Aware that many of its members are finding it increasingly difficult to obtain public liability protection for their operations, the Australian Amusement, Leisure and Recreation Association (AALARA) is looking to create an industry Discretionary Mutual Fund.
Noting in a recent communication that “many operators (are) being refused cover entirely” it advises “AALARA believes this situation is only going to get worse in the future and proposes (an) alternative model.”
With DMFs offering ‘discretionary cover’, an insurance-like product that may involve an obligation on the DMF to consider meeting a claim, the Association is looking to work in conjunction with an Australian Financial Services Licence Holder to commence an industry DMF, which, it says “would be owned by the members, run by the members, for the benefit of all members”.
With plans well advanced, AALARA has been seeking member feedback on the proposal.
AALARA cites the benefits of a DMF as including:
• Any surplus can be returned to members in the form of lower premiums, not shareholders
• Group buying leverage
• Tax savings
• Opportunity to fight claims that can harm the industry
• Being a longterm solution for the future of the industry
• Members will still receive a Public Liability Certificate of Currency to satisfy councils and show societies
AALARA Conference 2021
AALARA has advised that its 2021 conference will take place at the Sea World Resort Conference Centre from 17th to 19th May next year.
Click here to view event details for the AALARA 2021 Conference in the Australasian Leisure Management industry Calendar.
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