As of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as Vivaticket Pty Ltd. Vivaticket is the ideal strategic partner for the organisation and management of your…read more
Small Business Ombudsman launches review of AALARA’s Discretionary Mutual Fund proposal
The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) Bruce Billson has launched a Review of the Discretionary Mutual Fund proposed for businesses in the attractions, recreation and tourism sector unable to secure essential insurance coverage.
Billson says the self-generated review, will build on ASBFEO’s Insurance Inquiry as well as ongoing feedback from the Australian Amusement, Leisure and Recreation Association (AALARA) on behalf of its members - many of which face imminent closure without adequate insurance coverage.
Billson explained “our country shows that we all love so much are facing a bleak future because small businesses, such as ride-operators, cannot get insurance coverage.
“Closure of these small businesses will mean significant job losses and hurt local economies.
“Our Review will be a deep dive into the inaccessibility of insurance for amusement, leisure and recreation businesses, so that we can provide further advice to the Australian Government on what measures could help these small businesses secure the insurance products needed to remain in operation.
“At the core of this Review, my office will independently examine AALARA’s proposal to establish an industry-owned and operated Discretionary Mutual Fund as the most effective and durable solution to the sector’s insurance crisis.
“We will consider if this proposal will resolve the insurance issues in the sector, the responsibilities and obligations it would impose, its adequacy in satisfying regulatory requirements as well as other options that may assist these businesses.”
“This Review will use the Ombudsman’s internal expertise and seek external expert advice on complex issues, such as specialist legal, financial sustainability and actuarial matters.”
AALARA President, Shane McGrath welcomed ASBFEO’s Review of its proposed Discretionary Mutual Fund, which it is seeking to establish in partnership with Aon.
McGrath advised “the amusement, attractions, leisure and recreation industries are facing catastrophic consequences without necessary insurance coverage.
“ASBFEO’s Review will provide vital information to the Australian Government about the challenges our members are up against regarding insurance accessibility, as well as what that means for these businesses and what support could help address insurance issues faced by the sector.”
A final report is expected to be completed in August.
18th June 2021 - Small Business Ombudsman welcomes Franchising Code reforms
7th June 2021 - Sunshine Coast Agricultural Show returns to Nambour Showgrounds
12th February 2021 - Inability to secure insurance forces closure of Barra Fun Park in Townsville
2nd February 2021 - Tasmanian Government helps tourism attractions with insurance contributions
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
12th June 2020 - Insurance refusals impacting adventure tourism operators
7th April 2020 - RNA announces cancellation of Brisbane’s Ekka
15th September 2018 - Commercial trampoline centre operators struggle to secure insurance
9th September 2011 - Amusement operator fined $30,000 following prosecution by Fair Work Ombudsman
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