level of cover for club assets. Please check the relevant sport’s page on our website to find out more.

You can pay your insurance upfront by credit/debit card or BPAY. Alternatively, we can help you spread your payments by arranging premium funding to split your payments into monthly instalments.

Business interruption insurance typically covers loss of income and increased operating costs as a result of an insured event (property damage or loss) under your property insurance policy.

The policy is intended to provide cover from the date of the loss to when your turnover is back to its pre-loss level, however, this is subject to the coverage limits obtained and any applicable time deductible. Generally, business interruption insurance covers:

• Loss of income
• Ongoing expenses (E.g. payroll, financing and other fixed costs)
• Additional costs required to return to normal business operations
• Revenue earning operations, supply chain and manufacturing dependencies
• Disruption caused by service providers including power, telecommunications, water

Voluntary shutdown or business interruption unrelated to a property loss/damage is typically not covered under business interruption insurance. A business interruption policy will also have an excess (or deductible) and policy limits, and cover may differ from insurer to insurer.

Also, insurers will not accept risks that have already crystalised, such as interruptions caused by the current COVID-19 situation. It is important that you read your policy wording to understand the complete list of business interruption insurance exclusions and policy conditions.

An indemnity period is how long a business interruption insurance policy will pay for the interruption of your business. The indemnity period should represent the maximum amount of time it will take to get the turnover of the business back to normal after a worst-case scenario incident.

Many factors will need to be considered to determine the appropriate indemnity period for your business. This needs to be discussed in-depth with your insurance advisor.