MAIA President today announced that the new MAIA insurance policy, effective from 1 July, has been confirmed at a $20 million public liability cover. The policy is the highest level of cover available within the martial arts industry and is underwritten by QBE, Australia’s largest insurance company.
Walt commented that
“over the last 12 months many members have provided feedback and made suggestions as to how we can improve our insurance service. Firstly an increasing number of venues, particularly Government venues, are asking for a $20 million Public Liability cover.
Over the next 12 months most Local Government halls and community centres are increasing their required Public Liability cover to a twenty million dollar requirement; many members have already advised that they will need this level of cover and there have been a number of court damages awards that have exceeded $10 million. It is a sad fact that many martial arts schools run the risk of being locked out of their venues due to insufficient insurance coverage. Accordingly we have negotiated to double the coverage of our policy from ten million to twenty million dollars and we have done this with no increase from the premium our members paid last year”.
Any questions or information you need about this policy can be directed to: insurance@maia.com.au