Specialist Marine Insurance Broker Insurance Risk & Claims Management (IRCM) have moved quickly to assist UK Sailing clubs in the wake of an announcement by the Royal Yachting Association (RYA) that has seen them increase the scope of cover required by their Recognised Training Centres (RTCs).
The Association is the UK’s national body for boating (sail and powered) and has stated that the review is prompted by changes in insurance over the last few years and the need for greater clarity on the form of insurance required as well as the levels of cover. The announcement stresses that it is important for clubs to ensure their marine activities are fully disclosed to insurers and that “tuition” is included in the business description when undertaken by clubs.
Going forward RTC’s will be required to hold a minimum limit of indemnity of £3m in respect of their Public Liability Insurance – an increase of £1m. Of greater significance is the requirement for RTC’s to hold a minimum of £500K Professional Indemnity cover in respect of their training activities, both ashore and afloat. Professional Indemnity insurance is only available from a small panel of insurers and the combination of waterborne training which also often involves children and vulnerable adults is likely to rule some of the panel out as potential providers. The scope of the Professional Indemnity cover also requires cover to include personal injury which will also serve to make the proposition even less attractive to insurers.
Mark Elcocks, Specialist Risks Executive with IRCM said “We thought it wise to move quickly to offer a solution for sailing clubs that are RTCs. Many will have renewals in the next few months and although the Professional Indemnity requirement is not yet in force, clubs will have the benefit of knowing that they won’t be struggling to source a solution as the deadline approaches”.
Mark went on to say “Many RTC’s are not-for-profit sailing clubs that are essential to promoting sailing and we believe it’s vital to assist them whenever possible. Many small clubs have modest revenue and we are not only committed to providing the right cover for them, we are also determined to provide them with a low-cost solution. For this reason we are delighted to be able to offer such clubs a competitively priced Professional Indemnity and Public Liability package that they can either bolt onto their existing insurance programme or bundle with our own comprehensive low-cost sailing club cover”
For further information on obtaining low-cost comprehensive RYA-compliant insurance for your sailing club telephone Mark Elcocks at IRCM on 01902 796 793 or email firstname.lastname@example.org