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AALARA works through solution to insurance market challenges

AALARA works through solution to insurance market challenges
August 2, 2021

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.”

Related Articles

7th July 2021 - Public liability insurance crisis further impacting Queensland country shows

21st June 2021 - Small Business Ombudsman launches review of AALARA’s Discretionary Mutual Fund proposal

7th June 2021 - Festivals seek ways to avoid massive financial losses from COVID-related cancellations and restrictions

31st May 2021 - Royal Adelaide Show facing event with smaller crowds and fewer carnival rides

3rd May 2021 - Moving to address industry insurance crisis AALARA releases survey on Discretionary Mutual Fund

22nd April 2021 - AALARA’s first Roadshow event addresses key industry issues with update on moves to establish discretionary mutual fund

12th April 2021 - Failure to secure insurance see Australia’s last circus with exotic animals move to retire its lions and monkeys

2nd April 2021 - Bluesfest cancellation to cost more than $10 million in losses

24th March 2021 - AALARA presents need for Federal Government backing for insurance crisis resolution at Canberra meetings

25th February 2021 - AALARA to replace single annual conference with one-day events in Sydney, Melbourne and on the Gold Coast

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’

29th December 2020 - Ombudsman’s report calls for action in addressing ‘national crisis’ in insurance coverage

10th December 2020 - Insurance crisis set to force closures of Australian attractions and adventure tourism businesses

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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