Club Insurance Renewal
Insurance is available to bridge clubs as part of the EBU Club Insurance scheme. It offers excellent coverage at competitive rates through our brokers, Osbornes Insurance Oxford Ltd.
EBU Club Insurance was due for renewal from the 1st April 2016
The Insurance premium tax has increased from 6% to 9.5% and is included with Osborne’s administration cost in the quoted prices below. Otherwise there is no increase in prices this year.
The benefits of the insurance are:
Key Points
- Member to member liability – very important extension that means a member can cause injury to another member or loss or damage to another members belongings and be covered. This is usually excluded under commercial policies due to the fact the policy holder cannot sue themselves and as the bridge club is the members and the members are the bridge club, the insurers would normally exclude any loss, damage or injury caused between the members.
- Hired & rented premises – The bridge club will be covered if they cause loss or damage to any premises that they hire or rent. This is important as you can usually only insure property that you own but this extension will cover accidental damage caused by the members to the hire or rented premises.
- Libel & Slander – this is in relation to what the members may say or write about another member which may lead to the defamation of their character. This may be important should a member accuse another member of cheating.
- £25 All Risks contents Excess – this is an extremely low excess for a commercial combined. You would normally expect to see a £250 - £350 excess on this type of policy.
- All risks contents cover location – the contents are covered anywhere in the world. Although this may not benefit many clubs it is good to have the flexibility should some clubs take items abroad with them.
- Full theft on buildings and contents – The contents would usually have a clause specifying that theft would be excluded unless force or violence has been used to gain entry to or exit from the premises. We have negotiated with the insurers to have this removed which means that the cover is much wider now as this also applies to the buildings section which won’t affect the smaller clubs but the larger clubs that have been moved onto this policy wording will benefit greatly.
- Trace & Access cover – Trace and access is covered up to £25,000. This cover will pay out in the event a burst pipe but it is unknown where the leak is. It will be used to trace the leak and gain access to the area so that it can be fixed. This would only really apply to the clubs that own their own buildings or clubs who lease the buildings and are made responsible for such scenarios.
- Theft of keys – This is covered up to £1,000 which will pay to replace the locks and keys in the event the keys are stolen.
Please note that if you rent your premises then you are unlikely to be covered by the property owner’s public liability insurance. Please see here.
The Public Liability policy is £62.25 and the Premium insurance policy is £73.20, the All Risks sum is £4,000 for the basic premium insurance. We are also able to offer a tiered schedule, so should you require a higher sum insured for All Risk, Osbornes can now offer this, please see table below. Should you wish to amend your insurance cover please contact Karen Durrell by email or on 01296 317201.
| CATEGORY | ALL RISKS SI | MONEY SI | PL LIMIT | EL COVER | PREMIUM |
| Public Liability Only Schedule | N/A | N/A | £5M | N/A | £62.25 |
| Premium Schedule | £4,000 | £500 | £5M | Yes | £73.20 |
|
Tier 2 - Premium Schedule
| £8,000 | £500 | £5M | Yes | £135.18 |
| Tier 3 - Premium Schedule | £12,00 | £750 | £5M | Yes | £175.88 |
|
Tier 4 - Premium Schedule
| £16,000 | £750 | £5M | Yes | £217.20 |
|
Tier 5 - Premium Schedule
| £20,000 | £750 | £5M | Yes | £258.52 |
*pro rata rate applies
If your club operates a Pay As You Earn (PAYE) system to collect Income Tax and National Insurance, Osbornes require your PAYE or ERN (Employers Reference Number) number. Please see attached document for more information and here is the link to the HMRC website (http://www.hmrc.gov.uk/paye/index.htm).
Osbornes are independent insurance intermediaries and as such act on your behalf when arranging insurance. More information is available here. Alternatively please contact Karen Durrell at the EBU – karend@ebu.co.uk, 01296 317201, or Jayson Abbott at Osbornes Insurances Oxford Ltd- 01844 213161 or Jayson@osbornesins.co.uk
