Issue date
By Sam Gunn of Aon New Zealand
The Affiliated Yacht Club Insurance Package scheme has provided huge benefits to clubs all across the country from small to large and renewals are fast approaching on June 1, 2020.
More than 80 affiliated clubs and associations have joined and this will be the sixth renewal of the scheme arranged by Aon.
The package has saved most clubs with their overall insurance cost while also significantly enhancing the cover provided which was developed in collaboration between Aon and Yachting New Zealand to be fit-for-purpose.
Prior to Aon’s involvement with Yachting New Zealand and club insurances, most clubs were overpaying for the level of cover they were receiving and, in many cases, managed to save on premiums while also largely enhancing their cover offered through Aon.
The scheme benefits have also supported clubs, with more than $1m in claims being paid to clubs over the past six years covering a wide range of claims from large weather events to thefts of engines and employment disputes. Some of these claims would not have been covered by standard insurance policies that are not tailored for yacht clubs.
For the clubs already with the Aon scheme, your local broker will be getting in touch with you to discuss the upcoming renewal and go through the benefits of cover the package provides and answer any questions you might have. Most clubs will have no increase in their premiums this year, except for those who have had claims or are in a high-risk natural disaster area.
We believe this is a great result, especially as the general insurance market continues to experience increases across the board. If costs are an issue for your club this year, Aon can work through alternatives, such as premium funding, reviewing sum’s insured and levy calculations.
For those clubs who have not yet spoken with Aon, we recommend getting in touch when your renewal comes up. The scheme continues to grow as the offering remains extremely beneficial and competitive for clubs compared to what is available in the market.
Aon have been a strong supporter of Yachting New Zealand in many ways like the Aon Fast Track programme, clubs and member benefits and provision of solutions to sailors competing overseas. Aon are committed to supporting clubs and their wider client base through these challenging times.
You can find more about Aon here or contact your local Aon broker. I will also be joining Monday's Zoom session being held by Yachting New Zealand chief executive David Abercrombie if you have any questions.
