2021-2022 IMPORTANT INSURANCE UPDATE FOR MEMBERS

Recent insurance renewal brings changes to insurance cover for members and affiliated clubs.

This article has been written with the support of our insurance brokers, Bluefin Sport (a trading name of Marsh Ltd).

A number of factors including COVID and Brexit has resulted in increased prices across the market and a more nuanced approach on different types of insurance such as cyber insurance and professional indemnity insurance.

Personal Accident

This remains unchanged – more details here.

Public Liability

Public Liability coverage up to £10m for BF and it’s members has remained unaltered. For details see here.

Directors and Officers

Our brokers have secured £3m coverage with AXA which provides a higher limit of indemnity, lower excesses and additional coverage such as retirement run off protection.

Full details of the policy coverage are available here.

Note: On renewal our incumbent provider offered a reduction in coverage from £10m to £1m, with a number of cover restrictions alongside a significantly increased excess and a removal coverage entirely for all clubs and committees.

Exclusions and Considerations

Whilst the British Fencing membership includes insurance for the covers noted above, some clubs may require additional insurances. Below is an example of additional insurance products available to clubs to consider.

1. Employers Liability Insurance

The BF insurance has never covered paid employees of a club. It is worth highlighting this point as any club with paid employees require their own insurance which can be arranged separately.

Volunteers, which include volunteers who are paid expenses, are covered under the BF insurance.

2. Cyber Insurances

Cyber and data insurance is designed to support and protect you from evolving e-risks. It provides comprehensive cover for your computer systems and data, whether electronic or non-electronic. The insurance varies by insurer however key benefits and sections of cover available include Breach Costs, Cyber business Interruption, Hacker Damage, Cyber Extortion, Privacy protection, Media Liability, Data Liability. Phishing attacks e.g. requesting invoice payments are considered a crime/fraud under the heading of social engineering and coverage for such events is generally available under Crime policies rather than Cyber insurances.

3. Property Owners Liability (for building owners and tenants)

This policy provides indemnity to the insured for legal liability for damages and legal costs arising out of third party injury, loss or damage, in connection with the operation of the premises where property owners liability attaches under the Occupiers Liability Act.

COVERED: This policy would provide cover if a roof tile falls on a member of the public.

NOT COVERED: A member of the public trips over a weights bench and is injured.

4. Buildings & Contents Insurance

Buildings insurance covers your property from damage by flood, fire, subsidence, storm, protecting the structure of the building and its fixtures (changing rooms etc.).

Contents coverage protects anything inside that is of value to the owners but separate from inventory or stock. This includes furniture, equipment, electronics, and machinery.