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AALARA works through solution to insurance market challenges
The Board of the Australian Amusement, Leisure and Recreation Association (AALARA) has advised that it is continuing “to work through the challenges presented by the hard insurance market” and its efforts to establish a Discretionary Mutual Fund.
In a new communication with stakeholders, the AALARA Board advises “we met early July with Aon, Bruce Billson (Australian Small Business and Family Enterprise Ombudsman) and his team.
“The purpose of the meeting was to introduce the Aon team, review the scope of work and establish the requirements for ASBFEO review.
“Since this discussion, ASBFEO has hosted a stakeholder forum to share ideas, insight and receive feedback.”
AALARA believes the industry can best serve its needs by moving forward and establish a Discretionary Mutual Fund (DMF) owned and operated by members which delivers significant benefits over traditional insurance.
The AALARA communication adds “the DMF must have professional oversight and be directed by a company with the experience and credentials such as Aon.
“AALARA will continue to present the facts and suite of benefits a DMF, run by a company with Aon’s credentials can provide the industry.
“It has become evident from all discussions we have had with key stakeholders thus far, is that a whole of industry solution is the only way forward, so we appreciate all Members who are supporting our efforts to ensure the future of our industry. We only have one shot at getting this off the ground, so it is incredibly significant we are united in our efforts, so a big thank you to you all for having this big picture vision.”
2nd April 2021 - Bluesfest cancellation to cost more than $10 million in losses
12th February 2021 - Inability to secure insurance forces closure of Barra Fun Park in Townsville
26th January 2021 - Report asks if Australian tourism industry can be insured?
14th January 2021 - QTIC to survey operators on insurance crisis
30th December 2020 - AALARA releases ‘urgent request for the survival of our industry’
18th November 2020 - AALARA takes action as attractions operators face public liability issues
16th November 2020 - Industry operators impacted by rising insurance premiums
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